A $50 million fund has been established by Chile-based 30N Ventures to promote businesses in Latin America, Southeast Asia, and Africa. 30N Ventures focuses on late seed and series A investments.
30N Ventures, which was founded by Tomas Denecken, Salvador Said, Juan Luis Palma, and Dan Kranzler, mainly targets the financial, foodtech, and retail industries. According to a release, the four VC partners have made over 200 investments and are currently managing more than US $6 billion in assets.
The four founders have also contributed a “relevant amount” to the fund, according to Denecken, who noted that the majority of the US $50 million fund was raised by limited partners.
About US $2 million will be the typical investment ticket size. In addition, the venture capital company is saving 40% to 45% of the investment for further rounds, Denecken said.
“With a hands-on mindset, the partners and the sector-specific experts will help portfolio companies shorten the already-known processes to scale up quickly,” said Denecken. The VC fund is exit-oriented and “from series B onward, we will be pipeline facilitators creating an exit path through strategic partners,” he added.
