African funds selected for Capria Network; 4th cycle opens


Two African impact fund managers have been selected to join the Capria Network securing investment commitments from Capria, while Capria’s fourth investment cycle is now open.

Disrupt Africa reported the inaugural Capria accelerator launched in 2015, providing investment, support and help to capitalize new fund managers backing early-stage startups primarily in Africa, South and Southeast Asia, and Latin America.

Capria has now completed its third intake, inviting four new fund managers to join the Capria Network, two of which are based in Africa – Brightmore Capital, based in Senegal and Ivory Coast; and Edge Growth, based in South Africa. The other two new joiners are based in South America.

The four selected funds participated in a seven week intensive programme, before becoming members of the Capria Network which will provide multi-year support in building world-class investment firms.

Capria has also committed US$2 million in aggregate to the four new members, with the risk capital to be used to invest in the funds’ teams and set up their funds quickly.

The capital also enables the funds to start making initial portfolio investments before they have received capital from other investors.

“We’re excited to be increasing the flow of impact capital in emerging markets, expanding our engagement in Africa, and adding South America as a new key region for the Capria Network” said Will Poole, co-founder and managing partner at Capria.

“The missing middle finance opportunity exists in all of markets where Capria Network fund managers are investing. High-growth businesses in these markets can deliver superior financial results and industry-leading social and/or environmental impact.”

“Capria accelerates the development of first-time managers, like us. In regions with a nascent venture capital and private equity industry, only a few established impact funds exist as role models,” said Dmitry Fotiyev, managing partner at Brightmore Capital.

“We’re already six months ahead of where we would have been without the engagement of Capria.”

Capria is moving straight on with finding its next cohort of fund managers, with applications to the fourth cycle of selection now open.

“If you are starting a new impact fund and would benefit from the assets and services of Capria and the Capria Network, please introduce yourself. We look for fund managers that can deliver superior financial returns, scalable impact, and contribute to the Capria Network,” the organisation said.

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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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