Capria Ventures, a Global South specialist venture capital firm, today announced the successful completion of fundraising for its India Opportunity Fund at INR 153 crore (~USD 19M). This comes on the heels of a full-cash exit from its portfolio company Awign.
Capria and other investors in Awign, India’s largest tech-led, on-demand work fulfillment platform, have sold their stake in the company in a buyout by Japanese conglomerate Mynavi Corporation.
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Surya Mantha, Managing Partner at Capria, said, “Awign has the winning combination of a large market, healthy gross margins, and a robust tech platform. 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. The multiple on invested capital for Awign for our India Fund II is >7x. Additionally, our now closed India Opportunity Fund, which also invested in Awign in February 2023, will return more than 20% of the invested capital to its LPs.”
In the Global South (India, Latin America, Africa, and Southeast Asia), Capria Ventures makes investments in entrepreneurs in their early and early-growth stages in a variety of industries, including Fintech, Jobtech, Edtech, Agtech, Climate, and SaaS.
Dave Richards, Co-founder and Managing Partner at Capria, said, “Awign’s growth trajectory is an example of the disruptive innovation in job creation and income generation for Bharat, which is core to our investment philosophy. We’re incredibly proud to have played a role in Awign’s journey from its early days. This rewarding exit reinforces our confidence in our ability to unlock significant value for our investors. We are optimistic that this acquisition will prove to be a milestone for the Indian startup ecosystem and establish acquisitions as a viable exit strategy for early-stage investors.”
About Capria Ventures
Capria Ventures is a Global South specialist venture capital firm investing in applied Generative AI, connecting founders into a uniquely collaborative network.
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