Unitus and Capria Ventures tie up, eye ‘Global South’ genAI opportunities

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Unitus Ventures, an India-based VC firm focusing on early-stage startups, said it is working with its US affiliate Capria Ventures to build a “multi-stage portfolio” in India and other emerging markets under a single brand.

The entity will use the Capria Ventures name. It will invest in startups of various stages across sectors such as fintech, jobtech, edtech, agritech, climate tech, SaaS, and generative AI amid the rise of solutions like OpenAI’s ChatGPT.

Aside from India, a key focus for Capria Ventures is the “Global South” region. While definitions vary, the Global South typically includes countries like Brazil, Indonesia, and China.

“We’re Global South specialists who invested through the mobile revolution and now see genAI as an even bigger opportunity for the Global South,” said Will Poole, the firm’s managing partner. “Going forward, more than 75% of our investments will be placed in applied genAI companies.”

Capria Ventures recently made 10 investments in genAI companies. It plans to back over 30 startups in Global South tech hubs like Bangalore, Jakarta, and Ho Chi Minh City, as well as Nairobi and Sao Paulo.

Previously, Capria Ventures announced the first close of its US$100 million Global South Fund II. Its anchor investors include Bill Gates’ Gates Ventures.

Before that, Capria has invested in Akulaku, Aruna, and Alami in Southeast Asia, as well as in India’s BestDoc and BetterPlace. In 2021, the VC firm announced a partnership with AC Ventures to invest in Indonesian startups.

See also: Why genAI for farming in India can be fertile ground for Indonesia’s agritech players