Adán Bernal and Israel Pons want to invest in Latin American startups, and not just at the seed level. The two Mexican men, who have significant experience managing investment funds and building successful startups, want to invest in a stable region with high growth to diversify their portfolios and support entrepreneurs in Latin America. The fund is based in London, but focuses on startups in Latin America.
Said Israel Pons in the original article for LAVCA:
“What happens in Latin America is that startups are easily able to raise a first round, from friends and family or seed capital from an accelerator or small VC firm; however, when they look for investment to take the next step, there is a gap; it is almost impossible to get investment to make the leap from seed stage to large investments.”
Mind the Gap will focus on investments in the US$500K to US$5M range, which is largely missing in Latin America. In their first two years, Mind the Gap plans to invest in twelve LatAm companies with a global focus who are involved in tech and/or finance.