The Ledger
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Kaszek Ventures Refuses to Back Startups Using Capital as a Moat
“We don't back businesses that claim that they have capital as a source of moat. We don't believe in that.”
Szekasy: Local network edges make cross-border VC investing ineffective in distant markets
“We believe that the fact that we have been around for 20 years gives us an edge on many dimensions, where one degree of separation from anything that a founder might need might argue that we could not be successful VCs in Indonesia, for example.”
Szekasy: Kaszek Will Keep Core Early-Stage Fund Size Capped
“We are fully convinced that we are first and foremost an early stage investor, and for that there's a certain size of fund that has a limit to ensure that you stay very effective and you continue to produce outsized returns. So that will not change, and maybe …”
Multiple Kaszek Portfolio Companies Will IPO in the US by 2023
“When you look at our portfolio, there are many companies that have IPO in their sites over the next 24 months. So there will be many more coming in the U.S.,”
Out-of-Touch MercadoLibre Board Members Inspired the Founding of Kaszek
“Part of us being motivated to start Kasek with Hernan was that we had board members at Mercado Libre who were members of the banks or these financial institutions, and they were really great guys and really smart guys and well-intended, but they had no idea of…”
Szekasy: Kaszek will miss more deals as Latin America market deepens
“Interestingly, during this first decade, we didn't have a lot of misses. We know that in the second decade, we will have many more, because the market now is much Deeper.”
Szekasy: Kaszek only invests in startups that can return the entire fund
“And every investment, the bar is that it will become a fund maker. So if we don't think that it has the potential of becoming a fund maker, we would not do an investment.”
Kaszek sets a 5x minimum return threshold for its Opportunity Fund
“And the criteria is that at a minimum, the return will be five X from the point at which we invest, hopefully 10 X from the point at which we invest.”
Kaszek Backed Nubank's Seed Round When It Was Just a Deck
“In Nubank, we invested in the seed investment together with Sequoia, so it was a PowerPoint really early on, David Velez by himself, and that's when we joined, and then we participated out of the fund one in several rounds in the series A and the B and the C a…”
Kaszek Missed dLocal's IPO After Passing on Its Early Business Model
“If I had to name one company, it would be the local. They just IPO'd. We met the team many years ago. We really liked the team, so not only we referenced them, but we got to know them, and we thought they were of the highest caliber, but their initial approach…”
Szekasy: Kaszek raised $1B across early-stage and opportunity funds in 2021
“This year we raised a billion between our early stage and our opportunity vehicles.”
JOKR has raised over $170M from GGV, Balderton, SoftBank, and Kaszek
“To date, Ralph has raised over a hundred and seventy million dollars for the company, from the likes of GGV, Balderton, Soft SoftBank and Kazak, to name a few.”
Kaszek led NotCo's Series A when it had seven employees
“And here we participated out of our opportunity fund as well. We had invested in the company. It had like a small kitchen with seven employees in Chile several years ago when we led the Series A. So excited that we managed to invest in several rounds out of ou…”
Kaszek Ventures evaluates ~200 companies for every deal closed
“By the way, we talk to something like 200 companies for everyone that we invest in, so we spend a lot of time talking to everyone in the ecosystem.”
Kaszek avoided crypto until investing in Bitso in 2020
“We stayed for years on the sidelines on crypto, and we made it in 2020, and this is a company that we were disciplined, and we kept on following for years despite that prior rounds we had passed, and then after our first investment a few weeks ago, we doubled …”