Final Close Announcement — Salkantay Exponential Fund LP
Salkantay Ventures closes its USD 26 million fund to invest in entrepreneurs that leverage technology to solve Latin America’s most pressing challenges
Salkantay Exponential Fund LP (“SXF”) is the first VC fund of Salkantay Ventures (“Salkantay”), an emerging manager originating from Peru, and the country’s largest venture capital fund.
SXF invests in early-stage companies across three main themes:
- Maximizing Human Potential: Start-ups that enable individuals in the region to unleash their full potential through education, training, and access to quality jobs, as well as technologies that improve health and wellbeing.
- Economic Inclusion: Start-ups that increase productivity through digitization, particularly at the SME level, or that increase economic inclusion through financial services.
- Sustainability: Start-ups that mitigate the impact of climate change and foster the responsible consumption of natural resources.
So far, SXF has invested in 14 high-impact companies, including:
Maximizing Human Potential:
- Edtech: Ubits, Slang, Aprende, uDocz
- Jobtech: Torre, Talently
- Wellness: Manzana Verde
- Fintech: Migrante, Minu, Prestamype, Cometa
- Proptech: Aptuno
- SaaS: Leal
- Cleantech: Kilimo
The fund will make seed to series A investments in up to 25 technology-based startups from Spanish-speaking Latin America, with a focus on the Andean region, to promote regional expansion.
The final closing of the fund includes two major institutional investors, the Dutch Good Growth Fund and Bancóldex (1), adding to an already strong anchor investor base that includes Capria Fund, IDB Lab and the Peruvian Fund of Funds, managed by COFIDE.
“At Salkantay, we are excited to ramp up our capacity to invest in startups that are leveraging technology to bridge real gaps in Latin America. With a growing number of funds committed to the region and the sustained growth in entrepreneurship, we expect to see more dynamism in our economies.” — Luis Daniel Arbulú, Partner at Salkantay.
“With our investment in Salkantay Exponential Fund, DGGF strives to increase access to risk-capital for impactful businesses in the Andean region. We are excited to partner with Salkantay’s team in this mission and support them to become an established impact investor in Latin America.” — Marie Heydenreich, Senior Investment Manager at DGGF.
“This investment will allow us to continue mobilizing capital towards Colombian entrepreneurs, as well as promoting their expansion in the Andean markets, especially in Peru, with an experienced partner such as Salkantay.” — Javier Díaz, Chief Executive Officer at Bancóldex.
Salkantay is a member of the Capria Network, the leading network of fund managers from the Global South. “Salkantay is uniquely positioned to drive the growth of venture in the Andean region. The investment team has a long track record as investors, but also as entrepreneurs and company builders, both in Latin America and in Silicon Valley.” — Susana García-Robles, Senior Partner at Capria and Senior Advisor at LAVCA.
About the Dutch Good Growth Fund
The Dutch Good Growth Fund (DGGF) ‘Financing Local SMEs’ provides financing to intermediary funds and financial institutions with the goal of developing financial ecosystems for missing middle SMEs in frontier markets. Spurring growth of inclusive businesses led by young and female entrepreneurs is at the heart of the DGGF mandate. The DGGF is owned by the Dutch government and managed by Triple Jump and PwC.
Bancóldex, through its Fund of Funds, promotes the development of the private equity and venture capital industry in Colombia and Latin America, and encourages investments in Colombian companies, with a special emphasis on innovative entrepreneurs that are ready to scale.
Capria is the leading network of fund managers from the Global South collaborating to deliver superior returns and scaled impact. The member firms are managing assets exceeding USD 1 billion with a presence in 37 emerging countries across Africa, Latin America, and South and Southeast Asia. Led by more than 50 senior local investment principals, these Capria Network members work together to share expertise, best practices, business connections, and investment resources as they invest in and provide support to early-stage, fast-growing local startups.
(1) The commitment was approved in July, 2022. The execution of the investment is subject to the completion of negotiations of legal documentation.