Capria, a global investment firm advancing the next generation of local impact fund managers in emerging markets, has agreed to invest in Lateral Capital, a fund manager, operating in Africa, who has joined Capria Network.

“We’re excited to welcome Lateral Capital into the global Capria Network,” said Will Poole, co-Founder and Managing Partner of Capria. 

“In our highly-selective partnering process, we look for fund managers who bring local knowledge and best practices not only to their own investing operations, but also to the entire network. Every Capria Network member we add makes the entire network smarter and stronger,” he said.

Lateral Capital is advancing patient capital into tech-enabled businesses that are profitably solving pain points across financial services, healthcare, education, renewable energy and housing through their $50m Lateral Africa Opportunities Fund. 

The Fund will make debt and equity investments ranging from $250,000 to $5m. 

“In less than two years, Capria has utilised its decades of global investing experience in successfully bringing together 5 partner funds across the continent, to come together to contribute to Africa's growth in a sustainable way. We are excited to be part of driving this change,” said Steven Grin, Managing Partner, Lateral Capital.

Since launching in 2015, Capria has reviewed more than 425 fund proposals and selected 11 fund managers who form the Capria Network.

The 11 funds in the Capria Network will be deploying capital across 15 countries primarily targeting investments in sectors such as essential services, healthcare, education, energy and financial services. 

Collectively, over time the funds being raised will result in more than $400m being deployed to entrepreneurs building businesses that provide strong financial returns and measurable benefits to local communities. 

The Capria Network currently consists of four fund managers with previously-raised assets under management and seven first-time fund managers.

Dave Richards, co-Founder and Managing Partner of Capria, said: ”In 2017, our partner funds have already completed eight investments in their respective geographies with more than a dozen more expected in 2018. This is a testimony to Capria’s growing momentum in filling the "missing middle" in emerging markets by leveraging the collective power of our network to mobilize $400m in local and global capital over the next 5 years.” 

Capria anticipates existing Capria Network members to close additional deals in Brazil, Colombia, Cote d’Ivoire, Senegal, South Africa, India, and Nigeria by Q1 2018.

Capria has also announced that applications for the fifth investment cycle are currently open. 

For the first time, every applicant will also get free access to Capria Quantum - a first-of-its-kind proprietary, comprehensive and holistic capabilities assessment tool. 

Fund managers can use this tool to assess themselves against eight primary categories comprised of more than 75 different sub- elements that are critical for building a world-class investment firm. Capria Quantum was designed using insights and learnings from more than 12 years of fund creation and management activities, Capria's experience evaluating over 400 fund managers globally, and feedback from leading LPs. 

Over the course of its fifth investment cycle, Capria seeks to invest in 3-5 additional fund managers from Africa, Latin America and Southeast Asia, though consideration will be given to all qualified fund managers from emerging markets around the world.