The organization, which seeks to support venture capital funds that invest in projects with social impact, also has the support of Bill Gates.
Shortly before his death, the millionaire co-founder of Microsoft, Paul Allen, made an investment of US$ 20 million in Capria, the accelerator of investment funds that focuses on impact projects led by the former executive of Microsoft Will Poole.
In this way, posthumously, Allen joined his partner Bill Gates, who was one of the main promoters of this initiative that has the Chilean Juan Luis Palma as regional director for Latin America and who has also invested in the local manager FEN Ventures, linked to Cristóbal Silva.
Allen’s investment -which was materialized through Vulcan- will be added to a fund of US $ 100 million fund of funds for social initiatives, in which eBay founder Pierre Omidyar and SAS, John Sall have also invested.
While initially Capria delivered resources for up to US $ 500,000 to the funds, with these new resources it is expected that the contributions will increase to figures between US $ 1 million and US $8 millions.
With offices in the USA, Kenya and Singapore, the organization wants to strengthen its presence in Latin America. They already supported nine funds in the region and the idea now is to continue increasing the figure. So much so, that they have planned the opening of a Latin American office, which will be installed in Santiago.
This is revealed by Juan Luis Palma, who says that the news was confirmed to President Piñera in a meeting that Will Poole and he had with the President a couple of months ago. “It makes a lot of sense for us to open an office in Latin America, from where we can support our funds and be closer to the investors we have in the region, and in Chile we have done very well. The idea is that from Chile we can support the funds of Latin America, “explains Palma.
The office in Chile – which will open in late 2019 or early 2020 – is not the only link Capria has with the country. This, since among the investors of the initiative are José Luis and Catalina del Río, linked to Sodimac and Falabella. “José Luis del Río was one of the first Chileans I wanted to invite to Capria, because in addition to being a great businessman, he was also involved with social aid issues. I met him two years ago in Palo Alto and both he and his daughter Catalina agreed to support us” says Palma, adding that the family is a great contribution to the project, as they have a mix that makes them be linked to both the business world as to the social.
Along with that, progress is being made in the agreement to raise a feeder fund with LarrainVial, which will allow a small group of high net worth investors to invest collectively in the global fund of Capria.
Founded in 2015 by Will Poole and Dave Richards (linked to companies like RealNetworks, Sybase and Symantec), Capria was born after in 2012 both launched the US $ 23 million Unitus Ventures (formerly Unitus Seed Fund) to support startups in health, education and fintech with its focus on vulnerable populations.
With that experience, both entrepreneurs decided to start Capria, to help other managers of novice impact funds and thus help generate an ecosystem of social investment.