Latin America VC Firm Kaszek Raises $975 Million, Defying Slump

Kaszek Ventures, the largest venture capital firm based in Latin America, raised nearly $1 billion across two new funds for investments in the region, defying a recent downturn in financing for the tech industry.

(Bloomberg) — Kaszek Ventures, the largest venture capital firm based in Latin America, raised nearly $1 billion across two new funds for investments in the region, defying a recent downturn in financing for the tech industry.

The Sao Paulo-based company said it raised $540 million for early-stage investments and $435 million for more mature companies. The funds were oversubscribed with backers including university endowment, charities, tech investors and entrepreneurs across the globe, Kaszek said in a statement.

Funding from venture capital firms to startups has dried up since the second half of 2022, with investments falling by half last year to $7.8 billion, according to the Association for Private Capital Investment in Latin America.

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

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