By Nicole Orillac

Building stronger venture capital ecosystems across Latin America and the Caribbean requires more than access to funding. It also depends on developing local investment talent, strengthening fund management capabilities, and connecting emerging managers with the networks and resources they need to succeed.

With this goal, IDB Lab and Recast Capital have established a three-year partnership to support the development of venture capital fund managers in markets where the industry is still emerging. Through the LAC Emerging Fund Managers Launchpad, the collaboration will introduce Recast Capital's Accelerate program to Latin America and the Caribbean, connecting regional participants with experienced advisors, industry specialists, and fellow fund managers in the United States.

The initiative responds to persistent gaps in the region's venture capital landscape. According to LAVCA's 2025 Trends in Tech report, Brazil and Mexico account for more than 70% of regional venture capital investment, while several other markets receive only a small share. Supporting the development of locally based fund managers can help broaden investment opportunities and strengthen the ecosystems that enable innovative businesses to grow.

The collaboration will advance three interconnected priorities. First, emerging fund managers will participate in Accelerate's 12-month development program, gaining practical guidance on fundraising, investment operations, institutional readiness, and fund management, alongside peers from the United States. Second, dedicated workshops will help aspiring managers explore the process of establishing their first venture capital funds. Third, the initiative will engage regional investors to build greater familiarity with venture capital and encourage participation in locally managed funds.

“Venture capital can be an important source of financing for innovation-driven companies with the potential to scale, but strong venture ecosystems also need locally rooted fund managers with the support, networks and resources to succeed,” said Graham Macmillan, General Manager of IDB Lab. “Through this partnership with Recast, we are bringing a proven model to nascent venture ecosystems across Latin America and the Caribbean, helping strengthen local fund managers and expand pathways to capital for the region’s entrepreneurs.”

Since its launch in 2023, Recast Capital's Accelerate program has worked with 79 funds across three cohorts. By bringing this experience to Latin America and the Caribbean, the partnership seeks to help expand the region's pool of venture capital professionals, strengthen local investment ecosystems, and create new pathways for entrepreneurs to access capital.

Fund managers and investors interested in upcoming opportunities can learn more here.