MIF Invests in NXTP Labs for LatAm Tech-Driven Social Enterprises

Jun 2017
Global, June, 01 2017 - Pay-as-you-go (PAYGo) solar companies have been lauded, by CGAP and others, for their ability to provide low-income rural households with clean, affordable energy. Yet there are many unanswered questions about their business models that may limit the speed and scope of their growth.

The Fund's target capitalization is US$120 million, with a set allocation ranging between US$30 and US$50 million to provide financing to companies in Argentina, Paraguay and Uruguay, depending on the Fund's final capitalization. Through this Fund, NXTP Labs will take to the next level the effort it started with NXTP Fund I, a US$38.5 million fund that has invested in technology companies in Latin America for the past five years, in which the MIF has also invested.

NXTP's Impact Investing Fund is an effective response to the emergence of socially conscious and dynamic entrepreneurs increasingly focused on solving big pressing societal problems by leveraging the power of technology.

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region. 

NXTP Labs is an early-stage venture capital firm, focused on technology companies from Latin America. With more than 180 investments, and offices in six countries across the region, NXTP Labs is one of the most active early-stage investor in Latin America. NXTP Labs believes in the transformative power of technology and capital to generate positive impact at scale. The company supports companies with innovative technological solutions that democratize access to products and services previously unavailable to large parts of the population in Latin America.

Source : BN Americas

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