Draper Cygnus allocates 50 million fund for Latino entrepreneurs

Draper Cygnus allocates 50 million fund for Latino entrepreneurs

Miami, Nov 2 (EFE) .- Draper Cygnus, a venture capital company that invests in cutting-edge technology, launched a new fund of 50 million dollars for Latino entrepreneurs from anywhere in the world capable of solving global problems of various industries and sectors, as was announced on Tuesday.

This new fund, called “Draper Cygnus Latam Fund”, is the firm’s fourth in its nine years of life and has among its investors Tim Draper, a world leader in “venture capital” (risk capital).

Draper was one of the pioneers in investing in companies such as Tesla, SpaceX, Coinbase or Robinhood.

Cryptocurrencies, quantum computing, cybersecurity, artificial intelligence, mega data, robotics and biotechnology are some of the “focuses” on which the “Draper Cygnus Latam Fund” has focused, according to a statement.

“There are many Latin startups that are developing world-class science and technology, but that require capital to continue advancing and are not in the focus of traditional venture capital,” explained Diego González Bravo, founder and deputy administrator of Draper Cygnus.

The new fund, already “operational”, had seven “startups” as recipients with diverse entrepreneurs from Mexico, Peru, Argentina and Brazil, among other countries, he adds.

The startups are Novo Space, based in the United States and with Latino founders, which has developed a modular platform of radiation-tolerant, high-performance computer hardware and software for space applications.

Another is Stamm, a biotech company that is redesigning bioreactors from the ground up by combining microfluidics, electroporation, 3D printing and robotics.

The innovative Lemmon, a company in charge of uniting traditional finance with cryptocurrencies in a virtual wallet, was also chosen; Codiga, a startup that created a solution based on Artificial Intelligence, and Oasys, the company that has “rethought” the way of designing and building houses through the use of “metal additive printing” technology.

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