Fostering innovation and entrepreneurship since its financing is one of the main objectives of the new Chilean Venture Capital Association, which will become a spokesperson for government entities, investors and other industry players.
On May 2, the Constituent Assembly of the Association was held, in which Genesis Capital, Manutara Ventures, NXTP Labs, Alaya Capital, Nazca Ventures and Raicap acted as constituent entities, with the strategic support of the law firm Carey.
On the other hand, the Board was formed by Rodrigo Castro (Genesis Capital) as President, Pablo Traub (Manutara Capital) as Vice President, Max Grekin (Nazca Ventures) as Treasurer; And Joel Vainstein (Raicap), David Alvo (NXTP Labs) and Francisco Guzmán (Carey) as Directors.
The Association is already coordinating meetings with different players from the public and private worlds to put the importance of Venture Capital on the public agenda as an effective mechanism for financing entrepreneurship and innovation.
The idea is to make efforts collectively from the different fund managers of the industry, so that the conditions are given to contribute to the development of an enabling environment that stimulates the investment and that includes the necessary incentives to promote the risk taking from entrepreneurs and investors.
The association will also hold and sponsor training activities on good practices for both investors and entrepreneurs, as well as maintaining relationships and exchanging information and experiences with other associations, organizations or trade associations related to the Venture Capital industry, both in Chile and abroad.
It is estimated that the Venture Capital industry, which is undergoing a phase of sustained development in Chile, moves US $ 415 million a year. Participating administrators of the new trade association manage funds close to US $ 140 million, amounts that are expected to increase exponentially in the short term.