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Gray Matters Capital

North America, Georgia, United States, Atlanta

Description

Gray Matters Capital (GMC) is an Atlanta-based impact investing firm with a clear mission to improve the lives of underserved populations, particularly women and girls, in developing countries. Their strategic focus is on leveraging market-based solutions to address critical social challenges across India and Sub-Saharan Africa. GMC operates with a distinct gender lens, actively seeking out enterprises that not only demonstrate strong potential for financial returns but also generate measurable social impact, aligning their investments with sustainable development goals.

The firm typically targets early-stage companies, spanning from seed to Series A rounds, that are developing innovative, technology-enabled solutions. Key sectors of interest include education, vocational training, and livelihoods, where their investments aim to empower individuals and communities. Gray Matters Capital is known for its hands-on approach, often providing strategic guidance and operational support to its portfolio companies beyond just capital injection, fostering their growth and scalability.

Gray Matters Capital's initial investment checks generally range from $250,000 to $1 million, reflecting their commitment to backing promising early-stage ventures. They also possess the capacity for follow-on investments, potentially deploying up to $2 million in total capital per company as businesses achieve significant milestones and demonstrate continued growth. Their diverse portfolio currently comprises over 30 companies across their target geographies, showcasing their broad reach and dedication to fostering a robust ecosystem of impact-driven enterprises that drive positive social change.

Investor Profile

Gray Matters Capital has backed more than 32 startups, with 1 new investments in the last 12 months alone. The firm has led 19 rounds, about 59% of its total and boasts 3 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Seed, Series A, Series Unknown rounds (top funding stages).
  • Majority of deals are located in India, United States, Kenya.
  • Strong thematic focus on Education, Health Care, E-Learning.
  • Typical check size: $250K – $1M.

Stage Focus

  • Seed (38%)
  • Series A (25%)
  • Series Unknown (19%)
  • Pre Seed (9%)
  • Series B (6%)
  • Debt Financing (3%)

Country Focus

  • India (59%)
  • United States (28%)
  • Kenya (6%)
  • Ghana (3%)
  • Nigeria (3%)

Industry Focus

  • Education
  • Health Care
  • E-learning
  • Financial Services
  • Wellness
  • Energy
  • Manufacturing
  • Renewable Energy
  • Solar
  • Finance
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Gray Matters Capital frequently co-invest with?

Gaingels
North America, Vermont, United States, Burlington
Co-Investments: 2
Nexus Venture Partners
North America, California, United States, Menlo Park
Co-Investments: 3
Acumen
North America, New York, United States, New York
Co-Investments: 3
17Sigma
South America, Distrito Federal, Argentina, Buenos Aires
Co-Investments: 1
The Chennai Angels
Asia, Tamil Nadu, India, Chennai
Co-Investments: 2
Garage Technology Ventures
North America, California, United States, Palo Alto
Co-Investments: 3
UO
Europe, Zurich, Switzerland, Zürich
Co-Investments: 2
Heritas Capital
Asia, Central Region, Singapore, Singapore
Co-Investments: 2
1Crowd
Asia, Maharashtra, India, Mumbai
Co-Investments: 2
Omidyar Network
North America, California, United States, Redwood City
Co-Investments: 2

Which angels does Gray Matters Capital often collaborate with?

KR
North America, New York, United States, New York
Shared Deals: 1
Praveen Chakravarty
Asia, Delhi, India
Shared Deals: 1
TI
North America, California, United States
Shared Deals: 1
JW
North America, Washington, United States, Seattle
Shared Deals: 1
Shared Deals: 1
MS
North America, California, United States, San Francisco
Shared Deals: 1
AR
North America, California, United States, San Francisco
Shared Deals: 1

What are some of recent deals done by Gray Matters Capital?

Kreedo Early Childhood Solutions

Bengaluru, Karnataka, India

Kreedo provides a complete preschool solution.

Education
Series AAug 27, 2024
Amount Raised: $4,000,000
FinAGG

Noida, Uttar Pradesh, India

FinAGG is a digital credit card for suppliers, distributors and retailers that lubricates the flow of goods & payments in the supply chain.

AppsCredit CardsFinancial ServicesFinTech
Debt FinancingJan 18, 2024
ConveGenius

Noida, Uttar Pradesh, India

ConveGenius is an EdTech company that provides personalized and adaptive learning solutions to improve learning outcomes.

E-LearningEducationSoftware
Series AJan 11, 2024
Amount Raised: $6,981,740
uFaber

Mumbai, Maharashtra, India

Ufaber provides online and offline courses on various topics such as Android development, drawing, big data, chemistry, and more.

EducationInternetInternet of ThingsOnline PortalsSoftwareTraining
Series AMay 24, 2023
Amount Raised: $3,022,468
Kreedo Early Childhood Solutions

Bengaluru, Karnataka, India

Kreedo provides a complete preschool solution.

Education
SeedJul 4, 2022
Amount Raised: $2,300,000
OYE

San Francisco, California, United States

OYE provides application for emotional wellness in individuals.

Health CareWellness
Pre SeedMay 17, 2022
Amount Raised: $3,500,000
iDream Career

New Delhi, Delhi, India

iDream Career is an education company that has developed a 3S framework program to help students plan their career.

Career PlanningEdTechEducation
Series UnknownApr 26, 2022
Amount Raised: $1,627,725
Shamba Pride

Nairobi, Nairobi Area, Kenya

Shamba Pride is an online-to-offline platform connecting small farmers to quality supplies, services, and information via DigiShops.

AgricultureFarmers MarketSharing EconomyTraining
SeedDec 3, 2021
Amount Raised: $1,100,000
Valera Health

Brooklyn, New York, United States

Valera Health is a tech-enabled mental health company delivering inclusive and tailored care.

Health CareMental HealthmHealthWellness
Series UnknownNov 4, 2021
Amount Raised: $15,000,000
Applied Cognition

Palo Alto, California, United States

Applied Cognition provides digital health management platform to treat declines in cognitive functions

Health CareHealth Diagnostics
Series UnknownOct 1, 2021