Salkantay Partners Wins Innóvate Peru’s Capital Emprendedor Grant
Innóvate Peru has announced that Salkantay Partners will receive a grant from the Peruvian government to launch and operate Peru’s first Venture Capital fund
The fund management company Salkantay Capital Partners was chosen the winner of the Capital Emprendedor contest of Innóvate Peru. The objective of the contest is to promote the creation and implementation of Venture Capital Funds (“Venture Capital”), and thus promote the Venture Capital industry in Peru.
Sociedad Gestora de Fondos de Inversión Salkantay Capital Partners has been chosen as the winner of the Capital Emprendedor contest sponsored by Innóvate Peru (the innovation agency of the Peruvian government). The contest was designed to foster the creation of venture capital funds to promote investment in innovation and early stage ventures in Peru.
As the winner of the grant, Salkantay will receive funds to launch the “Salkantay Exponential Fund” or SXF, a venture capital fund with a target size of $ 25 million. SXF will invest in the startup and scaleup phase of companies in high impact sectors across Peru and the Pacific Alliance.
Salkantay’s mission is to be a transformative agent that will take advantage of the unique venture capital opportunity that distinguishes both Peru and the region from among their global peers. In 2018, investments in venture capital grew 5x in Peru and 4x in the Pacific Alliance, a potential market of 200 million consumers and US $ 4 trillion in value.
Innóvate Peru has been instrumental in promoting the transformation of Peru’s innovation ecosystem and its growing integration with the region, as it has launched public initiatives to promote technological entrepreneurship. Among them, the Capital Emprendedor Grant aims to close the existing investment capital gap at the venture capital level.
Salkantay Exponential Fund (SXF) the venture capital fund of Salkantay is the first and only final beneficiary of the Capital Emprendedor Grant of Innóvate Peru.
