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


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.

The benefits that come from investing alongside other investors who are on the ground locally.

One of the most exciting things about the way Angel Ventures operates in Peru is that it works directly with investors who live in the country as well as those outside. This enables investors from the outside of the country to have a greater sense of confidence regarding the direction startups are taking because investors who are on the ground are involved to see that the company is responding to local conditions and markets.

This was a fascinating conversation and Greg has a good deal of experience across Latin America from which he shares, so do what you can to listen to this episode.

The leader of the startup is just as important as the product or business model.

It’s not uncommon to hear that venture capital firms are looking for more than just great product ideas or innovative business models, they’re also looking seriously at the founders and teams who will be running the companies they support. Greg Mitchell says that his company, Angel Ventures is no different. Latin American companies need great leadership just like any others and it’s encouraging to see that the venture capital ecosystem is taking the issue seriously.

The only way Peruvian startups can succeed is by working together. So they do.

There many unique things about starting a company in Latin America. One of those is that the lack of resources requires teamwork and innovation, even between companies. In this conversation, Greg Mitchell describes how startups in Latin America often work together and how venture capital firms and the people who work for them tend to have a broader perspective than only the projects they are working on at the time.

Greg shares some very useful Insight on this episode, so I encourage you to listen if you are at all interested in investing in Latin American startups.

His job in the startup community in Peru is much bigger than one role in one company.

As Greg Mitchell speaks about the startup ecosystem in Peru you can definitely hear that his enthusiasm is not limited to the projects that his company, Angel Ventures, is involved with. He says he is happy and even excited to make the connections between startups and investors or VC firms that Angel Ventures is not able to work with. He sees it as his responsibility to the broader Community across Latin America.

Outline of This Episode

  • [1:02] How Greg wound up in Latin America and what he’s doing now in Peru.
  • [3:18] The history of Angel Ventures and how the process works in Latin America.
  • [8:15] What it’s like to work locally to find investors and entrepreneurs to work with in Peru.
  • [15:03] The types of companies Greg is looking to invest in.
  • [19:05] Success stories from Greg’s work with startups in Peru.
  • [23:39] Why Greg loves living in Lima and Peru overall.
  • [26:53] The state of the Peruvian tech ecosystem.
  • [29:00] Where Greg sees the startup community in Peru heading in the next few years and why startups should consider working in Lima.
  • [31:55] Surprising things about the startup ecosystem in Peru.
  • [35:15] Who should contact Greg to see if working with Angel Ventures is a good fit.
  • [40:54] What’s next for Angel Ventures Peru?

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