This $100 Million Fund Backs First-Time Impact Fund Managers
Capria Accelerator is the first global business accelerator for impact fund managers. Their accelerator program invests in, supports, and helps capitalise new fund managers by backing early-stage startups in markets such as Sub-Saharan Africa, South/Southeast Asia, and Latin America.
There is a growing demand for impact investment capital in places like Africa and Latin America. Yet there is little to choose from. There are various reasons for this, but one important one is because first-time fund managers lack track-record. Antony Bugg-Levine, CEO of the Nonprofit Finance Fund comments:
“By definition, when anything is new, you’re going to have to invest with the pioneers.”
Over the next 3 years the $100 Million fund will help raise impact fund managers 1st or 2nd fund by providing $250,000-$500,000 operational or warehouse capital. Capria will also provide access to their Rolodexes and provide some serious training.
Capria sets the bar high, as according to their fund manager they target market rate returns at 15% net (20% gross) over the lifecycle of the fund. They are is inviting and reviewing application during the entire 3rd quarter of 2016. Capria is backed by investors like Bill Gates Investments, Crystal Springs Foundation, Lemelson Foundation, Mohandas Pai and Ranjan Pai of Aarin Capital and the International Finance Corporation (IFC).
Watch their introductory video below or check at their website capria.vc for further details.