CORFO officially launched the new country brand website, which aims to consolidate the local venture capital industry.
At a ceremony led by CORFO Executive Vice President José Miguel Benavente and InvestChile Director Karla Flores, CORFO officially launched Venture Capital Chile, the new country brand created to consolidate the local venture capital industry.
Chile has been among Latin America’s venture capital leaders for years. The trend, which is already quite developed in large markets, is still incipient in the region, although less so than might be thought.
At the unveiling of its official website, Venture Capital Chile was described as the gateway for foreign investors and fund administrators seeking to participate in early-stage funding for local startups by investing in funds established and operating with state support in Chile.
To create the Venture Capital Chile brand, CORFO led public-private coordination with industry players, including the Chilean Venture Capital Association (Asociación Chilena de Venture Capital, ACVC) and the Chilean Association of Investment Fund Administrators (Asociación Chilena de Administradoras de Fondos de Inversión, ACAFI) and other key entities like InvestChile.
«This brand aims to consolidate the public policy on venture capital promotion in Chile, the same policy that gave rise to CORFO in the late 1990s. The arrival of international funds and funds with other strategic focuses will create new funding opportunities for developing and expanding Chilean startups, even beyond our borders,» said CORFO Executive Vice President José Miguel Benavente.
InvestChile Director Karla Flores remarked on Chile’s capacity to incubate ideas and startups that will meet global challenges, noting that it can be done with State support and foreign investment as a key tool for growth and international expansion.
«As an agency, we focus on showcasing the strength of our entrepreneurial ecosystem to international investors by offering a consolidated industry portfolio and a comprehensive range of state support programs that promote local ecosystem development,» Flores said.