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November 2022 Edition

Washington State is commonly associated with tech giants Microsoft and Amazon. I guess what you didn’t know is that Washington happens to be the second largest producer of wine in the USA (after California of course), and in my marginally humble opinion, is also among the best value regions in the world. Washington is great for cycling as well, and combining both is one of my favorite summer activities: wine tasting bike tours! With over 1000 wineries producing 80 varieties of wine, there are plenty of opportunities to pedal for miles between tastes of excellent vino.

Hi Reader, I’m Will Poole, Co-founder of Capria, now on career #3.

I was first a software developer turned serial entrepreneur. Serial because I had 2 failures of the first 4 startups, but the 4th was a big win - we were pioneers in ecommerce and sold to Microsoft in 1996. Career #2 was running various businesses within the then-most-profitable-ever software company, culminating with its most profitable product, the Windows desktop OS. Career #3 is early stage and early growth investing across the Global South.

In the past three decades of working with startups big and small, investing in and mentoring early stage founders is the passion I’m focused on for the foreseeable future. A few bits of advice I’ve provided to founders in the past two years include:

The funding winter will test the resilience and grit of founders. Many of today’s IPOd tech companies were born during downturns. Founders who navigated tough times creatively have built some of the world’s best companies. One of the strategies for high growth is ‘acquisitions’. Take 11 minutes to read my most recent article “The Dilemma of Every Startup Founder: Acquire, Be Acquired, or What Else?

Will Poole

Co-founder and Managing Partner

Capria Ventures

Read the Fine Print

Why it is important to pay attention to ‘details’ to that glamorous LinkedIn profile while you are hiring:

Courtesy: https://twitter.com/ashleevance/status/1581011800543285248?s=20&t=NuAMBZ2NpFn5EyEsFFO0TA

Investing in the Global South

ALAMI, a peer to peer lending startup, enables financial access to the thousands of Indonesian SMEs following the Islamic principles of finance. Capria marks its debut investment in Indonesia’s hot fintech space in a round led by East Ventures, along with AC Ventures, Quona Capital and FEBE Ventures.

Salkantay Ventures, the largest VC fund in Peru, achieved an oversubscribed USD 25 Million final close for its first fund to back innovative startups from the region. Dutch Good Growth Fund and Bancóldex participated in the final close along with existing investors Capria, IDB Lab and the Peruvian fund of funds, managed by COFIDE.

Ascend Vietnam Ventures, a Capria Network member, marks the close of their USD 64 Million early stage fund.

I have the pleasure of interviewing founders from across the Global South on a regular basis. Recently I spoke with Pravin Agarwal, Co-founder and CEO of BetterPlace:

  1. What’s one recent business decision you are very proud of making
    Acquiring four companies in the last nine months.

  2. What’s one business decision you regret? What was your lesson?
    I can go on and on with this but building an e-bike solution tops the list. I would not “regret” the decision because I have had a good share of learning from it.

  3. What’s the one thing, other than capital, that you most seek from your investors?
    Partnership to grow into a global leader from where we are today.

What We Have Been Reading…

A seasoned venture capitalist, Bala Srinivasan goes deep into the opportunity with the massive middle Indian markets, young entrepreneurs and technology in his new book “Winning Middle India”.

Mobility startups have been attracting a significant sum of investing dollars and there hasn’t been anything micro about it. How much did you know about micro-mobility before this report?

Casting a compelling vision, setting the right priorities, executing your strategy, and being able to effectively manage are skills every entrepreneur needs to hone while scaling up their startup. Rahm Shastry deconstructs some popular beliefs in this piece.

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