Fund Manager Applications for Accelerator “Cohort 3” close on November 11; World Bank’s International Finance Corporation (IFC) invests in Capria to support fund managers investing in the “missing middle” finance opportunity.
San Francisco, CA, at SOCAP, September 13, 2016 – Capria, a global impact investment leader, announced that that it is now accepting applications from emerging market fund managers for Capria Accelerator “Cohort 3” scheduled to start in Q1 2017. Capria also announced that International Finance Corporation, a division of the World Bank, has become an investor in Capria Accelerator Fund, causing the fund to be oversubscribed. The UK government has also become a substantial funder to help Capria expand investments in sub-Saharan Africa and South Asia. Additionally, Capria announced that Juan Luis Palma Dominguez has joined Capria as an Investment Manager to further develop Capria’s investments in Latin America, Africa and Asia.
Capria accelerates fund managers investing throughout Africa and Turkey
The announcement comes as Capria prepares to welcome its Cohort 2 of fund managers, Alitheia Identity Management and idacapital, for participation in its multi-week in-person Capria Accelerator Intensive starting on September 18 in Seattle. The Accelerator program is custom designed to help emerging market fund managers to accelerate launching new early-stage investment funds in emerging markets.
“We saw strong interest for participation in our current cohort, with Alitheia Identity Management and idacapital standing out among the 88 applicants from 36 countries,” said Jack Knellinger, Principal of Capria. “We have continued to see growing interest among fund managers around the world and we’re excited to begin considering teams for our Q1 2017 cohort.”
Capria will select up to five fund management teams for its next cohort, with the application period ending on November 11, 2016. If you are a first or second-time impact fund manager looking for a long-term global partner to help you successfully invest in and grow impact businesses, learn more at https://capria.vc/apply.
Additional investment from World Bank’s IFC and the UK government
In addition to attracting fund managers, Capria has continued to secure investment and support from investors who believe in Capria’s commitment to help unlock more than $500M in global impact capital over the next 10 years. Capria announced that International Finance Corporation (a division of the World Bank) is now an investor in Capria Accelerator Fund. Capria has also confirmed that the UK government is now a supporter, helping expand operations into sub-Saharan Africa and South Asia. Other investors and supporters include Bill Gates (in a personal capacity), Ceniarth, Crystal Springs Foundation, Sorenson Impact Foundation, Unitus Labs, Lemelson Foundation, and Mohandas Pai. The Capria Accelerator Fund is now oversubscribed and will be closed to new investors.
Earlier this year at the Global Entrepreneurship Summit, Capria announced the Capria Emerging Managers Fund, a USD 100 million fund that will invest in equity and debt funds targeting startup and growth-stage businesses across Africa, Latin America, and Asia. Capria’s formal fundraising efforts for Capria Emerging Managers Fund are underway with a first close for the fund targeted for early 2017.
“IFC is looking to invest in fund managers serving early-stage businesses in emerging economies,” said Atul Mehta, Global Director of Private Equity for IFC, part of the World Bank. “We’re pleased to join other leading investors as an LP in the Capria Accelerator Fund which will provide risk capital and capacity building for first- and second-time managers establishing funds that address the global ‘missing middle’.”
“We know the challenges impact funds face in securing initial commitments from investors,” said Dave Richards, Managing Partner of Capria. “The Emerging Managers Fund will complement our existing acceleration efforts and provide even more catalytic financial support to fund managers, expediting their path to final close and capital deployment.”
Capria team continues to expand; Regional visits planned with selection of Cohort 3 underway
Juan Luis Palma Dominguez joined Capria as an Investment Manager and Regional Director of Latin America. He has worked extensively in the public and private sectors to unlock capital for early stage companies in emerging markets.
“We are excited to see growing interest throughout Latin America and continue to build deep relationships with people working on the ground across the regions we’re operating,” said Juan Luis, Investment Manager at Capria. “I look forward to working with impact funds in the Capria Network and connecting with management teams that will join us for future cohorts.”
Capria has additional fellowship and full time opportunities available. If you are interested in learning more about working at Capria, please contact us.
In addition to personnel recruitment efforts, members of the Capria team will be making country visits throughout Sub-Saharan Africa, SE Asia, and Latin America starting in October in order to connect with the most promising fund managers in these regions.
Capria is the first global business accelerator for impact fund managers. Capria invests in, supports and helps capitalize new fund managers backing early-stage startups primarily in markets including South Asia, Southeast Asia, Africa and Latin America. Capria Accelerator was founded in 2015 by the co-founders of Unitus Ventures (formerly Unitus Seed Fund), the leading impact venture seed fund in India. Capria Accelerator is backed by Unitus, a pioneer in incubating financial services firms that address global problems with innovative, market-driven solutions. Capria Accelerator is managed by Capria Ventures LLC and is based in Seattle at Impact Hub Seattle. More at https://capria.vc