DGGF and Salkantay Exponential Fund: Celebrating Two Years of Impactful Collaboration
Since September 2022, the Dutch Good Growth Fund (DGGF) – Financing local SMEs has been in partnership with Salkantay Exponential Fund (Salkantay) to spur growth and innovation within the SME sector in Peru and Colombia. Salkantay primarily aims to invest in startups committed to improving quality of life through innovative solutions in the education and health sectors. As this collaboration reaches its two-year anniversary, it's an opportune moment to reflect on the successful milestones achieved.
Spotlight on SME Success Stories
Over the past two years, Salkantay has not only achieved substantial progress but has also catalyzed additional venture capital investments in the region. The fund provides crucial capital to seed-stage entrepreneurs addressing major regional challenges. Leveraging increased digital connectivity and technological advancements, these entrepreneurs have been able to expand their operations and create significant employment opportunities, particularly for the youth.
- Aprendre Institute: A tech-enabled vocational institute catering to Latin Americans and Hispanics in the US, offering over 30 courses across six schools. These include entrepreneurship, gastronomy, wellness, trade skills, and beauty & fashion. Aprendre's innovative approach incorporates interactive videos, practical activities, and live classes, addressing the critical need for vocational and trade skills in the region.
- Cultivo: A project originator platform specializing in natural capital projects, playing a crucial role in ecological restoration, carbon sequestration, and expanding natural capital through innovative projects and software solutions. Cultivo's efforts are vital in addressing the global challenge of natural resource degradation and meeting CO2 reduction requirements through nature-based solutions.
- Prestamype: The largest lending fintech for micro and small enterprises in Peru, offering a range of financial products including mortgage-backed working capital loans and digital factoring. Their ecosystem supports underserved businesses and aims to lead the financial market for MSEs in Peru and the region, addressing the inefficiencies faced by SMEs in accessing financing.
Enhancing Gender Lens Investing at Salkantay Exponential Fund
Since partnering with Value for Women and receiving support from DGGF, Salkantay has seen encouraging signs of progress in integrating a gender focus into their investment process. Although still in the early stages, the feedback from the portfolio companies involved in the initial phase has been positive. These companies have recognized the value of discussions on gender inclusivity, which have enabled them to pinpoint and tackle previously unnoticed areas in their business operations and customer interactions.
Looking ahead, Salkantay is committed to deepening its impact in this area. They plan to enhance their expertise and capabilities to better support their portfolio companies in becoming more gender forward. This includes receiving additional technical assistance from DGGF to provide more comprehensive support. Their goal is not only to close the gender funding gap but also to catalyze systemic change within the ecosystem. They aim to foster a more inclusive and equal landscape across the region, positioning themselves as a leader in gender lens investing in the Andean region. In addition to their external efforts, Salkantay is dedicated to embodying these values within their own organization. They are focused on increasing female representation in decision-making roles within their fund, ensuring that their team reflects the diversity and inclusivity they strive to promote in the broader market. Recently, Lucia Montalvo Castro has been made Partner, demonstrating their commitment to making their organization also more gender balanced on all levels.
Through these initiatives, supported by DGGF, Salkantay is not just investing in businesses but is actively participating in the creation of a more equitable and prosperous future for all stakeholders in the Latin American entrepreneurial ecosystem.
