Greg Mitchell

uDocz’s investment round shows Peru is an Edtech hub

Peruvian start up uDocz recently announced an investment round led by GSV Ventures, one of the most prominent Edtech venture capital firms in the world. This is GSV Ventures’s first investment in a Latin American startup. GSV has previously invested in well known EdTech startups including Coursera, Degreed, and Guild Education.

uDocz Founder Carlos Effio and his team of 20 employees have been hard at work over the past four years quietly building one of the largest libraries of Spanish language content for college students. uDocz’s customers are primarily university students and students studying to apply to university. uDocz’s active user base has achieved significant growth since the outbreak of the pandemic enabling university students to study remotely and continue learning. uDocz is an example of how disruptive edtech startups are transforming and improving the quality of education in Latin America.

Entrevista Francisco Navarro-Grau

Francisco Navarro-Grau es Head de RPP Ventures, el fondo de media for equity del Grupo RPP, donde se encarga de buscar y estructurar nuevas inversiones, además de administrar el portafolio de startups. Anteriormente, Francisco trabajó en las áreas de Riesgos y Producto del BCP.

50 startups in Peru ready to take-off

Recently announced successful rounds in Peruvian startups have highlighted the quality of local startup founders. They are also validation that Lima offers a great starting point for launching regional tech businesses. Examples of startups that have raised significant rounds of capital over the last twelve months are: Crack the Code, Crehana, Chazki, Favo, Leasy, and Turbodega. Add to these startup rounds the recent acquisition of Freshmart by Justo, and you have a multiple examples of capital entering Peru across a range of sectors and stages. Importantly, the capital is coming from top tier venture capital funds across Latin America, including Tiger Global, Elevar Equity, General Atlantic, and Kaszek.

The good news for investors is that this is the tip of the iceberg in terms of Peru’s startup potential. There is a growing list of up-and-coming startups in Peru. Most of these companies have achieved product market fit, raised a solid seed stage round and are growing fast. They have been supported by local seed investors including, AVP, Inca Ventures, The Board, UTEC Ventures, and Winnipeg Capital, all funded by private capital. In addition, local programs EmprendeUP, Endeavor ScaleUP, and USIL Ventures, have all provided essential support to get startups to the seed stage in a position of strength. These local sources of funding and support open up new paths to success for Peru’s startups.

Yes, you can trust startup founders

The personal qualities of typical startup founders coupled with structural dynamics of startup investing, ensure that mutual trust pays dividends.

Here are some reasons why it makes sense to trust startup founders:

Market makers

All financial markets need market makers in order to remove frictions and facilitate transactions. While in the public markets, market makers buy and sell securities, in longer-term private markets, they can help set prices and build co-investment syndicates. This function allow capital that is sitting on the side lines to jump in. Nowhere is this more true than in nascent, immature markets.

In Peru, we are witnessing the positive evolution of the local venture capital industry. What was once a few one-off angel or family office investments in startups has turned into a vibrant, fully functioning startup ecosystem with multiple local funds investing actively.

A key market-making role has been played by three funds in particular: Winnipeg Startup Fund, Inca Ventures, and AVP Seed Fund I, where I work. Here are some of the things that we have done:

Still on the cusp

Peru’s startup moment has arrived. What are we waiting for?

In early 2020, I wrote that Peru’s startup ecosystem was ready for a leap forward. The country was at the inflection point of building a vibrant venture capital industry. Then the pandemic hit. Two years later, Peru’s local venture capital industry seems to be running in place.

Entrevista Luis Arbulu

Luis Arbulu es Partner de Salkantay Ventures y cuenta con quince años de experiencia de inversión en startups en Estados Unidos y Latinoamérica. Luis es co-founder de Xertica, Endeavor Entrepreneur y miembro del Directorio de Endeavor Perú. Ha sido seleccionado como Young Global Leader del World Economic Forum.

Entrevista Elizabeth Acuña

Elizabeth Acuña es Principal de AVP y Vice Presidente del Directorio de PECAP. Ha invertido en más de 15 startups en Perú y otros países de Latinoamérica a través de AVP Seed Fund I. Es founder de Women Empowerment y fue Project Manager del WeXchange STEMprenuers Pitch Competition.

Entrevista Natasha Barantseva

Natasha Barantseva es Managing Partner en Andes Impact Partners, un fondo de impacto que invierte en empresas que tiene una mayoría de sus operaciones en Perú o Colombia.

Linkedin: Natasha Barantseva

Entrevista Oscar Galovich

Oscar Galovich Hopkins es un inversionista ángel en Perú. Ha invertido en Culqi, Fitco, Rebus y Equip Industry. Ha trabajado en el área comercial de Repsol y como coordinador logístico en Techo. Oscar se graduó de la Universidad de Lima donde estudió Ingeniería Industrial.

LinkedIn: Oscar Galovich

Entrevista Meghan Stevenson-Krausz

Meghan Stevenson-Krausz es Directora de INCA Ventures y Presidenta del Directorio de PECAP. Es fundadora de InclusivX, una organización que promueve equidad, diversidad e inclusión en la industria de venture capital en Latinoamérica. Meghan fue miembro fundador del Directorio de WeInvest Latam y es miembro de Global Shapers, ha sido parte del hub de San Francisco y ahora del hub de Lima.

Linkedin: Meghan Stevenson-Krausz

Twitter: @meghan_sk

Otro: https://meghansk.medium.com

Entrevista Jose Deustua

Jose Deustua es Managing Director UTEC Ventures y miembro del Directorio del PECAP. Ha invertido en más de 30 startups en Perú y Latinoamérica.

Linkedin: Jose Deustua

Entrevista Maria Pia Morante

Maria Pia Morante es Gerente de Inversiones en ALIVE Ventures, donde es responsable del origen, estructuración y administración de inversiones, particularmente en Perú. Antes de ALIVE, Maria Pia fue Jefe de Investigación de Renta Variable de Profuturo AFP. Maria Pia tiene un MBA de la Universidad de Duke y una licenciatura en Economía y Finanzas de la Universidad de Piura.

Linkedin: Maria Pia Morante

Entrevista Eduardo Peláez

Eduardo Peláez es Socio de UNE Asesores Financieros e inversionista ángel. Su estrategia de inversión temprana incluye inversiones en fondos como Luchadores III de 500 Startups, Arpegio y AVP Seed Fund I e inversión directa en startups, como Riqra, Arrivedo y Pawiis.

Linkedin: Eduardo Pelaez

Twitter: @eduardopelaezs

Entrevista José Garcia Herz

Jose Garcia Herz es Managing Director de Winnipeg Capital y miembro del Comité de Inversiones de Winnipeg Capital Startup Fund. Ha invertido en más de 15 startups en Perú y Latinoamérica en distintos niveles de madurez. Tiene amplia experiencia no solo en startups, sino también en administración de fondos, banca de inversión, gobierno corporativo, planeamiento estratégico, mercados emergentes y fusiones y adquisiciones. Apasionado de la enseñanza y del aprendizaje considera que invertir en startups es la intersección perfecta entre la innovación, el impacto, las finanzas y la transmisión de conocimientos.

Linkedin: José Garcia Herz

Twitter: @jgarciaherz