Caja Los Andes has officially entered the startup investment landscape with the launch of its corporate venture capital arm, Leap. The new entity marked its debut with a US$325,000 investment in Soyio, a Chilean startup specializing in data privacy infrastructure. This move underscores the compensation fund's strategy to anticipate future trends in well-being and support impactful technological solutions.
A Strategic Leap into Corporate Venture Capital
The creation of Leap stems from a forward-looking vision to address the evolving definition of well-being, according to General Manager Pedro Pablo Mir. He explained that the concept has changed dramatically and will continue to transform, necessitating a proactive approach beyond short-term innovation. Leap was established to centralize all of Caja Los Andes' innovation initiatives under a single, structured platform.
This new platform integrates open innovation, venture client relationships, and now, direct startup investment. Leap's core mission is to combine strategic impact with financial returns, leveraging Caja Los Andes' vast network to help startups scale. These startups in turn provide innovative solutions that align with the fund's mission and benefit its affiliates.
Investment Strategy and Focus
Leap is backed by a US$9 million fund and plans to build a portfolio of approximately 20 startups over the next several years. The firm intends to execute up to five investments annually, with individual ticket sizes ranging from US$300,000 to US$1 million. This structured approach allows for a diversified portfolio while providing meaningful capital to promising early-stage companies.
The fund will target companies in their seed and Series A stages that have already demonstrated market traction with a proven product. Its investment focus spans key verticals related to well-being, including fintech, insurance, savings, health, education, and tourism. This broad scope enables Leap to explore diverse solutions that could redefine well-being in the future.
Inaugural Investment in Data Privacy
Leap's first investment in Soyio was a deliberate choice, reflecting the growing importance of data privacy in modern life. Mir noted that the ability for individuals to control their personal data is becoming a fundamental component of well-being. Soyio's focus on consent management infrastructure directly addresses this emerging need for digital security and tranquility.
The US$325,000 investment was finalized in January as an extension of a previous US$1 million round raised by Soyio. The decision came after a rigorous evaluation of over 300 startups, with Leap being impressed by Soyio's vision and team. This inaugural deal sets a clear tone for Leap's commitment to strategically relevant technologies.
Soyio's Mission to Elevate Privacy Standards
Soyio, led by founders Óscar Quevedo and Matías Menich, provides crucial infrastructure for large enterprises. Its technology enables companies in finance and retail to manage and audit personal data consent in compliance with evolving regulations. The platform does not store personal data, but rather the evidence that consent was lawfully obtained.
The founders bring valuable experience from the digital payments sector, having previously founded QVO, which was acquired by unicorn Kushki. Quevedo explained that consent functions similarly to payments, with distinct layers and responsibilities, inspiring Soyio's "privacy by design" approach. This expertise provides a strong foundation for building a robust privacy infrastructure.
The new capital will be primarily allocated to enhancing Soyio's product and expanding its team with top talent. The company aims to set a new standard for data privacy in Chile and later across Latin America. This growth is timely, aligning with the anticipated implementation of a new national data protection law.
The launch of Leap and its investment in Soyio marks a pivotal moment for Caja Los Andes, signaling a deep commitment to long-term innovation. By backing startups that address future challenges like data privacy, the fund is actively shaping the future of well-being for its members. This symbiotic relationship positions both Leap and its portfolio companies for significant growth and impact.