The innovation laboratory of the Inter-American Development Bank (IDB Lab) has invested in the Monashees X fund to promote the growth, consolidation and expansion of more than 30 technology startups in Latin America and the Caribbean (LAC).

Monashees is a Brazilian venture capital firm that has invested in more than 130 startups, 14 of which have reached a valuation of one billion dollars. So far, Monashees’ investments have been concentrated in Brazil, Mexico and Colombia.

The Monashees X fund will focus on LAC startups in large markets sectors with efficiency challenges, such as financial services, education, health, logistics, emerging technologies or solutions for small and medium-sized companies, among others.

The selected ventures will receive financing and support in identifying talent, designing their business strategy, expanding their operations to other countries in the region, attracting new sources of investment or implementing environmental, social or governance (ESG) aspects.