opciones de financiamiento en lat am
DESCRIPTION
TRANSCRIPT
NOVEMBER 2013
www.nazcaventures.com
FINANCING IN LAT AM
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INTEREST
BANK LOAN CREDIT CARD DEBT CONVERTIBLE NOTE (PRE
CONVERTION) SOME FFF LOANS
CONVERTIBLE NOTE (POST CONVERTION)
SOME PREFFERED EQUITY
NO INTEREST
SOME FFF LOANS GRANTS PRIZES SAVINGS
SOME NON PREFERED EQUITY SOME STRATEGIC ALIANCES SOME EOM (PROVIDERS)
PARTNERSHIPS
NO EQUITY EQUITY
CURRENT FUNDING STAGES IN LATAM
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SEED INVESTMENT
EARLY STAGE INVESTMENT
VC INVESTMENT (SERIES A)
ROUND SIZE IN LATAM
$10K to $150K
$150K to $750K
$750 to $3MM+
TARGET COMPANIES 8K 4K 1K
DEALS/ YEAR 3K 300 60
FUNDING SOURCES Country specific: government, angels,
accelerators
Country specific funds
Many country specific funds, new
regional funds
INTERNATIONAL FUNDING
Few Few Much
EVOLUTION Numerous accelerators
Many country specific fund in the
making
Many regional funds in the making
LIMITED OPTIONS
LOCAL ANGEL INVESTMENT
FEW FUNDS
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Buenos Aires Emprende and similar,
Fonsoft and similar
Pre product/ market fit to established companies
Up to USD 10k to 100k, grant or loan
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Funding: Wayra, NXTP, Incutex, Njambre
Mentoring: ITBAF, DoingLabs
Future: Startup Buenos Aires
Pre product/ market fit
USD 25K to USD 50K
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Club de Angeles del IAE, Club de Angeles de Inversor Global, MELI fund
Pre product/ market fit
USD 25k to USD 100k for equity
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Nazca Ventures, NXTP Labs (Follow on), Alaya Ventures, Enzyme Ventures, Primary Ventures, FIT
Post revenue
USD 100k to USD 300k for equity
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Kazsek Ventures, Navent, FIT
Internationalization
USD 750k or more
GOVERNMENT SUPPORT
MANY FUNDS
MUCH COMPETITION
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Startup Brazil, 8 accelerators, 5 to 10% equity
Mina Gerais SEED Program
Pre product/ market fit
Up to USD 10k to 40k
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Funding: Wayra, 21212, Pipa, Papaya Ventures, TreeLabs,
25+ programs
Pre product/ market fit
USD 25K to USD 50K
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Confrapar, 21212, Initial Capital
Post revenue
USD 100k to USD 300k for equity
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Monashees Ventures, E Redpoint Ventures, Intel Capital, Accel Partners, Kazsek and 30 Ventures Capital Funds more
Internationalization
USD 750k or more
GOVERMENT SUPPORT
FEW FUNDS
INCOMPLETE ECOSYSTEM
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Start Up Nation, RutaN
Pre product/ market fit
Up to USD 100k, grant
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8 accelerators including Wayra, Apps Co, Atom House and others
Pre product/ market fit
USD 25K to USD 50K
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Nazca Ventures, Vellum Capital
Post revenue
USD 100k to USD 300k for equity
FEW FUNDS
INCOMPLETE ECOSYSTM
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Wayra, Naranja Labs, Mexican VC
Pre product/ market fit
USD 25K to USD 50K
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InvestMex, Angel Venture Mexico, Naranja Labs, Mexican VC
Pre product/ market fit
USD 25k to USD 100k for equity
LIMITED INVOLVEMENT IN LAT AM
ACCELERATORS AND SERIES A/B
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500 startups, Entrepreneurs Round Table, Miami Launch Pad Miami
Pre product/ market fit
USD 25K to USD 50K
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Emergence Capital, Riverwood Capital, Sequoia Capital, Tiger International, Insight Venture Partners, Flybridge Venture Partners among others
Internationalization
USD 750k or more
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La Caixa, Grupo de Angeles de IE, others
Angel investing, Early Stage and VC
25K to +1MM for equity
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Wayra Peru
Pre product/ market fit
Up to USD 50k for equity
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ANII Government Agency
Pre product/ market fit
USD 25K to USD 50K
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Prosperitas Capital Partners
Pre product/ market fit to regionalization
USD 50K to USD 500K
GOVERNMENT SUPPORT
MANY FUNDS
OPEN TO FOREIGNERS
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Easy to land and start selling
Per capita GDP and Purchasing Intend higher in LA
Huge number of big companies/ retailers
Special trade agreements with US, Asia and Andes
Legal and monetary security
Si, hablan español!
