Launch of venture capital program for startups of the Pacific Alliance

PRESS RELEASE by Fundación Chile

October 1, 2021

(Please note that this is a machine translation)

Santiago October 1, 2021.- The Pacific Alliance through   InnversionistasAP with the support of the Inter-American Development Bank ( IDB ) and ChileGlobal Ventures , Fundación Chile's venture capital area, launched a Venture Capital training program for early-stage startups that are developing solutions in Chile, Colombia, Mexico and Peru .

" VCamp " is the name of this initiative that seeks to train 20 startups in everything that involves the world of Venture Capital from what it is, how it works, types of investors, structure and what they need to take into account for an investment round , etc. This in order to facilitate their interaction with this industry, which is often key in an escalation process, and transfer knowledge to them that will allow them to raise financing successfully.

Jamie Riggs , President of InnversionistasAP and Managing Director of ChileGlobal Ventures pointed out that “we have been able to appreciate that the potential and talent that has always existed in Latin America has successfully escalated in the Venture Capital industry. Today the world can see it with the increase in investment by international investors in startups in Latin America. In 2013, the investment in Venture Capital was USD $ 425M for Latam. According to LAVCA, that amount has increased to USD $ 6.2B only in the first 6 months of this year. In addition, some startups such as Políglota, Instacrops, Chipax, Toku, Fintual, among other Latin American companies, have managed to be part of the acceleration program of Ycombinator, a leading US business accelerator in the industry ”.

“Today through VCamp we seek that startups in the region get to know this world closely, generate connections with investors and prepare to raise capital, not only with investors from the Pacific Alliance, but from around the world. We want to attract entrepreneurs to provide them with tools that allow them to become new Latin American success stories ”, emphasized Riggs

It should be noted that at the end of the program, 5 startups will be selected from among the participants, who will be able to present their startups in a Demo Day with investors from the Pacific Alliance and other Latin American countries.

Applications will be open from September 30 to October 17 at Chileglobalventures.cl