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Acumen LatAm Impact Ventures—ALIVE, previously Acumen LatAm Capital Partners or ALCP—announced it closed US$28 million for its Acumen Latin America Early Growth Fund (ALEG).
Why it’s a big deal: The fund focuses on companies that solve some of the biggest challenges faced by Latam’s impoverished population.
So its consolidation emphasizes the increasing importance investors have for business models that are not only profitable but also generate a positive impact.
Some of ALIVE’s most renowed limited partners include the IDB Lab, the MacArthur Foundation, Bancóldex, Fundación Bancolombia, Fundación Sura and Fundación WWB Colombia (Women’s World Banking), among others.
“Today, more than ever, Latin America needs companies that create opportunities for the most vulnerable segments of society and take care of all stakeholders–suppliers, customers, employees, the environment and, also, shareholders,” said Virgilio Barco, Co-Founder and Managing Partner at ALIVE.
Is it easy to snag win-win scenarios for everyone? Of course not.
People can have big hearts, but entrepreneurship has never been for the faint of heart.
ALIVE and socially responsible
Correspondingly, fund managers will be interested in companies operating in agribusiness, clean energy as well as education and access to formal employment.
ALIVE Ventures hopes to make this fund a cornerstone in its efforts to transform the venture capital (VC) scene in the region.
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Doing more than investing
Besides seeking companies that comply with the aforementioned traits, the VC’s team will also encourage the use of gender lens when investing and build a community of investors that share its vision.
It also wants to understand how its companies are impacting the lives of their users and customers.
In the United States and Europe, investors are already embracing socially responsible business models. Unsurprisingly, this outlook is also spreading into Latam.
Soon, it won’t suffice for founders to say, “we’re democratizing access to such and such topic.” Investors will expect them to prove in what way they’re changing our world for the better.
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