“As entrepreneurs, as operators, what we saw is that there were very good opportunities and that technology was changing the world, that there were exceptional people in the region but a shortage of capital in general, but especially value-added capital as you see in Silicon Valley, capital that not only writes a check but also becomes a constructive partner for the company, “he adds.
Nicolás had already experienced funding for entrepreneurship as an investor angel, but it was until 2011 that together with Hernán they decided to scale the bet in the region by founding Kaszek Ventures and raising their first fund, which reached 95 million dollars thanks to the knowledge and contacts that both had cultivated during a decade working in Mercado Libre.
Over time, both have become a benchmark for entrepreneurship in Latin America as speakers, analysts and coaches for the global entrepreneurship network Endeavor.
The last fund of Kaszek Ventures, raised in August of last year, reached the figure of 600 million dollars, which accounts for the progression that the venture capital market has seen since Nicolás and Hernán began.
As Nicolás explains, Kaszek Ventures has earned a privileged place by keeping its ears close to the ground to find the startups with the best profile in which to invest.
According to him, there are three characteristics that make a venture a good promise: the size of the market that is being attacked, an innovative business model, but much more important, a talented team with good skills to communicate the project and maintain it with lifetime.
“By far, this last characteristic is the most important for us. In this business it is very important to have that leadership and that communicational capacity because you have to build teams, you have to enthuse the talent to join a company that is a promise, but that actually has little.
“This is going to be a long road, with very good days and very bad days. You have to have the mental strength to be able to think in the long term, (…) it is a long career, very hard and that never ends” comments.
Recently David Velez, CEO and co-founder of Nubank, the largest neobank in the world, referred to Nicolás and Hernán: “As entrepreneurs, they have already navigated countless challenges we are going through as we scale; they are the only capital fund of risk in Latin America with that kind of experience. “