As 2024 wraps up, we’re reminded of Thomas Edison — the man who turned 10,000 “failures” into one world-changing light bulb. “I have not failed,” he said. “I’ve just found 10,000 ways that won’t work.”
This year, like Edison, we measured success not by perfection but by perseverance. We tackled challenges head-on, turning setbacks into stepping stones. We traveled the globe—ideating, innovating, and unlocking opportunities in emerging markets. We watched passionate founders rise, portfolio companies thrive, and new milestones take shape.
We learnt, we grew, and took bold strides towards a stronger future. Looking back on 2024, we are excited for our wins — achieving exits, building funds, and growing portfolio companies. But what we want to truly celebrate is resilience: the backstage efforts that let us showcase this exciting highlight reel.
Let’s take a whirlwind tour of the incredible year that was!
Portfolio Power
2024 saw a triple whammy of success! We celebrated a full-cash exit from Awign, proving the immense potential of our portfolio companies. Simultaneously, we closed our India Opportunity Fund at INR 153 crore, fueling our mission to back innovative AI startups across the Global South. Also, our portfolio company, Nigerian fintech Moniepoint, raised $110mn in funding, becoming the 8th unicorn in Africa!
We saw many other portfolio companies take center stage — from Masai‘s educational AI forging prestigious partnerships with IIT to wagely’s Earned Wage Access (EWA) program making significant strides in financial inclusion in Southeast Asia, culminating in an invitation to consult on crucial Bangladeshi banking reforms.
It doesn’t end there! Kueski reinforced its position as a leading payment solution in Mexico and reached a significant milestone, processing over 1 million transactions on Amazon; New Street Tech was recognized as one of the 40 fastest growing fintechs in Asia Pacific; and two portfolio companies — Agrofy in Argentina and DriveU in India — celebrated 9 years of contributing to their fields.
Along with wagely, our new investments in 2024 include Agrizy (India), leading the AgriTech charge, BFree empowering financial freedom in Africa, and goFlux, the Brazilian LogFintech leader, digitizing and financing agri-freight in Brazil. To further fuel their growth, we also re-invested in Wify (India) and SuperMoney (India) this year, doubling down on their disruptive potential.
Founders Corner: Leading the Charge
At Capria, we back founders with limitless aspirations and truly believe they are the real heroes of this story of innovation. Prateek Shukla of Masai made it to Entrepreneur Magazine’s “35 under 35” as well as the prestigious “BW Education 40under40” list, while Tosin Eniolorunda of Moniepoint received global media attention for their fundraising success. These are just two examples of our founders’ incredible leadership and vision.
GenAI Showcase: Pushing the Boundaries
While we can’t reveal all the secrets in our Generative AI lab, we’ve been thrilled to support our portfolio companies in ensuring they are at the forefront of the AI revolution — we’ve helped them prototype new solutions, forge partnerships with tech giants like Microsoft and Meta, and expand their market reach. 5C‘s partnership with NVIDIA promises to unlock exciting possibilities in radiodiagnostics, and LearnTube.ai‘s showcase at Google Demo Day is a testament to their cutting-edge product.
BharatAgri, meanwhile, continues to thrive — getting featured in Google Play’s Startup Spotlight and the Thinkschool Podcast.
Every company in our portfolio is making a positive impact, one AI-powered solution at a time.
Partner Insights: Spreading the Word
Our partners haven’t just been busy nurturing portfolio companies and closing deals; they were also adding knowledge and value to the ecosystem through their travels and engagement. From Dave Richard’s insights at DealStreetAsia’s PE VC summit to Surya Mantha’s impactful presence at SuperReturns Singapore and Mobola Da Silva championing inclusivity at Women Who Build Africa, the Capria leadership team was at the forefront of industry discussions.
Susana Garcia-Robles shared her expertise in El Financiero, while Will Poole, Surya, and Dave added their voices to the conversation through publications like Inc42 and Deal Street Asia.
To close the year, Surya gave a rousing speech at an exclusive event in New York, poignantly articulating India’s immense potential and reiterating technology’s critical role in its incredible growth story.
Inside CapriaVerse: Expanding Horizons
We also expanded our footprint, with partners venturing beyond our usual haunts in the Global South, with trips to Japan, the GCC, Latin America, and the US, building a robust network to further fuel collaboration and innovation.
From their travels, they brought back many valuable insights – read them here!
Looking Ahead: A Future Powered by GenAI
As we step into 2025, we are charged by our commitment to keep doing what we do — identify and support the next generation of groundbreaking AI startups in the Global South. We invite you to join us on this incredible journey. Stay tuned for more updates, insightful content, and perhaps even a few friendly AI-generated surprises!
Thank you for reading. Please feel free to write to us with your feedback, suggestions, or any other information.
Cheers,
Marketing Mavericks at Capria
