The way family offices in Chile view venture capital investing is changing, BNamericas was told.
These firms are no longer seeing the activity only through the lens of financial returns.
“Various family offices think of the venture capital business in much broader terms: not just investing in a company to make money,” David Cohen (pictured), managing partner of Chilean asset manager AMM Capital, said.
AMM’s clients include family offices – established to primarily handle investment and wealth management for high net worth families.
AMM recently formed an alliance with Jerusalem-based global venture capital investing platform OurCrowd. Via the partnership, AMM clients will be able to invest in emerging tech companies vetted and selected by OurCrowd, which also invests its own capital.
“Many see this access to innovation as a way of also bringing innovation into the region and to accelerate the process of technological transformation for the benefit of the population, to improve the lives of people in this part of the continent,” Cohen said.
“They see not just monetary value; they see social responsibility.”
AMM Capital is investing through OurCrowd’s so-called top-tier opportunity fund, which co-invests in funding rounds when one of the world’s top 40 funds leads the investment.
Via its alliance with AMM Capital, OurCrowd plans to sharpen its focus on Chile’s venture capital scene.
The biggest player of its kind globally, Jerusalem-headquartered OurCrowd is an equity crowdfunding company that has committed funds of around US$1.5bn, pumped into over 200 firms and 22 venture capital funds.
In Latin America, OurCrowd has already formed similar alliances in Brazil and Mexico.
