Spanish venture capital firm Mundi Ventures completed the first close of its LatAm Fund I, its first vehicle focused exclusively on Latin America and the Caribbean. The fund targets $100M and has secured commitments from BID Invest, Cofides, and two regional financial groups.
Based in Madrid, Mundi Ventures manages about $1.6B in assets and invests in deep tech and B2B companies.
Mundi plans to invest $5M in 12 to 15 startups across Brazil, Mexico, Colombia, Chile, and Argentina. The fund will target early growth-stage companies, from post-seed to Series B, in fintech, insurtech, climatetech, healthtech, and cybersecurity, focusing on businesses with proven product-market fit and annual revenues between $1M and $3M.
Founded in 2015, Mundi Ventures has invested in more than 70 companies globally. Seven have reached unicorn status, including Klarna and Bolttech.
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