The Investment and Startup Community in Peru

Many travelers visit Peru to experience Machu Picchu, and though incredible, there is much more to this country than its wonder of the world. Known for its gastronomic sector, Peru has some of the most diverse (and delicious) food in the world. Through its long history of eating seafood, mixed with Spanish, Japanese and Chinese immigration, it’s always a pleasure to go to Peru, even if it’s only to eat, and entrepreneurial Peruvians have taken advantage.

Peru has diverse terrain, from the steeply sloping Andes and dense jungles to the cerulean coastline. About one-third of Peruvian residents live near or close to the ocean. The population is just shy of 32 million, surpassing Chile but falling below Colombia. Monthly wages are on the upswing at 1680.67 Peruvian Sol (roughly US$519), with a minimum wage of 850 Peruvian Sol.

The capital city, Lima, is experiencing rapid growth and the government is allocating investment towards more infrastructure and improving public transportation. Foreign investors are paying close attention to the new Cuzco airport which offers easier access to Machu Picchu, though has caught some local scrutiny. Peru offers multiple visas for foreigners interested in the business sector, but these visas can come with an unwanted amount of red tape. Continue reading…

Ep 22 Greg Mitchell, Funding Startup Business in Peru and Regionally in Latin America

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Most US investors don’t immediately think of putting their money to work in a place like Peru. But business in Peru is growing exponentially and the startup ecosystem is one of the places some of the greatest gains are being made. Greg Mitchell works with Angel Ventures, a VC company that focuses on Peru and the rest of Latin America.

In this conversation, Greg and I chat about what’s going on in Peru, specifically in the world of the Peruvian tech ecosystem, what opportunities exist for both local investors and investors from outside the country, and the exciting things happening in the business community within Peru.

Continue reading…