At the local level, since 2017 VC funds have begun to emerge which, unlike angel investors, are able to build a portfolio of several companies, diversify risk and achieve large returns (in some cases up to 10 times placed it).
Increase
“In recent years there has been great growth not only in the industry, but also in the stages in which funds are invested,” says Martín Aspillaga, director of Salkantay Ventures.
“VC is not just investing in companies that are at an early stage, but in companies that can be successful,” says Aspillaga. He adds that these types of investments can go until the moment startups break even, but they don’t necessarily stop there.
Salkantay Ventures is currently in the process of raising capital for its fund which is capped at US $ 25 million.
“Today we have around US $ 15 million. Depending on how it is measured, we could be the largest fund locally. ”
The capital, he comments, comes from sophisticated individual investors (founders of startups, people who invest in technology and who are part of the Peruvian ecosystem and the region), family offices and multilaterals.
Salkantay Ventures currently has a portfolio of seven companies, including Aptuno, Slang, Ubits and Minu. “They are all companies born in Latin America and have a regional vision,” he says.
Aspillaga comments that the fund has a focus on startups that offer solutions for smart cities and logistics; fintechs, education and health; and, finally, platforms for small, medium and large companies.
The goal of Salkantay Ventures is to make between four and six investments a year in the next four years in order to build a portfolio of up to 25 companies.
Aspillaga comments that in countries like Colombia the total amount invested in startups is up to 10 times greater than that of Peru.
“We have made an important leap in recent years, yes, but the country is still behind,” says Aspillaga. He warns that, despite the progress, there comes a time when startups, in search of higher investment tickets, will have to resort to funds from abroad in order to continue growing, something that has already been seen last year.
