LatamList – Clocktower Technology Ventures, a Californian investment firm, announced a new $25M fund exclusively for Latin American fintechs.
Since its launch in 2015, Clocktower Ventures has invested in 96 fintech companies across North America, Europe, and Latin America. A few major LatAm names appear among these: Flink neobank, Habi, and Kushki.
The fund will focus exclusively on fintechs at Seed and Series A stages across Latin America. This includes insurance, payments, personal finance, lending, credit, asset management, real estate finance, and banking.
“We had spent some time before getting to know the landscape and exploring it. About six months ago we realized just how good we believe the opportunity in Latin America to be, and we thought it made sense to pursue a purpose-built innovation strategy in the region,” said Ben Savage, Partner at CTV.
ClockTower Technology Ventures expects to make around 40 investments with the fund over the coming years. The firm will also help connect founders and startups to key players in the global fintech market through investments.
CTV believes that there are a lot of high potential tech companies emerging in the LatAm ecosystem. The COVID-19 pandemic pushed the demand for digital services even further.
“We are excited for the opportunity to get involved during what we think is a great time to invest in Latin America fintech. We believe we can bring real value to local founders due to our fintech expertise, cross-border presence, and highly collaborative co-investor approach,” commented Adriana Saman, Senior Associate at CTV.
Read more on TechCrunch.