LatAm List – Accion Venture Lab, the seed-stage investment arm of Accion, raised a $23M fund that invests in inclusive fintech startups. Ford Foundation, Visa Inc., and Proparco also participated.
Startups from all over the world will be considered for this fund. Although Accion Venture Lab does not have regional investment quotas, it will allocate 25% to 30% of its funds to Africa.
“We want to continue to focus on Latin America, on Sub-Saharan Africa, on Southeast Asia as well as in the U.S. It really is about where we see the need and the opportunity across the markets that we’re in,” said Accion Venture Lab Managing Director Tahira Dosani.
Accion Venture Lab already has a portfolio of 36 fintech startups of which nine are in the US, eight in Latin America, and another eight are in India.
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