Shadine Taufik · · 1 min readCapria Ventures closes first tranche of $100m fund for emerging markets
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US-headquartered Capria Ventures has announced the first close of its Global South Fund II, which aims to raise US$100 million.
Gates Ventures (of Bill Gates) is one of the anchor investors in the fund. Other institutional investors include Crystal Springs Foundation, OIP Investment Trust, Sall Family Foundation, Brakeman Family Trust, as well as two founders of Pioneer Square Labs.
Capria wants to invest in 20 to 25 startups in the early-growth stage. It will focus on businesses based across Southeast Asia, the Middle East, Latin America, and Africa, according to a statement.
Aligning with current trends, the VC firm will be scouting for founders and firms using generative AI across sectors such as agritech, fintech, edtech, healthtech, HR tech, logistics, and climate tech. The new fund has already made four investments in Latin America and Africa.
The US$57 million Global South Fund I was launched in 2019 and has since been deployed directly on 14 investments. Capria has previously invested in Akulaku, Aruna, and Alami in Southeast Asia, as well as in BestDoc and Betterplace in India.
Across its funds, Capria manages assets worth over US$200 million. In 2021, it announced a partnership with AC Ventures to invest in Indonesian startups.
See also: VC funds tracker: Monk’s Hill bags $200m in latest fund
Editing by Thu Huong Le and Lorenzo Kyle Subido
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