US-based venture capital firm Capria has launched a global accelerator programme for impact VCs. Yes, that’s a VC-cum-accelerator for VCs.
Claiming to be the first of its kind, the initiative aims to support and help catalyse new fund managers backing startups primarily in markets including South Asia, Southeast Asia, Africa and Latin America.
Founded by Will Poole and Dave Richards Unitus Seed Fund, which focuses on India, the pair has a track-record of 15 years in supporting startups, which have collectively raised over US$1.2-billion within the last 15 years.
“Current trends indicate that over the next decade that there will be hundreds of early-stage impact funds setup across the globe,” said Richards in a press release sent to Ventureburn.
Capria provides startup VCs with risk capital, systems and tools, fundraising support, investment evaluation support, and access to a growing global network of impact VC managers.
The organisation is also establishing itself as an institutional knowledge partner and plans to set up more than 100 funds globally. The firm will provide operations support and give fund managers insider access to data and knowledge.
“We are excited to invest in financial entrepreneurs setting up these new funds and to help them get to market up to a year faster with lower risks and higher investor confidence,” Richards added.
Poole elaborates on the newly launched accelerator’s vision:
Capria Accelerator is addressing a huge market opportunity… high-quality startup fund managers with significant local business and investing expertise who are tapping into interest from both global and local capital. And even more importantly, we are building an international network of startup VCs supporting and sharing insights, referrals and experience with each other, and helping their portfolios thrive in a global marketplace.
Applications close on 31 October 2015 for the first programme cohort which will include no more than five fund management teams. For more information, visit the Capria website here.