Global 500 Global Venture Capital Firm announces batch 15 of its acceleration program for Latin American companies Somos Lucha. Since January, the 500 LatAm team has been working side by side with the founders of the 10 Latin American companies with a technology component chosen to help them, for 16 weeks, build successful startups capable of receiving a next round of investment.
For 500 Global, this batch is an opportunity to continue with a strategy of participating in markets that have a lot of growth potential. As a bet to invest in the most innovative technologies, he selected companies that venture into industries such as gig economy, insuretech, fintech, and blockchain.
This initiative, having invested in more than 240 startups in the regionunderstands the diversity of needs of each company, which is why it offers a personalized follow-up to each founder through a team that, as a whole, offers 50 years of experience.
By knowing the region in detail, the Global 500 regional fund for Latin America helps entrepreneurs not only connect with other founders to share experience, but also establish business alliances, as well as approach other mentors.
Along with this accompaniment, the companies will receive US$60,000 to foster their growth.
“This is just the beginning of our relationship as investors. It will be a very profound start because we will be showing the companies in which we invest our genuine desire to support them to lay the foundations for their growth and take them to the next stage”, said Guillermo Guadarrama, director of programs for LatAm at 500 Global, in the announcement of this batch.
Last year was extraordinary for Latin American startups. In all of 2021, technology companies based in Latin America managed to attract more than US $ 15,000 million in venture capital investments, according to data recently released by the Association for Private Capital Investment in Latin America (LAVCA). This represents more than triple the levels of 2020, where an investment of US$4 billion was reported.
More sophisticated founders and startups that respond to current needs
René Lomelí, a partner at 500 Global, told Bloomberg Line that one of the things that is remarkable every year is the sophistication of the founders and founders, which brings good practices of building a company that positively impacts the start of a startup.
“The ecosystem of entrepreneurship and venture capital in Latin America has grown exponentially in recent years and the impact it has had on founders year after year is remarkable. We see more and more startups led by people who come with previous experience in relevant startups in the regionas well as the experience they have gained from being exposed to this same ecosystem from content on the internet, online schools such as Platzi or bootcamps, events, etc.”, he pointed out.
In addition, in this batch, the fund makes clear its long-standing commitment to equity and inclusion, with a 60% participation of female entrepreneurs leading the selected companies. “In this generation of companies we have been fortunate to invest in startups with incredible female founders who are revolutionizing each of their industries,” Guadarrama said.
When questioning Lomelí about the industries that are taking off in the entrepreneurial ecosystem, he replied that “Without a doubt, the pandemic has had a great influence on the tools for attracting and retaining talent, health and logistics together with e-commerce.”
For the manager, “the practices we adopt as consumers and as professionals promoted these three industries, awakening and highlighting current needs”, which opened the opportunity for the creation of new startups.
Batch companies 15
In this edition, 1,040 companies from all over Latin America applied, and 10 were chosen. Batch 15 of the Somos Lucha program features startups from Colombia, Ecuador, Argentina, Mexico and, for the first time, Costa Rica.
Regarding the Costa Rican startup Avify, Lomelí stated: “Our team in Latin America actively seeks to invest in all the Spanish-speaking countries of Latin America, and just as in the previous program we made our first investment in Ecuador, the time would eventually come to do it in Costa Rica. This company has the same thing in common as the other companies in which we invest, it has a great team that is talented, with a lot of ambition and with the potential to make a great startup that positions itself throughout LatAm.”
These are the 10 startups that make up batch 15, the first of the three that will take place during 2022.
- Now (Ecuador): Application that offers a comprehensive solution for home repairs, installations and maintenance.
- artificial nerds (Mexico): Platform that helps companies automate chat and voice channels using artificial intelligence.
- notify (Costa Rica): Order management system that helps companies consolidate their sales from multiple channels such as social networks and e-commerce platforms, centralizing their inventory in a single workflow.
- data bits (Ecuador): Online training platform that accelerates the development of skills in Data Science and Artificial Intelligence.
- Koltin (Mexico): Digital health insurance and preventive care for the growing population of older adults in the region.
- payment loop (Colombia): Fintech that accelerates the growth of SMEs by strengthening cash flow.
- New method (Argentina): Monthly sexual and reproductive health subscription that allows people to enjoy sexuality freely and safely.
- Qubit (Colombia): Ticketing platform that helps personalize and monetize events through NFT tickets.
- relief (Ecuador): First integrated health platform that allows the patient to connect with doctors, laboratories, pharmacies and insurers.
- Sconce (Mexico): Unique API that easily connects you to the best APIs in Latin America.
Among the investment successes of the Global 500 during these 10 years that they have maintained a presence in Latin America, two unicorns meet, Clip and Konfío. As well as several recognized companies in the startup ecosystem such as Conekta, 99 minutes, Platzi, Jüsto, Ayenda, Yana, Graviti and Baubap that today are relevant players in the world of entrepreneurship in LatAm.