Chile:
Accion Venture Lab Invests In A Start-Up
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Carey has helped a fund run by venture capital investor Accion
plug US$400,000 into a start-up that uses alternative data to rate
individuals' creditworthiness.
Destácame got further funding from another venture
capital source, Mountain Nazca, as well as individual investments,
receiving US$1 million in total. The deal closed on 18 January.
The Chilean company generates alternative credit scores using
data such as utilities payment history to help improve financial
access among communities.
Accion Venture Lab is an investment fund that provides seed
capital and support to innovative financial inclusion start-ups, to
promote business models that improve financial access for people
living in poverty worldwide.
In 2016 Carey formally established a private equity and fund
formation practice group to meet demand from several funds looking
to invest in Chile. The 10-lawyer practice is led by partners
Cristián Eyzaguirre and Francisco Guzmán.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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