IDB Lab launches Request for Proposals for LAC-Korea Startup Fund for interested VC fund managers

Seul Korea skyline

IDB Lab, the innovation laboratory of the Inter-American Development Bank, is pleased to announce a Request for Proposals for the LAC-Korea Startup Fund initiative. IDB Lab is supporting the creation of LAC-Korea Startup Fund to take advantage of both the momentum in the Latin American and Caribbean (LAC) startup ecosystem and the existing dynamism of the Korean VC and startup ecosystem. 

The LAC-Korea Startup Fund will provide early stage financing to two categories of startups and scaleups:  LAC companies expanding within and beyond LAC (in particular Korea/Asia), and to Korean companies operating in or expanding to LAC. This initiative is set to increase cross-regional investments via active participation of both Korean and LAC Limited Partners (LPs), as well as cross-regional partnerships between startups, accelerators, and other ecosystem actors. 

IDB Lab, along with its interested co-investors, is now seeking a dedicated General Partner (GP) from both Korea and LAC regions who will make all financial, legal, and operational decisions for the proposed Fund, among other duties.  The selection will be made by IDB Lab and independent experts.

Firms are encouraged to submit an Expression of Interest by September 23rd, 2019. More information about the opportunity, timeline, and how to apply is available via this link

Firms with proven experience with startup investing and presence in countries either in the LAC region and/or Korea will be preferred.

Any inquiries can be directed to: susanaro@iadb.org, gyoungc@iadb.org & jeehyony@iadb.org 

Learn more about the Korean VC ecosystem and the LAC VC ecosystem.