38604 - Capria Acc. Fund

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Summary of Investment Information

Project Number

38604

Company Name

CAPRIA ACELARATOR FUND, LP.

Date SPI Disclosed

Jul 15, 2016

Country

World Region

Region

Global

Projected Board Date

Aug 15, 2016

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Disruptive Tech, Service & Funds

Industry

Funds

Previous Events

Approved : Jul 17, 2017
Signed : Sep 23, 2016
Invested : Jul 20, 2017

Sector

Small Business Fund

Project Description

Capria Accelerator Fund (“Capria Fund or “the Fund”) is targeting $5 million of commitments to invest in, and catalyze, early-stage local fund managers in Sub-Saharan Africa, South/South-East Asia and Latin America that will be targeting financial returns and positive societal impact.

Associated Advisory Engagement

IFC’s advisory engagement will focus on: i) helping Capria’s expansion strategy into its three target regions; ii) supporting Capria with US$480,000 of conditional grants to be applied to operating expenses for its first 3 years; iii) providing expertise and support to Capria where necessary; and iv) providing support on the relevant regulatory framework in the three target regions.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	250.0

Development Impact

E&S Category Rationale / Risks and Mitigation

The project has been categorised as FI-2 according to IFC’s Environmental and Social Review Procedures. The Capria accelerator fund is expected to focus on investing in emerging market funds with mostly medium risk sectors that are considered to have limited E&S risks and impacts which can be readily addressed through mitigation measures. The key risk in this project is ability of Capria Fund Manager to ensure the capacity and capabilities of its fund managers to identify and manage the E&S risks associated with the activities of their portfolio companies in line with IFC’s policy requirements. The applicable requirements are the Exclusion List and the National E&S Laws in the countries where portfolio companies are located.

The main E&S risks and impacts of this project relate to the ability of the Fund Manager to conduct adequate E&S due diligence and monitoring to identify and manage the E&S risks associated with the activities of the emerging market funds in line with IFC’s policy requirements. Capria is a generalist accelerator fund with no sector-specific focus to its portfolio funds. The fund’s pipeline includes companies in education, healthcare, logistics, agriculture, mobile and financial technology services sectors. The fund is expected to mostly focus on medium risk sectors. The Fund has no E&S risk management system in place. The Fund Manager will be required to nominate an E&S officer and implement an Environmental and Social Management System that ensures that all Funds in its portfolio have an efficient ESMS in place to manage the E&S risk of their underlying portfolio companies. In addition, the Fund Manager will be required to provide E&S risk management training to the Capria Fund investment team and ensure E&S risk management training with its emerging market funds.

Contacts

For Inquiries About the Project, Contact

Michael Newman
Vice President
Capria & Unitus Seed Fund
+1-206-390-6317
Unitus Seed Fund - usf.vc - Activating markets for the masses in India
Capria Accelerator - capria.vc - First global business accelerator for impact fund managers

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Task Title & Description	Anticipated Completion Date
Nominate officers	10/31/2016
Establish SEMS	10/31/2016
Staff Training	10/31/2016
External Communication Mechanism	10/31/2016

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