Capria Ventures, a venture capital firm focused on early-growth startups in the Global South, has announced the first close of its $100 million Fund II.

The fund aims to invest in 20-25 tech startups in regions including Africa, India, Southeast Asia, Latin America, and the Middle East. Investors in the fund include OIP Investment Trust, Gates Ventures, and Crystal Springs Foundation, among others.

The fund will focus on startups leveraging the potential of Generative AI and those in the Climate sector, adding to Capria's existing portfolio of fintech, mobility, logistics, agtech/foodtech, and jobtech/HRtech startups.

Capria's investment strategy involves partnering with local managers in the regions it invests in and providing organized mentoring, collaboration, and training. Capria has already closed investments in promising startups in Mexico, Brazil, Nigeria, and Egypt, including Kueski (fintech), Seamless HR (HRtech) Agrofy (agritech), MAX (mobility), and Paymob (fintech).

The firm has invested in key tech hubs of the Global South for 11 years and is now leveraging its experience and networks to source and create value for a new generation of startups.

The firm's investment approach has led to the emergence of strong and sustainable companies in the Global South. Capria Ventures aims to empower these businesses and pave the way for sustained economic development across the continent.