Top regional founders (Nubank, Mercado Libre) and VC general partners (a16z, QED, NFX) are some of the backers of Latitud Ventures. Fund II has a target fund size of USD 25M, and it's already done with its first closing. Latitud Ventures writes the first check for high-potential Latin American founders to go from 0 to 1.
Latitud Ventures, the venture capital firm that leads pre-seed rounds for startups throughout Latin America, announces the first closing of its Fund II.
LPs in Latitud Ventures funds include individual investors such as Angela Strange (a16z), Carlos García (Kavak), David Vélez (Nubank), Henrique Dubugras (Brex), Patrick Sigrist (iFood), Sergio Furio (Creditas), Sebastian Mejía (Rappi), and Stelleo Tolda (Mercado Libre). It also includes institutional investors such as Globo Ventures, Galicia Ventures, Industry Ventures, NFX, and FJ Labs.
This first closing attracted both regional and global investors. Latitud Ventures Fund II comes almost two years and a half after launching their Fund I, a rolling fund that invested USD 12M+ in 100+ early-stage startups throughout Latin America.
"Latin America's startup landscape has changed drastically in the past decade. We're now at a moment of maturity after growth. Startups born in this context are required to do more with less, focus on what's really going to move the needle, and create categories rather than simple features. The ecosystem is well-positioned to see a great vintage in the next few years, and Latitud Ventures is supporting these startups at the time they need the most, providing their first institutional check", Brian Requarth, general partner at Latitud Ventures and co-founder and CEO of Latitud, says.
Startups in Latitud Ventures' portfolio include Alinea Health, BHub, Clubbi, Dinie, Finkargo, FUDO, Pomelo, StarkBank, Treble, and Yuno. Many of the startups in the portfolio showcased their most recent developments at Vamos Latam Summit, Latitud's flagship event that happened on September 28th and 29th in São Paulo (Brazil).
Latitud Ventures is the ideal pre-seed, first-check partner for high-potential LatAm founders. Many of them lack the tools needed to go from 0 to 1, from getting to product-market fit to having effective relationships with investors.
Latitud Ventures provides direction-changing fundraising support. Founders can connect with top regional and global downstream VCs: Latitud Ventures has already co-invested with top firms on its Fund I, such as a16z, DST, Founders Fund, General Catalyst, Index, Insight Partners, Kaszek, Monashees, QED, Ribbit, and Sequoia.
"We're the generalist, pan-regional first-check venture capital firm that Latin America needed. We provide the support necessary for these startups to advance to the more mature Seed fundraising scene, that has dry powder already committed", Tomas Roggio, general partner and head of Latitud Ventures, says.
Founders in the portfolio also become a part of the Latitud Community, with 1,200+ top players in the Latin American startup ecosystem. There, they can connect with other LatAm founders, angel investors, and mentors who can help solve their early-stage, LatAm startup's specific problems.
This support is only possible because Latitud Ventures leverages Latitud's flywheel. Latitud Is building the infrastructure that will support the next generation of tech startups in Latin America. Listening to its community, Latitud has created a suite of solutions to help tackle the highest friction points for early-stage entrepreneurs starting companies in LatAm.
Latitud offerings include Latitud Formation, a company formation product to help LatAm founders be venture-ready; Latitud Finance, a business account for LatAm startups that need to manage their runway, move capital across borders, and keep their flow of funds compliant; top education and connection events such as the Vamos Latam Summit; and, of course, Latitud Ventures to supply founders their much-needed first check.
Latitud Ventures invests throughout the early-stage startup scene in Latin America, with special attention to the Brazilian and Mexican markets. Latitud Ventures is sector-agnostic but has a bias towards fintech, e-commerce, and vertical SaaS. It's also agnostic in terms of the business model but has a bias towards B2B and B2B2C.
With Fund II, Latitud Ventures aims to lead 40 pre-seed rounds and co-invest in other 20 seed rounds in the next three years.
The pre-seed check will be around USD 250k per startup, keeping Latitud Ventures' collaborative role and allowing top co-investors in the round. 25% of the fund is reserved for follow-on investing.
A new plan for Fund II is offering founders standardized pre-seed investing terms. "Having clear guidelines on check sizes, valuations, and ownership targets provides transparency and agility to startup founders. Fundraising is oftentimes a long process. Providing clarity allows entrepreneurs to give more attention to what will take their startup to its next milestone", Marcial González Fraga, Principal at Latitud Ventures, says.
Latitud is building the infrastructure that will support the next generation of top tech startups in Latin America. The tech platform was founded in 2020 by Brian Requarth (co-founder of Viva Real, acquired by OLX for US$ 600M), Gina Gotthilf (early employee and former VP of Growth at Duolingo, leading the company from 3 to 200 million users), and Yuri Danichenko (former CTO at a leading B2B tech platform in Brazil).
The company is creating a suite of solutions to help tackle the highest friction points for early-stage promising entrepreneurs starting companies in Latin America.
Besides its community of over 1,200 selected fellows who have raised over USD 650M with investors, Latitud’s flagship offerings include Latitud Formation, a corporate incorporation product to help LatAm founders be venture-ready; Latitud Finance, an international business account for LatAm startups that need to manage their runway, move capital across borders, and keep their flow of funds compliant; and Latitud Ventures, an early-stage venture capital fund that has already invested in over 100 startups throughout LatAm.