The latest acquisition of $600 million from two funds makes the Latin American venture capital firm, Kaszek the first local startup investor to touch the watershed. Now, the firm's total capital is roughly $1 billion.
Founded by Hernan Kazah and Nicolas Szekasy, former executives of Argentine e-commerce site MercadoLibre (MELI.O), in 2011, Kaszek Ventures has been putting a large chunk of investment in the Latin American business sector. The investment from local and global ventures made unprecedented growth in the region.
The new investment will flourish LatAm that has been struggling to raise the funding from top investors. The co-founders said that the total fund would spend in two ways; $375 million for early-stage companies, and $225 for established companies to enhance the growth.
Since its inception, the company has made around 90 investment in eight years, and some of the major Latin American startups flourished through it. Some of its more profitable and fast-growing ventures include fintech startup Creditas, digital bank Nubank, Gympass, and Loggi.
The latest fundraising substantiates the enhancing fertility of the Latin American business. In 2017, the region made a total investment of around $1.14 billion. Crossing the record, it was $1.98 billion in 2018, according to Latin America Private Equity and Venture Capital Association (LAVCA).
In 2019, the investment in the area is going to hit the record, and Kaszek Ventures fundraising points toward it. Early 2019 has already produced good news as Japan’s SoftBank Group Corp launched a 5 billion fund zeroed in on Latin America. It inspired other venture capitals in the region as well.
According to Julie Ruvolo, director of venture capital strategy at LAVCA, the $600 million fund of the local player will improve the tie-ups between local and international venture investors.
Kaszek Ventures began the fundraising procedure in mid-June and has received a huge demand from well-known investors globally, says Nicolas Szekasy.
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