Seaya Ventures, Cathay Innovation launch $125M fund for LatAm startups

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venture capital firm Seiya Ventures And Cathay Innovation Created a joint fund aimed at startups across Latin America that are redefining their industries and societies.

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The two firms — Seiya based in Spain, and Cathay in France — formally came together in April and have since opened an office in Mexico City, where they will manage $125 million. Seiya Cathay Latum Fund Which will focus on Series A and B investments, with reserves for the follow-on round.

Beatriz Gonzalez, founder and managing partner of Seiya Ventures, said the relationship between Spain and Latin America remains strong – her firm started in 2013 and its second investment in Mexico was in San Delantal, which was Just Eat. acquired by a year later.

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“At the time, Spanish companies in industries such as banking and utilities were expanding into Latin America,” she said in an interview. “When we started in 2013, there were not many funds and today the market is competitive. You can’t just bring funding to the table, you must have funding, network, and support. This combination is powerful because the ecosystem needs it now.”

Locally, the fund is led by Federico Gómez Romero, who previously led the LatM activities for seed fintech fund Axion Venture Lab. It targets consumer and enterprise companies developing technology in areas such as fintech, proptech, mobility, healthtech, food, agriculture and cyber security. The fund also incorporates Cathay’s corporate ecosystem as investors and strategic partners.

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The team’s first investment was made in September when it went into Chilean fintech. Zeppelin’s $230 million round. As a stand-alone firm, the two have been active in the region making investments in Mexico’s Cuesque and Lana, Brazil’s Facili and Alt.Bank, and Colombia’s RobinFood and Chile’s Fractal.

The Sia Cathay Latum Fund will invest in 12 to 15 companies and write check sizes between $5 million and $10 million, said Jackie Abbitboll, managing partner at Cathay Innovation. Having already worked together on other investments, he said it made sense for his firm and Seiya to come together.

“We intend to be a global player, and we see opportunities to be part of the local ecosystem,” he said. “We share a lot of values ​​and a similar way of thinking, so we decided to partner up to support the big tickets and with the initial investment we built a platform to support the founders.”

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