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Investments

4

Portfolio Exits

1

Funds

1

About Polymath Ventures

Polymath uses a company builder model to systematically build regionally scalable ventures in real industries. Polymath has built 7 ventures employing 250+ people across various sectors like transportation, financial services, education, restaurants and real estate.

Polymath Ventures Headquarter Location

Calle 71 #13-66

Bogota, 110221,

Colombia

+573102701662

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Latest Polymath Ventures News

Elenas raises US$2 million to empower door-to-door saleswomen in Colombia

Oct 20, 2020

Contxto – Startup Elenas just raised a seed round worth US$2 million to bring empowerment, ownership, and a better quality of life to women in Colombia. The investors in this round were Alpha4 Ventures, Amador Holdings, Polymath Ventures, and Meesho. They’ll use the investment to continue expanding through their native Colombia and the upcoming years through Mexico, Peru, and Brazil. From door-to-door to e-commerce In short, Elenas is an e-commerce targeted at door-to-door saleswomen. The startup’s CEO, Zach Oschin, explained how 11 million women sell products or items via direct sales. He also explained how for many women, it is the only way to earn some extra income. The industry in Latin America is valued at over US$26 billion. “There is a 30 percent wage gap between men and women, and a lot of women stay home with the children.” Zach Oschin, CEO of Elenas. To solve this issue, the startup developed a solution where women are turned into “ambassadors” enabled to continue selling through social media sites, such as Facebook, Instagram, or Whatsapp with a mirrored scheme from catalog sales. The ambassadors can distribute and connect the buyers with the existing products in the e-commerce platform and earn a commission per sale. Therefore, the opportunities for the ambassadors are not limited to a range of products from one brand. From entrepreneurs to ambassadors While Elenas is just raising its seed round, the company already has a staff of approximately 200 manufacturers. Moreover, it already has around 10,000 ambassadors who have access to over 11,000 products across ten categories. While this is just on the ambassadors’ end, the startup claims to have more than 20,000 entrepreneurs selling their products through their platform. “Our entrepreneurs can sell digitally for the first time and to a wider audience, often earning three times more than through catalog sales,” said Oschin. And that is without taking into account the current boost e-commerce is getting thanks to the COVID-19 pandemic. On that note, we just interviewed the CEO and Founder of Tiendanube, Santiago Sosa, on our beautiful podcast En Contxto . He was pretty clear about where the e-commerce industry stands today; the massive difference in the market’s maturity from 10 years ago; and where we’ll possibly be in the future. If you are into e-commerce, you should’ve already listened to it. If not, let me make it easier for you:

Polymath Ventures Investments

4 Investments

Polymath Ventures has made 4 investments. Their latest investment was in Elenas as part of their Seed VC on October 10, 2020.

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Polymath Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/16/2020

Seed VC

Elenas

$2M

Yes

2

12/18/2018

Series A

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$99M

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10

6/21/2018

Seed

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$99M

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10

Other Investors

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10

Date

10/16/2020

12/18/2018

6/21/2018

Round

Seed VC

Series A

Seed

Other Investors

Company

Elenas

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Amount

$2M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

10

Polymath Ventures Portfolio Exits

1 Portfolio Exit

Polymath Ventures has 1 portfolio exit. Their latest portfolio exit was ASTRALABS on December 10, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/10/2019

Acquired

$99M

1

Date

12/10/2019

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

Polymath Ventures Fund History

1 Fund History

Polymath Ventures has 1 fund, including The Horizon Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

The Horizon Fund

2

Closing Date

Fund

The Horizon Fund

Fund Type

Status

Amount

Sources

2

Polymath Ventures Team

4 Team Members

Polymath Ventures has 4 team members, including current Founder, Chief Executive Officer, Wenyi Cai.

Name

Work History

Title

Status

Wenyi Cai

Milo, McKinsey & Company, Dean Ventures, Bridgewater Associates, and Argonne National Laboratory

Founder, Chief Executive Officer

Current

Thomas Harsch

Atlantic Labs, xBird IO, MCB Labs, Roland Berger, and NTT Data

Founder

Current

Ali Hashemi

Managing Director

Current

Juan Pablo Morales Olaya

Chief Technology Officer

Former

Name

Wenyi Cai

Thomas Harsch

Ali Hashemi

Juan Pablo Morales Olaya

Work History

Milo, McKinsey & Company, Dean Ventures, Bridgewater Associates, and Argonne National Laboratory

Atlantic Labs, xBird IO, MCB Labs, Roland Berger, and NTT Data

Title

Founder, Chief Executive Officer

Founder

Managing Director

Chief Technology Officer

Status

Current

Current

Current

Former

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