Ecuador. BuenTrip Ventures launched its second investment fund focused on supporting early-stage technology companies in Latin America. Building on their track record as builders of the technology entrepreneurship ecosystem, Fund II will invest US$15 million in 36 startups in the region with an emphasis on markets such as Bolivia, Ecuador, Chile, Colombia, Peru and Paraguay.
Fondo II will have the first institutional investor of BuenTrip, with the participation of the Inter-American Development Bank (IDB) through the IDB Lab, who share the objective of supporting innovation and the development of the startup and venture capital ecosystem in Latin America and the Caribbean. IDB Lab is one of the leading institutional venture capital investors in the region.
Unlike traditional funds, which first raise capital and then seek to make investments, BuenTrip has focused on first developing the ecosystem around technology entrepreneurs. For more than eight years, the firm has provided mentorships, pitch nights and events for the community, and launches Ecuador's first venture capital fund to consolidate the ecosystem around technology entrepreneurship in 2021.
Fondo I has a portfolio of 23 startups, with a presence in seven countries throughout the Americas, and supports 46 technology founders. 30% of the startups that received funding are led by women, underscoring the firm's commitment to providing opportunities to founders from diverse backgrounds.
The fund invested primarily in software companies that enable and accelerate the region's digital transformation in important sectors of the economy such as FinTech, logistics, healthcare, education, Enterprise & SMB SaaS, and eCommerce infrastructure.
BuenTrip Ventures is led by Fernando Rivera and Carmen de la Cerda. Carmen led the BuenTrip accelerator for more than five years and has led the acceleration of more than 80 startups. Fernando has more than 25 years of business experience in creating technology-based companies, including ETF.com, which was acquired by Cboe Global Markets.
Additionally, Felipe Chediak, from a non-executive role, promotes innovative international alliances to attract capital for BuenTrip Ventures and its entrepreneurs.
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