Capria announces first close of its $100m Global South Fund II

Capria Ventures has announced the first close of its new Global South Fund II, which has a target of $100 million. The fund will focus on investing in 20-25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa.

Investors that participated in the first close include OIP Investment Trust and Gates Ventures as well as several foundations, individuals, and family offices, including Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust and two founders of Pioneer Square Labs.

Speaking about his decision to invest with Capria a second time, Larry Cohen, CEO, Gates Ventures said, “Capria’s Fund II, with its added focus on generative AI and climate technologies, looks to invest in startups at the forefront of innovation, primed to disrupt traditional sectors, forge new industries and propel economic growth in the Global South. We are excited to support the next generation of entrepreneurs focused on the most innovative solutions.”

Will Poole, co-founder and managing partner Capria Ventures said, “In 2023 alone, Global South economies (ex. China) are expected to outpace their advanced economy counterparts by around $100 billion, creating nearly limitless opportunities for entrepreneurs building startups serving those markets. With Capria’s Fund II, we will continue investing in the most promising early-growth tech startups, bringing founders into our collaborative global network.”