The Capria Accelerator for VC fund managers has opened applications to its fifth investment cycle, also announcing Kenya-based Lateral Capital has been selected to join the programme.
Disrupt Africa reported the Capria Accelerator launched in 2015 aiming to support impact fund managers around the world with capital and expertise, and through the creation of a global network of impact fund managers. Capria claimed to be the first ever incubator dedicated to accelerating VCs.
To date there are 11 fund managers in the network – four fund managers with previously-raised assets under management, and seven first-time fund managers.
African fund managers make up the majority of Capria’s network members. The first cohort included two unnamed African fund management teams; the second round saw Alitheia Identity join the network; and cohort three included Brightmore Capital, based in Senegal and Ivory Coast; and Edge Growth from South Africa.
The fourth investment cycle closed recently, with Capria announcing Kenya-headquartered Lateral Capital has been selected to join the network. Lateral Capital focuses on tech-enabled businesses that are profitably solving pain points across financial services, healthcare, education, renewable energy and housing through their US$50 million Lateral Africa Opportunities Fund.
Applications are now open for the fifth investment cycle, with a further three to five fund managers to be selected to join the programme.
“We’re excited to welcome Lateral Capital and another fund manager from Latin America into the global Capria Network,” said Will Poole, co-founder and managing partner of Capria.
“In our highly-selective partnering process, we look for fund managers who bring local knowledge and best practices not only to their own investing operations, but also to the entire network. Every Capria Network member we add makes the entire network smarter and stronger.”
In 2017, Capria has supported its network members in making eight investments, while a further 12 investments are expected for 2018. Investments are made with capital raised from Capria and other limited partners (LPs).
“[The completed and expected deal-flow] is a testimony to Capria’s growing momentum in filling the “missing middle” in emerging markets by leveraging the collective power of our network to mobilise US$$400 million in local and global capital over the next five years,” said Dave Richards, co-founder and managing partner of Capria.
Applications for the fifth cycle are open here, until November 27.