• Kaszek, a leading Latin American venture firm, invests in DeFi for the first time

  • Kaszek, a Latin American venture firm, has recently entered the DeFi space. Kaszek is a venture capital firm founded in 2011 by Hernan Kazah and Nicolas Szekasy that invests in high-impact technology-based companies. The firm is industry and stage agnostic, focusing on Seed, Series A, and Series B investments.

    According to this Crunchbase company profile, it provides first-hand expertise and insights in strategy, operational execution, team-building, growth, technology, product, networking, fundraising, and more, in addition to capital. This leading venture firm has a local presence in a number of cities throughout Latin America, with its headquarters in So Paulo.

    Specifically Enters DeFi Space

    Exactly is a new company founded in June 2021 by Gabriel Gruber and Lucas Lain. “On Ethereum, Exactly is developing an open-source, non-custodial protocol that will provide fixed-income solutions for lenders and borrowers. According to the company’s website, “while the team’s short-term focus is to bring fixed income solutions to DeFi, the team’s long-term vision is to connect DeFi to the legacy financial world.” “By connecting the global credit market to DeFi, traditional players could gain access to a liquid and transparent ecosystem that would benefit consumers, businesses, and investors on a global scale.”

    Kaszek’s $3 million investment in

    Kaszek recently led a $3 million round in Exactly, its first decentralized finance (DeFi) investment. Hernán Kazah, co-founder and Managing Partner of Kaszek, stated, “We see a massive emerging opportunity in DeFi, which will change the financial landscape in unimaginable ways in the years to come.”

    We consider ourselves extremely fortunate to be able to collaborate with such a great team that has already demonstrated excellent execution and vision in previous ventures, and in what we believe could be a transformational venture.” He also stated that the investment is part of a $1 billion fund that they recently raised.

    This is the firm’s second investment in the cryptocurrency ecosystem. In December 2020, the firm co-led a $62 million Series B round in Mexican exchange Bitso with QED, and in May, it joined a $250 million C round in Bitso.

    According to the company’s blog post, Gabriel Gruber, the CEO of Exactly, also stated, “This funding round will help us continue to build a world-class team.” Today, we are focused on developing a new type of fixed income protocol with the help of outstanding DeFi and VC investors, as well as the Ethereum community as a whole. The next challenge will be even more difficult, as we intend to integrate DeFi with the legacy financial system. To be successful, we must provide fixed rates and an exceptional experience to the world’s Alices and Bobs. We can currently add value to a few hundred thousand DeFi users, but the world has 8 billion people to serve, and we are eager to take advantage of this massive opportunity.”

    Other People Who Have Invested in Exactly

    6th Man Ventures, Baires DAO, 11–11 DG partners, Newtopia VC, NXTP Ventures, and Sur Ventures are among the other investors who participated in the round led by Kaszek. Angel investors such as Esteban Ordano (Decentraland), JP Thieriot (Uphold), Ariel Barmat (The Graph), Matias Woloski (Auth0), and Marcos Galperin (MercadoLibre) also joined the round.

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