The Capria Network of venture capital (VC) fund managers is aiming to raise a combined US$200 million by the end of 2018, with applications currently open to new funds wishing to join the network.
Disrupt Africa reported in September 2015 Capria launched as an accelerator for VC fund managers in developing markets, offering investment, support and help to capitalize new fund managers backing early-stage startups primarily in Africa, South and Southeast Asia, and Latin America.
The organisation pivoted late last year, no longer offering an accelerator but framing its work as a collaborative network for fund managers.
The 11 fund managers currently involved in the network – six of which are Africa-based – this week announced a target collective raise of US$200 million by the end of the year, which they will then deploy in five focus sectors: essential services, healthcare, education, energy and financial services.
“Capria Network is a global collaborative movement – a first-of- its-kind – that brings access to capital, expertise and knowledge resources to create locally-driven and sustainable impact in Latin America, Africa and Asia. We believe change can only be created by supporting local intermediaries who invest in businesses that are directly responsive to the needs and opportunities in their markets,” said Will Poole, co-founder and managing partner of Capria.
Applications are currently open to the sixth intake to the Capria Network. Fund managers focused on providing risk capital to small and fast-growing businesses in emerging markets can apply here, until April 6.