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Global South specialist venture capital firm Capria Ventures clocked Rs 153 crore (around $19 million) in the final close of its India Opportunity Fund.

The fund had announced the first close at Rs 75 crore in February 2023 as Unitus Ventures, following which Capria Ventures and Unitus Ventures merged to form a single brand.

The fund had deployed the capital from the first close across its breakout portfolio companies from Capria India Fund I and Capria India Fund II, including work-as-a-service platform Awign, workforce solutions provider BetterPlace, edtech platform for K12 students Cuemath, education loan provider Eduvanz, and technology upskilling platform Masai School.

The India Opportunity Fund will deploy capital across 39 promising portfolio companies, Capria had said in a statement earlier.

It also announced a full-cash exit from Awign, recently acquired by Japanese conglomerate Mynavi Corporation, where it had led the startup’s first seed round in 2018.

“Mynavi’s acquisition of Awign not only opens untapped markets and opportunities for the company but is also a great exit for our India Fund II, where we will return more than 50% of the invested capital through this one exit. The multiple on invested capital for Awign for our India Fund II is more than 7X,” said Surya Mantha, Managing Partner at Capria, in a statement.

He added, “Additionally, our now closed India Opportunity Fund, which also invested in Awign in February 2023, will return more than 20% of the invested capital to its LPs (Limited Partners).”

Capria backs early-stage startups across the Global South, including India, Southeast Asia, Latin America, the Middle East, and Africa. Its key focus sectors include fintech, jobtech, edtech, agritech, climate technology and SaaS companies. It manages assets worth over $207 million globally.