[liberationtech] investing in liberation tech

[J.M. Porup]

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On 11/11/14 09:36, Andrés Leopoldo Pacheco Sanfuentes wrote:
> what I'd be interested to know regarding "angel investors" and
> Chile, is exactly what is meant by this statement in the website
> originally referenced in the email starting this thread:
> 
> " We can achieve 7:1 leverage"
> 
> I was aware of the blank check totalling USD 12M the Chilean
> government gives to "angels."

CORFO has a new program that offers a 3:1 low-interest loan to
startups that angels invest in. (e.g. I invest $50k, they match with a
$150k loan.) This program goes online Dec 1. Further, the new program
offers US $350k per year for fund administration, mentoring, travel,
etc. That makes 5:1. Our lead investors are talking about additional
financing (including equity crowdfunding) that brings leverage to 7:1.

Bottom line: the Chilean government wants to encourage a vibrant,
international startup ecosystem, and are prepared to offer angels
major financial incentives to develop that ecosystem.

Note that, whilst this program only applies to early-stage Chilean
startups, pretty much anyone can move to Santiago, incorporate in 24
hours, and call themselves a Chilean startup. The program is less
focused on developing Chilean-owned businesses as it is focused on
cementing Santiago's position as the high-tech startup capital of
Spanish-speaking Latin America.

The angel fund is in early stages still, those interested in investing
(or applying for funding, up to $250k) can check us out at:

    LatAmStartups.biz

cheers
Jens

- --
Jens Porup, CDWDS (Chief Dude Who Does Stuff)
LatAm Startups Angel Funds
www.LatAmStartups.biz

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