Amanze Chinonye
Equity management giant, Carta, has appointed Marvin Coleby, co-founder and former Chief Executive Officer of Raise, the so-called “Carta of Africa,” to lead its product strategy across Africa, Asia-Pacific (APAC), and the Middle East and North Africa (MENA).
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Coleby, a legal-tech entrepreneur who helped build Raise into Africa’s leading cap table software provider, will spearhead Carta’s push to expand localized equity management and fund administration services in emerging markets. His appointment is being seen as a pivotal step in bridging Africa’s fast-growing venture ecosystems with global capital networks.
Alongside the leadership change, Carta announced that Raise customers will soon be able to migrate to its platform, gaining access to an expanded suite of tools for founders, funds, and law firms. The move consolidates Carta’s position as a global leader in private market infrastructure while extending its reach into markets that remain underserved despite rapid growth.
Africa is home to more than 13,600 active startups across 77 sectors, supported by over 2,200 investment entities. Countries such as Egypt, Nigeria, South Africa, and Kenya are now counted among the fastest-growing venture economies in the world, yet the region still lacks the depth of infrastructure needed to sustain long-term growth. By bringing Coleby on board, Carta is signaling its intent to fill this gap with standardized, transparent, and globally recognized equity management tools.
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This expansion also comes as global investors sharpen their focus on Africa. Over the last decade, Gulf Cooperation Council (GCC) states have invested more than $100 billion in private and foreign direct investment (FDI) deals on the continent. China and other Asian economies have pledged an additional $80 billion into African infrastructure and private assets. Carta’s new leadership in Africa, coupled with its recently secured Financial Services Permission (FSP) in Abu Dhabi, positions the company at the heart of this investment surge.
Bhavik Vashi, Managing Director for APAC & MENA at Carta, described Coleby’s appointment as “a milestone for our vision of seamless, global ownership infrastructure.” “Africa’s entrepreneurial energy and talent are undeniable,” Vashi said. “By adding Marvin to our team, we’re deepening our commitment to serve founders and investors everywhere.”
For Coleby, the appointment represents both continuity and expansion. “Joining Carta marks an exciting new chapter for equity management in the African ecosystem and for me personally,” he said. “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.”
With Africa’s venture ecosystem maturing and global investment flows accelerating, Carta’s strategic hire of Coleby is more than just an executive appointment—it’s a signal that the infrastructure to support Africa’s next generation of billion-dollar startups is being built now, with implications for founders, investors, and cross-border capital flows.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
