Q4 2024 Updates – In Reverse Order

December: Portfolio Highlights, Capria in the News, Partners on the Road

Keeping you updated on our latest work: our second Global South fund, focused on applied GenAI, already has a well-developed portfolio of 9 companies. With this portfolio about 50% established, you can clearly see how your funds are being and will be deployed. Below, we have exciting updates from three portfolio companies: Paymob (Fintech in Egypt), goFlux (Logtech+Fintech in Brazil)), and Wagely (Fintech in Indonesia).

We’ve also closed our 10th investment — this one in Vietnam in the ag / fintech sector — and are completing a rare and very profitable exit in Nigeria from our Global South fund I. Stay tuned.

Capria Global South Fund II December Update

Portfolio Highlights

• Co-founder of Paymob, Islam Shawky, was invited to a roundtable with the Prime Minister of Egypt to discuss domestic developments in the FinTech. The discussion led to the Egyption government allocating USD 5 Billion for FinTech investments. Paymob is the leading fintech platform based in Egypt. It is an omnichannel platform that facilitates online merchant payments.
• Following their USD 6M Series A round led by Capria earlier this year, goFlux has been making significant progress. Based in Sao Paulo, goFlux is a SaaS marketplace that digitizes freight exchange. Its ecosystem of products optimizes interactions through specific carrier-shipper tools that include receivable financing, tendering facilities, carbon offsets, and more. In this interview, founder Rodrigo Conçalves discusses his journey at goFlux, and his prior career in logistics. P.S. Turn on subtitles for an English translation.
• Indonesia-based wagely, is a financial well-being platform offering Earned Wage Access (EWA) services to blue-collar workers. Since inception in 2020 they have expanded to several South East Asian countries. This week, they surpassed 13,000 workers on their platform, a significant milestone in their journey.

Founders in the News

• Adetayo Bamiduro, co-founder and CEO of portfolio company MAX, was interviewed by CNBC Africa. He discussed his vision for the future of green transport infrastructure on the continent. You can listen to his thoughts here.
• Chief Data Officer of Kueski, a BNPL and digital payments leader in Mexico, was interviewed by Digital Journal. He discussed how AI drives financial inclusion in Latin America and how Kueski uses AI in its operations. You can find the interview here.

Insights from Capria Partners

• Our partners have been incredibly busy with travel, fundraising, deal sourcing, and overall ecosystem building. Last month, we sent out an article written by our managing partners discussing their learnings from the road. They also discussed developments of the past year in their regions of expertise: Latin America, Africa, India, and South East Asia. You can find the article here.
• Managing Partner Susana Garcia-Robles wrote an opinion piece for El Fiancero (the leading Mexican financial newspaper). She discussed her experiences pioneering the Latin American VC ecosystem since 1999; how it has evolved, and Capria’s involvement.

November: Portfolio Momentum, Forbes Feature, Insights from Our Partners

Keeping you updated on our latest work: Below we have exciting updates from three portfolio companies: Wagely (Indonesia), MAX (Nigeria), and Kueski (Mexico). In other news, our Managing Partner Susana was interviewed by Forbes; Co-founder Dave wrote an exciting article for e27 about Southeast Asian startups; and Mobola, Partner and Africa lead, spoke at Angel Fair Africa.

Capria Global South Fund II November Update

Portfolio Highlights

• Wagely, a Jakarta-based financial wellbeing platform founded in 2020 is making strides in international markets. They are now the number one earned wage access (EWA) provider in Bangladesh, as well as their home country of Indonesia. Wagely has also been recognized as “One of 50 Tech Startups To Watch in Southeast Asia” by the Founders Forum Group.
• MAX, a mobility-tech platform based out of Nigeria, partnered with PASH Global to invest USD 10 million into developing EV charging infrastructure across urban centers in Africa. The initiative will support the adoption of electric motorcycles, three-wheelers, and cars, addressing transportation challenges and driving greener, more inclusive urban mobility solutions in Nigeria.
• Kueski, a BNPL and digital payments leader in Mexico, just surpassed an exciting milestone. Kueski has given out 20 million loans, doubling growth over the past 18 months.

Capria in the News

• Managing Partner Susana Garcia-Robles was interviewed by Forbes. She discussed the evolving landscape of Latin American VC. She also spoke about the challenges facing startups in Latin America, opportunities on the horizon, and women in entrepreneurship.
• Mobola Da Silva, Partner and Africa lead, was on an all-female panel at Angel Fair Africa. The panel discussed prevailing issues in gender equality in enterpreneurship in Africa and the path towards a more equitable future.

Insights from Capria Partners

• Managing Partner, Dave Richards wrote an article for e27 discussing South East Asian startups. He emphasizes the reasons why they should prioritize profitability over rapid scaling. You can find the piece here.
• Susana Garcia-Robles was on a panel titled “LatAm: Challenges and Opportunities” at Foro Inversiones in Buenos Aires. Having been entrenched in the Latin American VC ecosystem for 20+ years, Susana also attended several other events during Buenos Aires Tech Week. You can find her rundown of the week here.

October: Portfolio Highlights, Capria In The News, Partners in Singapore

Keeping you updated on our latest work, we are pleased to share that our Global South Fund II portfolio company, Agrizy, successfully closed its Series A round. We also have exciting updates from other portfolio companies, Wagely and MAX. We also share updates from our co-founder, Dave Richards, and Managing Partner, Surya Mantha, from Singapore. Both of them were speakers at different conferences and have insights to share.

Capria Global South Fund II October Update

Portfolio Highlights:

• Agrizy, a B2B agri-processing platform, closed its Series A funding at $9.8 million, led by Accion, Omnivore, and Capria Ventures. The Press Trust of India quoted our Managing Partner, Surya Mantha; you can find the release here. He discusses their recent performance and successful raise.
• Wagely, a financial well-being platform that allows workers access to a portion of their paycheck before their payday, announced 2 new partnerships with PDS Limited and GoodEarth Apparels Limited. GoodEarth Apparels and PDS are global end-to-end apparel sourcing and manufacturing platforms.
• Adetayo Bamiduro, CEO of MAX, a company that’s powering eco-friendly mobility through high-performance electric vehicles in Africa, was interviewed by Barbara Iyayi on the Trajectory Africa Podcast.

Capria in the News

• Iupana, a leading financial publication in Latin America, published an article detailing trends in Latin American Venture Capital. Capria was mentioned as a leader in AI investing on the continent. You can find the full article here.
• Dave Richards was featured in a DealStreet Asia article discussing the Southeast Asian VC ecosystem. The article can be found here.

Insights from Capria Partners:

• Capria Co-Founder Dave Richards spoke at the recent DealStreet Asia PE-VC Summit in Singapore. The panel discussed slowing exits in the VC ecosystem and their subsequent impacts on startup fundraising.
• Capria Managing Partner Surya Mantha was a speaker at the SuperReturn Asia Conference in Singapore. The panel discussed valuations in the startup ecosystem when they expect them to recover, and what can be learned after valuations have been slashed over the past few years.