Venture capital firm Unreasonable Capital, which invests in African, Asian and Latin American startups, has raised financing of US$5 million from the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution.
OPIC is investing in Unreasonable Capital’s first fund, which will back scalable and profitable companies working to address social and environmental issues that improve the lives of people living in underserved communities across Latin America, India, Asia, and Africa.
“OPIC is delighted to support Unreasonable Capital as the fund invests across several regions and in a variety of sectors, from energy access to financial technology, that will have a positive development impact,” said Elizabeth Littlefield, OPIC president and chief executive officer (CEO).
“Unreasonable Capital’s approach of investing in early stage companies and providing operating support will have a long-lasting impact on the underserved communities in those regions. OPIC is committed to helping the private sector enter into emerging markets and pursue opportunities in some of the world’s largest and fastest growing economies that are often overlooked by private investors.”
Ashok Reddy, co-founder of Unreasonable Capital, said his company was committed to supporting the greatest entrepreneurs of its time, those who are addressing the underpinnings of endemic poverty with profitable businesses.
“These companies provide the needed products and services that will facilitate large populations of people to rise into the global middle class,” he said. “We are honoured to work with OPIC, which has an established a track record of successfully investing into developing markets.”
Unreasonable Capital makes investments and provides operating support to early-stage companies that connect bottom-of-the-pyramid, underserved populations to products and services that improve their lives.
Its fund will focus on energy access, financial technology, and mobile phone innovations in agriculture and artisan-driven fashion, connecting small, local goods to global markets.
