Sunday , March 7 2021

Chilean startups have received $ 11,175 million through angel-investor networks over the past decade




The Chilean venture stolen in 2018 was for many Cornershop, the home delivery application to supermarkets that American Walmart acquired for about $ 225 million.

At the outset, Cornershop's founders raised funds through networks of angel investors and subsequently some investment funds, all foreign, especially from the United States and Mexico.

In addition to the startup that has become a successful company, in Chile there are hundreds of other venture capital companies that, in their initial stages, obtain financing through networks of angel investors. At the local level, this type of network works with subsidies received from Corfo to finance its operations and subsequently attract funds from investors and administer them at venture capital firms, charging a commission for this service.

According to data obtained from Corfo through the Transparency Law, 12 networks of angel investors obtained US $ 2,212 million in subsidies from the state company between 2008 and 2018, but only nine managed to invest in projects. Thus, during this period, 96 projects or startups received US $ 11,175 million through networks.

In other words, the management of investments multiplied the resources obtained by subsidy in 4.5 times.

Networking

The network that most managed investor resources in venture capital firms during this period was Broota's investment and crowdfunding platform: $ 2,150 million in 17 projects, despite receiving a subsidy from Corfo just two years ago, where it received US $ 200 million.

In second place was the Southern Angels, linked to the Adolfo Ibáñez University, where US $ 1,970 million were placed in four projects. In turn, the state entity gave them $ 50 million in that period.

And third place was awarded to Chile Global Angels (now Chile Global Ventures), linked to Fundación Chile, which registered a total investment of more than US $ 1,870 million in 25 projects. Meanwhile, Corfo granted him a grant totaling $ 439 million.

On the opposite side, according to the data, there were three networks that could not manage startups: Santiago Angels, which received US $ 80 million in subsidies, FEN Ventures (US $ 79.8 million) and the National Chamber Trade. Electronic Investment Platform "(US $ 79.9 million).

"In the Corfo subsidy, the important thing is that the networks are capable of multiplying it," said José Antonio Berríos, founder and CEO of Broota. He added that "the investment made by the networks in the startups is very low, close to $ 3 million a year, and the challenge we face is to get more success stories and investors to make money to attract more investment." .

Venture Capital Companies

Venture capital ventures that have received funds through angel investor networks include Orionx, a platform that exchanges crypto-coins and, along with Buda and CryptoMarket, faces banks in the Free Competition Court of Appeals after they go close your accounts. This company received $ 40 million between 2017 and 2018.

The startup that received the most money was Super, an application similar to Cornershop, over $ 446 million.

Other ventures are Pago Fácil, SolarChile, Mestra Beer, Capitalize and Weeshing.


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