While much is said about the “winter of startups”, Kaszek put its hand in investors' pockets and raised almost US$ 1 billion for two new funds aimed at opportunities in the Latin American market.
The company announced this Monday (3) the creation of the Kaszek Ventures VI and Kaszek Ventures Opportunity III funds, which together add up to US$ 975 million. The amount is slightly less than the US$ 1 billion that Kaszek had raised in 2021 for its previous funds (US$ 475 million and US$ 525 million, respectively). With the new funds, Kaszek adds US$ 3 billion divided into 6 early-stage funds and 3 more focused on more advanced opportunities
Despite being lower than the previous funding, the closing of new funds is an important signal for the market that there is still demand despite the regrets. It also helps, of course, the fact that it is one of the oldest managers and with one of the best track records in the segment, with cases like Nubank, which paid the I fund a few times.
According to Kaszek, interest in the new investment vehicles came from global investors such as “the largest and most prestigious university endowments, prominent philanthropic foundations, renowned technology investors and renowned entrepreneurs”.
Talking about each of the funds, Kaszek Ventures VI will be an early-stage fund with a total capital of US$540 million, the largest vehicle of its kind ever raised in the region. According to the manager, the focus will be on leading seed, series A and B rounds with high-impact Latin American technology companies. Hernán Kazah told TechCrunch that the plan is for Ventures VI to invest in around 20 to 30 companies, with checks ranging from $500,000 to $25 million.
Kaszek Ventures Opportunity III has a total capital of US$ 435 million for investments in more advanced stages. In this range, Kaszek's expectation is to sign checks of US$ 10 million to US$ 50 million.
"The fund (Opportunity III) will primarily provide capital to Kaszek's portfolio companies that are in more advanced stages, but will also pursue primary and secondary opportunities outside of Kaszek's portfolios," the company explained in a note. According to Kaszek's co-founder and managing partner, Hernán Kazah, the plan with the new funds is to seek founders whose business plan is centered on the strategic use of technology to gain competitive advantage. “We don't limit ourselves to any specific sector,” he said.
Founded in 2011, Kaszek has invested in more than 120 companies, which collectively have raised more than $15.5 billion. It currently has companies in its portfolio in a variety of sectors, such as fintech, enterprise/SaaS, proptech, insuretech, health technology, edtech, e-commerce, food technology, climatechs, biotechnology and blockchain. They include Nubank, QuintoAndar, Kavak, Creditas, NuvemShop, Bitso, Gympass, Notco, MadeiraMadeira, Loggi, Konfio, Technisys, Kushki and Cora. Source: StartSe
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