Capria

Mar 23, 2023

30N Ventures launches $50M fund to invest in top-tier founders in emerging markets’ fastest-growing economies March 23, 2023 Chile-based venture capital (VC) firm 30N Ventures has announced the launch of its new $50 million venture capital fund, focused on investing in top-tier founders in the fastest-growing economies of emerging markets (EMs) in late seed and Series A. With a primary focus on fintech, foodtech, and retail (e-commerce, marketplaces, and logistics) sectors, the fund aims to propel innovation and create a lasting impact in these industries, 30N Ventures said in a statement. The fund brings together an experimented group of partners with extensive knowledge and proven success in the VC ecosystem. These partners including Tomas Denecken, a seasoned entrepreneur and investor with over ten years of experience in the EMs ecosystem. He is a former investor at Capria Ventures, a global VC fund backed by Bill Gates and Paul Allen, among others. Other partners including Salvador Said, three-time entrepreneur, angel investor, and former investment banker, leading over $1 billion in several merger and acquisition transactions. The partners also include Juan Luis Palma, entrepreneur and former Investment Director and Regional Director LatAm at Capria Ventures. At Capria Ventures, he led the sourcing process of investment opportunities, analyzed over 500 VC funds and companies, and successfully invested in EM. Dan Kranzler, Philanthropist, Senior Advisor at the Wadhwani Foundation, and Former Senior Partner at Capria Ventures is also one of the partners. Dan has over 45 years of experience managing and financing high-tech companies (an early executive at ATT Wireless and investor at Starbucks, DocuSign, among others). In parallel, he spent ten years building VentureBasecamp, a program created to train and support entrepreneurs in EM, supported by The Gates Foundation. According to the statement, the partners boast a combined experience of over 60 years in VC and private equity (PE) investments, and have analyzed more than 1,000 VC investment opportunities. Together, they have made over 200 investments and have had over $6 billion of assets under management. “As entrepreneurs ourselves, we understand the unique challenges and opportunities that founders face in emerging markets, “Our hands-on experience, combined with our extensive network, connections, and Dan’s 45 years of experience in Silicon Valley, allows us to provide unparalleled support and mentorship to the startups we invest in,” said Tomas Denecken. Salvador Said added :”Our entrepreneurial background gives us the empathy and perspective to help founders navigate the complex startup landscape.” “We are committed to fostering a culture of innovation and collaboration, leveraging our experience and resources to help startups reach their full potential,” he added. The launch of 30N Ventures comes at a time when emerging markets are experiencing rapid growth and increased investor interest, fueled by a rising middle class, increased digital connectivity, and a growing appetite for innovative products and services. The fund’s focus on fintech, foodtech, and retail is a strategic decision to tap into sectors that are poised for exponential growth and have a significant impact on the lives of millions of consumers in these markets. 30N Ventures’ mission is to empower the next generation of entrepreneurs and innovators in emerging markets, driving economic growth and societal impact. By providing capital, resources, and mentorship to promising startups, the fund is committed to fostering a vibrant innovation and entrepreneurship ecosystem.