Top 7 Venture Capital Firms for Emerging Markets Startups

When you're preparing to raise capital, knowing the right investors is critical. For founders in Emerging Markets and frontier markets, this means identifying venture capital firms that understand your specific region and business model.

To help you find the right partners, our team at Rho has curated this overview of top VC firms investing across these regions. This guide offers a quick summary of relevant international and early-stage venture capital firms to support your fundraising process.

Rho provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• Securing venture funding is a critical step for startups in Emerging Markets, providing capital from investors who understand your specific operating environment.
• Firms active in this area include Tribeca Venture Partners, MAGIC Fund, Class 5 Global, and VestedWorld, which are notable backers of businesses across various Emerging Markets.
• Once you close a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.

Which VC Firms in Emerging Markets Are Right for Your Stage?

Whether your company is in its early days or preparing for an exit, knowing the right investors to contact is crucial. To help, we've put together a brief guide to VC firms that invest in businesses in Emerging Markets, broken down by stage.

Pre-seed and Seed VC Firms in Emerging Markets

Pre-seed and seed funding are the earliest forms of capital you'll raise, often to validate your idea and build an initial product. For founders in this phase, firms like MAGIC Fund and Class 5 Global specialize in backing entrepreneurs from the very beginning across regions from Southeast Asia to Latin America.

Early Stage VC Firms in Emerging Markets

Early-stage funding, which includes Series A and B rounds, is for startups with proven traction that need capital to scale operations. Among the many early-stage VC firms, investors like VestedWorld focus on African venture capital opportunities, while Lumia Capital partners with innovators expanding internationally.

Late Stage VC Firms in Emerging Markets

Late-stage rounds provide significant capital to mature companies preparing for an exit, such as an IPO or acquisition. Venture capital investment firms like Bienville and Tribeca Venture Partners often participate in these later rounds, guiding companies toward major financial milestones.

Once you secure funding at any stage, managing your new capital becomes the next priority. Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

It's also worth noting that some VC firms invest across all startup funding stages, offering support from seed to exit.

To help you identify the right investors, we've compiled information on top VC firms that invest in companies operating in Emerging Markets. The following list includes details on their preferred investment stages, geographic focus, and what makes each firm a strong potential partner.

1. Tribeca Venture Partners

Based in New York, Tribeca Venture Partners is a multi-stage firm that invests from seed to late-stage rounds. They back companies using new technologies and business models to create or disrupt large, established markets.

The firm shows a strong focus on FinTech and Financial Services, with a portfolio that includes market-intelligence platform AlphaSense and ad-tech leader AppNexus, which was acquired by AT&T. Their investments point to a strategy of backing companies with the potential for significant scale and high-value exits.

Tribeca Venture Partners may be a good match if you are building a technology-driven business with the ambition to redefine an industry. Their ability to invest across stages means they can be a long-term partner as your company grows.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Financial Services, FinTech, Emerging Markets
• Geographical presence: New York, NY
• Founded: 2011
• Notable investments: AlphaSense, AppNexus, ACV Auctions, ShopKeep
• Portfolio summary: Over 130 investments and 18 exits

You can refer to their website here.

2. MAGIC Fund

MAGIC Fund is an early-stage venture capital firm built by a collective of founders to support other founders. They focus on providing capital and support during the seed and early stages of a company's journey.

The firm’s “founder-first” approach is its defining characteristic, operating as a global collective of founders backing new entrepreneurs. Their portfolio includes successful companies like internal-tools builder Retool and Indonesian fintech Payfazz, showing a broad focus from developer tools to businesses in Emerging Markets.

MAGIC Fund could be a strong partner if you are an early-stage founder who values a supportive network of experienced operators. Their global reach makes them particularly relevant for companies in FinTech, SaaS, or E-Commerce, especially those operating in Emerging Markets.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: FinTech, SaaS, E-Commerce, Developer Tools, Health Care, Cryptocurrency, Emerging Markets
• Geographical presence: Los Angeles, CA
• Founded: 2017
• Notable investments: Retool, Bank Novo, Payfazz, Frubana, KiwiBot
• Portfolio summary: Over 170 investments and 13 exits

You can refer to their website here.

3. Class 5 Global

Class 5 Global is a venture fund based in San Francisco that invests in entrepreneurs across emerging markets. They focus on backing the next generation of founders building businesses in these rapidly growing regions.

The firm primarily invests in seed and early-stage rounds, with a clear interest in FinTech and Software companies. Their portfolio highlights a strategy of backing businesses that can achieve market leadership, such as Southeast Asian unicorn Carsome and Brazilian fintech Meliuz.

Class 5 Global may be a good fit if you are an early-stage founder building a technology company in an emerging market. Their track record suggests a preference for businesses with the potential to dominate a region and achieve a significant exit.

• Investment stages: Seed, Early Stage Venture, Secondary Market
• Industries of focus: Emerging Markets, FinTech, Software
• Geographical presence: San Francisco, CA
• Founded: 2019
• Notable investments: Carsome, Beam, Meliuz, Fresha
• Portfolio summary: 37 investments and 2 exits

You can refer to their website here.

4. VestedWorld

VestedWorld is an early-stage investment firm based in Chicago that focuses on businesses in emerging markets. They provide capital to companies from seed through early-stage venture rounds, with a clear emphasis on the African continent.

The firm’s portfolio highlights a strategy of backing companies that provide essential services, such as Kenyan logistics startup Sendy and Nigerian mobility platform Shuttlers. Their investments in companies like aquaculture firm Victory Farms and mobile-engagement platform Viamo show a focus on businesses with strong social and economic impact.

