Early-stage venture capital firm focused on emerging markets from Africa, Latin America and South Asia, Rali_Cap, formerly Rally Cap Ventures, has launched a $30 million fund.
Rali_Cap is a two-year old VC investing in B2B and API-first fintechs at pre-seed and seed stages across target markets. By the end of June, the firm seeks to reach the second close of the fund.
Before putting forward a new fund size, signaling a strong LP appetite, the VC reached its first close of $20 million initial target last month.
The limited partners for this new $30 million fund were Breyer Capital, Propel VC, Better Tomorrow Ventures, FT Partners, Bain Capital, Lateral Capital, a few family offices, HNIs and a multibillion-dollar crossover fund also known for investing in smaller funds.
The VC firm has backed 12 African startups, 13 Latin American startups and 7 Asian startups, from across the banking-as-a-service and card issuance, open finance sectors and SME digitization platforms, such as Belvo, Mono, Minka, Stitch, Union54, Pomelo, Simetrik, Brick and Abhi. Some of Rali_cap’s LPs include executives and managers from fintechs such as Wave, Block, MercadoPago, Rappi, Flutterwave, Yoco, Visa, Plaid, Stripe and Coinbase, as well as e-commerce platforms like Jumia and Shopify. Among these LPs, some have taken part in follow-on early- and growth-stage rounds of the startups.
For this new fund, though open for exceptions, Rali_cap targets startups in large markets such as Africa — Nigeria,...
Read Full Story: https://techeconomy.ng/2022/05/rali_cap-launches-30-million-investment-plan-for-startups-across-africa-latin-america-south-asia/
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