The audio and video are in Spanish. These notes are a translation.
00:00 - The Origin of Vero Norte and the First Steps in Venture Capital
Felipe tells how he went from engineering and robotics to investing in technology, and how Vero Norte was born after he traveled through ecosystems such as Silicon Valley, Israel, and Brazil.
- What motivated him to focus on connecting global technology with Latin America?
- How did his academic and professional experience influence his investment thesis?
- Why did he decide to work with corporations as his first investors?
10:00 - Why the Silicon Valley Model Does Not Fit in LatAm
He analyzes the conditions required for venture capital to work, and the gaps in infrastructure, institutions, education, markets, and capital in the region.
- What factors limit the exponential growth of startups in Latin America?
- Why are the size and sophistication of the market key?
- How do limited exits and the lack of liquidity affect the ecosystem?
24:00 - Lessons from the Bubble and Foreign Capital
Felipe shares his view of the euphoria of recent years, inflated valuations, and the impact of international capital on a shallow market.
- What mistakes did investors and entrepreneurs make during the boom?
- How should valuation expectations be adjusted to local reality?
- What does it really mean to diversify in this kind of asset?
31:00 - The Role and Challenges of Corporate Venture in LatAm
He describes his experience creating corporate funds and how to align financial and strategic objectives in order to generate real value.
- What practices help connect startups with corporations in an effective way?
- Why is it key to separate the commercial relationship from the investment?
- What risks come with depending too much on a customer-investor?
46:00 - Current Strategy: Fund of Funds and Access to Global Technology
He explains how Vero Norte invests in top funds in the United States and connects its LPs with startups at the technology frontier.
- What are family offices and corporations looking for when they invest in Vero Norte?
- How do you bring Latin American investors closer to trends such as artificial intelligence and biotechnology?
- What additional services does a fund of funds offer in order to add value for its LPs?
55:00 - Advice for Business Families that Want Exposure to Technology
Felipe suggests how to learn about venture capital, how to structure a portfolio, and how to avoid common mistakes in direct investments.
- What is the best way to start investing in this asset?
- What role do education and access to global networks play?
- Why are patience and diversification important?
1:03:00 - Looking Toward the Future
He reflects on the role of venture capital as a front-row seat to innovation and the opportunities that are opening up in the years ahead.
- Which technological advances excite him the most?
- How do different trends intertwine to create new industries?
Episode Mentions
You can find Felipe on LinkedIn Discover More of the Startupeable Podcast
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Follow Enzo Cavalie on X: @enzocavalie.