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Kaszek Ventures, one of Latin America’s first venture capital firms, has raised $975 million in two funds.
In particular, the São Paulo-based firm closed on Kaszek Ventures VI, a $540 million seed fund and Kaszek Ventures Opportunity-III (KVO-III); A $435 million vehicle for next-level investments.
In recent years, the interest of international investors in Latin American startups has exploded. 2021: Fundraising high and VC capital booming in region’s startup scene A total of 15.9 billion dollars By 2021 (up from $2 billion in 2018), according to LAVCA. Even if that frustration kills some (By 2022, $7.8 billion has been deployed.)) Latin America is still home to a growing number of unicorns and successful startups.
Since 2011, Kaskek has supported more than 120 companies, and the company has collectively raised more than $15.5 billion in capital.
Kaszek plans to fund 20 to 30 companies in early stage funding (at the Seed, Series A and Series B stages) with check sizes ranging from $500,000 to $25 million, Kazzek co-founder and CEO Hernan Kazah said. Managing Partner. The Opportunity Fund’s investments will be more concentrated, with the firm aiming to back 10 to 15 companies with check sizes ranging from $10 million to $50 million. KVO-III will mostly provide back-end capital to Kaszek’s portfolio companies, but will seek primary and secondary opportunities outside of the company’s primary portfolios, Kazah said.
“We are looking for exceptional founding teams whose business plans focus on the strategic use of technology to gain competitive advantage. We don’t limit ourselves to any sector,” Kazah said. Indeed, the portfolio includes companies in industries such as fintech, enterprise/SaaS, proptech, insurtech, healthtech, edtech, e-commerce, food tech, climate tech, biotech and blockchain. include Nubank, Quintoander, Kavak, Credits, Nuvemshop, Bitso, Gympas, Notco, Madeira Madeira, Loggi, Confio, Technisys, Kushki and Cora.
The company’s most notable exit is digital bank Nubank, which it first invested in in an early seed round “when the company was just a PowerPoint presentation,” says the co-founder and managing partner. Nicholas Szekasy. That company went public on the NYSE in December 2021.
Geographically, Kassek is most active in Brazil and Mexico, and has invested in groups in Colombia, Chile, Argentina, Ecuador, Peru and Uruguay.
Mercado Libre co-founder Kazah and the company’s former CFO Szekasy Kasek founded it 12 years ago in what some have described as Latium’s answer to Amazon. (The company’s name comes from a combination of their two last names: Ka-sec).
Image Credits: Porridge
Kassek established the first fund in 2011, raising 95 million dollars, an impressive sum at that time. Funds II and III were closed in 2014 and 2017, raising $135 million and $200 million respectively. In the year In 2019, Kaszek raised $375 million in his fourth fund and his first venture fund, with $225 million in later-stage investments locked in existing portfolio companies. Finally collected money In 2021$475 million for early-stage investment and $525 million for opportunity funding.
According to the firm, each of the two new funds was “oversubscribed.”
The company’s LP base is consistent with previous funds, such as Kazakhstan, and university endowments, charitable foundations, technology investors and entrepreneurs around the world.
He said in 2022 He trembles.Most companies in Latin America used the year to realign their plans, trading in some top-line growth to pave the way for improved margins and profitability.
“As we look forward to 2023, pipeline opportunities are strong,” Kazah added. “The technology sector faces short- to medium-term pressures globally due to recent market adjustments. However, it is worth noting that the long-term trends in this sector have not changed. In fact, throughout history, some of the most famous and successful companies have been built during times of scarcity and economic uncertainty.
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