Kaszek Ventures, one of Latin America’s pioneering venture capital firms, has successfully raised $975 million across two new funds. The São Paulo-based firm closed Kaszek Ventures VI, a $540 million early-stage fund, and Kaszek Ventures Opportunity-III (KVO-III), a $435 million fund for later-stage investments.
Latin American startups have seen a boom in investor interest, particularly after 2021, when VC capital deployment in the region reached $15.9 billion, a sharp increase from just $2 billion in 2018. While the pace slowed in 2022, with $7.8 billion deployed, the region continues to produce high-growth companies, including many unicorns.
Kaszek Ventures has backed over 120 companies since its founding in 2011, with these companies collectively raising more than $15.5 billion. The firm aims to invest in 20 to 30 early-stage companies through its latest fund, with checks ranging from $500,000 to $25 million. The Opportunity Fund will focus on later-stage investments, backing 10 to 15 companies with checks from $10 million to $50 million. KVO-III will also look for new opportunities outside of Kaszek’s early-stage portfolio.
The firm seeks exceptional founding teams that leverage technology for a competitive edge, and its portfolio spans a variety of industries, including fintech, health tech, edtech, proptech, and blockchain. Notable investments include Nubank, QuintoAndar, Kavak, and Gympass.
Kaszek’s most significant exit to date is digital bank Nubank, which went public on the NYSE in December 2021. The firm’s founders, MercadoLibre co-founders Kazah and Szekasy, are highly active in Latin America’s venture space, with the firm’s focus primarily on Brazil, Mexico, and other key regional markets.
With its recent funds oversubscribed, Kaszek continues to attract global investors, including university endowments and technology entrepreneurs. Despite market uncertainty, the firm is optimistic about the long-term growth of the Latin American tech sector.
