Latin America | April 25, 2024

IDB Lab backs small businesses in Paraguay and health access in Ecuador

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

The Inter-American Development Bank’s experimental venture funding group IDB Lab provided a $3 million anchor investment for iThink VC, an investment firm that supports early stage tech startups in Latin America, focusing on Paraguay and Bolivia.

iThink VC was co-founded in 2021 by Jazmin Gustale Gill, Paraguay’s former vice minister of inclusive economic growth and founder of the country’s national innovation strategy, and Juan Cruz Valdez Rojas, who previously worked with Bayer and Monsanto. They have made 10 investments, including Bolivia-based Koban, a neobank, and DeltaX, an Uber-like service for heavy cargo shipments and deliveries.

“I see how Latin startups are transforming our region’s problems into business opportunities,” said Gill.

iThink VC is looking to raise $20 million for its fund.

Investing in health

IDB Lab also provided $2 million in debt financing to DoctorOne, a telemedicine service for remote patients in Ecuador. The company partners with cooperatives, associations and microfinance institutions to treat people in their networks and in the communities they serve.

DoctorOne is expanding its virtual healthcare services and launching mobile units to provide affordable in-person care in rural areas.