NXTP Labs’ new fund gets support from the Argentine government
The early-stage technology investment fund NXTP Labs was chosen by the Argentine government to receive an investment from the Fondo Fiducidiario para el Desarrollo de Capital Emprendedor (Fondce). The announcement was made within the framework of the Argentine Investment Forum organized by the Argentine Ministry of Production, the Secretariat of Entrepreneurs and SMEs (SEPyME) and the Argentine Association of Private Equity, Entrepreneurship and Seed Capital (ARCAP).
Within the framework of the event, NXTP Labs was one of the winners selected to invest with the State for up to 12 million dollars in a pre-selection process. The final selection of the winners will be subject to formal review by the Authority of Application (Secretariat of Entrepreneurs and SMEs).
The prestigious international jury that pre-selected NXTP Labs was convened by the Argentine government and formed by Alex Mendez (Storm Ventures, United States), Adriana Tortajada (Fondo de Fondos, Mexico), Mariana Barcena (DEG, Germany), Juan Savino (Altment Capital Partners, London), Hernán Kazah (Kaszek Ventures, Argentina) and Eric Acher (Monashees Capital, Brazil, USA). Eleven funds from three countries – Argentina, Brazil and Mexico – applied for this tender.
The new NXTP Labs fund (NXTP Fund II) will provide capital to 30 to 40 companies with investments of between one and five million dollars that operate in technology verticals such as FinTech, AgTech, EdTech, CleanTech, marketplaces, SaaS for SMEs, collaborative economics, disruptive technologies, among others.
“In Latin America there is an abundance of investment opportunities in high-impact technology companies. At the same level of risk and return, the selection must be made by impact as a third derivative of analysis“said Ariel Arrieta, co-founder of NXTP Labs and noted:”We believe that the transformative power of technology and capital to impact the lives of millions of people”.
Regarding selection, Arrieta added: “After many years of support to the entrepreneurial ecosystem in Argentina, we feel a recognition to all that we have worked together with the entrepreneurs of our country and Latin America“.