NXTP, the early-stage B2B venture investor in Latin America (LatAm), has closed its third fund, NXTP III with $98million commitments.
The third NXTP fund will focus on partnering with tech founders across the LatAm region. NXTP Fund III is double the size of its previous fund. This enables the firm to expand and scale its investing strategy to more founders and companies in LatAm. Additionally, it can better support the portfolio over longer stretches of time.
The fund’s limited partners are largely composed of US and global institutional funds, regional fund-of-funds, multi and single-family offices, high-net-worth individuals, and technology founders from Latin America, the United States, and Europe. The majority of NXTP’s existing investors in previous funds participated with higher allocations in the new fund. Furthermore, new, large global institutional investors also took part reflecting the firm’s sustained performance over time.
“We are excited to continue backing exceptional founders and companies across LatAm. Despite the recent macro headwinds in global venture funding, we have managed to close our largest fund to date. This affirms our track record, long-term investing strategy, positioning, and the potential of the LatAm market,” says Darly Bendo, managing partner of NXTP.
History of NXTP
Founded in 2011, NXTP is one of the most established and active early-stage venture firms in LatAm, with offices in Buenos Aires, São Paulo, and Mexico City. The fund invests in technology start-ups at the pre-seed, seed, and Series A stages with checks ranging from $500,000 to $5million. It applies a thesis-driven investing approach across several B2B technology verticals. This includes cloud and software (enterprise, mid-market, SMB), fintech and payments, e-commerce and enablers, B2B marketplaces, and data and AI.
NXTP has backed over 130 companies, which collectively have gone on to raise over $2billion in additional capital. NXTP’s portfolio across its three venture funds includes six unicorns and over 30 exits to date. The fund draws on its deep network in LatAm to identify the region’s best entrepreneurs. Then, it actively helps them expand their businesses to other countries and globally in many cases.
“We are convinced there is a significant opportunity in Latin America to help enterprises and SMBs become more efficient. Especially in terms of digitising their operations and incorporating more technology into their workflows. We will see the emergence of very large companies that help address this, and NXTP is uniquely positioned to identify them and help them grow”, says Alexander Busse, managing partner of NXTP.
With its new fund, NXTP will look to continue capitalising on the long-term technology tailwinds across sectors in LatAm. In doing so, it continues its commitment to founders, companies, and communities in the region.
