Peru Venture Capital Overview

This post is the second in a series about Latin American startup ecosystems. Greg Mitchell, Managing Director at Angel Ventures Peru, provided much of the research for this post. Thanks Greg! Read the post on the Chilean Venture Capital, Highlighting Latin American Startups.

VCs

Angel Ventures, a Mexico-based VC, has a local presence in Peru through its Angel Ventures Peru branch office. Angel Ventures Peru has sourced deals from Latin America for the regional fund, but the fund has yet to make an investment in a Peru-based company.

Accelerators

The Peruvian government, through the Ministry of Production has a program to support local incubators and accelerators.

Endeavor – Endeavor is a global organization that promotes high impact entrepreneurs. It arrived in Peru three years ago and has been a leader developing the ecosystem.

Wayra – Wayra Peru is part of the investment arm of Telefonica. They invest in startups generally with $50k + $25k of services for 5-10% equity on convertible notes. They prefer technology companies that can be Telefonica clients or have products that can integrate into its other solutions.

UTEC Ventures – Accelerator that is one of a few in Latin America. Part of GAN. It is tied to UTEC, a local engineering university. Typically takes 5-10% equity stake in exchange for $15k seed capital and additional services. It has quickly become an important player in the local ecosystem with a few of its recent batch receiving funding.

EmprendeUP – Accelerator program part of University of Pacifico, the top local business school.

Fledge – Fledge is an international accelerator program that has opened in Peru. The first batch of entrepreneurs are starting in October

Equity Free Government Grants

Startup Peru – Startup Peru is a Ministry of Production program based off the Startup Chile model. It is on is fourth generation has financed more than 150 Startups with its seed program: S/. 50k (US$15k) equity free grants. Deenty, a Magma portfolio company, was part of Startup Peru’s last batch.

Angel Networks

The Peruvian government, via PRODUCE, provides local angel networks with funding for operating expenses and educational programs. A growing number of angel investor network are working to promote early stage investing in Peru.

Angel Ventures Peru – Angel network with over 50 members, and a few investments in local startups.

Capital Zero – Network tied to UTEC, the local engineering university.

UP 4 Angels – Graduates of University of Pacífico that invest in companies started by other alumni

BBCS – Group of successful businessmen leading companies in traditional sectors that make investments across sectors

PAD – New angel network comprised of University of Piura alumni

Family Offices

Peruvian family offices have made some startup investments so far, but don’t seem to have dedicated portfolio strategy to invest in the space.

Image Credit: Jeffery Bary