Peruvian Salkantay Ventures closes first VC fund at $26M

Salkantay Ventures, the largest VC fund in Peru, has closed its first venture capital fund, Salkantay Exponential Fund (“SXF”), for $26M. The final closing of the fund includes two important institutional investors: the Dutch Good Growth Fund (DGGF) and Bancóldex. They join existing investors Capria, the IDB Lab, and the Peruvian FCEI.

Through this fund, the firm will invest in seed and Series A rounds in up to 25 technology-based startups in Spanish-speaking Latin America. It will be focused on startups that leverage technology to solve Latin America’s biggest challenges.

“It was an arduous, long and difficult process in which we were testing the investment thesis, that there was an opportunity to invest in startups in the region that were going to have an impact and continue to grow,” said Luis Arbulú, partner at Salkantay Ventures.

According to Arbulú, the vast majority of the fund will be invested in startups in the Andean region, mainly in Peru and Colombia. So far, SXF has invested in 14 high-impact startups. Some of them are Ubits, Slang, uDocz, Talently, Manzana Verde, Migrante, Prestamype, Cometa, Aptuno, Leal, Kilimo, among others.

“With our investment in Salkantay Exponential Fund, DGGF seeks to increase access to entrepreneurial capital for impact companies in the Andean region,” said Marie Heydenreich, Senior Investment Manager at DGGF.

Read more on Forbes.

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