LEAP Global Partners announced the launch of its first early stage venture capital fund, LEAP Partners I. The fund will invest in Latin American entrepreneurs based in Mexico and in the U.S. working on solutions the finance, marketplaces, health, education, shared economy, and media sectors.
(Press Release) LEAP Global Partners announced the launch of its first early stage venture capital fund, LEAP Partners I. LEAP’s mission is to develop, connect and invest in talented Latin American entrepreneurs working on impactful global solutions in the areas of finance, marketplaces, health, education, shared economy and media. The first fund, LEAP Partners I is a cross-border partnership with a strategic Limited Partner network that includes members of some of the most prominent family-owned enterprises in Mexico, as well as US investors, and will primarily focus on US Latino and Mexico based entrepreneurs.
“We are excited to launch a first of its kind, cross-border venture capital fund seeking to invest in one of the largest untapped entrepreneur opportunities: the Latino entrepreneur,” said Roman Leal, Managing General Partner of LEAP Partners I. “Only one percent of all venture capitalbacked companies is Latino-owned. Our hope is that our investment fund, strategic LP network and co-investment partners will serve as a catalyst for the next wave of global innovation by identifying, connecting and investing in the most talented entrepreneurs across the Americas.”
In conjunction with the first close of its fund, LEAP announced its early stage investments in two disruptive Latino-led companies in California: Listo of San Jose and PayStand of Scotts Valley.
“LEAP has the unique opportunity to serve as a bridge between Latin America and US Latinoled startups, beginning with companies headquartered along the West Coast Technology corridor,” said Giovanni Rodriguez, a Forbes contributor and advisor to startups and regional hubs that support them. “With investments in companies based in Silicon Valley, Scotts Valley, and with a pipeline of potential investments down the coast of California, LEAP is already beginning to light up that corridor while blazing a new path that others might follow.”
Jeremy Almond, CEO of PayStand notes, “one of the most compelling parts of working with the LEAP team is their focus on partnering with startups to help them grow beyond just a U.S. centric business. The partners at LEAP have the operating experience and the connections, to help startups lead the next wave of digital transformation across the Americas.”
LEAP is ready to support the growth of the next generation of innovation through strategic partnerships and its cross-border network.
“We are excited to collaborate with LEAP Global Partners in our journey to provide life changing financial services to the large underserved US Hispanic community,” said Samuel Ulloa, CoFounder of Listo. LEAP’s cross-border network and strategic partnerships will help fuel Listo’s growth and enable us to reach and help millions of hardworking families across America.”