The new fund will focus on investing in 20-25 tech startups in Africa, India, Southeast Asia, Latin America, and the Middle East. The Global South Fund II aims to generate positive social and environmental impact in sectors such as healthcare, education, financial inclusion, and agriculture.
The fund’s investors include a mix of development finance institutions, family offices, and institutional investors from around the world.
Key among the investors in the fund includes Gates Ventures, the investment vehicle of tech mogul, Bill Gates. Other institutional investors include Crystal Springs Foundation, Inc., OIP Investment Trust, Sall Family Foundation, and Brakeman Family Trust, as well as two founders of Pioneer Square Labs. The Global South Fund II builds on the success of Capria’s first fund.
Africa, the second-largest continent in the world, is home to a diverse array of countries with varied demographics, cultures, and socio-economic landscapes.
MNT-Halan has become Egypt’s first unicorn after announcing a raise of over $400 million securitizationion issuances this year, solidifying its position as a leading player in the region’s financial technology sector.
MTN MoMo, the mobile money arm of MTN Group, and Mastercard have announced a multi-market partnership aimed at expanding access to digital financial services across Africa.
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