30N Ventures rolls out $50m fund to back early-stage startups

(From left) 30N Ventures partners Salvador Said, Tomas Denecken, Juan Luis Palma, and Dan Kranzler / Photo credit: 30N Ventures

Chile-based 30N Ventures, a late seed- and series A-focused VC firm, has launched a US$50 million fund to support startups in Latin America, Southeast Asia, and Africa.

Founded by Tomas Denecken, Salvador Said, Juan Luis Palma, and Dan Kranzler, 30N Ventures primarily focuses on the fintech, foodtech, and retail sectors. Collectively, the VC’s four partners have made over 200 investments and have more than US$6 billion in assets under management, according to a statement.

While most of the US$50 million fund was raised by limited partners, the four founders have also committed a “relevant amount” to the fund, Denecken told Tech in Asia.

The average ticket size for investments will be around US$2 million. The VC firm is also reserving between 40% and 45% of the fund for follow-on rounds, Denecken added.

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“With a hands-on mindset, the partners and the sector-specific experts will help portfolio companies shorten the already-known processes to scale up quickly,” said Denecken. The VC fund is exit-oriented and “from series B onward, we will be pipeline facilitators creating an exit path through strategic partners,” he added.