The GridX II regional fund, a biotechnology startup fund, will receive a 3 million dollars investment from the innovation laboratory of the Inter-American Development Bank, IDB Lab. The fund’s objective is to promote the creation and development of science-based ventures and with a special focus on biotechnology, and betting on solutions to environmental, inequity and health issues in the region.

Grid X, a deeptech investment fund, is looking to expand into Latin America from its initial focus on Argentina, as well as significantly increase its portfolio startups and follow-on investments in the most promising companies. About half of its portfolio is expected to focus on companies tackling issues related to climate change and the other half on those focused on health issues.

The GridX II investment model is intended to act as a bridge between scientists and entrepreneurs so that they jointly create and invest in science-based companies.