At a time of economic uncertainty, there are venture capital (VC) funds that continue as usual: such is the case of 500 Global LatAm, which has just announced its 16th batch, the second this year, comprising ten startups that will receive US$60 000 in investment each. As well as a fund, 500 Global (previously 500 Startups) is an accelerator, and the startups participate in a 16-week program called “Somos Lucha.” In Latin America, the firm holds two such calls per year.
Of the companies selected this time, five are from Mexico, three from Colombia, one from Argentina, and one from Uruguay.
The ten companies that are part of the 500 Global LatAm batch 16 are:
Avioneta (Mexico): a monthly subscription for people who overindulge or depend on alcohol to help them improve their approach to drinking.
Bluerabbit (Argentina): an app that creates digital micro social networks to foster communities in physical places.
ConﬁAbogado (Mexico): online legal firm that provides legal solutions to low-income people.
Gloset (Mexico): second-hand marketplace for formal clothing.
Habitué (Uruguay): SaaS platform that allows restaurants to regain control of their sales through the digitalization of their business, without commissions.
Lineup (Colombia): a platform that helps growth teams sell better by qualifying, routing, and scheduling appointments with potential clients.
Osyva (Colombia): B2B marketplace that helps veterinary businesses make purchases online.
Qentaz (Colombia): financial management for micro-businesses through WhatsApp.
Sapiens Medicus (Mexico): online medical education with personalized content and virtual reality simulation.
Scouter (Mexico): a marketplace that allows renting any space or location for ﬁlming and events.
Half of these startups have female founders. “One of the greatest values at 500 Global is diversity, not only of gender but in all senses. However, one of the most present in Latin America is gender, so we have included it within our selection process,” René Lomelí, partner and COO of 500 Global LatAm, told Contxto.
500 Global will work with these new startups to strengthen three areas: growth foundations, better leaders for the organization, and equity raising. René Lomelí adds that 500 Global can make small follow-up investments as these companies develop. The next call will open in October 2022.