Peruvian Startups attract investor attention

Peruvian Startups attract investor attention.

With 12 transactions reported, Peruvian startups reached $ 6.6M of investment in the Q1 of 2019. With this, the investment increased by 295% compared to the same period last year, according to the report prepared by the Peruvian Seed Capital and Entrepreneur Association (PECAP).

“We see that the growth of investments in entrepreneurial capital has had a significant boost in the first quarter of this year. These numbers reflect that Peruvian startups are accessing investment rounds abroad to finance their international growth. In PECAP, we consider that there is an opportunity to consolidate efforts of the public and private sector to give a more comprehensive entrepreneurial capital offer for startups seeking investment rounds of over US $ 1 million, “said Alaín Elías, President of PECAP.

The report includes information on entrepreneurial capital since 2011. Thanks to this, it is possible to verify the impact generated by initiatives such as Emprende UP, which has provided scholarships to 61 entrepreneurial initiatives and has facilitated 15 investor transactions through its angel investment network.

Other institutions that have contributed to the Peruvian investment environment are Wayra (50), UTEC Ventures (32), Angel Ventures (16), PAD – Angel Investors Network (14), LIQUID Venture Studio (11), The Board (9) , BBCS Capital (4), INCA Ventures (3), Winnipeg Capital (3), among others.

In that quarter, startups Crehana and Keynua closed significant investment rounds.

Crehana, an EdTech platform focused on design, closed a Series A round for $ 4.5M with the participation of Acumen Latam Capital Partners, Mountain Nazca, and Dila Capital to consolidate its operations abroad.

Keynua is an electronic signature startup founded by the team that led Cinepapaya (acquired by Fandango in 2016), went through the prestigious Y Combinator acceleration program, and achieved investment from Nilo Ventures and other investors (not disclosed).

Peruvian startups have also raised big rounds of investment abroad this year. AmigoCloud is one of the most prominent cases.

“AmigoCloud started as a foreign company and, along the way, we have leveraged our growth with Peruvian talent. Today we have 11 employees working from Peru. In the coming months, we will share exciting news for AmigoCloud, and we hope that it will generate a positive and multiplier effect in the ecosystem, “said AmigoCloud CEO Ragi Burhum.