Impact investing firm Capria aims to raise US$200m this year to deploy in emerging markets. Capria’s network of impact investment funds in LatAm includes Odiseo in Colombia, Performa Investimentos in Brazil, and Pomona Impact in Central America.
(Africa Global Funds) Capria Network, which includes 11 fund managers across 5 continents, is aiming to raise $200m by December 2018, to deploy funds in sectors that make a critical difference to large sections of the population in emerging markets.
“Capria Network is a global collaborative movement – a first-of-its-kind – that brings access to capital, expertise and knowledge resources to create locally-driven and sustainable impact in Latin America, Africa and Asia. We believe change can only be created by supporting local intermediaries who invest in businesses that are directly responsive to the needs and opportunities in their markets,” said Will Poole, Co-founder and Managing Partner, Capria.
“Empowering financial intermediaries to organize globally and invest locally is no small task. We’re fortunate to be supported by International Finance Corporation, UK AID, Jim Sorenson, Bill Gates, Mohandas Pai, and other leaders who share our vision for driving positive change and making money for all of our investors,” he added.
Since launching in 2015, Capria has reviewed more than 450 fund proposals and partnered with 11 fund managers that form the global Capria Network: seven first-time managers, two raising their second fund, and two managers creating their third funds.
The goal of Capria Network is to identify the “missing middle” gaps in local financial ecosystems and make investments that create sustained positive social and environmental impact while delivering market-rate returns to their investors.
Capria supports its partner funds with direct capital investments as well as investments from its network, access to a global network of like-minded fund managers, and deep one-on-one partnering to accelerated growth and increase returns.
Capria Network funds are currently raising nearly $500m to deploy across five key sectors – essential services, healthcare, education, energy and financial services.
Capria is at the forefront of leveraging the collective power of its growing network to advance the impact investing movement, in line with the global goals.
In the first half of 2018, Capria will raise the first tranche of its $100m fund-of-funds for deployment in Capria Network partner funds, investing both in their GPs and as an LP in their funds.
Capria has identified its anchor investors and is actively seeking follow-on investors interested in global diversification across its network.
“Our interactions with the Capria Network have been very useful; we have been able to talk to fund managers about deals, fundraising etc. For instance, we spoke to Unitus Seed Fund about a healthcare deal we were looking at, which is extremely helpful when considering potential investments,” said Chai Musoni, Partner at Vakayi Capital.
Capria Network members are addressing the ‘missing middle’ that exists in each of their markets, often in different areas of capital formation.
Some funds primarily support the growth of SGBs (small and growing businesses); others do early stage VC investing; others do growth equity investing.
Currently, Capria’s Network consists of 45% funds which make early growth private equity investments and 55% funds, which make early stage VC investments.
Applications for Capria’s 6th investment cycle are currently open.
Given the positive reception from fund managers who applied to Capria’s previous investment cycle, Capria will continue to grant every applicant exclusive access to Capria Quantum – a first-of-its-kind proprietary, comprehensive and holistic capabilities assessment tool available globally.
Fund managers can use this tool to assess themselves against eight primary categories comprised of more than 75 different sub-elements that are paramount for building a world-class investment firm.
Capria Quantum was designed using insights and learnings from 12+ years of fund creation and management activities as well as Capria’s experience evaluating over 450 fund managers globally.