Kaszek Ventures, a venture capital firm focused on investing in Latin American startups, has secured nearly $1 billion in fresh funding to support its investment activities in the region. The firm has raised $600 million for its fourth flagship fund, Kaszek Ventures IV, and an additional $375 million for its first Opportunity Fund.
The funding round was led by new investors such as SoftBank, Canada Pension Plan Investment Board, and Qatar Investment Authority, as well as existing investors such as Founders Fund, Kaszek Ventures III, and Ribbit Capital.
Kaszek Ventures was founded in 2011 by Nicolas Szekasy and Hernan Kazah, former executives at MercadoLibre, the largest e-commerce platform in Latin America. Since then, the firm has become one of the most active and successful venture capital firms in the region, with investments in companies such as Nubank, Creditas, Gympass, QuintoAndar, and Loggi.
The new funding will enable Kaszek Ventures to continue supporting the growth of innovative startups in Latin America across a variety of sectors, including fintech, e-commerce, healthcare, logistics, and education. The firm will also look to expand its team and strengthen its presence in key markets such as Brazil, Mexico, Argentina, and Colombia.
According to Szekasy and Kazah, the COVID-19 pandemic has accelerated the adoption of digital technologies in Latin America and created new opportunities for startups to address the region’s challenges. “We believe that the next decade will be the decade of Latin America,” they said in a statement. “We are excited to partner with entrepreneurs who are building the future of the region.”
The new funding also reflects the growing interest of global investors in Latin American startups. In recent years, the region has seen a surge in venture capital activity, with a record $4.6 billion invested in startups in 2020, according to LAVCA, the Association for Private Capital Investment in Latin America.
However, the region still faces significant challenges, including political instability, economic inequality, and regulatory hurdles. Kaszek Ventures aims to address these challenges by providing not only capital but also strategic guidance and operational support to its portfolio companies.
Overall, the new funding is a positive sign for the Latin American startup ecosystem and a testament to the potential of the region’s entrepreneurs to create innovative solutions that can have a positive impact on society and the economy.
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