Venture capital group Kaszek raises $1 billion in two funds for Latin America

FILE PHOTO: An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank’s headquarters in Seoul April 28, 2010. REUTERS/Jo Yong-Hak/File Photo

SAO PAULO (Reuters) – Venture capital firm Kaszek raised $1 billion in two funds aimed at investing in Latin American companies, it said in a statement on Monday.

The firm said its Kaszek Ventures V fund will invest $475 million in early-stage companies, while the rest would be deployed in later-stage portfolio companies through its Opportunity II fund.

“The region hosts a robust and growing technology industry with more great startups emerging now than what we have ever seen before,” said Hernan Kazah, a co-founder of Kaszek, in the statement.

Among Kaszek’s portfolio companies are Brazilian financial technology startups Nubank and Creditas and digital real estate broker QuintoAndar.

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