Bimbo joins as an investor in a fund already featuring Coca-Cola and Arcor | Photo: Grupo Bimbo
The renowned Grupo Bimbo, globally known as the leading bakery, has joined Kamay Ventures, the first corporate venture capital fund in Latin America. This inclusion places Bimbo alongside giants such as Coca-Cola and Arcor, both already part of this conglomerate, aiming to boost innovative solutions in regional startups. These solutions are aimed at strengthening socioeconomic and environmental development across various stages of the production chain in Latin America.
Gabriela Ruggeri, Managing Partner of Kamay Ventures, expressed her enthusiasm for Grupo Bimbo’s inclusion, emphasizing that their participation will bolster the fund’s core objectives: to professionalize early-stage investment and accelerate innovation within large corporations.
Ruggeri, recognized by the Global Corporate Venturing Powerlist 2023 and by Bloomberg Línea as one of Latin America’s most influential figures, highlighted that Kamay Ventures is open to collaborating with other companies aligned with the fund’s vision.
The shared vision is clear: empower and sustain entrepreneurs, offering them opportunities to face large-scale challenges and develop solutions in digital commerce, fintech, IOT, Ag-Tech, nutritional biotechnology, and the environment, with a particular emphasis on recycling.
Constantino Matouk Iriondo, VP Global of Bimbo Ventures, voiced his satisfaction with the partnership, underlining the importance of supporting entrepreneurial talent in Latin America, especially when backed by other major food industry companies.
What is Kamay Ventures?
It is an investment fund managed by Overboost, specialists in digital projects with over eight years of experience. Additionally, Kamay Ventures is supported by heavyweight technological partners such as IBM, AWS, and Oracle, which provide essential tools for startups’ growth. Since its inception, Kamay Ventures has assessed over 600 projects throughout Latin America.
Currently, their portfolio consists of 12 notable startups from various countries in the region.
This year, Kamay Ventures launched the “Kamay Code” event. It began in Buenos Aires, where over 100 startups participated in a pitching contest. Later in August, it took place in São Paulo, Brazil, with more than 500 attendees and 20 prominent speakers. The next gathering is expected in Mexico City in March 2024.
Kamay Ventures aims to invest in up to 30 projects, with an average investment of USD $300,000 per project, showcasing its commitment and confidence in Latin America’s innovative potential.
In the recent Global Innovation Index 2023, Brazil has emerged as the most innovative country in Latin America, followed by Chile and Mexico, positioning the region as one of the world’s foremost in cutting-edge innovation. It’s no surprise, then, that Kamay Ventures is seeking strategic allies in LatAm, like Grupo Bimbo.