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Accelerators, Universities, NGOs, Funds, Companies and Government all work together
All stages represented, from seed to series B
CORFO (Government agency) finances private initiatives
Chilean entrepreneurs have been in SV since 08
Companies are investing in startups
Chile welcomes all!
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Apply online 6 times a year
Pre product- market fit
USD 40K reimbursable grant
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CAPITAL SEMILLA: Through network of more than 10 accelerators such as IncubaUC
Wayra, Movistar Innova
Pre product/ market fit
Up to USD 120k. 5 to 10%
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Chile Global Angels, Mujeres Empresarias, Others
Pre product/ market fit
USD 50to USD 150k for equity
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Nazca Ventures, Fen Ventures, Vesubio Ventures, NXTP (follow ons)
Post revenue
USD 250to USD 750k
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Inversur Ventures, Austral Capital, Aurus Capital, CoPec-Uc, Nazca Ventures (follow on)
Internationalization
USD 750k or more
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Uruguay, Peru.
Some funds, incomplete ecosystem
Gov. support, many funds, much competition
Very limited, local angel investment, no funds
Gov. support, some funds, open to foreigners
Gov support, no previous experience, some funds
Limited involvement in Lat Am. Series A onwards
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All investors and partners are entrepreneurs.
Transform local tech startups into regional/global players.
Companies with a Chilean-based corporation.
Early stage tech startups.
USD 250K to USD 750K, co-investment.
Capital to grow and internationalize.
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Implementation of financial reports and operational KPIs for data driven decision making.
Active involvement of partners and investors as mentors and board members. Help with positioning, execution, others.
Commitment to share our broad network in each industry, towards the development of partnerships and regional /global growth.
Explore synergies within the portfolio to increase sales, optimize resource allocation and increase exit potential.
Local investors will help startups soft land in each country, including access to HR, service providers and office space.
Prepare companies strategically to increase valuation and access top notch investors in their next rounds.
PARTNER Entrepreneurs Relations
VANESA KOLODZIEJ
• Co-founder of three tech companies, including Bumeran • Entrepreneur in Residence, Mark Ventures • Co-founder, Palermo Valley • BA, Universidad de San Andrés. Entrepreneurship, Babson College
EDUARDO AMADEO
PARTNER Operations
• Co-founder, Buenos Aires Emprende • BA, Universidad Di Tella; MBA, Universidad de San Andrés • SMsB consultant with over 15 years experience
SANTIAGO CANIGGIA BENGOLEA
PARTNER Corporate Affairs
• Corporate Affairs and Co-founder, Faro Capital, sustainable agricultural fund
• Founder, Bodega del Plumerillo (Winery) • Lawyer, Ernst & Young • ECLA, Entrepreneurship Program at Columbia University NYC • Angel investor
FELIPE HENRIQUEZ MEYER
PARTNER
Finance
• Co-founder and CFO, Groupon LatAm (except Brazil) • Co-founder, Café Orígenes • Engineer, Universidad Diego Portales. ECLA, Entrepreneurship
Program at Columbia University NYC • Angel investor
ALAN FARCAS
PARTNER Public and Institutional Affairs
• Managing Director, Universidad Adolfo Ibañez, Business School • Managing Director, Endeavor Chile • Engineer, Universidad de Chile. Masters in Innovation,
Universidad Carlos III. Executive Business Program, IESE /Wharton • Angel investor
www.nazcaventures.com