Upload Ventures is raising $250M to invest in Brazil- and Mexico-based startups.
The firm's founding team members previously worked at Softbank.
- The firm has already raised $50M from investors such as telecommunications company TIM.
- Upload Ventures aims to invest in late-stage startups based in Latin America, with an emphasis on those based in Mexico and Brazil.
- Some of the companies that Upload has invested in are:
- Abstra,
- Arch,
- Olist,
- Worc,
- Salu,
- Plerk, etc.
- This fund will be deployed over the next two years, according to company officials.
- Funding in Latin American startups in Q3 dropped 93% YoY, a sign that the funding drought has significantly affected the market.
- The firm is based in São Paulo, Brazil.
