US venture capital firm Rise Capital to raise $146M to back startups in emerging markets
Venture capital firm Rise Capital is aiming to secure $146 million right now. The news is based on a recent document filed with the Security and Exchange Commission (SEC), according to VentureBeat.
The American firm wants to support startups based in Africa, South America, and other emerging markets. Rise Capital had already invested in a handful of startups such as Sub-Saharan Africa's on-demand TV firm iROKOTV and Chilean online comparison service Comparaonline, the report stated.
The company's chief executive officer (CEO) Nazar Yasin has extensive experience in discerning emerging companies in the worldwide startup scene. He previously worked for Tiger Capital and became part of the board of different companies such as Chinese social media site YY and Russian TV service ivi.ru, the report detailed.
Rise Capital was founded just last year. There are other companies that have the same mission as that of the company. Lumia Capital, for example, has its eyes on startups in Latin America, Africa, and the Middle East, VentureBeat reported.