Emerging markets fund manager network Capria is looking to invest up to US$20 million in two new African funds after opening an office in Nairobi.
Capria is a global investment firm that funds a network of emerging market fund managers, bringing venture capital innovation and global best practices to local venture capital, private equity and innovative debt funds.
Out of 800 applications, only 19 have been selected to Capria’s network so far, of which seven are from Africa, and the firm is now bidding to increase its presence on the continent having launched an office in Nairobi.
Capria has now announced it is looking to invest up to US$20 million in existing members and two or three new funds to capitalise on the budding entrepreneurial ecosystems of the region. This will come from a new US$100 million fund earmarked for emerging market managers.
“As a global recession looms, we can expect consumption rates in developed markets to go down. At the same time, evidence suggests that most emerging markets show high resilience to US-initiated economic downturns,” Will Poole, co-founder and managing partner of Capria, said.
“Capria works closely with emerging market funds to build resilient strategies to deliver superior returns for their global investors while creating sustained social and/or environmental impact. Our network model is now more relevant than ever to support local fund managers and link them with global LPs.”
Capria’s eighth investment cycle is now open for applications.