The raise came despite declining VC investments in the region.

Kaszek Ventures, the largest venture capital firm in Latin America, has secured almost $1 billion for two new funds to invest in the region, despite a recent decline in financing for the tech industry.

The Sao Paulo-based company raised $540 million for early-stage investments (Kaszek Ventures VI) and $435 million for more mature companies (Kaszek Ventures Opportunity-III), with support from university endowments, charities, tech investors, and entrepreneurs worldwide. (Bloomberg)

According to the Association for Private Capital Investment in Latin America, funding from venture capital firms to startups in the region has decreased by half since the second half of 2022, reaching $7.8 billion last year.

Founded by Hernan Kazah and Nicolas Szekasy, former executives of MercadoLibre Inc., the firm has raised nine funds with a total of $3 billion and backed more than 120 companies, including Nubank, a Brazil-based fintech firm that went public in late 2021.

Areas of investing interest include in industries such as fintech, enterprise/SaaS, proptech, insuretech, health tech, edtech, e-commerce, food tech, climate tech, biotech and blockchain.

According to the Association for Private Capital Investment in Latin America, funding from venture capital firms to startups in the region has decreased by half since the second half of 2022, reaching $7.8 billion last year.

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Photo of Sao Paolo by Joao Tzanno on Unsplash