Venture capital investment in Chile once again exceeded US$1 billion. According to ACVC estimates, US$1,019 million was invested in 2022, a figure that represented only a 0.6% decrease compared to 2021.
In an interview with El Mercurio's Innovación, Francisco Guzmán, president of the ACVC, commented that Chile's figures were out of line with the global VC decline because it was the larger rounds that suffered the most significant declines. "There was an adjustment for the #startups with the highest valuation, but venture capital in Chile has continued to grow year after year, because it is focused on early stages, with series of between US$ 2 million and US$ 5 million," he assured.
Regarding what is coming for 2023, Francisco Guzmán highlighted the work that ACVC has been developing with Corfo, which has resulted in key initiatives for the industry such as the launch of the Venture Capital Chile brand. This seeks to encourage the arrival of foreign investors and increase Corfo's leverage for the sector, going from funds of between US$ 20 million and US$ 30 million to funds of up to US$ 150 million. This "will grow the size of the industry in Chile exponentially".
The #fondodefondos is another of the initiatives promoted by the ACVC that is expected to materialize during 2023. Although Francisco Guzmán recognizes that achieving new public policies takes time, in this case he is confident. "...goals and concrete transformations have been achieved, such as specific regulations for science-technology based innovation and the expansion of funding lines," he explained.
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