The Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) has approved an equity investment of US$5 million in an impact investing fund for Latin American tech-driven social enterprises. The MIF is the first anchor investor in the NXTP Labs Fund providing seed capital for approximately 32 companies in technology verticals such as FinTech, AgTech, EdTech, CleanTech, Marketplace, SaaS for SMEs, Collaborative Economy and Disruptive Technologies, among others.

The Fund’s target capitalization is US$120 million, with a set allocation ranging between US$30 and US$50 million to provide financing to companies in Argentina, Paraguay and Uruguay, depending on the Fund’s final capitalization. Through this Fund, NXTP Labs will take to the next level the effort it started with NXTP Fund I, a US$38.5 million fund that has invested in technology companies in Latin America for the past five years, in which the MIF has also invested.

NXTP’s Impact Investing Fund is an effective response to the emergence of socially conscious and dynamic entrepreneurs increasingly focused on solving big pressing societal problems by leveraging the power of technology.

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

About NXTP Labs

NXTP Labs is an early-stage venture capital firm, focused on technology companies from Latin America. With more than 180 investments, and offices in six countries across the region, NXTP Labs is one of the most active early-stage investor in Latin America. NXTP Labs believes in the transformative power of technology and capital to generate positive impact at scale. The company supports companies with innovative technological solutions that democratize access to products and services previously unavailable to large parts of the population in Latin America.