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 African Development Bank (AFDB) has approved a $21 million financing to support Kenyan youths and women entrepreneurs in agriculture.
Nigerian agritech startup ThriveAgric has joined forces with global payments giant Visa to empower Kenyan farmers.
The funding injection aims to accelerate the expansion of clean energy access across the East Africa region and marks a significant milestone in the company’s mission to drive sustainability and economic growth
© 2021 Empower Africa. All rights reserved.