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This USD$466 million will be distributed between Brazil and Mexico, with USD$237 million coming from Banco Citibank SA and USD$229 million from Citibanamex in local currency.
Galactic Holdings stands out in the cryptocurrency industry for offering a variety of products that seamlessly connect the traditional financial arena with digital currencies.
The largest volume of investments went to projects creating infrastructure solutions in the blockchain industry, which received USD$153.8 million.
This private equity fund starts its activity with an initial investment of USD$2.5 million, with the purpose of backing 30 companies within the fintech and blockchain sectors.
This fund has allocated resources of up to USD$100,000 to support emerging companies seeking to grow during the period covering the remainder of 2023 and part of 2024.
The lead investor in this round was Kayyak Ventures, one of the most active venture capital funds in Latin America, backed by GoHub Ventures, an existing investor that continues to support the company.
Accion Venture Lab, SP Ventures, Glocal and Amplifica Capital also participated in the round. The startup also raised an additional USD$3.5 million in debt financing from Co_Capital, Addem Capital.
The startup received funding from Corfo and angel investors, and then sought to raise USD$2 million in a pre-series A, in which VX Ventures, an entity related to the Argentine oil company Vista, contributed USD$1 million.
Although the new valuation has not been disclosed, it is estimated that QI Tech has probably become a ‘unicorn’, meaning that it has already passed the USD$1 billion or more threshold.
The startup, which is still in a proof-of-concept phase with large enterprises, does not plan to officially launch its blockchain transaction tracking platform until next month.