How we invested $1M in 2019

Last year was a milestone year for the Angel Ventures office in Lima. We invested $1 million in 11 startups across Latin America, accomplishing our mission of enlazando grandes ideas con capital, linking investors and startups.

An open dealflow process ensures that selected founders meet with multiple potential investors along the way. Here is the selection funnel of the Lima office during 2019.

Number of investment opportunities:

The diversity of the dealflow comes from a deliberate approach to process. We actively seek opportunities from across the region and founders from diverse backgrounds and experiences. 

We do that through venture capital funds, co-investment syndicates and matchmaking.

  • AVP Seed Fund I is a seed stage venture capital fund that partners with relentless founders as they build solutions to real problems in Latin America
  • Co-investment syndicates group multiple investors in a single vehicle, allowing founders to receive small investment amounts without burdening their cap tables.
  • Matchmaking comprises direct investments by angel investors who we have introduced to startup founders.

These capabilities allow us to introduce selected startup founders to as many investors as possible. Ultimately, in 2019, we invested $1 million in 11 startups. Of the total invested, 75% was through funds that we administered and 25% was direct investment from indiviuals who are part of AV Network, our angel investor network.

Total invested capital by type in 2019 :

(percent of total investments in 2019)

If we take a double click of managed funds, most of that is from AVP Seed Fund I, our Peru-based seed stage venture capital fund. In addition, we create syndicated funds in order to group angel investors in to one entity. This allows people to invest smaller tickets and founders to recieve one large ticket. We assign one investor from the syndicate to act as representative.

Of the investments of AVP Seed Fund I and syndicates, 46% of capital was invested behind startups led by women. Most of the startups we invested in operate regionally, but the origin of the startups, are a broad mix.

Invested capital by founder profile and startup country of origin:

(percent of total fund investments in 2019)

One key investment from 2019 was in Rebus, an online platform for event organizers. Rebus is led by WeXchange finalist Juliana Villaba and launched in Colombia. Angel Ventures invested through AVP Seed Fund I and a co-investment syndicate. We also invested in Quantum Talent a startup that optimized human resource processes for companies in Latin America.

Our work in 2019 was due to the efforts of Elizabeth Acuña, Frank Cerna, Roberto Arbe, Juan Diego Garcia, Yanira Caraza, Emanuel Sanchez and Rosa Bocanegra. They found the opporunities and prepared founders for investment.

We were able to operate and direct private capital to startup founders in 2019 due to the support we receive from the Peruvian government, through the Innovate program and BID Lab, through the Xcala program.

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