Latin American venture capital fund KaszeK Ventures has raised $200 million in its third round of fundraising, with plans to accelerate the stimulation of technology startups across the region.
Buenos Aires-based Kaszek has backed more than 40 startups so far, with reports saying it is the largest fund the company has ever raised since its founding in 2011.
“We […] are working alongside the entrepreneurs to help them maximize the chances of success of their ventures,” said Hernan Kazah, co-founder and Managing Partner of Kaszek.
Most of the enterprises it supported are “early-stage, high-impact” technology companies and they have collectively raised more than US$1.4 billion in capital from other investors, according to KaszeK Ventures.
Some of the funded startups include Nubank, GuiaBolso, VivaReal, QuintoAndar, Gympass, Loggi, Dr.Consulta, Creditas, Konfio, and GoIntegro.
Much of the funds went to startups in Brazil, with the remainder being shared by entrepreneurs in Argentina, Mexico, Chile, Colombia, and Uruguay.
The VC fund is optimistic about their growth, despite the economic storm sweeping through the region. Some of its Brazilian startups saw between a 50% and 100% surge in revenue last year, according to The New York Times.
“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,” said Nicolas Berman, partner at Kaszek Ventures, in a statement.
“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.”
Most of Kaszek’s founders were senior executives at Argentina’s e-commerce giant MercadoLibre. Therefore, the VC fund says it will also offer strategic advice to the startups, in addition to capital.