In 2011, NXTP Labs, Latin America’s first regional accelerator, was founded by four Argentines — all successful entrepreneurs in their own right — as a way of supporting other ambitious would – be entrepreneurs who were just starting out. The firm makes $25,000 investments (and larger follow – on investments) in the region’s promising start – ups, and provides mentoring and advice to their entrepreneurs, as well as connections to a strong regional network.
The founders raised the fund’s first $2.5 million from their extensive personal networks, which also provided 80 mentors to support the program’s entrepreneurs. In its first 18 months, NXTP Labs graduated 50 start – ups from its program and achieved its first exit. The firm leveraged this early experience to raise additional capital for the fund in 2013, anchored by a $5 million investment from the Inter-American Development Bank’s Multilateral Investment Fund (MIF). By September 2015, NXTP had closed the fund at approximately $38.5 million.