fbpx

Draper Cygnus launches a $50M fund for tech entrepreneurs in LatAm

Backed by Tim Draper and other investors, the fund is aimed at LatAm founders anywhere that are working in industries like biotech and crypto.

Draper Cygnus, a Latin American VC firm focused on tech startups, announced a new $50 million fund to invest in projects that solve global problems across different industries.

The firm already invests in Series A rounds with tickets ranging from $500K to $2 million. Its favors investments in biotech, nanotech, space industry, IoT, and crypto.

Diego González Bravo, Draper Cygnus’s founder and managing partner, stated on a press release that “there are many Latin American startups that are working on world-class science and tech solutions that need capital to keep moving forward”.

This new fund, called Draper Cygnus Latam Fund, is the fourth the firm has launched in 9 years. Tim Draper, who was one of the first investors in companies like Tesla, SpaceX, Coinbase and Robinhood and is now backing the Draper Cygnus fund, has said that “this is the moment for LatAm startups”.

In the coming months, the fund will begin to raise capital for its next investment vehicle: an Opportunity Fund to invest Series B rounds in companies that are already scaling their businesses.

Draper Cygnus has previously invested in LatAm unicorns, including Argentinian space startup Satellogic. The company builds and operates private satellites, and is now preparing to debut at the NYSE as a SPAC. Satellogic is currently valued at $1,2 billion.

Buenos Aires-based NuvemShop is another company backed by Draper Cygnus. It supports individuals and companies’ e-commerce operations with a digital storefront and logistics service. NuvemShop recently raised $500 million and is valued at $3,1 million.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

People Are Reading!

Uber Eats Exits Brazil; Cornershop Takes Center Stage

0
Uber, which launched its Uber Eats home delivery platform in August 2014, recently announced that they will discontinue this service in Brazil.