The news: US-based L’Attitude Ventures secured $100M to launch a fund to support Latino American startups based in the US, per FinExtra.
More on the fund: Geared toward startup Latino-owned companies with high growth potential, the new fund received investments from large banks, including JPMorgan Chase, Bank of America, and Royal Bank of Canada.
What is L’Attitude Ventures? Founded in 2019 by Sol Trujillo, from the start L’Attitude Ventures was focused on Latino entrepreneurs. The firm provides various levels of support to founders as they transition from just starting out to finding partners and investors.
Latino entrepreneurs: L’Attitude Ventures’ mission is encapsulated in its entirely Latino leadership team, which believes properly funded Latino startups can have a large impact on the economy. According to L’Attitude Ventures,
Trujillo believes these startups will provide a strong return on investment for at least the next 30 to 40 years, as many are already deeply connected with young Latino consumers.
The big takeaway: So far, 2022 has seen markedly lower investment and funding to fintechs and startups. And our outlook is that it will remain that way through H2.
But there’s a trend emerging regarding who’s getting those relatively scarce funding dollars. Investors are directing assets to startups with an affinity or niche focus on those who have traditionally been underserved. This could move the dial on financial equity during the current economic downturn.
11 Times SquareNew York, NY 100361-800-405-0844