SVB Financial Group announced the close of the Latin America Growth Lending Fund, a new $30 million venture and growth debt fund with Partners for Growth (PFG) and IDB Invest. The Fund aims to unlock innovation by providing capital to help emerging growth companies across Latin America and the Caribbean scale operations.
The fund will provide structured debt to later stage companies in the region in sectors such as software, technology, life sciences, healthcare and fintech, among others.
According to LAVCA, the Association for Private Capital Investment in Latin American, venture funding in Latin America more than doubled in 2019 to a record $4.6 billion compared to nearly $2 billion in 2018. Leading sectors by dollars invested include fintech, logistics and distribution, proptech and marketplaces.
“The innovation sector in Latin America has experienced incredible growth and venture capital interest in recent years,” said John China, president of SVB Capital. “We’ve had the opportunity to work with many of the leading entrepreneurs and companies in the region and can attest to the vibrancy and strength of the innovation industry. We are excited to collaborate on this fund with Partners for Growth and IDB Invest to support high-growth Latin American and Caribbean companies.”
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“We have enjoyed a strong partnership with SVB over the decades across many markets globally and we are pleased to be partnering in this initiative to bring innovative debt solutions to emerging growth companies in Latin America. We are glad to have support from IDB Invest as a cornerstone institution in the region and look forward to working together with SVB’s impressive and growing client base,” noted Andrew Kahn, CEO of Partners for Growth.
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