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Capria Announces First Close of its Global South Fund II

Anna Lyudvig
April 25, 2023, 4:46 p.m.

Word count: 555

Capria Ventures, a Global South specialist firm investing in early-growth Global South startups, has announced the first close of its target of $100m fund.

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Capria Ventures, a Global South specialist firm investing in early-growth Global South startups, has announced the first close of its target of $100m fund.

The new fund will focus on investing in 20-25 tech startups in the entrepreneurial hotspots of Africa, India, Southeast Asia, Latin America, and the Middle East.

This first close reflects the confidence of previous institutional investors, including OIP Investment Trust and Gates Ventures as well as numerous foundations, individuals, and family offices, including Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust, and two founders of Pioneer Square Labs.

Speaking about his decision to invest with Capria a second time, Larry Cohen, CEO, Gates Ventures, said: “Capria’s Fund II, with its added focus on Generative AI and Climate technologies, looks to invest in startups at the forefront of innovation, primed to disrupt traditional sectors, forge new industries and propel economic growth in the Global South. We are excited to support the next generation of entrepreneurs focused on the most innovative solutions.”

Aligning with current trends, the fund will seek founders harnessing the potential of Generative AI to transform companies across multiple sectors and as well as adding a new focus on Climate startups.

Capria has already closed investments for its new fund in promising startups in Mexico, Brazil, Nigeria, and Egypt, including Kueski (fintech), Agrofy (agritech), MAX (mobility), and Paymob (fintech).

Capria has been making direct investments in key tech hubs of the Global South for 11 years and is using its experience and networks to source and create value for a new generation of startups.

Its current investment in Africa includes Helium Health (Healthtech), MAX (mobility), Paymob (fintech), Sendy (logistics), SeamlessHR (HRtech), Moniepoint (fintech), and WhereIsMyTransport (mobility). Combining global investment acumen with regional expertise, Capria Fund II will make early-growth (Series A / A+) investments in sectors including Fintech, Mobility/Logistics, Agtech/ Foodtech, Climate, and Jobtech/HRtech, supporting tech-enabled innovators primarily focused on domestic-first transformative solutions of many of the fastest growing emerging economies.

Fr. Rufus Whitley, OMI, President, said: “As a long-term advocate for the transformative power of venture capital investing, I am excited about investment opportunities in financial services, jobtech, and access to quality education."

Capria Ventures hits the right chord by identifying and supporting innovative startups working towards these goals.

The company’s strategy of partnering with local managers in the Global South, providing organized mentoring, collaboration, and training, has led to the emergence of strong and sustainable companies.”

Susana Garcia-Robles, Senior Partner, Capria Ventures, said: “At Capria, we are doubling down our investments in tech startups that are driving transformational change in Africa. With a young and dynamic population, growing economies, and a surge in innovation, Africa is set to take the center stage in global entrepreneurship. By fostering growth and innovation, we aim to not only empower these businesses but also pave the way for sustained economic development across the continent.”

“Capria Ventures has been an invaluable partner to our company, providing not only the financial support we need to grow but also the strategic guidance and industry expertise that has helped us achieve new heights of success. Their deep local and regional expertise has helped us in navigating our growth path. We are proud to be part of the Capria portfolio and to collaborate with similar founders across the Global South”, added Adetayo Bamiduro, Co-founder and CEO, MAX.

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