The Inter-American Development Bank is anchoring NXTP Labs’ new impact equity fund.
NXTP is seeking to raise $120 million to support 30 to 40 early-stage companies in Argentina, Paraguay and Uruguay.
The fund’s mandate is tech-based impact, covering fintech, edtech, agtech and other sectors that aim to “democratize access to products and services” unavailable to much of the region’s population.
NXTP, launched in Argentina in 2011, raised $38.5 million for its first fund and invested in 184 companies. NXTP has been successful at leveraging small investment amounts from a large number of investors.
In 2015, it launched its Emerging Markets High Impact Tech Startups on the Vienna Stock Exchange.