Wealthy Family Looks to Shake Up Chilean Venture Capital Scene
- Ibanez-Atkinson siblings may invest $80 million of own money
- Kayyak Ventures wants to grow without government support
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Heirs to one of the largest retail M&A deals in Chile’s history have their sights set on overhauling the country’s timid venture capital industry, and plan to make a social impact at the same time.
It’s time for domestic venture capital firms to stand on their own feet and not depend on the tutelage provided by Chile’s government, according to Andres Pesce, Chief Executive Officer of Kayyak Ventures.