Startup Uruguay?

by Nathaniel Whittemore · 2009-09-12 14:34:00 UTC
Topics:

VentureBeat has a terrific article today about the first venture capital firm in nation of Uruguay.

The company is called Prosperitas Capital Partners and when it was formed in 2005, there was so little infrastructure that even the lawyers didn't know how to write venture term sheets. The company's first fund was a $10 million dollar fund that invested in healthcare and technology companies. They're working on raising a $100 million fund and partnering with a Bay Area VC firm for another venture fund for Latin America more broadly.

The article also explores why Uruguay, although not seemingly the most obvious destination for venture money, actually has some significant advantages.

  • Although the country is one of the most leftist oriented in it's region, it has consistently maintained a pragmatic and consistent outlook towards the value of external political relationship

  • The smallness of it's markets force companies to be creatively global right from the beginning

  • The government has an aggressive agenda to digitize and wire the country, which could essential entrepreneurial infrastructure

I love articles like this. There is so much energy and creativity in places - whether cities like Boulder right now or countries like Uruguay - that are trying to build new entrepreneurial ecosystems, it's hard not to get excited.

(Photo: Mattrubens)

Nathaniel Whittemore is the founder of Assetmap. Previously he was the founding director of the Northwestern University Center for Global Engagement.
PREVIOUS STORY:
Social Enterprise at Seedcamp?
NEXT STORY:
Facing Forward: The End of the Social Entrepreneurship Blog on Change.org

COMMENTS (0)

    Comment Policy

    · All fields are required to comment.

    [X]

    Comments on Change.org are meant for further exploration and evaluation of the campaign on Change.org. To that end, we welcome constructive comments. However, we reserve the right to delete comments which, as determined solely in our discretion: (1) are offensive, abusive, or off-topic; (2) include content solely intended to personally attack the campaign creator, (3) are designed to subvert or hijack comment threads rather than contribute to them; and/or (4) violate our terms of service and/or privacy policy. Repeat offenders may be permanently removed from the site at our discretion. Please also be advised that: (A) we do not actively curate and/or monitor in any manner whatsoever the comments made on the Change.org platform, and (B) the creator of each campaign on Change.org may remove any comment at her/his/its discretion.