Capria targets $100m for emerging markets fund-of-funds

According to a release, the International Finance Corporation (IFC) is set to provide up to $13 million. Capria, which operates regionally via offices in India, has described the vehicle as a "network fund" that will invest in and partner with next-generation impact fund managers across emerging markets including South Asia, Southeast Asia, Africa, and Latin America. The fund will target managers with ticket sizes in a range of $500,000 to $3 million.

"Capria's continued engagement with IFC shows that we are on the right path and addressing some of the most pressing issues in profitable capital deployment in emerging markets," Will Poole, a managing partner at Capria, said in a statement. "We will soon be able to announce a number of other leading family office and foundation investors joining our second Capria Fund, similar to how we worked with Jim Sorenson, Sall Family Foundation, Bill Gates, Mohandas Pai, Ceniarth, and others who supported Capria's first fund."

Capria was established in 2012 to develop scaled and profitable risk capital funds to address the "missing middle" market opportunities. It spun out from Unitus with a mandate to manage the $23 million Unitus Seed Fund, which started a year earlier as a pilot initiative in India targeting a range of sectors including healthcare, education, and consumer.

The firm launched a $5 million accelerator fund in 2016 that was backed by IFC. It aims to grow its current assets under management of $260 million to more than $1 billion during the next two years.

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• Topics
• South Asia
• Southeast Asia
• Fundraising
• LPs
• Venture
• USA
• India
• IFC
• seed