Optimistic Ventures, a São Paulo–based mostly enterprise capital agency, secured $25 million in capital commitments for its affect fund. This represents a tripling of its earlier fund, raised three years in the past.
The agency, which additionally has an workplace in San Francisco, invests on the pre-seed and seed levels in Latin American founders constructing tech-driven options in local weather change, training, healthcare and monetary companies in underserved communities.
Andrea Kestenbaum, companion and CEO, informed TechCrunch that this new fund represents a tripling of its belongings below administration in lower than two years, which quantities to an aggregated market worth of $1 billion.
Fábio Kestenbaum, companion and chairman, stated in an interview that backing the brand new fund is a bunch of restricted companions, together with giant institutional buyers and household workplaces, in addition to Fabio Barbosa, CEO of Natura & Co.
From its flagship fund, Optimistic Ventures invested in such corporations as carbon credit score supplier Pachama and social commerce startup Favo, pioneering the social commerce revolution in Latin America.
By final October, the agency had raised $20 million of the second fund and co-led, alongside Collaborative Fund, within the pre-seed spherical of Ruuf, a Chilean market connecting householders, photo voltaic panel installers and lenders.
Extra lately, it invested in Apprenty, which offers transport high-quality apprenticeship applications that mix work, coaching and group in Brazil.
Total, with the brand new fund, Optimistic Ventures intends to put money into between 20 and 25 corporations on the pre-seed and seed ranges, Fábio Kestenbaum stated. Common test measurement for a pre-seed firm shall be round $250,000, and for seed rounds, $600,000. The agency can be exploring minority stake alternatives the place it’ll take between 5% and 10%.
“We need to workforce up as early as attainable to develop a pleasant acumen, business-wise and impact-wise, and be tremendous founder-centered,” he added. “We’re gonna double down on local weather investing, AI and all of the nature-based options popping up particularly since Latin America is the world’s hotspot for nature-based options and carbon, so we actually need to be first movers right here.”