Capria Ventures Closes Global South Fund Which Focused On Asia And Africa Startups

Capria Ventures, based in the United States, has announced the first closure of its Global South Fund II, which hopes to raise $100 million.

Bill Gates' Gates Ventures is one of the fund's anchor investors. Crystal Springs Foundation, OIP Investment Trust, Sall Family Foundation, Brakeman Family Trust, and two Pioneer Square Labs founders are among the other institutional investors.

Capria intends to invest in 20 to 25 early-stage firms. According to a release, it would concentrate on firms in Southeast Asia, the Middle East, Latin America, and Africa.

In line with current trends, the venture capital firm will look for founders and startups leveraging generative AI in industries such as agritech, finance, edtech, healthtech, HR tech, logistics, and climate tech. Four investments have already been made by the new fund in Latin America and Africa.

The US$57 million Global South Fund I was established in 2019 and has now made 14 direct investments. Capria has previously invested in Southeast Asia's Akulaku, Aruna, and Alami, as well as India's BestDoc and Betterplace.

Capria manages assets worth more than $200 million across its funds. It announced a collaboration with AC Ventures to invest in Indonesian businesses in 2021.