The European financial group GVC Gaesco and the venture capital firm Next Tier Ventures, specialized in investing in Artificial Intelligence (AI) and B2B software companies, launched a new fund for 50 million euros, aimed at startups linked to AI in Latin America.
According to the study ‘AI for Business Study: Latin America’ prepared by the consulting firm TCS (Tata Consultancy Services), 95% of companies in Latin America have AI implementations planned, in progress or completed and close to 72% are restructuring its operations, strategies and products to incorporate related solutions.
“The purpose of this first fund, under the corporate name Next Tier GVC Gaesco SCRSA, is to carry out between 30 and 35 operations in B2B Artificial Intelligence startups. Our goal is to find those projects that, using technology, seek to improve the lives of people and our industries.”says Paco Illueca, investment director of GVC Gaesco.
The selected companies will receive support from their initial phase to their maturation. To achieve this, in the coming months they will raise funds aimed primarily at family offices and private investors.
These types of technologies promise to develop a faster and better world, changing the ways of working and communicating. “Countries that decide to invest in AI will be more competitive and grow faster. The birth of this first investment fund focused on AI is only the first of those that will see the light of day as a result of the association with Next Tier Ventures”points out Patricia Pastor, general partner of Next Tier Ventures
This new investment fund, which is the first in a line of venture capital funds that both parties will soon launch, is in the final fundraising phase to achieve the objective of 50 million euros, a goal that is projected to be achieved in the coming months.
