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The financial services company Tribal has announced a new investment fund: Tribal Ventures. It will invest in early-stage startups with a specific focus on companies that seek to reduce the friction of being a startup or SME in emerging markets.
Tribal Ventures will not only provide investment to these startups that are looking for capital. It will also address some of the issues of early-stage startups, providing them with personalized advice, a great network of contacts and the resources needed to build a successful business.
The fund will invest directly from the company’s balance sheet and will seek to co-invest with its current investors; these include QED Investors, Softbank, Coinbase Ventures and BECO Capital, among others. Startups can now access the fund, which has a focus on fintech products, in the places where Tribal has a presence.
This Tribal initiative wants to give more entrepreneurs access to private capital. The data from CB Insights shows that lack of access to capital is one of the main reasons startups go out of business.
According to the X-ray of entrepreneurship in Mexico 2020, prepared by the Association of Entrepreneurs of Mexico (ASEM), 57% of those surveyed say that financing alternatives are needed. It explains that investment funds currently represent only 2% of financing sources within this industry.
One of the great bets of Tribal Ventures will be to grow this type of startup through a model based on Artificial Intelligence. This will predict their growth trajectory and thus determine the best way to help them.
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