IDB Lab, the venture capital division of the Inter-American Development Bank, has agreed to provide up to $3 million to a digital technology seed fund in Latin America, according to a press release.
The commitment ties into the IDBImpact+ strategy to expand access to start-up capital, foster regional innovation and provide capital to fund managers that invest in early-stage companies in emerging markets.
The Amador Seed Fund II expects to invest in roughly 25 software start-ups with Mexico, Chile, Colombia and Central America as the main markets. The fund will focus on financial services, health, education and enterprise software. It will also consider investments in logistics, mobility and technologies for the real estate sector.
Panama-based Amador used its first seed fund to invest in 30 start-ups in 11 countries in Latin America and the Caribbean.
