Kaszek, one of Latin America's leading venture capital firms, has named Guilherme Lago, the former chief financial officer of Nubank, as a new partner and member of its investment team. Lago will remain a special advisor to Nubank while contributing his experience to the firm's portfolio companies and its broader investment strategy. The appointment coincides with the final stage of Kaszek Ventures VII, which is expected to reach US$600 million, exceeding the US$540 million raised in 2023.
A Seasoned Financial Executive
Lago joined Nubank in June 2019 as a finance director and was promoted to chief financial officer in February 2021. During his time at the digital bank, he became one of the main interfaces between the company, its investors, and the broader financial market. Before Nubank, he spent thirteen years at Credit Suisse, where he reached managing director, and also worked in consulting and investment roles at Advent and McKinsey.
Seventh Venture Fund Nears Final Close
Kaszek, founded by Hernan Kazah and Nicolas Szekasy, both former MercadoLibre executives, is completing its seventh venture capital fund, expected to close at US$600 million, according to reports. This amount surpasses the US$540 million raised in 2023 and builds on more than US$3 billion mobilized since the firm was founded in 2011. Kaszek has invested in over one hundred startups, including Nubank, QuintoAndar, Creditas, Gympass, Kavak, and Bitso.
Existing Capital and Follow-On Strategy
The firm still holds about half of the previous US$540 million fund and plans to allocate much of that capital to follow-on investments in existing portfolio companies. Its Opportunity II growth fund, which invests exclusively in portfolio startups, has approximately two thirds of the roughly US$500 million it raised still available. According to partner Hernan Kazah, that vehicle cannot raise additional capital until the current resources are fully invested.
Strategic Impact at Nubank
At Nubank, Lago helped guide the company from a single-product, single-country operation into a public company serving more than 135 million customers across Brazil, Mexico, Colombia, and the United States. He played an important role in the bank's landmark NYSE initial public offering and served as chairman of the board of Nu México. His responsibilities spanned strategy, capital allocation, capital markets, mergers and acquisitions, and governance, and he has been repeatedly recognized as one of Latin America's leading CFOs.
Alignment With Kaszek's Culture
Kaszek's leadership emphasized that Lago shares the firm's commitment to intellectual honesty, humility, teamwork, and lasting relationships with founders. They also highlighted his conviction that technology is a powerful force for economic and social development in Latin America. As Kaszek launches Fund VII, his experience is expected to strengthen the firm's ability to help entrepreneurs scale, navigate complexity, and mobilize capital from pre-seed through initial public offering.
Lago's transition from portfolio company executive to venture capital partner highlights the growing value of operational experience in Latin American technology investing. His appointment strengthens Kaszek's ability to support founders through different growth stages while drawing on one of the region's most successful fintech journeys. With a larger fund nearing its final close, the firm is positioning itself to identify and back the next generation of companies shaping Latin America's future.