According to the Bank’s website, the project consists of an equity investment of $10 million in the Valor Opportunity Fund II LP, which aims to provide early growth equity for technology-enabled companies in Latin America and the Caribbean with Brazil being its main geographical target. VOFII will be managed by Valor Capital Group. Established in 2011, Valor is one of the most active venture capital investment firms in LAC with an exceptional track record. Valor is currently fundraising $500 million for two funds (including VOFII) and has successfully raised and invested five other funds with total AUM worth US$2.2 billion.
With a target size of US$250 million, VOFII will invest in approximately 10-15 "early growth" venture-backed companies (Series B+) across LAC in sectors such as financial services, education, mobility, logistics, consumer & retail and health.
The Fund will invest in breakout companies, which are expanding and require larger amounts of capital than the amount available from Valor's early-stage funds, allocating at least 50% of the Fund to such investments. VOFII may also invest in businesses that are not in the portfolios of Valor funds.
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