Former CEO and co-founder of Raise, a Kenyan fintech equity management provider for African start-ups, Marvin Coleby, is joining global cap table management platform Carta as lead for product strategy for Africa, Asia-Pacific, and the Middle East.
According to Techpoint Africa publication, the move is due to the start-up closing its operations after seven years, as Raise struggled to find a scalable business model that worked within the African venture capital ecosystem.
Coleby brings deep product expertise and trusted tools for founders, funds, and law firms across Africa, enabling Carta to expand its international presence, said Carta in statement.
With Coleby on the team Carta aims to accelerate regional growth and bring localised cap table and fund administration infrastructure to Africa’s venture capital and private equity ecosystems.
Alongside Coleby joining Carta, Raise customers will be able to migrate to Carta in the coming weeks, with new capabilities and solutions for African start-ups, funds, and cross-border investors expected to be rolled out.
“Bringing Marvin into the Carta fold is a milestone for our vision of seamless, global ownership infrastructure. Africa’s entrepreneurial energy and talent are undeniable. By adding Marvin to our team, we’re deepening our commitment to serve founders and investors everywhere,” said Bhavik Vashi, managing director for APAC & MENA at Carta.
“Joining Carta marks an exciting new chapter for equity management in the African ecosystem—and for me personally. We're building a truly global platform that meets the needs of local markets, while connecting Africa’s innovation to opportunities across APAC and MENA,” added Coleby.
Share