Capria Raises $100M To Fund AI Startups In India, Southeast Asia, Latin America, the Middle East, and Africa

Capria Ventures, a venture capital firm that specializes in investments in the Global South, has announced the first close of its $100 million fund. This fund will be used to invest in 20 to 25 tech startups in important entrepreneurial hotspots throughout India, Southeast Asia, Latin America, the Middle East, and Africa.

A number of foundations, individuals, and family offices have already backed the new fund in addition to prior institutional investors including OIP Investment Trust and Gates Ventures.

The fund will look for founders who are leveraging generative artificial intelligence's (AI) potential to alter businesses across a variety of industries, with a fresh emphasis on climate startups.

What Is Generative AI

Generative AI is a subfield of artificial intelligence that focuses on building models and algorithms that can generate or create new content, such as pictures, sounds, videos, texts, or even computer code.

The patterns and structures of a particular dataset are learned using statistical approaches by generative models, which then use this information to produce new examples that are comparable to the original data.

In disciplines including art, music, and design, generative AI is frequently employed to develop original designs or automate creative processes. As a way to create fake data for machine learning algorithm training and testing, it is also employed in sectors including banking, healthcare, and cybersecurity.

About Climate Technologies

Climate technologies also known as clear technologies are focused on using natural technologies to reduce the emission of greenhouse gases, increase energy efficiency and promote sustainable growth.

• Batteries and hydrogen fuel cells are two examples of energy storage technologies that are crucial climate technologies because they make it possible to integrate renewable energy into the grid and supply backup power during times of peak demand or power outages.

• Another significant group of climate technology is energy management and smart grids, which enable more dependable and efficient energy distribution while lowering waste and enhancing system efficiency.

• Building technologies may considerably lower the energy use and carbon footprint of structures, including efficient insulation, heating, and cooling systems, as well as energy-efficient lighting and appliances.

• The impact of climate change in the transport sector can be reduced by the use of electric vehicles, more use of Public transport, and also automobiles powered by hydrogen fuel cells. Carbon footprints in his sector could be reduced tremendously by this.

• Natural climate technology can assist in reducing the impacts of climate change on ecosystems and biodiversity. These include Reforestation, soil preservation, and wetland restoration.

• Climate technologies are crucial in tackling the problems caused by climate change, and their development and implementation are necessary for reaching a more sustainable future.

Investment By Capria Ventures In Generative AI And Climate Technologies

Since more than ten years ago, Capria Ventures has made direct investments in significant tech clusters in the Global South, sourcing and generating value for a new wave of companies with the help of its networks and experience.

• With a new emphasis on climate startups, the fund will look for founders who are leveraging the promise of generative artificial intelligence (AI) to revolutionise businesses across a variety of sectors.

• A number of the fastest-growing emerging nations will benefit from Capria's Fund II's early-growth investments in the fintech, mobility/logistics, agtech/food-tech, climate, and job-tech/HRtech sectors.

• This will be done by assisting tech-enabled entrepreneurs that are largely focused on domestically first revolutionary solutions.

• Strong and sustainable businesses have emerged as a result of the company's approach of teaming up with regional managers in the Global South and offering structured mentoring, collaboration, and training.

• With additional funds set aside for follow-on investments, the typical initial cheque size will be between $2 million and $3 million.

• Investments have already been made in firms in Mexico, Brazil, Nigeria, and Egypt, including Kueski (fintech), Agrofy (agritech), MAX (mobility), and Paymob (fintech).

• Fintech startup Alami, agritech company BharatAgri, and jobtech company Betterplace are some of its current investments in India and Southeast Asia.

• The startup ecosystems in Southeast Asia and India are booming and have a tonne of room to expand and innovate. The objective of Capria's Fund II is to fund the most promising early-stage innovation firms in both regions.

• The fund recognises the synergies between these locations and intends to invest in businesses that are at the forefront of innovation and are poised to disrupt established industries and create new ones.

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Who Is Will Poole?

• Will Poole is the co-founder and managing partner of Capria Ventures.

• Poole worked for Microsoft for 12 years, managing the Windows client division and serving as corporate vice president for a program that brought goods to emerging regions.

• Dave Richards, a co-founder of Capria, previously served as vice president of Real Networks.

About Capria's Strategies

With offices in Seattle, Bangalore, Nairobi, and Washington, DC, the family of funds managed by Capria Ventures oversees assets is totaling more than $200 million.

• Companies that are strong and sustainable have emerged as a result of the firm's strategy of collaborating with local managers in the Global South and offering structured mentoring, collaboration, and training.

• Over the next three years, it is anticipated that the economies of the global south would account for 70% of GDP growth.

• Eden Farm, a B2B supply food chain sector, has become a pioneer in its area because to Capria Ventures' consistent support and partnership.

• In June 2020, Capria raised $57 million in funding. The company has ties to Unitus, an early stage, India-only venture capital firm. Three employees work for Capria and Unitus in Seattle out of the 18 they employ globally.

• In the AGC Building on Westlake Avenue, the business just leased new office space.