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Genesis Ventures Fund is an Early Stage Fund focussed on companies with innovative and technological skills
Genesis Ventures the General Partner, manages Genesis Ventures Investment Fund I (Genesis Ventures I).
Genesis Ventures I was launched on April 2013 and has a 10-year lifespan (with a potential extension of 2 years) and targets a maximum fund size of US$24 million, of which US$8 million is being contributed by Limited Equity Partners (LPs) and US$16 million from CORFO, the Government Sponsored Economic Development Agency.
CORFO’s credit line can be raised from 2:1 to 3:1 subject to specific milestones. Thus, the total Fund capacity could raised up to US$32 million. The main goal has been to set up a hands on investment and development fund of early stage tech startups with innovative and technological skills, with scalable models to developed economies like USA, UK, Europe and others.
Its main goal is to take companies and scale them globally through its wide business network, throughout an active participation, leading to successful returns expected between 2x to 2.5x capital invested over a (average) 5-year holding period. Genesis Ventures I has already deployed capital in six early stage startups, Bolsas Reutilizables, Outback Steakhouse, Sosafe, Predictable Media, Amipass and Wenuwork. LP and GP committed $8.323M; while Corfo committed $16.64M; thus total AUM are $24.96M.
Capital being deployed until now achieved $15.00M; while current fair market value reached $24.56M, therefore realized and unrealized returns account for $7.20M with actual investor returns (IRR) of 22.43%.