Capria Attracts Global Interest from Aspiring Fund Managers across Six Continents to Participate in Accelerator for Impact Fund Managers
Interest from over 100 aspiring fund managers looking to address the “missing middle”; World-class experts and advisors commit to support the effort; Applications close 31st October.
San Francisco, CA, at SOCAP, October 7, 2015 – Last month, Capria announced the launch of the first global business accelerator for impact fund managers. Only three weeks after the official launch, application requests have piled in from more than 100 fund managers spanning 30 countries. At the same time, Capria’s list of world-class advisors continues to grow. Capria is the newest venture for Will Poole and Dave Richards, co-founders of Unitus Ventures (formerly Unitus Seed Fund), the leading venture seed fund investing in startups innovating for the masses in India. Their acceleration approach for new impact fund managers has similarities to the approach taken by accelerators working with B2B or B2C companies but is customized to meet the unique needs of those launching an investment fund. Over the series of five phases that support new managers from launch to full-scale fund execution, Capria partners with fund management teams to provide capital, business support and connections to a global network.
Capria will select up to five fund management teams for its first cohort, with the application period ending on October 31, 2015. Learn more: https://capria.vc
Scaled approach to addressing the “missing middle” capital gap in most markets
Given the widespread interest to address the global deficit of early-stage risk capital, could this so-called “missing middle” be a thing of the past? Capria believes it should be and aims to play its role addressing the issue by accelerating up to 40 financial services entrepreneurs setting up early-stage venture funds over the next three years. Capria would like to see at least 10 new impact funds launched which in turn will invest in hundreds of companies over their lifetime. Capria believes that more than USD $500M in impact capital could be unlocked based on the efforts of the initial funds that are created through its acceleration efforts.
In order for the impact investment sector to thrive and attract the $1 trillion in invested capital as predicted by the Monitor Group, financial returns must be competitive. Obtaining competitive financial returns through impact investments is a point of contention throughout the investment community. However, a recent report released by the GIIN and Cambridge Associates showed that impact investment funds under $100 million “handily outperformed similar-sized funds in the comparative universe.”
“We have been fortunate to connect with a variety of interesting companies already playing a role in addressing the ‘missing middle’. We’re excited to bring our expertise to the table, as it will take a collective effort to ensure that impact investments continue to attract commercial investors” said Will Poole, co-founder of Capria and Managing Partner at Unitus Ventures (formerly Unitus Seed Fund) in India. “Managing the leading impact venture seed fund in India brought this issue to the forefront for us and we’re very pleased with the response we have seen from people around the world who also want to solve it.”
Capria continues to gain support from world-class experts and advisors
The excitement about Capria is not just limited to potential applicants. Over the past month, Capria has confirmed more than a dozen world-class fund manager advisors who bring a unique mix of geographic and sector expertise. Collectively, Capria’s advisors have previously or currently managed capital in excess of US $2 billion. Advisors that are able to be publicly disclosed now include:
- Ann Short: COO, Unitus Capital (New York City)
- Atul Bindal: former Partner, Khosla Ventures (New Delhi)
- Bill Hughlett: CFO, Voyager Capital (Seattle)
- David Chen: Principal & CEO, Equilibrium Capital (Portland)
- David Munnich: Investment Manager, Investisseurs & Partenaires (Paris)
- Eric Savage: Co-Founder & CEO, Unitus Capital (Bangalore)
- Ganesh Rengaswamy: Managing Director, Accion Frontier Investments Group (Bangalore)
- Jayesh Parekh: Managing Partner, Jungle Ventures (Singapore)
- Kylie Charlton: Co-Founder & Managing Director, Unitus Capital; Chief Investment Officer, Australian Impact Investments (Sydney)
- Lucho Torres: Director, Angel Ventures Peru (Lima)
- Norm Bontje: former Managing Director at Blackrock (Seattle)
- Ross Baird: Executive Director, Village Capital (Atlanta)
Early data shows strong demand for Capria Accelerator across multiple emerging countries
“Given the need Capria is addressing, I’m not surprised that applications are pouring in from new fund managers around the world and I’m excited to be part of the effort,” said Jayesh Parekh, Managing Partner of Jungle Ventures based in Singapore. “I know from first-hand experience how challenging it is to raise your first fund and how getting early support from knowledgeable people is so important.”
“From our experience since 2006 investing in countries including India, Nigeria, Ghana and South Africa, we have met a growing number of capable entrepreneurs building disruptive businesses,” said Wim van der Beek, Founder and Managing Partner, Goodwell Investments based in Cape Town. “I see the opportunity for new locally knowledgeable and networked fund managers who can tap into local capital to invest in promising SMEs.”
“I jumped at the opportunity to work with the Capria team to help find and support first-time impact fund managers in Peru, Colombia, Brazil, Mexico and other Latin American countries,” said Lucho Torres, Director of Angel Ventures Peru based in Lima. “I have seen the startup scene start to blossom over the past few years and the biggest missing ingredient is smart risk-taking seed capital.”
Applications accepted until October 31, 2015 for startup fund managers
Applications will continue to be review on a rolling basis for the first cohort which will include no more than five fund management teams. More details can be found at https://capria.vc/apply.
“There are number of points which make Capria’s value proposition attractive…Partnership at GP level – this is something some LPs would like us to have as we are a 1st time manager,” said one applicant from SE Asia.
About Capria Accelerator
Capria Accelerator is the first global business accelerator for impact VCs. 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