Small Foundation, a philanthropic foundation focused on catalysing income-generating opportunities in Sub-Saharan Africa (SSA), has invested in a hybrid debt facility with global investment firm Capria Ventures to advance enterprise-led economic development and foster technological innovation in the region.
Capria Ventures is a global investment firm leading, partnering with and funding the largest network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Capria brings venture capital innovation and global best practices to local venture capital, private equity and innovative debt funds, managed by local investment experts.
The partnership with Small Foundation will fund more such investors, while the collaboration will also focus on developing pragmatic ways to measure the impact of local partners’ investments in Africa.
“Supporting highly leveraged opportunities to drive sustained impact in Sub-Saharan Africa is at the core of Small Foundation’s work. We value mission-aligned partners like Capria who help unlock access to finance for local fund managers across the African continent,” said Conor Brosnan, chief executive officer (CEO) of Small Foundation.
“We are pleased to support Capria’s goal of overcoming the multi-layered challenge of establishing financial intermediaries in complex economic systems across Sub-Saharan Africa. This investment will help enterprises in Sub-Saharan Africa have access to funding, enabling them to create jobs and opportunities across the continent.”
Jack Knellinger, partner at Capria Ventures, said the firm’s relationship with Small Foundation began in 2018, when the foundation helped Capria establish an office in Nairobi.
“Since then, Capria has been constantly on the lookout for strong fund managers in Sub-Saharan Africa. Small Foundation and Capria Ventures have sealed a decade-long pact to further mutual objectives in the African continent, which is to invest and support the growth of emerging fund managers, primarily in Sub-Saharan Africa. The funds will be utilised to scale up operations in Africa as well as to increase the global footprint of our firm,” he said.