Very proud to share that Reuse, one of our portfolio companies at Dalus, recently raised a $21M Series A led by At One Ventures, the San Francisco climate fund.
Continue readingReuse Raises $21M to Scale Refurbished Electronics in LatAm
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Don’t Miss the Incredible Movie Digger
Last weekend I saw the new movie Digger by the incredible, Oscar-winning Mexican director Alejandro González Iñárritu. It is a masterpiece with sharp, dark satire that frames the slow-motion tragedy of climate change through outright absurdity. I have never been a fan of Tom Cruise, but here he is marvelous and probably delivers the best performance of his career.
That same weekend, two hurricanes and a tropical storm pounded North America. It is worth highlighting that Isaias and Simon formed and matured into hurricanes at an alarming speed. This has been a record year for hurricanes in the Pacific. Although the region has always been subject to hurricanes, warmer sea temperatures caused by global warming fuel stronger, more damaging storms. Why? Because most of the heat absorbed by the planet due to greenhouse gases from fossil fuels ends up in the seas rather than the atmosphere. That could also be generating the super-strong El Niño we are seeing this year, which is another major factor driving hurricane formation.
Continue readingMy Conversation with Expansión magazine on Venture Capital and Impact
I recently sat down with Expansión, one of Mexico’s leading business magazines, to share an update on what we are building at Dalus Capital.
At Dalus Capital, my venture capital fund, we believe that funding tech should generate a positive impact for society and the planet in addition to financial returns. So, we focus on three themes that represent large opportunities in Latin America:
- Inclusion: Expanding access to finance, health, and education.
- Business Productivity: Backing digital tools, now very AI-focused, that make SMEs more competitive.
- Climate: Funding direct solutions for climate change mitigation and adaptation.
You can check out the short interview (in Spanish) in their August 2026 issue. I’ve attached the image below, and you can also read the full PDF online here.
Emerging AI jobs
Beyond the dark humor, this cartoon perfectly captures the current mood for many developers in the tech world. Not long ago, people were widely recommending becoming “prompt engineers.” That fad didn’t last long… and it shows just how difficult it is for humans to remain relevant at the current speed of AI development.
Watching Mexico vs Ecuador Live at the 2026 World Cup
Earlier this week, I had the chance to attend the Mexico vs. Ecuador World Cup match at Estadio Azteca in Mexico City. The atmosphere was incredible, with a full house of 80,824 people, most of them rooting for Mexico. It is pure, raw energy from some of the most faithful football fans in the world.
Here is the Mexican national anthem I recorded at the beginning of the game. It is breathtaking to hear 80k people chanting it at full volume. You can really feel the power and energy of the crowd.
I’m proud and ecstatic about Mexico winning this game and moving to the round of 16. I’m sure they will defeat England next Sunday at the same amazing venue.
I have other amazing videos, but I can’t share them due to FIFA’s absurd copyright infringement policies. I hope they do not block this one.
How You Can Take Direct Action for Venezuela Today
The news coming out of Venezuela over the last few days is incredibly heavy. On June 24, a massive doublet earthquake (a 7.2 magnitude shock followed less than a minute later by a 7.5 mainshock) struck the country’s northern coast. It is the most powerful seismic event the region has felt in over a century.
Right now, official reports count over 1,400 casualties and more than 3,200 injuries. But with more than 50,000 people still missing or trapped under rubble, the number of victims is expected to increase significantly. While Caracas felt the shockwaves and some buildings crumbled down, the coastal region of La Guaira took the brunt of the devastation. Entire apartment buildings, in some cases higher than 20 stories, have collapsed, and vital infrastructure, including the country’s main gateway, Maiquetía International Airport, is severely damaged.
Hundreds of other residential buildings didn’t collapse outright, but they have been damaged to the point that they are beyond repair and no longer usable. Thousands of people have lost their homes and all their belongings in a matter of seconds. If you want to see the physical scale of the structural impact, there is an updated interactive 3D map of La Guaira tracking the affected buildings, created with AI from satellite images.
How to Support the Relief Efforts
Venezuela desperately needs international help to deal with this catastrophe. Many organizations are raising funds to help those affected across the country. One initiative stands out because it comes straight from the Venezuelan entrepreneurial ecosystem. This is a community used to mobilizing very fast and generating immediate impact, and it is inspiring to see how local founders are stepping up.
Continue readingWhy we just backed five incredible teams building the future of Latam AI
At Dalus Capital, we have spent years evaluating technology across Latin America, and what we are seeing with AI lately has us very excited. We are looking at the start of a real wave of adoption for businesses across many sectors and stages. Week after week, we analyze dozens of startups in the region using AI across completely different use cases to solve massive, structural problems and deliver tangible productivity gains for businesses.
We are convinced of the disruptive role that AI will play in Latin America. This is not just about copying a global trend, but about applying this amazing technology to skip developmental stages and historical inefficiencies in our region. That is why we are actively backing some of the best teams in the region with both capital and our experience.
I want to share our five most recent AI investments:
Hallucinations
We’re Back: Scaling the Latam Climate Ecosystem
At Dalus Capital, we focus our investments on three specific verticals: Inclusion (fintech, healthtech, and edtech), Business Productivity (AI and SaaS), and Climate Innovation. While capital is a fundamental part of the equation for all three, we realized early on that climate innovation needed something extra—a dedicated space to build a community from the ground up. That is why we created the Latam Climate Innovation Summit in 2022. We wanted to provide a central meeting point for an ecosystem that was finally ready to take off.
The Last Sunset of 2025 and My Predictions for the New Year
I know that any predictions for 2026 will probably be wrong, but I am willing to bet on two specific trends.
1. Volatility and opportunity
I expect 2026 to be a year of above-average market volatility. It will likely mirror what we experienced in 2025. However, this creates massive opportunities in the startup and venture ecosystem. Tremendous innovation is happening right now, but in a market with restricted liquidity. Constraints often breed the best creativity, and I think we are about to see the proof of that.
2. The acceleration of AI-native products
AI development will continue to accelerate. This will happen in foundational models and in specific, AI-native products.
• Foundational models will generate performance far beyond what we have seen so far. They will push into the upper range of human capability.
• Specialized products will finally have their moment. While the adoption of general interfaces like ChatGPT and Gemini has been fast, the uptake of specialized tools has lagged. I expect that to change rapidly in 2026. We will see a wave of products that don’t just chat, but act. They will solve complex problems just as expert humans do.
Looking Back
Personally, this year has been very demanding but also incredibly rewarding. I am confident the rewarding part will continue in 2026. I just hope the “demanding” part dials down a little bit.
I am grateful for you, my readers, for following this blog over the years. As always, your feedback is welcome.
Happy New Year to you and your families. Enjoy the last sunset of 2025 from the Mexican Pacific coast.