Marvin Coleby, the former CEO and co-founder of Raise, has joined global cap table management platform Carta as Lead for Product Strategy across Africa, Asia-Pacific, and the Middle East. The move comes after Raise, a Kenyan fintech equity management provider, ceased operations after seven years of pioneering efforts to streamline equity management for African start-ups.
Raise’s closure was attributed to the challenge of finding a scalable business model within Africa’s venture capital ecosystem. However, Coleby’s transition to Carta reflects both continuity and evolution, bringing with him invaluable expertise in equity management and product innovation that has long served founders, funds, and law firms across the continent.
For Carta, the appointment signals a strategic step toward expanding its international presence. By leveraging Coleby’s deep knowledge of the African start-up landscape, Carta aims to accelerate regional growth while delivering localized cap table and fund administration infrastructure to Africa’s venture capital and private equity ecosystems.
As part of this transition, Raise’s existing customers will be able to migrate to Carta in the coming weeks. This migration is expected to provide African start-ups, funds, and cross-border investors with enhanced capabilities, ensuring continuity while unlocking new solutions aligned with global standards of ownership and equity management.
Leadership at Carta has underscored the significance of this appointment, with Bhavik Vashi, Managing Director for APAC & MENA, highlighting Coleby’s role as central to Carta’s vision of building seamless, global ownership infrastructure. For Carta, this is not just an expansion, but a deepened commitment to empowering founders and investors worldwide—including those in Africa’s rapidly growing innovation ecosystem.
Coleby himself described the move as both a personal and ecosystem milestone, emphasizing that Africa’s entrepreneurial energy and talent deserve global recognition and integration. By joining Carta, he seeks to bridge Africa’s innovation with opportunities across APAC and MENA, further connecting regional ecosystems to global capital flows and growth opportunities.
