ALIVE Ventures
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ALIVE is the real deal in Latin American impact investing - they're not just checking ESG boxes but actually measuring impact with 60 Decibels and have legitimate track record with companies like Crehana (which reached millions of users). The Acumen connection gives them serious credibility and operational support that most regional funds lack. Santiago and Virgilio are seasoned operators who've been in the trenches, not former consultants playing impact investor. They're refreshingly transparent about their 28.9% IRR on Fund I and actually follow through on the gender lens investing (not just lip service). The downside? They're hyper-focused on impact metrics which can slow decision-making, and their Colombian/Peruvian focus might feel limiting if you're building across broader LATAM. But if your startup genuinely serves low-income populations and you want investors who'll roll up their sleeves post-investment, these guys get it.
- —Best for: Impact-driven B2B/fintech startups serving low-income LATAM populations
- —Known for: Deep impact measurement, hands-on support, and legitimate track record
- —Watch out for: Longer decision cycles due to impact diligence requirements
ALIVE invests in high-growth companies that are leveraging technology and/or other game-changing innovations to address economic inequality and transform the lives of low-income communities across Latin America. Their thesis centers on providing critical growth capital to innovative, high-impact, scalable businesses that address challenges faced by low-income communities.
ALIVE has made 7 investments in Seed stage and 6 investments in Series A stage, focusing on Enterprise Applications, Consumer, Financial Services, FinTech and Vertical SaaS, having invested in 9 Tech companies, 8 Enterprise (B2B) companies, and 6 Consumer (B2C) companies. Most investments have been in Colombia (8), followed by the United States (2).
Santiago is co-founder and Managing Partner at ALIVE Ventures. Previous to ALIVE, Santiago was an Investment Manager at Bamboo Capital Partners where he was responsible for identifying, structuring and managing investments in Latin America. Before joining Bamboo Santiago worked in London for the global private equity fund ACTIS, where he was focused on monitoring and structuring investments in the energy sector in Africa and Latin America. Santiago has an MBA from the University of Oxford and a Master's Degree in Poverty Reduction and Development from the University of Birmingham.
Virgilio is co-founder and Managing Partner at ALIVE. Additionally, Virgilio is the Latin America Director at Acumen, a global impact investment fund. Virgilio received a Bachelor degree from Harvard College and a Master of Business Administration from Massachusetts Institute of Technology. Previously, Virgilio was a Latin America Director at Acumen Fund and also held positions at The Social Investment Bank and IFC International Finance.
ALIVE announced the promotion of Maria Pia Morante from Investment Director to Partner. ALIVE's first hire nearly nine years ago, Maria Pia has played a central role in shaping the firm's investment strategy, leading transactions across multiple sectors, and strengthening its impact, gender, and climate frameworks. Maria Pia has an MBA from Duke University and a bachelor's degree in Economics and Finance from Universidad de Piura.
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