Rali Cap, an early-stage venture capital firm focused on emerging markets, has launched a $30 million fund.
Investors who took part in the funding include FT Partners, Breyer Capital, Propel VC, Better Tomorrow Ventures, Bain Capital, Lateral Capital, a few family offices, and HNIs.
The firm invests in B2B and API-first fintechs across Africa, Latin America and South Asia at pre-seed and seed stages. It aims at achieving a second close by the end of June.
The firm has nearly 240 individual Limited Partners. They include executives and managers from Wave, Block, MercadoPago, Rappi, Flutterwave, Yoco, Visa, Plaid, Stripe and Coinbase, and e-commerce platforms like Jumia and Shopify. About 40% of these are based in the U.S., while the rest are spread across Africa, Latin America, and Southeast Asia, where the firm deployed more than $6 million in 2021.
Since its inception in 2020, Rali Cap has backed 12 African startups, 13 Latin American startups, and 7 Asian startups. They range from banking-as-a-service and card issuance players, to open finance and SME digitization platforms. These include Belvo, Mono, Stitch, Union54, Pomelo, Simetrik, Brick, and Abhi.
Rali Cap invests between $200,000 to $500,000, and tends to lead pre-seed deals and participate in seed rounds.
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