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Top Argentina Executives Bet On Biotech Startup Fund GridX

  • Accelerator raising new fund expected to reach $50 million
  • Venture capital has dried up in Latin America amid volatility

Some of Argentina’s most renowned business leaders including e-commerce billionaire Marcos Galperin and pharmaceutical mogul Hugo Sigman are among investors pledging more capital for biotech accelerator GridX as initial investments begin to pay off.

The Sielecki family, which runs a pharmaceutical business, and Gador SA are other names renewing their commitment to GridX. After a first fund raised $10 million, the second fund expects to hit $50 million by next year.