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.
The Malian industrial conglomerate Ibi Group, known for its work in aviation, renewable energies, and irrigation systems, has expanded its operations into the urban transport sector with the launch of a new subsidiary, Angata.
MTN Rwanda is taking a groundbreaking step towards environmental responsibility with the launch of the nation’s first-ever paper-based, biodegradable SIM cards, dubbed “bioSIMs.”
Pan-African telecommunications leader, Paratus Group, has announced its expansion into Kenya through a joint venture with Nairobi-based IT and Internet Service Provider (ISP), MoveOn Telecoms Ltd.
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