VestedWorld may be a good fit if you are an early-stage founder building a business in Africa. Their track record suggests an interest in companies that address fundamental community needs and have the potential for regional scale.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Businesses in Emerging Markets, with a portfolio concentration in Logistics, Mobility, AgTech, and MarTech
• Geographical presence: Chicago, IL
• Founded: 2014
• Notable investments: Sendy, Viamo, Victory Farms, Shuttlers, Terragon Group
• Portfolio summary: 23 investments and 1 exit

You can refer to their website here.

5. Bienville Capital

Bienville Capital is a New York-based investment firm that manages capital for a select group of institutional and family office clients. They operate across multiple asset classes, including venture capital and private equity.

The firm invests across all stages, from seed rounds to post-IPO companies, with a focus on industries like FinTech, Real Estate, and Emerging Markets. Their portfolio includes several high-profile exits, such as social platform Reddit and game engine Unity, signaling a strategy of backing companies with massive scale.

Bienville Capital may be a good partner if you are leading a high-growth company with significant traction and a clear path to market leadership. Their ability to invest across the entire company lifecycle makes them a potential long-term financial partner.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Post-IPO, Private Equity
• Industries of focus: Emerging Markets, Financial Services, FinTech, Real Estate
• Geographical presence: New York, NY
• Founded: 2008
• Notable investments: Reddit, Unity, PathAI, Procore, Supergoop
• Portfolio summary: 84 investments and 13 exits

You can refer to their website here.

6. Lumia Capital

Lumia Capital is an expansion-stage venture firm based in San Francisco that partners with US and European technology companies to support their international growth.

The firm’s strategy centers on backing innovators who are ready for international expansion, particularly into emerging markets. Their portfolio includes major successes like Middle-East ride-hailing service Careem, which was acquired by Uber, and incident-response platform PagerDuty.

Lumia Capital may be a good match if you lead an expansion-stage company with proven traction in the US or Europe. Founders looking for a partner to help them scale globally will find their expertise valuable.

• Investment stages: Early Stage Venture, Late Stage Venture, Secondary Market
• Industries of focus: SaaS, Enterprise, FinTech, companies expanding into Emerging Markets
• Geographical presence: San Francisco, CA
• Founded: 2011
• Notable investments: Careem, PagerDuty, Kabbage
• Portfolio summary: 52 investments and 16 exits

You can refer to their website here.

7. Mission Ventures

Mission Ventures is a California-based venture capital firm that provides investment and guidance to companies from the seed to late stages. They invest across a range of industries, with a stated focus on software, FinTech, and businesses in emerging markets.

The firm’s portfolio highlights a diverse strategy, backing foundational technology companies like fast-charging battery developer Enevate and content-security provider Verimatrix. Their investments also include consumer brands, such as UK-based kombucha brewer Equinox, signaling an openness to different sectors.

Mission Ventures may be a good match for founders building technology companies, particularly in FinTech and software. Their broad investment thesis could also appeal to founders with unique business models outside of traditional tech.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Software, FinTech, Emerging Markets, Finance
• Geographical presence: San Diego, CA
• Founded: 1996
• Notable investments: Enevate, Verimatrix, Alpine Data, Equinox
• Portfolio summary: 104 investments and 30 exits

You can refer to their website here.

What This Tells Us About The VC Scene for Emerging Markets Companies

This review of venture firms shows a well-balanced field of investors for companies in Emerging Markets. You’ll find strong support at the earliest phases from specialists like MAGIC Fund and Class 5 Global, while multi-stage firms such as Tribeca Venture Partners and Bienville Capital offer capital through later rounds. This indicates that support is available across your company's entire growth cycle.

One clear pattern is that while these firms invest globally, many are headquartered in major US hubs like New York and California. For founders, this means your fundraising efforts will likely involve building connections with partners based in North America, even if your operations are elsewhere.

Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

Raise Confidently with Rho

Having a focused list of relevant investors is a significant advantage during a fundraise. It saves you critical time and energy, letting you concentrate on the conversations that matter most.

Once your round is closed, the work of building your company begins. If you’ve just raised, Rho can help you set up your financial stack in minutes.

Our platform provides the tools to manage your new capital efficiently from day one. We offer integrated business banking, corporate cards, and automated bill pay built for startups.

FAQs about Venture Capital Firms Focused on Emerging Markets

Which VC firms invest in African tech startups?

VestedWorld is a key investor focusing on Africa, and other firms like MAGIC Fund also back founders across the continent. Your best approach is to research firms whose portfolio companies and investment thesis align with your specific sector and stage.

What are some active venture capital firms in Latin America?

Firms like MAGIC Fund and Class 5 Global have backed successful companies in Latin America. Many global VCs are active in the region, so look for investors with a track record in your industry, such as FinTech or E-Commerce.

Are there VCs that specialize in AgTech in emerging markets?

Yes, many firms see potential in agriculture technology. VestedWorld, for example, has invested in aquaculture in Africa. Research investors whose portfolios include AgTech or related industries to find the right fit for your company's goals.

How can I connect with international venture capital firms?

Build relationships by attending industry events, seeking warm introductions through your network, and maintaining a professional online presence. Many firms, though based in the US or Europe, actively look for opportunities and founders in emerging markets.

What's the first step after closing a funding round?

Once funding is secured, your priority is efficient capital management. Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help startups manage and deploy capital efficiently from day one.

How can Rho help my startup manage its new capital?

Rho provides an all-in-one financial platform for startups. You can open business bank accounts, issue corporate cards, and automate bill pay to manage your new funding effectively. Get started with Rho to manage your capital.