LatAm List – CLIN is a fund within Fundación Chile that brings together corporate and government resources to invest in startups that promote sustainability. The fund is worth US$18M; Chile’s development fund CORFO provided two-thirds of the capital, while the other third came from Zoma Capital, Entel, and Engie Factory.
CLIN invested US$300K each in the startups Instacrops and SimpliRoute to support sustainability in Chile’s strongest industries. Instacrops is an agricultural monitoring system, while SimpliRoute is a logistics platform that helps make deliveries more efficient.
“We want to mobilize the entrepreneurial talent that is solving Chilean problems that have global relevance…We want to optimize Chile’s strongest industries and resources, including water, energy, environment, mining, and agriculture, so we can combine them with technology like big data, smart cities, and the internet of things,” said Sofia Grez, CFO of ChileGlobal Ventures.
CLIN is actively looking for dealflow to invest further in Chilean startups working in sustainability.
Read more in Diario Financiero.