LAVCA – the Latin America Venture Capital Association – just reported venture capital investment data for the first half of 2022. The results are in line with what anyone can perceive in the market. Fundraising has slowed down, impacted by 1) the steep adjustment in valuations of public tech companies, especially in the US market, and 2) many VC investors are on the sidelines as they wait for the market uncertainty to pass while concentrating their attention and resources on their existing portfolio companies.
I am happy to share several resources we put together at Dalus Capital for the Climate Innovation space in Latin America. This is an emerging ecosystem and we hope these initiatives will help its development.
The first Climate Innovation Startup Radar for Latin America. This is the first version with the startups in the region we have identified. Feel free to download and distribute this startup radar. If you know of other startups in Latin America that we should include, please share them with us here.
We also created a collaborative Latam Climate wiki that you can check out here: latamclimatewiki.com. Also open to all collaborations and suggestions on what to include.
A few weeks ago, I was invited by Jason Rissman to participate in his podcast Invested in Climate, together with two climate tech entrepreneurs – José Manuel Moller and Fernando Ocaña. José Manuel is the founder and CEO of Algramo, one of the circular economy startups in which we have invested from Dalus. Fernando is developing an electric Tuk Tuk for Mexico City.
The Dalus Capital team organized the first edition of the Latam Climate Innovation Summit in Mexico City last week. We partnered with several sponsors including the U.S. State Department, Amazon for Startups, INCmty, Tecnologico de Monterrey, Grupo Habita, Buna Coffee, Cultura Colectiva, and Daikin. Special shoutout to Dalus team members Chris Down, Eugenia Rendon, and Jimena Buitron, who led the effort.
Climate change represents an existential challenge for humanity today. The future of civilization is at risk if collectively we do not achieve a net-zero world. At Dalus, we are strong believers that multiple solutions are required including many tech-based that already exist today or that will need to be developed.
Below you will find a selection of books I recommend from what I read in the twelve months. An exciting combination of fiction and non-fiction.
The Ministry for the Future by Kim Stanley Robinson. A climate-fiction novel that presents a plausible future for the planet as the planet heats with the continuing burning of fossil fuels.
Dune by Frank Herbert. I read this for the first time when I was in my teens and it fascinated me. Recently decided to read the book again before seeing the new movie adaptation, which by the way I highly recommend as well. A deeply rich future with a very political plot.
Nuestra parte de noche by Mariana Enríquez. I really enjoyed this horror novel that presents a very elaborated dark world. This book from an emerging Argentinian female writer has won several awards. I believe an English version has not been released yet.
Las cosas que perdimos en el fuego (Things We Lost in the Fire) by Mariana Enríquez. Short horror stories written before the novel above.
Humanity continues consuming fossil fuels and carbon dioxide (CO2) continues accumulating in the atmosphere. For the first time, the level of 420 ppm was reached in 2022. The following charts show clearly how humans have caused this.
Recientemente fuí invitado a dos podcasts a hablar de emprendimiento e inversiones. Me gustaron mucho estas conversaciones. Se las comparto aquí:
Conversando con Jonathan Ruiz y Mauricio Moreno en el podcast Disruptivo con el tema “Invertir en Startups es como jugar al ajedrez”. Escuchen el podcast en spotify.
Conversando con Pepe Toriello de RDF Outlook sobre como un emprendedor puede dar el primer paso para acercarse a un fondo de venture capital levantar una primera ronda de inversión. Escuchen el podcast en spotify o apple podcasts.
Personally and at Dalus Capital, we are very concerned about climate change. If humanity does not transition out of fossil fuels soon enough, the warming of the earth would have catastrophic consequences on life on the planet, including on humans. You can see an animation at the bottom of this post that very graphically shows the scary trend we have created.
I believe the solution to the climate change challenge will require many complementary solutions, including startups using technology to mitigate emissions or generate resilience and adaption to the change that is happening.
I want to share that we had a Unicorn exit today: SoFi Technologies, Inc. announced the acquisition of our portfolio company Technisys – a global leader in digital banking for top-tier financial institutions. SoFi is one of the leading fintech companies in the US and is listed in Nasdaq with ticker SOFI. You can see SoFi’s announcement here and a WSJ article about the transaction. This is a 100% acquisition of Technisys, which is valued at $1.1 billion, to be paid in SoFi shares.
There has been a lot of hype regarding NFTs recently. NFT is short for non-fungible token – a unique digital identifier that is recorded in a blockchain, and that is used to certify authenticity and ownership of an underlying digital asset, typically a digital image. Most digital assets could be copied easily; the NFT is an identifier link to a specific asset that could not be copied. So, the owner of the NFT has a unique registered copy of the underlying digital asset, although there could be an infinite number of copies of the digital asset.