They stated that part comes from the United States Finance Corporation for International Development and another part from the Agrisal Group and the Steiner Group.
Yesterday, the United States government, in cooperation with local companies, announced an investment of up to $3.7 million in early technology projects in El Salvador.
Part of this amount comes from the ICV DELTA FUND I investment fund, supported by the United States Agency for International Development (USAID), which has officially received up to $2.5 million from the US International Development Finance Corporation (DFC). in the country.
“DFC is pleased to work alongside USAID to support investment in early-stage technology entrepreneurs. The support from DFC and the Agency is USAID will enhance the fund's ability to finance innovative business solutions for underserved communities and small businesses.
But in addition to the Development Finance Corporation, Grupo Agrisal and Grupo Steiner have jointly invested $1 million to finance startups so they can become an engine for regional development, with the aim of generating economic growth and employment.
“We welcome the support announced by the Freedom and Change Coalition. This commitment of up to $2.5 million will enhance the ability to invest in high-impact startups and stimulate growth in the region.”
See: “The Salvadoran entrepreneur must step outside his physical or geographical boundaries and understand that we are all interconnected.”
The fund aims to raise $10 million, and plans to invest it in up to 25 early-stage technology startups in the health, finance, education, real estate, agriculture and logistics industries, that have scalable, high-growth business models. They did the details. .
They noted that the American cooperation also seeks to support innovative entrepreneurship in the region through this fund.
“In today’s world, technology has the power to revolutionize industries and open new possibilities for growth. But innovation requires investment and resources to research, develop and implement innovative ideas. Access to Funds allocated to innovation and technology play an essential role.
The Agrisal president added that through the SNBX innovation platform, the business group is “strongly committed to developing the entrepreneurship ecosystem in El Salvador. We strongly believe that innovation is the engine that will drive the future of our country and the region.”
Investing in Central America
The US-promoted ICV DELTA FUND I was launched in June 2023, with the aim of investing in startups in El Salvador, Guatemala and Honduras.
“The name ‘Delta’ represents a positive change for Central America. This is the first regional fund to focus exclusively on Central North America, which reflects the belief of each Inogen Capital member, and its investors, in this region’s potential for innovation and development,” said Rodrigo Dumont, representative of Inogen Capital. Economic.
Inogen Capital is a venture capital fund manager that invests in early-stage technology companies in Latin American countries such as Colombia, Mexico, Central America and the Caribbean. It also empowers technology entrepreneurs who are changing the way Latin America does business.
They stated that Innogen Capital expects to close its fundraising goal of $10 million in the next eight months, with the aim of expanding its impact on the Central American business ecosystem.
In addition, they noted that the firm's investment approach focuses on companies using high-impact technologies, highly scalable to other industries and geographies, with the goal of portfolio entrepreneurs maximizing their potential and competing in other markets.
