WASHINGTON, CMC – The Inter-American Improvement Financial institution (IDB) Group introduced on Wednesday that its innovation and enterprise capital arm, IDB Lab, is offering $2 million as a part of a strategic funding within the 500 LatAm Seed Fund IV, managed by 500 LatAm.
It stated that the fund will spend money on roughly 40 early-stage tech startups in Latin America and the Caribbean.
“This operation marks a brand new spherical of funding by IDB Lab in a 500 LatAm fund, following its participation in 2020 within the 500 Luchadores III fund, which supported over 100 startups which have already generated greater than 10,000 direct and oblique jobs and reached greater than 2.6 million customers within the area.”
The IDB stated that the five hundred LatAm Seed Fund IV will present pre-seed and seed capital to over 40 startups growing extremely scalable expertise options within the area. It’s going to additionally present strategic help in areas akin to product growth, expertise recruitment, monetization, buyer acquisition, worldwide enlargement, and elevating extra capital.
“This funding in 500 LatAm Seed IV displays our dedication to strengthening regional integration and driving innovation in rising ecosystems. The fund’s technique democratizes entry to seed capital and provides entrepreneurs extra alternatives to develop and scale their options,” stated Magdalena Coronel, appearing chief of IDB Lab’s Enterprise Capital Investments Division.
The IDB said that at the moment, 500 LatAm IV is accepting purposes from startups, including that chosen corporations will obtain a US$300,000 funding and entry to a personalised mentoring program.
“This funding reaffirms IDB Lab’s dedication to increasing entry to early-stage funding in Latin America and the Caribbean and to supporting brokers of innovation in rising ecosystems, contributing to regional progress and integration,” it added.
