Capria announces first close of $100 mn 2nd fund
With a $100 million objective close, Capria Ventures, a global impact investing company with a focus on India among other countries, launched its Global South Fund II. The firm with its headquarters in Seattle, Washington, the new fund will concentrate on funding 20 to 25 tech businesses in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa.
With this, the fund aims to find entrepreneurs who will revolutionise businesses in a variety of industries, with a new emphasis on startups in the field of climate change. The new fund has received its first close from institutional investors who are returning, including OIP Investment Trust and Gates Ventures, as well as foundations, people, and family offices like Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust, and the two Pioneer Square Labs founders. In response to a request for comment, it declined to release the first close corpus.
Capria Ventures made three investments from the Global South Fund I, which was announced in 2018, into the fintech business Eduvanz, the jobtech startup Betterplace, and the agritech startup BharatAgri. With a total commitment of $57 million to 12 direct investments and more than 350 indirect investments, the Global South Fund I had a size of $57 million.
In order to make indirect investments, the initial fund collaborated with 14 investment companies, including Unitus Ventures and Arkam Ventures in India. Capria Ventures has already completed three investments in firms in Mexico, Brazil, Nigeria, and Egypt with the most recent round. Paymob (fintech), Kueski (fintech), Agrofy (agritech), and MAX (mobility). These are said to be warehouse-structured.
Investments in India and the rest of South Asia will make up about 60% of the new fund's total investments. According to the statement, it would invest in sectors such as fintech, mobility, logistics, agritech, foodtech, climate, jobtech, and HRtech from an early to development stage.
While Southeast Asia's venture capital investment is growing and the internet economy is expected to reach $330 billion by 2025, India has over 20,000 companies. According to Dave Richards, co-founder and managing partner of Capria Ventures, "Capria's Fund II recognises these synergies and seeks to invest in the most promising early-growth digital businesses in both regions.
With this, the fund aims to find entrepreneurs who will revolutionise businesses in a variety of industries, with a new emphasis on startups in the field of climate change. The new fund has received its first close from institutional investors who are returning, including OIP Investment Trust and Gates Ventures, as well as foundations, people, and family offices like Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust, and the two Pioneer Square Labs founders. In response to a request for comment, it declined to release the first close corpus.
Capria Ventures made three investments from the Global South Fund I, which was announced in 2018, into the fintech business Eduvanz, the jobtech startup Betterplace, and the agritech startup BharatAgri. With a total commitment of $57 million to 12 direct investments and more than 350 indirect investments, the Global South Fund I had a size of $57 million.
In order to make indirect investments, the initial fund collaborated with 14 investment companies, including Unitus Ventures and Arkam Ventures in India. Capria Ventures has already completed three investments in firms in Mexico, Brazil, Nigeria, and Egypt with the most recent round. Paymob (fintech), Kueski (fintech), Agrofy (agritech), and MAX (mobility). These are said to be warehouse-structured.
Investments in India and the rest of South Asia will make up about 60% of the new fund's total investments. According to the statement, it would invest in sectors such as fintech, mobility, logistics, agritech, foodtech, climate, jobtech, and HRtech from an early to development stage.
While Southeast Asia's venture capital investment is growing and the internet economy is expected to reach $330 billion by 2025, India has over 20,000 companies. According to Dave Richards, co-founder and managing partner of Capria Ventures, "Capria's Fund II recognises these synergies and seeks to invest in the most promising early-growth digital businesses in both regions.
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