Capria VC, a global venture firm with $207 million in assets under management, has invested in 17 fund managers globally, giving it indirect exposure to nearly 400 portfolio companies. The firm has directly invested in 41 startups, with a focus on fintech, agtech, and jobtech in Africa.

In an interview with TechCabal, Mobola da Silva, the Africa partner at Capria, explained that the firm's unique model is powerful because it gives them broad access to market insights. "It's a huge data set, which benefits both us and our portfolio companies," she said. Capria's African partners include Global Ventures, Lateral Frontiers, and Atlantica Ventures.

Da Silva joined Capria in 2023 as a venture partner before transitioning to a partner in 2024 and relocating from Lagos to Nairobi to strengthen Capria's on-ground presence on the continent. With 14 years of experience working at the intersection of venture capital and emerging markets, da Silva has a deep understanding of the African startup ecosystem.

Capria invests $1-3 million in startups, with capital reserved for follow-on investments. The firm has directly invested in six African startups, focusing on sectors driving large-scale impact and innovation, such as fintech, agtech, HRtech/jobtech, edtech, healthtech, and B2B SaaS. "These industries represent key areas where technology and entrepreneurship can create transformative solutions in emerging markets," da Silva explained.

Capria's portfolio includes Moniepoint, Paymob, and Seamless HR, and it has invested alongside Global Ventures in MAX. The firm's indirect portfolio includes LipaLater, Klasha, and Figorr, among others in Africa. In addition to its investment strategy, Capria also has a unique support approach, with an in-house AI team comprising four developers, founding partner Will Poole, and a member of its support team.

The AI team is a resource available to all of Capria's portfolio companies, providing support with implementing AI in their businesses. "Any company can approach us and say, 'We're thinking of implementing AI in this way, but we have challenges – how can you help?' They don't have to use the AI team, but it's an option," da Silva said.

When evaluating startups, Capria prioritizes exceptional teams, strong revenue traction, and compelling unit economics that demonstrate long-term viability. The firm also focuses on companies operating in large and growing markets, ensuring they have the potential for significant market share. Additionally, Capria looks for startups applying AI in meaningful ways to enhance their businesses.

In terms of its investment strategy, Capria's limited partners have minimal influence, and the firm focuses on Series A tech-enabled companies in key sectors. Capria also prioritizes strong corporate governance and financial controls within portfolio companies, which helps ensure transparency, accountability, and efficient use of capital.

Da Silva emphasized that Capria's strategy is to invest in startups with robust financial strategies, operational resilience, and strong leadership teams. The firm believes that applied AI and agentic AI will be game-changing for startups in resource-constrained environments like Africa.

Despite global economic challenges, Capria remains optimistic about the venture capital outlook in Africa. The firm believes that both startups and investors have become more disciplined, focusing on strong business fundamentals and a realistic path to growth and profitability.

In conclusion, Capria VC's unique model and focus on fintech, agtech, and jobtech in Africa make it an important player in the continent's startup ecosystem. With its in-house AI team and emphasis on strong corporate governance, Capria is well-positioned to support startups in achieving sustainable growth and profitability.