Capria Ventures Marks First Close Of $100 Mn Fund, To Invest In Generative AI & Climat-Focused Startups

SUMMARY

The new fund will focus on investing in 20-25 tech startups across India, Southeast Asia, Latin America, the Middle East, and Africa

It will focus on startups harnessing the potential of Generative AI to grow across multiple sectors, as well as climate startups

Capria Ventures is a global venture capital investment platform focused on early-growth startups in India, SE Asia, Africa, and Latin America

Global venture capital firm Capria Ventures has marked the first close of its target $100 Mn fund. The new fund will focus on investing in 20-25 tech startups across India, Southeast Asia, Latin America, the Middle East, and Africa.

The fund has been anchored by limited partners such as OIP Investment Trust and Gates Ventures as well as foundations, individuals, and family offices, including Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust and two founders of Pioneer Square Labs.

It will focus on startups harnessing the potential of Generative AI to grow across multiple sectors, as well as climate startups, the VC firm said in a statement.

Will Poole, cofounder and managing partner of Capria Ventures, said, “In 2023 alone, Global South economies (ex. China) are expected to outpace their advanced economy counterparts — by around $100 Bn –, 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.”

Capria Ventures is a global venture capital investment platform focused on early-growth startups in India, SE Asia, Africa, and Latin America. Capria’s family of funds collectively manage assets exceeding $200 Mn. Capria has offices in Seattle, Bengaluru, Nairobi and Washington DC.

The announcement of the fund’s first close comes at a time when the Indian startup ecosystem is witnessing a drastic decline in funding owing to funding winter, macroeconomic factors. However, early stage startups have witnessed less impact compared to growth- and late-stage startups in terms of funding.

In Q1 2023, Indian startups raised a total of $3 Bn, which was a 75% decline from the $12 Bn raised in the corresponding quarter of the previous year, as per an Inc42 report. While seed stage funding saw an 81% year-on-year (YoY) decline, it had the highest deal count at 102 among the various stages of funding.