Mountain Partners to Create Chile's First Climate VC Fund

• Mountain Partners AG's Chilean division is setting up the country's very first venture capital fund that will only buy firms that add to combating climate change.

" We are extremely focused on business that directly or indirectly aid to decrease your carbon footprint," Santiago Caniggia, handling supervisor at Mountain Partners Chile, claimed in a meeting. "As an example, it may be a wheelchair startup or an additional one that provides solutions to vital sectors such as environment-friendly hydrogen."

Mountain Partners plans to raise $50 million for this fund and also has already secured the majority of the financing, Caniggia claimed. Its first acquisitions must be announced in February or March. The firm plans to buy stakes in 15 to 20 start-ups, taking part in pre-series A or collection A financing rounds with a typical investment varying from $1.5 million to $3 million.

Latin America has actually seen a flood of venture capital money pouring into technology-related start-ups this year as capitalists are drawn by the possibility for rapid development. A document $14.1 billion in private funding has actually been designated this year through Nov. 12, more than tripling the amount in all of 2020, according to PitchBook.

The brand-new fund will certainly be Mountain Partners Chile's 3rd fund. Caniggia initially founded Nazca Ventures with 2 various other parters in Chile in 2012, which was after that obtained in 2016 by Swiss-based Mountain Partners.

Chile's has actually led investment in renewable resource resources in the area. "Though coal stays the most crucial modern technology on Chile's grid, development in its power capability today is primarily in solar and also wind. Both technologies are booming," said James Ellis, an expert at BloombergNEF.

Solar is currently the country's 3rd largest innovation by capability, reaching 17% of the overall this year as well as BloombergNEF projects that Chile will certainly add a total amount of 5.7 GW of solar and also 3.7 GW of wind projects to its grid by 2024, more than doubling the capability of each.

Mountain Partners is a financier in Poliglota, which offers a language learning platform, and also could be the country's next unicorn, according to Caniggia. It presently has an evaluation of about $50 million, even prior to finishing a series A financing round, he said.

It likewise has stakes in fintech Destacame, online baby item retail platform Baby Tuto and on the internet realty financial investment website Capitalizarme.