VC Funds

Peruvian Development Bank and Association for Early-Stage Capital agree to boost VC Industry in Peru

LatAm ListCOFIDE, Peru’s Banco de Desarrollo, and PECAP, the Asociación Peruana de Capital Semilla y Emprendedor, will be cooperating to push forward the development of Peru’s venture capital industry. The alliance was signed in March and will last one year according to a press release.

“This agreement has two main objectives, on the one hand, to use information managed by both parts to evaluate the financial needs of startups; on the other hand, to offer training that will democratize access to the venture capital industry in Peru,” said Desirée Alayza, Development and Innovation Manager at COFIDE.

During 2018, $9.1M were invested in Peruvian startups, and 11 local and foreign funds invested seed and venture capital, according to PECAP’s last trimestral report. In total, there were 9 rounds of foreign investment valued at $2.3M.

“PECAP brings together investors in Peru’s startup ecosystem to boost investment in innovative startups at an early stage. This agreement with COFIDE allows us to continue addressing our goal, to support entrepreneurs in Peru,” said Greg Mitchell, PECAP’s President.

The institutions will cooperate in creating activities, training, and educational programs to promote high impact startups in the ecosystem.

Read more in this press release.

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