Kaszek has been founded by former executives of MercadoLibre Inc.

Kaszek Ventures, the leading venture capital firm in Latin America, has recently raised a substantial sum of USD $1 billion, bolstering its position in the region’s business ecosystem. Despite the challenging landscape of declining investments in startups throughout Latin America, Kaszek has bucked the trend with this funding. In 2022, the firm made just two investments, but by September of this year, it has already invested in seven companies, including a noteworthy USD $13 million investment in Colombian fintech company, Cobre.

Kaszek’s founders, Kazah and Nicolás Szekasy, former executives of MercadoLibre Inc. (NASDAQ: MELI) have managed to secure USD $540 million for early-stage investments and USD $435 million for late-stage companies, supporting over 120 firms, with Brazilian fintech Nubank being a standout success story.

Kazah Szekasy, a Stanford graduate with a rich entrepreneurial background, anticipates deploying all funds by the end of this year or early 2024. He recognizes the challenges faced by startups seeking capital and sees potential in climate tech-focused startups and artificial intelligence.

As 2024 nears, Kaszek Ventures is gearing up for an acceleration in its operations and is actively exploring six to seven promising deals. Despite the current downturn in investments compared to 2021, Kazah remains optimistic, hoping for a rebound in the region’s startup scene in the coming months.

Related Story:  FinTech Powers LatAm E-commerce Giant MercadoLibre Inc To Quarterly Profit

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