Unitus Ventures combines with Capria Ventures to form single entity

Early-stage technology venture capital firm Unitus Ventures has combined with its global affiliate Capria Ventures to form a single multi-stage investment firm.

Unitus Ventures combines with Capria Ventures to form single entity

Wednesday September 20, 2023,

2 min Read

Bengaluru headquartered early-stage tech investor Unitus Ventures has announced that it will combine with its US-based affiliate venture capital firm, Capria Ventures. With the move, the combined entity will be a multi-brand, multi-stage portfolio entity. 

The combined Asset Under Management for the new entity will stand at $188 million, though the funds continue to be owned separately. 

As part of the development, Surya Mantha, Managing Partner at Unitus, has joined Capria as Managing Partner.

While Dave Richards and Will Poole continue to be Managing Partners at Capria Ventures, Srikrishna Ramamoorthy, Senior Partner at Unitus, will join Capria as Venture Partner for the India region. 

“The decision to merge the Unitus Ventures brand with Capria Ventures was made to better reflect our strategic direction to leverage GenAI, support global firm growth objectives, and strengthen our capabilities as a Global South specialist venture capital firm, providing better support to the founders we work with,” said a statement issued by Capria Ventures. 

It added that Capria’s focus in India will span Seed and Pre-Series A, as well as Series A rounds. Outside of India, Capria will continue to invest in early-growth stage companies in the Series A and bridge rounds. 

“Going forward, more than 75% of our investments will be placed in applied GenAI companies. We are also confident that Unitus Ventures’ alignment with the Capria brand and strategy will create more value for founders,” said Will Poole, Managing Partner, Capria Ventures and former Managing Partner for Unitus Ventures. Globally, Capria invests in emerging technology hubs including Mexico City, São Paulo, Buenos Aires, Cairo, Lagos, Nairobi, Bangalore, Delhi, Mumbai, Singapore, Jakarta and Ho Chi Minh City.

The movement will not impact the board seat or stake ownership of portfolio companies of Unitus. Going ahead, the India team of the combined entity will drive strategy and investment decisions for the region across all portfolios. 

Earlier this year, Unitus Ventures announced the first close of its Rs 300 crore Opportunity Fund at Rs 75 crore. The new fund is aimed at infusing growth capital into 39 portfolio companies backed by Unitus Ventures Fund I and Fund II.

Unitus typically backs companies in the space of food tech, edtech, jobs tech, and others. Its portfolio companies include the likes of Masai School, BharatAgri, CueMath, BetterPlace, among others. 

The article was updated to reflect the nature of the partnership.