Alitheia Identity secures additional funding from US-based investor and accelerator, Capria

29 Jun 2016

Alitheia Identity Managers (Alitheia Identity) announced a partnership with Capria Ventures (Capria), a global impact investment firm that works with local fund managers to accelerate the flow of capital in emerging markets. Female entrepreneurs, women-led and gender-diverse management teams are particularly set to benefit.

Commenting on Capria's selection of Alitheia Identity for funding and support, Anne-Marie Chidzero, Managing Partner at Alitheia Identity said: “Together with the African Development Bank’s (AfDB) commitment of US$12.5mn in the Alitheia Identity Fund, partnering with Capria to access their extensive network and resources will enable me and my colleagues, Polo Leteka and ‘Tokunboh Ishmael, to finance and support growth businesses, particularly those led by women and gender-diverse teams.”

The Alitheia Identity SME Fund is a pioneering Sub-Saharan Africa fund investing in Small and Medium Enterprises (SMEs) with high growth potential realized through efficiency and regional expansion strategies. A key philosophy of the fund is that high performing female entrepreneurs are not present where typical fund managers seek investments, resulting in significant lost opportunity for such entrepreneurs to scale their business and lost opportunity for fund managers to back
formidable high-growth businesses.

McKinsey reports that this gender gap is not just a moral and social issue but also part of a critical economic challenge, with over US$12tn of global GDP growth left on the table.

“Alitheia Identity Fund (AIF) is looking to leverage this missed opportunity to deliver attractive returns for its investors," says 'Tokunboh Ishmael, Co-founder and Managing Partner of Alitheia Identity.

On the announcement of the AfDB Board decision to invest in AIF, the Bank’s Special Envoy on Gender, Geraldine Fraser-Moleketi said: “The project has excellent gender effects that will arise from the increased opportunities for women.”

Capria launched the first global accelerator for impact fund managers in September 2015 and recently announced the launch of Capria Emerging Managers Fund, a US$100mn fund taking anchor LP positions that will invest in equity and debt funds targeting early-stage impact businesses across Africa, Latin America, and Asia.

Capria's financial supporters include Ceniarth, Sorenson Impact Foundation, Bill Gates, Mohandas Pai, and the International Finance Corporation, a division of the World Bank.

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