The fund will focus on investing in the most talented entrepreneurs in some of the region’s less well-served venture capital markets.
SAN JOSE, SAN JOSE, COSTA RICA, July 3, 2021 /EINPresswire.com/ – Carao Ventures, a leading regional venture capital firm based in Costa Rica, announces the successful completion of the first close of Carao Ventures Fund l, LP, a new $ 35 million fund that will target investments in early stage startups in small and medium-sized Latin American economies.
The fund will focus on investing in the most talented entrepreneurs in some of the region’s most underserved venture capital markets and help them develop world-class technologies and innovative business models to disrupt traditional industries. and create solutions to relevant human challenges.
The main markets targeted by Carao Ventures Fund l, LP will be Central America, the northern Andes region (Colombia, Peru and Ecuador) and the Dominican Republic. In addition, Carao will target selected opportunities in Argentina, Chile and other small and medium-sized Latin American countries, as well as Latin American founders based in the United States but with significant operations in the region.
Allan Boruchowicz, Founder and Managing Partner of Carao said: “With the support of our investors, we will amplify our ability to channel capital and other valuable resources to a region which has exceptional start-up potential but which has historically been neglected by venture capital. mission is to provide the most talented and engaged entrepreneurs in small and medium-sized Latin American markets with access to the resources and opportunities necessary to create valuable businesses from and for the region. “
The fund will invest in early stage companies (pre-seed funding rounds up to Series A) with a multi-step approach of investing early with the intention of participating in two or three follow-on investment rounds in the companies. the most efficient. Additionally, while the company is building up relevant experience in a handful of industries, the fund will remain industry agnostic.
Carao secured this first close of the fund with the support of a select group of regional and international investors, including the Inter-American Development Bank (IDB), the International Finance Corporation (IFC) and leading family offices and individuals. wealthy. from Central America, the United States and South America. Subsequent and final closings will take place within the next 12 months.
About Carao Ventures
Carao was founded in 2012 in San José, Costa Rica and is headed by Allan Boruchowicz and Adrián García. It is a pioneering and leading venture capital firm in Central America with active investments in biotechnologies, health technologies, financial technologies, artificial intelligence, construction technologies, education, among others. industries. Carao has a distinctive business model designed to invest in early stage venture capital opportunities in small and mid-sized emerging markets. Its differentiated investment approach combines best practices from early stage VC firms, angel investor networks, venture capital creation programs and startup accelerators in a value proposition that serves both promising startups and sophisticated investors with an interest in being exposed to frontier markets through partner.
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