Contxto – Rubik Ventures has officially reached Colombia and this venture capital (VC) firm has US$20 million to begin startup building in this Latin American country.

Moreover, it’s looking for entrepreneurs to join its program as well as investment partners to raise an additional US$30 million in equity.

Likewise, to help them in their new venture, Rubik plans to hire over 120 people, among which are 50 data scientists.

Startup-building Rubik

It’s important to note that Rubik operates as a company-building platform. Meaning, they work closely with entrepreneurs to develop a product idea and the startup comes hereafter.

In other words, they don’t invest in startups that are already established.

Clarifications aside, Rubik Ventures is searching for entrepreneurs that want to develop solutions in finance, logistics, and manufacturing under B2B and B2C models.

They’ll be working with these entrepreneurs as well as industry partners. Together, they’ll create products that correspond to problems within specific niches.

Rubik has been a part of Latin America’s startup ecosystem for three years now.

In that time it has already made its mark in Mexico and helped build 11 startups. Examples include payroll platform, Numina and Envíoclick, a startup that uses artificial intelligence )(AI) to help deliver packages.

And now it’s in Colombia on the lookout for new opportunities.

First Mexico, then Colombia

The Global Managing Director from Rubik Ventures, Camilo Quintero, stated that this Andean country was chosen for multiple reasons. Mainly its talent, collaborative environment, as well as the existence of multiple parties interested in investing in safe assets.

That makes for two company builders in Colombia, as Rubik joins Polymath Ventures.

There’s likely more news to come from Rubik Ventures because according to a recent press release, it’s expanding its fundraising strategies.

“2020 is a big year for us because we’re increasing our first investment round for US$25 million,” explained Raimund Burguera, Rubik Ventures’ CEO. “In addition, we’ll be creating our own investment vehicle. All of this is done with the purpose of making a positive impact on Mexico and Latin America.”

Money does have a way of making things happen. More so when applied in promising projects.

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