About This Fund
Mundi Ventures LatAm Fund I is a $100 million venture capital fund dedicated to the next generation of technology-driven companies expanding access to financial and health protection across Latin America and the Caribbean. Managed by Mundi Ventures, a Madrid-headquartered venture capital firm with more than €1.5 billion in assets under management globally, the fund announced its first close in March 2026, anchored by IDB Invest—the private sector investment arm of the Inter-American Development Bank—and COFIDES, Spain's development finance institution, alongside leading regional insurance groups. The strong institutional backing from multilateral development finance reflects confidence in both the fund's financial returns potential and its development impact mandate across the region.
Mundi Ventures LatAm Fund I targets early-growth-stage companies from post-Seed to Series B in fintech, insurtech, healthtech, climate technology, and adjacent sectors. The fund plans to deploy approximately $5 million per investment into 12 to 15 portfolio companies across Brazil, Mexico, Colombia, Chile, and Argentina, focusing on businesses with proven product-market fit and annual revenues between $1 million and $3 million. The investment thesis centres on AI-first and deep tech companies building proprietary infrastructure, data-driven underwriting platforms, intelligent risk models, and next-generation embedded distribution channels that can dramatically improve financial inclusion and health protection penetration in a region where insurance penetration and formal financial access significantly lag global benchmarks.
The fund is led by General Partner Moises Sanchez and Partner Rafaela Andrade, who bring deep expertise in LatAm insurance ecosystems and technology-driven financial services. Mundi Ventures has already established a nucleus of category-leading portfolio companies through the fund, including Raincoat (parametric insurance platform, Puerto Rico), Sami (digital health insurance platform, Brazil), Betterfly (employee benefits and insurance platform), and Ole Life (digital life insurance), demonstrating the firm's ability to identify and back founders building transformative insurance and fintech businesses across the region. Mundi Ventures LatAm Fund I positions institutional investors for exposure to Latin America's rapidly evolving digital economy through a fund with demonstrable multilateral development finance validation.