Highlights:
- Capria Ventures concludes final close of its India Opportunity Fund, securing Rs 153 crore (approximately $19 million).
- The fund aims to back nearly eight breakout portfolio companies in various sectors.
- Initial close announced in February 2023, following merger with Unitus Ventures to form a unified brand.
- Deployed capital from first close into notable startups including Awign, BetterPlace, Cuemath, Eduvanz, and Masai School.
- Successful full-cash exit achieved with Awign’s acquisition by Japanese conglomerate Mynavi Corporation.
- Managing Partner, Surya Mantha, highlights impressive returns with multiple on invested capital exceeding 7X for India Fund II.
- India Opportunity Fund expected to deliver substantial returns to Limited Partners, with over 20% of invested capital set to be returned.
- Capria Ventures focuses on early-stage startups across the Global South, managing assets worth over $207 million worldwide.
Capria Ventures, a venture capital firm specializing in the Global South, has successfully concluded the final close of its India Opportunity Fund, amassing an impressive Rs 153 crore (approximately $19 million). This fund aims to support approximately eight breakthrough portfolio companies, signaling a significant boost for the region’s burgeoning startup ecosystem.
The journey to this milestone began with the fund’s initial close at Rs 75 crore back in February 2023, when Unitus Ventures merged with Capria Ventures to form a unified brand. Since then, the fund has strategically deployed capital from the first close into a select group of high-potential companies.
Among the standout companies benefiting from the India Opportunity Fund’s backing are Awign, a platform offering work-as-a-service, BetterPlace, a workforce solutions provider, Cuemath, an edtech platform catering to K12 students, Eduvanz, an education loan provider, and Masai School, a technology upskilling platform. These companies represent a diverse range of sectors, highlighting the fund’s commitment to supporting innovation across various industries.
One notable success story from the fund’s portfolio is Awign, which recently achieved a full-cash exit following its acquisition by Japanese conglomerate Mynavi Corporation. Surya Mantha, Managing Partner at Capria, expressed enthusiasm about the acquisition, stating, “Mynavi’s acquisition of Awign not only opens untapped markets and opportunities for the company but is also a great exit for our India Fund II, where we will return more than 50% of the invested capital through this one exit.”
Furthermore, Mantha highlighted the impressive return on investment achieved through Awign, with a multiple on invested capital exceeding 7X for the India Fund II. Additionally, the India Opportunity Fund, which also invested in Awign, is expected to deliver substantial returns to its Limited Partners, with more than 20% of the invested capital set to be returned.
Capria Ventures’ overarching mission is to support early-stage startups across the Global South, spanning regions such as India, Southeast Asia, Latin America, the Middle East, and Africa. The firm focuses on key sectors including fintech, jobtech, edtech, agritech, climate technology, and SaaS companies, managing assets exceeding $207 million worldwide.
As the India Opportunity Fund gears up to empower a new wave of innovative startups, its successful final close marks a significant milestone in the journey toward fostering entrepreneurship and driving economic growth in the region. With a robust portfolio and a commitment to nurturing talent and innovation, Capria Ventures continues to play a pivotal role in shaping the future of the startup ecosystem across the Global South.
