Leading investors and foundations commit to accelerate the flow of global impact capital on the heels of Capria’s announcement of its 1st cohort of fund managers
February 3, 2016, Seattle, WA: Capria, the first global business accelerator for impact fund managers, launched in September 2015, today announced that it has accepted its first cohort of fund managers, and that leading impact investors and foundations are supporting its ground-breaking fund accelerator. Capria’s second cohort is scheduled for Fall 2016, and applications are now open for fund managers across the globe.
In the two-month application period for Cohort 1, Capria attracted interest from hundreds of fund managers across six continents. Three high-potential teams have been chosen after careful scrutiny of the 65 final applications from 24 countries.
“We are incredibly impressed with the combined professionalism and tenacity we are seeing in fund managers working in very challenging environments,” says Will Poole, co-founder of Capria. “The so-called pioneer gap applies to new fund managers as well as to the entrepreneurs they support. We’re confident that pioneering fund managers who establish themselves in capital-starved markets will deliver superior financial returns and also disproportionate social impact.” Capria is dedicated to developing in-country, indigenous talent to deploy and manage capital. Strong, local fund management organizations are critical to realizing J.P. Morgan’s prediction of $1 trillion in impact capital being deployed by 2020. Capria has initially selected two fund management teams from Africa and one in Central America. The names of fund managers will be disclosed later in the Spring.
The teams will all participate in the inaugural four-week Intensive in Seattle starting March 7. During the Intensive, fund managers will work with Capria and its world-class advisors and mentors to focus on specific areas that will contribute to their success as fund managers, including:
- Global best practices to maximize fundraising efforts and successfully launch a viable impact fund with both local and international investor participation;
- Effectively attracting entrepreneurs and deploying capital to the best firms that are operating at the intersection of profitability and impact;
- Support portfolio companies as they transition from start-up to scale, and generate profits.
As Capria’s accelerator prepares to welcome the next generation of impact investors to Seattle, leading impact investors and foundations have committed to invest in and/or support Capria to help unlock more than USD $500 million in global impact capital over the next 10 years. Some of the first funders of Capria include:
- Bill Gates Investments*
- Crystal Springs Foundation
- Lemelson Foundation
- John and Nancy Sabol Foundation
- Mohandas Pai and Ranjan Pai
- Unitus Labs, and a number of angel investors
“I have long been a proponent of market-based solutions to help improve lives,” says investor and philanthropist Bill Gates. “The Capria accelerator is a great example of this kind of model – it has the potential to help impact investing achieve greater scale and deliver even more significant impact.”
“We’ve backed multiple new fund managers in India over the past 4 years,” said Mohandas Pai, co-founder of Aarin Capital. “We’re firm believers in the importance of helping establish fund managers who will invest capital based on well-researched strategies and a passion for supporting entrepreneurs who will build large, profitable, and sustainable businesses. We’re excited to be investors in Capria, applying similar principles on a global basis.”
“Developing skilled local-market investment managers is essential to scaling global impact investing,” said Jim Sorenson, founder of Sorenson Impact Foundation. “Too many investments are led by international investors with insufficient local knowledge and limited abilities to provide deep mentorship and support to the companies they so want to see succeed. I hope other leading impact investors will join in supporting new impact fund managers coming through Capria Accelerator as they help build this essential global capability.”
| Applications are now open for Capria’s Cohort 2! Deadline: 30 April, 2016
If you are an aspiring impact fund manager looking for a long-term partner to help you successfully invest in and grow impact businesses, we encourage you to apply. Learn more here at https://capria.vc/apply