Genesis Alternative Ventures, a private venture debt fund in Singapore, has secured an undisclosed amount of investment from American global investment fund Capria, as it looks to double down on investing in impact-focussed startups.
The firm, founded in 2018, has invested in a significant and diverse number of startups till date, including cybersecurity company Horangi, coworking space GoWork, co-living startup Hmlet, cloud-based platform Matterport and mobile connectivity company Lynk Global.
Moving forward, Genesis plans to leverage on Capria’s expertise in impact investing to fund companies that have meaningful objectives such as financial inclusion, sustainability, small business digitisation, and gender diversity as it accelerates its growth across Southeast Asia.
On the other hand, by infusing capital into Genesis, Capria marks its first entry into Southeast Asian waters.
The Seattle-based investment fund’s primary focus has always been in private funds and companies operating in emerging markets.
“The idea of investing for superior financial returns coupled with sustainable impact is catching on in Southeast Asia, and Capria is proud to partner with Genesis to further this wave,” Capria co-founder and managing partner, Dave Richards said in a statement.
Also Read: MC Payment takes controlling stake in Genesis to tap into Chinese commerce
“Until recently, ‘impact investing’ was very nascent and mostly associated with concessionary financial returns in Southeast Asia. This has started to change with more leading funds implementing impact strategies to tap into underinvested sectors and companies,” he added.
As the challenges of COVID-19 unravel, Ben J Benjamin, co-founder and partner of Genesis Alternative Ventures, believes that “fleet-footed entrepreneurs can tap opportunities that emerge during a crisis to create
meaningful products and services to be accessible during turbulent times,”.
Dozens of Southeast Asian companies such as Kopi Kenangan, NinjaVan, Nium, and Tanihub have continued to raise investments despite COVID-19 unravelling and ravaging daily life across the globe, cites Benjamin.
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Image Credit: Genesis
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