Two months after initial fundraising, KaszeK Ventures closed its third fund at a cap of US$200m focused on growing the Latin American tech ecosystem.
The firm, that has been instrumental for the growth of the Latin American tech ecosystem, has raised its third and largest fund to continue supporting entrepreneurs across the region.
With a focus on “helping Latin American entrepreneurs build amazing companies”, venture capital firm Kaszek Ventures has recently closed a new USD 200 million fund to continue investing in technology companies across the region. Capital was sourced from global investors that remain very positive on the outlook of technology driven opportunities in Latin America.
This is Kaszek Ventures’ third fund. The firm had raised its USD 95 million first fund in 2011, and its USD 135 million second fund in 2014.
This new fund is the largest ever raised by a technology VC firm in Latin America, cementing the firm’s leadership in early stage investing.
So far, Kaszek Ventures has backed 43 companies, which collectively have raised more than USD 1.4 billion in capital from other investors. The firm has been most active in Brazil, where it has deployed more than 70% of its capital, but has also done several investments in Argentina, Mexico, Chile, Colombia and Uruguay.
“Technology is enabling society to reshape our world every day, and disruption opportunities are emerging everywhere. We are very excited to see outstanding entrepreneurs in the region taking advantage of these trends and developing impressive businesses. We have raised our third fund with the objective of supporting them in their path to building successful companies”- said Nicolas Szekasy, co-founder and Managing Partner of Kaszek Ventures.
The new fund’s investment strategy will be very similar to that of the prior ones as the firm plans to invest in early-stage, high-impact technology companies that are based in Latin America and, at least initially, target this region.
“The main focus will be to invest in high-impact ventures where local execution and know-how are critical competitive advantages”, said Nicolas Berman, partner at Kaszek Ventures. “We expect that most of the capital will continue to go to Brazil, as it is the largest and most developed tech ecosystem in the region, but we anticipate increased investing in the other markets in the region, particularly in Argentina, Mexico and Colombia, where we are seeing a strong evolution in their entrepreneurial communities”, he added.
“Having Kaszek as an early investor has been great for the evolution of the company. Their team is always ready to help, and their operational background is a key differentiator that allows them to provide great guidance in key areas of the business through the different growth stages. Knowing that they have raised their new fund and will continue investing in the region is great news for the whole Latin American ecosystem” said David Vélez, founder and CEO of Nubank, first digital bank in Brazil and one of Kaszek´s portfolio companies.
In addition to capital, Kaszek Ventures supplies first-hand expertise and insights in strategy, operational execution, team-building, growth, technology, product and networking by bringing to the table the partners’ experience from MercadoLibre (the most successful technology company in the region), where the three Kaszek Ventures’ partners worked for over a decade as key executives.
“As a team, we love rolling up our sleeves, and working alongside with the entrepreneurs to help them maximize the chances of success of their ventures. With this new fund we expect to continue partnering with outstanding teams, and help them execute their visions”, said Hernan Kazah, co-founder and Managing Partner of Kaszek Ventures.