IADB To Fund Argentine Venture Capital

The Inter-American Development Bank’s (IADB) Multilateral Investment Fund has approved $5 million of financing for an equity investment fund in Argentina and a $100,000 technical assistance grant to support development of the venture capital industry. This follows a similar recent announcement of a $9 million investment by the MIF in Brazil’s venture capital industry. The financing in Argentina will be directed at TGLT Consultores Ventures, founded in 2004, to build one of the country’s first venture capital funds.