Marvin Coleby, previously with Raise, the leading equity management provider for African startups, joins Carta to lead product strategy for Africa, Asia-Pacific, and the Middle East. Coleby brings deep product expertise and trusted tools for founders, funds, and law firms across Africa, enabling Carta to expand its international presence.
Alongside Coleby joining Carta, Raise customers will be able to migrate to Carta in the coming weeks. We’ll soon roll out new capabilities and solutions for African startups, funds, and cross-border investors, connecting the region to a truly global ownership ecosystem. Raise customers can find more details about this new chapter here.
African countries like Egypt, South Africa, Kenya, and Nigeria are among the world’s fastest growing private markets and venture economies. To date, there are 13,640 active startups across 77 sectors, backed by 2,246 investment entities—a market that remains largely untapped.
With Coleby on the team, Carta aims to accelerate regional growth and bring localized cap table and fund administration infrastructure to Africa’s venture capital and private equity ecosystems.
Connecting Africa with APAC and MENA
Raise, founded in 2018, has succeeded in developing Africa’s primary cap table software for startups. Carta partnered with the company in 2021 to help launch a suite of localized equity solutions for over 10 jurisdictions across Africa—including Organize, an AI-powered cap table solution, and Wallet, an e-shares product for employees and investors.
Offering Raise customers the ability to migrate to Carta solidifies the company’s position as the recognized leader in global private markets infrastructure, coming at a pivotal moment in the MENA region’s development.
Over the last decade, the Gulf Cooperation Council (GCC)—made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—has deployed more than $100B of private and foreign direct investment (FDI) deals into Africa. Meanwhile, the GCC, China, and other Asian countries are pledging over $80B in fresh investments into African infrastructure and private assets.*
Earlier this year, Carta announced its Financial Services Permission (FSP) from Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), unlocking a new phase of growth in MENA for its venture capital and private equity fund administration services.
“Bringing Marvin into the Carta fold is a milestone for our vision of seamless, global ownership infrastructure,” said Bhavik Vashi, Managing Director for APAC & MENA at Carta. “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.”
“Joining Carta marks an exciting new chapter for equity management in the African ecosystem—and for me personally,” said Marvin Coleby, former CEO of Raise and incoming Lead for Carta Product Strategy across Africa, Asia-Pacific, and the Middle East. “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. I’m looking forward to further empowering thousands of founders with the infrastructure, transparency, and ownership tools they need to scale—across every corner of the continent.”
* Investment data sourced from Briter, Stears, and Africa: The Big Deal.
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