Singaporean private venture debt firm Genesis Alternative Ventures has added Capria as a strategic investor.
Capria is a global investment fund that is backed by the likes of the International Finance Corporation (IFC), Ford Foundation, Vulcan Capital, Omidyar Network, and Sorenson Impact Foundation. Based in Seattle, Capria invests in private funds and companies in emerging markets that deliver returns and impact at scale. The firm supports tech-enabled companies that provide essential goods and services in sectors such as financial services, healthcare, agriculture and food, logistics, as well as education.
This marks Capria’s first investment in Southeast Asia and in a venture debt fund.
Genesis will leverage Capria’s expertise to identify and provide venture financing to companies with impactful goals like financial inclusion, sustainable food production, and small business digitization, as they scale across Southeast Asia. “The idea of investing for superior financial returns coupled with sustainable impact is catching on in Southeast Asia and Capria is proud to partner with Genesis to further this wave,” said Capria co-founder and managing partner Dave Richards in a statement.
As part of the partnership, Genesis will join the Capria Network, an organization of emerging market fund managers based around the world. The member firms manage assets worth more than USD 400 million, with a presence in 37 countries across Africa, Latin America, as well as South and Southeast Asia.
Genesis was founded in 2019 by Ben J. Benjamin, Jeremy Loh, and Martin Tang to help tech startups accelerate their growth while minimizing equity dilution. Its portfolio includes co-working space chain GoWork, cybersecurity firm Horangi, and co-living company Hmlet. Genesis counts Sassoon Investment Corporation and Indonesia’s bank CIMB Niaga as its blue-chip investors.
Capria’s investment arrives at a time when venture-backed companies are looking to raise funds, said Genesis co-founder and managing partner Jeremy Loh in a statement. “In recent months, Genesis has seen a 30% increase in deal flows from promising companies and founders. We are poised to make another five to six investments in the coming months which will double our portfolio size,” he said.