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VC Firm Rali Cap Launches $30 Million Fund for Emerging Markets

Eunniah MbabazibyEunniah Mbabazi
May 10, 2022
in Global News, Startups
Reading Time: 2 mins read
VC Firm Rali Cap Launches $30 Million Fund for Emerging Markets

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.

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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.

See Also:

Norrsken, VCs & 30 Unicorn Founders set up $200 Million Fund for Startups in Africa


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