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Chilean starters received $ 11.175 million through angel investors' networks over the last decade




The Chilean company, which was stolen in 2018, was a home delivery to supermarkets for many Cornershop applications, which Walmart received for about $ 225 million.

At the outset, Cornershop founders increased funding through Angel Networks and later some investment funds, all of whom are foreigners, particularly from the United States and Mexico.

In addition to being a successful company, there are hundreds of other venture capital firms in Chile that are getting funding through angel investors' networks in the early stages. At the local level, this type of network works through grants they receive from Corfo to finance their operations, and then attract resources from investors and manage them in venture capital firms and charge a commission for this service.

According to data obtained from Corfo through the Transparency Act, it has gained 12 networks of angel investors in the amount of $ 2.212 million in state subsidies from 2008 to 2018, but only nine times managed to invest in businesses. During this period, it received over 96 projects or startups through a network of 11 175 million USD.

In other words, investment management multiplied by 4,5 times the subsidy.

Networks

The network that managed the most sources of venture capital investors in this period was Broota's investment and fund investing platform: $ 2,150 million in 17 projects, although it received a corporation grant just two years ago, earning $ 200 million.

The second place was the southern angels, connected with Adolfo Ibáñez University, which included $ 1,970 million in four projects. At that time, the state unit provided them with $ 50 million.

And third place was awarded Chile Global Angels (now Chile Global Ventures), associated with the Fundación Chile, which announced a total investment of more than 1870 million dollars in 25 projects. Meanwhile, Corfo has provided him with a $ 439 million grant.

On the contrary, there are three networks that could not manage resources for startups: Santiago Angels, which received a $ 80 million grant, FEN Ventures ($ 79.8 million), and the National Chamber of Commerce. Electronic Investment Platform "($ 79.9 million).

"With regard to the Corfo subsidy, it is important that the networks are able to multiply it," said José Antonio Berríos, founder and CEO of Broota. He added that "investments made in networks in new businesses are very low, nearly $ 3 million a year, and the challenge we have is to get more successful stories and investors to make money in order to attract more investment"

Venture capital companies

Venture capital companies that have earned funds through the networks of angel investors excel in Orionx, a platform that exchanges cryptoculture, and which, together with Budou and CryptoMarket, faces banks in the Office of Defense for Free Competition after they close their accounts. This company received $ 40 million from 2017 to 2018.

The startup that earned the most money was Super, an application similar to Cornershop, which exceeds $ 446 million.

Other businesses include Pago Fácil, SolarChile, Mestra Beer, Capitalise and Weeshing.


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