Ana Paula González, Softbank | Miami as the Bridge Between LatAm and the US, and Impact Investing [Ep. 54]

The audio and video are in Spanish. These notes are a translation.

For decades, Silicon Valley was the world capital of the startup and venture capital ecosystem. However, with the pandemic, San Francisco’s “monopoly” on capital and influence weakened, and it made room for other startup ecosystems, such as Miami, to start growing at an accelerated pace. In the last two years, more startups and emblematic venture capital funds decided to open operations in Miami. One of those was SoftBank.

Today, we spoke with Ana Paula González, who leads the Miami initiative for SoftBank, about the growth of the city’s startup ecosystem in recent years, how it has become a bridge between Latin America and the United States, and the commercial opportunities it offers for Latin American entrepreneurs.

SoftBank is the international venture capital fund that has allocated the most money to startups in Latin America and, to date, has invested more than USD $250 million in Latin American companies with offices in Miami such as Kushki, Betterfly, and Ontop.

Ana Paula also told us how her way of thinking about impact investing has evolved, after moving from an impact-focused fund, such as New Ventures, to other venture capital funds specialized in technology, such as SoftBank.

What You Can Learn Today

• Opportunities to start a company and raise capital in Miami
• Strategies for building a startup ecosystem
• SoftBank’s initiative in Miami and its impact on LatAm startups

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Youtube Timestamps*

Intro to SoftBank and Miami

• [1:41] - How did Ana Paula get into the world of startups?
  • She started her career in consulting
  • She discovered the world of venture capital during her MBA
  • She was part of New Ventures México
• [3:02] - SoftBank’s impact in Latin America
  • Transformation through technology
  • Entrepreneurial mindset
  • Initiative led by Marcelo Claure
• [5:37] - Significant changes in Miami’s startup ecosystem
  • COVID allowed the exponential development of the ecosystem
  • Relationship-building and remote connections
  • Arrival of important investors in Miami
  • Energy to develop a new ecosystem
• [12:26] - Interest in Miami from funds such as SoftBank
  • A multicultural ecosystem with a lot of talent and capital
  • Projection toward the global market
  • Launch of the SoftBank Miami Initiative in 2021
  • Development of infrastructure for starting companies

SoftBank Miami as a Bridge Between LatAm and the U.S.

• [18:27] - SoftBank initiatives to strengthen the Miami-LatAm connection
  • Investment in Latin American startups that have offices in Miami
  • A bet on talent from Latin America
  • A link between the best of the United States and the best of LatAm
• [21:58] - Opportunities for founders in Miami
  • Ease of leading operations in various countries
  • More sophisticated capital raising
  • Talent with the capabilities to expand the market
• [24:35] - Appeal of the startup ecosystem
  • San Francisco funds open offices in Miami to invest in LatAm
  • Miami is becoming a very attractive ecosystem for Latin American founders
• [27:52] - Angel investor network in Miami
  • It is not as developed as it should be
  • Comparison between angel communities
  • Miami Angels as a standout institution

Ecosystem Investment and Impact Investing

• [30:53] - Strategies for building a startup ecosystem
  • Access to capital, talent, and markets
  • Community building
  • Role of government, funds, and accelerators
• [34:50] - Developing community remotely
  • Emphasis on personal connection
  • Importance of networking
• [37:37] - Change in Ana Paula’s mindset as an investor
  • Impact with a technology component
  • Focus on scalability and market opportunity
• [41:09] - Factors that influence an investment decision
  • Fit between team, product, and market
  • The team is the most important thing
  • When you see a very good team, you simply know it
• [44:07] - Developing solutions for the segments most in need
  • A robust ecosystem
  • Solving simple problems, before moving on to the complex ones

Tweet Round

• [46:50] -
  • Recommended book: Thinking in Systems, by Donella Meadows
  • Changes in the Latin American startup ecosystem: keep thinking big, betting on a global impact
  • Founder to interview: Andrea Campos, of Yana

Episode Mentions

You can find Ana Paula on LinkedIn and Twitter

Recommended book: Thinking in Systems, by Donella Meadows

Founders to interview: Andrea Campos, of Yana (Listen to the episode with Andrea here)

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