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Chilean startups have received $ 11,175 million through angel investor networks in the last decade




The Chilean venture that stole 2018 was for many Cornershop, the application of home delivery for supermarkets that Walmart bought for nearly US $ 225 million.

Initially, the founders of Cornershop raised funding through networks of angels investors and subsequently some investment funds, all of them foreigners, especially from the United States and Mexico.

As well as that startup that became a successful company, there are hundreds of other venture capital firms in Chile that in their initial stages obtain financing through networks of investors angels. At the local level, these types of networks work through subsidies they receive from Corfo to finance their operations and subsequently capture resources from investors and manage them in venture capital firms, charging a commission for said service.

According to data obtained from Corfo through the Law of Transparency, 12 networks of investors angels obtained $ 2,212 million in subsidy by the state, between 2008 and 2018, but only nine managed to manage investments towards entrepreneurs. Thus, in that period, 96 projects or startups received $ 11,175 million through the networks.

That is to say, the investment management multiplied in 4,5 times the resources obtained by concept of subsidy.

The Networks

The network that managed more investor resources in venture capital firms in that period was Broota's investment and crowdfunding platform: $ 2.150 million in 17 projects, although it has subsidized Corfo for only two years, where it has received $ 200 million.

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

And the third place was awarded by Chile Global Angels (today Chile Global Ventures), linked to the Chile Foundation, which reported an invested total of more than $ 1,870 million in 25 projects. Meanwhile, Corfo granted a subsidy for a total of $ 439 million.

In the opposite path, according to the data, there were three networks that could not manage resources for startups: Santiago Angels, who received $ 80 million in subsidies, FEN Ventures ($ 79.8 million) and the National Chamber of Commerce network " Electronic Investment Platform "($ 79.9 million).

"On the subsidy of Corfo, the important thing is that the networks are able to multiply it," said José Antonio Berríos, founder and CEO of Broota. He added that "the investment made by networks in startups is very low, close to US $ 3 million per year, and the challenge we have is to achieve more success stories and that investors gain silver, in order to attract greater investment" .

The venture capital firms

Among the venture capital ventures that received resources through angel investor networks, Orionx, the platform that transa cryptomonedas, stands out and which, together with Buda and CryptoMarket, is confronted with the banks in the Defense Court of Free Competition after That these will close their accounts. This firm received $ 40 million between 2017 and 2018.

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

Other ventures are Payment Easy, SolarChile, Master Beer, Capitalize Me and Weeshing.


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