The initiative led by the Chilean Venture Capital Association -ACVC- and its counterpart ARCAP, from Argentina, brought together several of the main venture capital funds in the region, to promote co-investment and the scaling of startup businesses to different markets.
August 12, 2020 The first Latin American co-investment initiative among the associations that bring together various venture capital in the region, called CoinvestmentLatam, summoned 25 venture capital funds and 12 startups seeking to raise investment and scale their businesses. The meeting led by the Chilean Association of Venture Capital -ACVC- and the Argentine Association of Private Capital, Entrepreneur and Seed -ARCAP- and was held between Thursday 6 and Friday 7 August, where the entrepreneurs who presented their startups, sought to raise Between USD 100,000 and USD 1 million, a first group and the second aimed at an investment of over USD 1 million.
“From the ACVC we promote initiatives like this one, because we know that in addition to the capital that startups can get as investment, what we are doing by collaborating with our Latin American colleagues is opening opportunities for entrepreneurs to scale their startups to other markets”, commented Andrés Meirovich, president of the Chilean Venture Capital Association.
The initiative led by the ACVC and the ARCAP, is projected in a cycle of co-investment events, where to start, the venture capital associations Pecap (Peru), Colcapital (Colombia), Amexcap (Mexico), AVBCAP (Brazil) LAVCA will participate and IDB, in addition to the other associations that are subscribed to the 2018 ASCRI MOU. In a second instance, associations from Europe and Asia, ASCRI (Spain), France Invest (France), AITI (Israel), LPEA / Luxembourg and AIFI (Italy).
“Although the Covid-19 pandemic has had a profound impact on all sectors, the value that entrepreneurs and the technological solutions they are developing in this time of crisis has been more than demonstrated,” said Meirovich. “It is at this time also where we must promote these ventures to scale to other countries, with the support of venture capital, because if a startup is providing services or products that can be used in Chile, Argentina or Mexico, for example , what these entrepreneurs need today is, on the one hand, the monetary support to make that leap and on the other, an accompaniment in their arrival and growth of the business “, said the president of the ACVC, who stated that” this first episode of the The co-investment event was a success, not only because of the good level of the ventures that were presented, but also because it is a good example of collaboration to promote Latin American entrepreneurial capital or venture capital to take our entrepreneurs to scale globally ”.
Participants
The startups that participated in the CoinvestmentLatam were: Avancargo, Moova, Nectras, Neuralys, Pago46 and Wheel the World, which sought to raise an investment between 100,000 and 1 million dollars.
In a second group were Intitech, Michroma, Skyloom, Unima, View Mind and Wenu Work, who were looking for an investment of more than USD 1 million.
The funds that participated in this first meeting organized by ACVC and ARCAP were: Alaya, ALLVP, Génesis Ventures, DADNEO, HCS Capital, Endurance Investments, Masisa Lab, Manutara Ventures, Wayra, Chile Global Ventures, Digevo Ventures, Consorcio, Beagle Ventures, members of the Chilean Venture Capital Association and part of the ARCAP, participated KaSZek Ventures, Softbank, Oikos, Cygnus Capital, Jaguar Ventures, Nextp, Xpand Ventures, Meli Fund (Mercado Libre), J-Ventures, Oikos and Supervielle .
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Chilean Association of Venture Capital
Press contact: José Fuentes +56977098145, jose@cubocomms.com