Washington-based investment firm Capria Ventures LLC announced that it has landed $40 million to hold the first close of its $100 million fund.
Capria said that Vulcan Capital invested $20 million to the total fund whereas Omidyar Network, Ford Foundation and Resonance Impact Fund have also participated as new limited partners.
The company added that the vehicle will infuse between $1 to $4 million in fund managers. It plans to expand its network to an additional three to five managers from South and South-East Asia including Indonesia, Philippines, Singapore and India in 2019.
Furthermore, Capria will make an investment of $90 million in fund managers across Africa, Latin America and Asia by 2020.