Capria launches $100m fund, selects African fund for 2nd cohort

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Capria Accelerator has announced the launch of a US$100 million fund that will invest in equity and debt funds targeting early-stage impact businesses across Africa, Latin America, and Asia; while also announcing its second cohort, including Africa’s Alitheia Identity.

Disrupt Africa reported last year on the launch of Capria Accelerator, which claims to be the first global programme dedicated to incubating impact venture capitalists (VCs) in developing markets.  

25 per cent of applications to the inaugural programme were received from Africa, and two of the three teams eventually chosen to form the first cohort came from Africa.

At the 7th annual Global Entrepreneurship Summit (GES) held in Silicon Valley yesterday (June 23), Capria announced the launch of a US$100 million fund, named the Capria Emerging Managers Fund, which will invest in equity and debt funds targeting early-stage impact businesses across Africa, Latin America, and Asia.

Capria said within the next five years, the fund plans to invest in at least 15 impact funds which  provide early-stage risk capital to small and fast growing businesses in sectors including education, healthcare, agriculture, technology, housing, among others.

The fund will invest in funds led by the best managers engaged through Capria Accelerator, as well as in other leading impact funds.

“Capria’s goal is to empower the next generation of fund managers in emerging economies by leveraging nearly two decades of Unitus’ institutional knowledge, data and networks in successfully generating market returns while creating impact”, said Will Poole, co-founder and managing partner of Capria.

“The Capria Emerging Managers Fund will invest in the best teams emerging from our pioneering Capria Accelerator programme.”

In addition, Capria also announced two new funds will join the Capria Accelerator – Alitheia Identity, investing in women-led businesses across Africa; and idacapital, investing in technology and innovation in Turkey.

“Together with the African Development Bank’s commitment of US$12.5 million in Alitheia Identity’s fund,  partnering with Capria to access their extensive network and resources will enable me and my colleagues, Polo Leteka and ‘Tokunboh Ishmael to finance and support growth businesses, particularly those led by women and gender-diverse teams,” said Anne-Marie Chidzero, managing partner at Alitheia Identity.

Chidzero said Alitheia will focus on West and Southern Africa, helping businesses scale regionally and reach international markets.

A number of additional financial supporters have also come on board to Capria Accelerator, including London-based family office Ceniarth; Jim Sorenson, founder of Sorenson Impact Foundation; and the International Finance Corporation.

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Inspired and excited by the African tech entrepreneurial scene, Gabriella spends her time travelling around the continent to report on the most innovative tech startups, the most active investors, and the latest trends emerging in the ecosystem.

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