Impact investor Capria announces first close of $100m fund at $40m

Photo: Mint

Investment firm Capria Ventures Llc Wednesday said it has raised $40 million to achieve the first close of its $100 million fund.

Vulcan Capital, the investment arm of late Microsoft founder Paul Allen, has committed $20 million to the total fund, Capria co-founder and managing partner Will Poole said over the telephone.

Omidyar Network, Ford Foundation and Resonance Impact Fund have also come on board as new limited partners (LPs) at Capria.

Seattle-based Capria Ventures, which invests in venture capital, private equity, and other debt and equity funds backing early-growth businesses through its network fund, has earmarked 33-40% of the total $100 million for Asian markets.

Founded in 2015, Capria Ventures operates as a global impact investment firm.

It manages venture capital funds and provides seed and early stage capital to start-up fund managers, investing in healthcare, education, financial technology, mobile and consumer, retail and e-commerce, and agriculture sectors.

Capria has more than 16 fund managers across the globe.

The company is partnering with and investing in fund managers in Asia. It aims to expand its network to an additional three to five managers from South and South-East Asia including Indonesia, Philippines, Singapore and India in 2019.

Founded by David Richards, Will Poole and Jack Knellinger, Capria works closely with its fund partners to build and execute strategies for investments.

“As a fund of funds, we will invest between $1-4 million in fund managers,” said Poole. “Also, the one thing that is common between all our fund managers is mass consumer opportunities and much more than only looking at B2B.”

The firm has also hired a regional director to lead outreach to new partners and to support the regional effort for South and South East Asia.

In addition, Capria will make a cumulative commitment of $90 million in fund managers across Africa, Latin America and Asia by 2020.

Capria, backed by Bill Gates Investments and former Infosys CFO Mohandas Pai, currently has $269 million in assets under management (AUM). It plans to grow its AUM to $750 million by 2020.

Institutional funds including International Finance Corp. (IFC) of the World Bank Group, UKAis and Pfizer were also limited partners to Capria’s pilot fund until last year.

Capria is looking to raise its next close of the $100 million network fund by the middle of next year, said Poole.

Also Read:

Impact investor Capria hits first close of $100m emerging markets FoF

Nuveen acquires 25% stake in Indian impact investor Aavishkaar-Intellecap for $32m

This article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.