(MIF/FOMIN) “The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has approved a USD 3.1 MM in technical assistance for the project “Platform for Catalyzing Early Stage Investment”, a regional project that will support the creation and development of 20 angel networks in Latin America and the Caribbean Countries.
The Platform for Catalyzing Early Stage Investment is a pioneer initiative focused on increasing the access to financing for dynamic enterprises through angel investor networks and promoting a cultural change to support risk-taking by entrepreneurs and investors. It emphasizes key interventions such as: training activities for entrepreneurs, network managers and angel investors to speak a common language, raising awareness of the importance of the role of angel investors and angel networks in early stage financing, collecting data on the angel market and generating and disseminating knowledge as a public good.
The project will contribute to increasing the flow of early stage financing to entrepreneurs, acting as a platform where both angel investors and entrepreneurs can meet. “In this way, this project promotes the democratization of who gets access to finance: entrepreneurs of all economic status will be able to access these angel networks, regardless of their individual connections”, said Susana Garcia Robles, Topic Lead for Early Stage Equity at the MIF and Co-Team Leader of the project. “In the MIF’s view, entrepreneurs are not defined by their social status but by their innovation and capacity to create companies that can respond to market demand, and this is beginning to happen in many countries of the Region.”
The project also expects to contribute to the increase in the number of women entrepreneurs, mentors, and angels. “By adding a focus on women, the project builds on the untapped potential of millions of women entrepreneurs who lack financing to build and grow their businesses,” said Marta-Patricia Aparicio, MIF Co-Team Leader for this operation.
The Multilateral Investment Fund (MIF) has a long track record of supporting dynamic entrepreneurship in the region and has pioneered efforts to build the entrepreneurial ecosystems of the region, working with the public and private sectors.