Mundi Ventures has announced the successful first close of its LatAm Fund I, a venture capital vehicle targeting $100 million to support emerging technology companies across Latin America and the Caribbean. The fund aims to accelerate startups that expand access to financial and health protection solutions, sectors that remain underdeveloped despite rapid digital adoption in the region. Early backing from institutions such as BID Invest and COFIDES, alongside regional insurance groups, signals strong institutional confidence in the strategy.
A Focus on Technology-Driven Protection
LatAm Fund I will focus on early-growth companies operating in fintech, insurtech, healthtech, climate technology, and related sectors. The strategy centers on AI-first and deep-tech startups building proprietary infrastructure, data-driven underwriting capabilities, advanced risk management systems, and next-generation embedded distribution models. These innovations aim to reshape how financial and health protection products are designed, priced, and delivered at scale.
Across Latin America, digital financial services and health platforms are expanding rapidly, yet access to protection products such as insurance remains structurally low. AI-native technologies and embedded distribution channels are demonstrating faster adoption and improved unit economics compared with traditional methods. This shift creates an opportunity for technology-driven companies to broaden protection coverage while operating with more capital-efficient business models.
Addressing a Regional Protection Gap
According to Mundi Ventures, the digital transformation underway in Latin America has not been matched by equal access to financial and health safeguards. Rafaela Andrade, partner at Mundi Ventures, noted that millions of people across the region still lack adequate protection despite growing digital connectivity. The firm believes the next generation of technology companies will increasingly integrate protection products directly into everyday digital experiences.
By combining sector specialization with strategic support from industry partners, the firm aims to help founders scale solutions that improve financial resilience. The approach positions protection services as embedded components within digital platforms rather than standalone products. This model could accelerate adoption by integrating coverage seamlessly into services consumers already use.
Strategic Limited Partners and Industry Expertise
One of the distinguishing features of the new fund is the participation of insurance companies and financial institutions as limited partners. Beyond capital contributions, these partners bring industry knowledge, operational insight, and clearly defined innovation priorities. Their involvement allows portfolio companies to collaborate with established industry players while helping those institutions modernize their own offerings.
Through these partnerships, insurers and financial institutions can refine products, accelerate digital transformation, and explore new embedded distribution channels. The alignment between investors and startups is designed to create a feedback loop that links venture capital funding with commercial execution. Mundi Ventures believes this structure strengthens both startup growth and institutional innovation across the region.
Advisory Leadership Strengthens the Fund
The fund is also supported by senior advisors Marcelo Blay and Sheynna Hakim, who bring extensive leadership experience from Latin America’s financial and insurance sectors. Blay previously held senior roles at Porto Seguro and Itaú Unibanco before founding and later selling Minuto Seguros. Hakim held leadership roles at Itaú and most recently served as chief executive of BNP Paribas Brazil.
Moises Sanchez, general partner at Mundi Ventures, said the advisors bring operational depth and regional leadership that will support founders building long-term companies. Their experience is expected to strengthen the firm’s ability to guide startups through strategic growth and industry partnerships. The advisory structure reflects the fund’s broader focus on combining venture capital with deep sector expertise.
Expanding Mundi Ventures’ Global Platform
LatAm Fund I also reinforces Mundi Ventures’ broader global investment platform spanning Europe, the United States, and Asia. The firm has previously invested in companies including Bolttech, Descartes Underwriting, Shift Technology, Klarna, and Job&Talent. In Latin America, the firm has supported startups such as Raincoat, Sami, Betterfly, and Olé Life.
Founded in 2015 and headquartered in Madrid, Mundi Ventures manages approximately €1.5 billion in assets and has backed more than 70 technology companies worldwide. The firm invests across sectors including climate technology, retail technology, insurtech, and fintech through a thematic investment approach. Its international team of 25 professionals from 17 nationalities provides a global perspective on emerging industry trends.
The first close of LatAm Fund I represents a strategic expansion of Mundi Ventures’ investment activity in Latin America’s rapidly evolving technology ecosystem. By targeting AI-driven companies focused on financial and health protection, the fund seeks to address long-standing coverage gaps while supporting scalable digital solutions. With institutional investors, experienced advisors, and a global investment platform, the firm aims to help build the next generation of technology companies reshaping protection access across the region.