After completing its inaugural four-week Intensive, Capria has accepted 3 impact fund management teams into the Capria Network: iungo capital, Vakayi Capital, and Pomona Impact headquartered in Uganda, Zimbabwe, and Guatemala, respectively, said a statement sent to Future Startup.
Interest in Capria has continued to steadily grow from investors and fund managers alike. In just over 6 months since its inception, 89 first- and second-time fund management teams from 31 countries applied to be part of Capria Accelerator, emphasizing the extensive need for “missing middle” capital in emerging markets.
Applications for Capria’s second intensive, to take place this Fall in Seattle, are streaming in steadily in advance of the 30th April deadline.
Capria Accelerator tackles the “Missing Middle” capital gap
Capria Accelerator addresses the “missing middle” capital funding gap for small and fast-growing businesses in emerging markets that are typically seeking to raise $100,000 to $1,000,000 of investment growth capital.
These funding challenges apply to local fund managers as well as to the entrepreneurs they support in emerging markets.
Capria provides up to USD $500,000 in risk capital, significant multi-year acceleration support, and access to a growing global network of fund managers, private investors, and institutional investors.
Fund managers appreciated the depth of practical learning provided by Intensive
“The Capria Intensive program was a terrific experience that greatly improved our thinking around fundraising, investment strategy, and impact goals. We have found a long-term partner with whom to collaborate on rolling out and executing Pomona Impact Fund I,” said Rich Ambrose, Co-Founder of Pomona Impact.
Capria’s kick-off 4-week Intensive lives up to its’ name
Throughout the Intensive, each team had the opportunity to learn from the Capria team, advisors and mentors with relevant experience from more than 10 countries.
They also received critical documents such as sample private placement memos, operating agreements, etc. to help them jumpstart their legal work.
As a culmination to the Intensive, the Cohort 1 participants had the opportunity to present their investment opportunity to a wide array of curated stakeholders and investors from across the Capria Network last week.
“I attended Capria’s first Fund Manager Forum and met the three fund management teams who had just completed a month-long ‘Intensive’,” said Tracy Washington, Program Manager of the International Finance Corporation’s SME Ventures Program. “Having invested in nearly 60 funds in emerging markets over the past 15 years, IFC is intimately familiar with the challenges to launch and grow a new fund in these markets. I was impressed with the fund managers I met. I could clearly see the value Capria Accelerator has provided to them already, as well as the value-added partnership Capria plans to provide over the years as each manager prepares to fundraise, launch, and grow their asset management business.”
“Having worked with the Cohort1 teams over the last four weeks, we are confident that they will be able to source and support the best entrepreneurs in their markets and show financial returns as well as social impact in challenging developing economies over the next few years,” said Will Poole, Co-Founder and Managing Partner of Capria.
Cohort 2 applications are open for just a few more weeks
Capria Accelerator will host its Cohort 2 of fund managers starting in the Fall of 2016. Applications are being accepted from “ready to go” fund managers from across the globe with a particular interest in impact funds targeting Sub-Saharan Africa, Latin America, and South/Southeast Asia. Applications for Cohort 2 are open until April 30th and can be downloaded at here.
Capria Accelerator 2016: Here is the complete list of Cohort 1 Teams
iungo capital is the first impact fund that exclusively provides missing middle finance to small and growing businesses in Uganda and surrounding countries. In these geographies, there are considerable restraints on capital formation especially for businesses with investment needs in between USD 100-500k.
iungo capital invests in high margin/high growth business that already have secure cash flows, are potential market leaders and operate in value add sectors such as agri-processing and light manufacturing.
Pomona Impact scales innovative early growth businesses in Central America that generate positive impact. It has been investing in and scaling small businesses in Central America since 2011 and targets innovative businesses in the essential services sectors - including agriculture, health, education, clean energy, and housing - that improve the lives of those living at the bottom of the economic pyramid.
Building momentum on the Pomona Pilot Fund, it is launching the Pomona Impact Fund I to invest and empower businesses that produce market-based solutions and generate strong financial and impact returns.
Vakayi SME Fund
Vakayi SME Fund provides growth capital to Zimbabwean entrepreneurs operating in the essential services sectors, which are health, housing, education and clean energy sectors.Typically, these are businesses in later stages of development, profitable, cash generative, with the potential to scale operations.
Vakayi Capital seeks to work alongside capable entrepreneurs who are passionate about their businesses and have a strong will to succeed. Besides seeking financial returns from its investments, Vakayi will invest in businesses that deliver meaningful impact.