Capria Ventures, a Global South specialist venture capital firm, marks the first close of its target of $100 million fund.
Capria Ventures said in a statement on Tuesday that the new fund will focus on investing in 20 to 25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa.
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.
Aligning with current trends, the fund will seek founders harnessing the potential of generative artificial intelligence (AI) to transform companies across multiple sectors and as well as adding a new focus on climate startups.
Capria Ventures 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).
The fund 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 investments in India and Southeast Asia include Alami (fintech), BharatAgri (agritech), Betterplace (jobtech), EdenFarm (foodtech), and Eduvanz (fintech).
Combining global investment acumen with regional expertise, Capria’s 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.
“The startup ecosystem in India and Southeast Asia is thriving with immense potential for growth and innovation,
“India has over 20,000 startups, while Southeast Asia’s venture capital investment is on the rise, with the internet economy projected to reach $330 billion by 2025,” said Dave Richards, Co-Founder and Managing Partner, Capria Ventures.
He said that Capria’s Fund II recognizes these synergies and aims to invest in the most promising early- growth tech startups in both regions.
Larry Cohen, Chief Executive Officer, Gates Ventures, said that 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.
Fr. Rufus Whitley, OMI President, said 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,” he said.
David Setyadi Gunawan, Founder and Chief Executive Officer of Eden Farm, said the firm deeply values Capria Ventures’ unwavering support and partnership as they strive to become a leader in the business to business (B2B) food supply chain sector.
“Their help in bringing global best practices, valuable insights into AI, and expertise in attracting and retaining the best talent has been invaluable,” he said
Capria Ventures’ family of funds collectively manage assets exceeding $200 million. The fund has offices in Seattle, Bangalore, Nairobi and Washington DC.
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