The association seeks to promote the Venture Capital industry in Chile by fostering the financing of entrepreneurship and innovation.
Promoting innovation and entrepreneurship through financing is one of the main objectives of the new Chilean Venture Capital Association, which will become a spokesperson for government entities, investors and other industry players.
On May 2, the constituent assembly of the Association was held, in which Genesis Capital, Manutara Ventures, NXTP Labs, Alaya Capital, Nazca Ventures and Raicap acted as constituent entities, with the strategic support of the law firm Carey.
The Association is already coordinating meetings with different actors from the public and private sectors to put on the public agenda the importance of Venture Capital as an effective mechanism for financing entrepreneurship and innovation. The idea is to make collective efforts from the different fund managers in the industry to create the conditions that contribute to the development of an enabling environment that stimulates investment and includes the necessary incentives to promote risk-taking by entrepreneurs and investors.
The Board of Directors is composed of Rodrigo Castro (Genesis Capital) as Chairman, Pablo Traub (Manutara Capital) as Vice Chairman, Max Grekin (Nazca Ventures) as Treasurer, and Joel Vainstein (Raicap), David Alvo (NXTP Labs) and Francisco Guzmán (Carey) as Directors.
The association will also carry out and sponsor training activities on best practices, both for investors and entrepreneurs, in addition to maintaining relationships and exchanging information and experiences with other associations, organizations or trade associations related to the Venture Capital industry, both in Chile and abroad.
It is estimated that the Venture Capital industry, which is going through a stage of sustained development in Chile, moves US$415 million a year. The administrators participating in the new trade association manage funds close to US$140 million, amounts that are expected to increase exponentially in the short term.