AECID invests €25M in Mundi Ventures
The investment will be directed towards selecting technology startups that provide innovativesolutions for the insurance sector.
The AgenciaEspañola de Cooperación Internacional para el Desarrollo (AECID),through its Fondo para la Promoción del Desarrollo(FONPRODE), with the support of COFIDESas a financial advisor, will invest 25 million euros in the management firmMundi Ventures. With this investment, Mundi Ventures will primarily focus onselecting tech start-ups in the insurtech sector and, eventually, in adjacentsectors that have an impact on the improvement and digitalization of theinsurance sector. FONPRODE has approved this investment to contribute tosustainable development and the fight against poverty in Latin America, apriority region for the Cooperación Española and a region where Mundi Venturesalready has investments and investors.
This agreement reflects a shared commitment toleveraging financial resources and technological innovation to address regionalchallenges and create new growth opportunities. Through this collaboration,Mundi Ventures and AECID/COFIDES aim to create a positive and lasting impact onlocal economies, improve access to critical services, and support thedevelopment of resilient communities.
This operation will also result in thecontinued internationalization of Mundi Ventures, which invests across Europe,the United States, Asia, and Latin America. Mundi Ventures manages 500 millioneuros in assets and has an international team of nearly 25 people from 17different nationalities, a unique case in the world of venture capital incontinental Europe, where management firms are predominantly national.
Mundi Ventures has demonstrated its commitmentto impactful investments in key sectors, such as investments in Submer inEurope and Raincoat in Latin America, focused on the climate sector. Similarly,it has supported socially impactful health-oriented companies like Cuideo inSpain and Sami in Brazil, focused on improving health outcomes. The managementfirm has backed over 60 companies in total, and in Latin America, where thesupport of the Cooperación Española is focused, Mundi Ventures has already investedin companies such as Betterfly, which now covers over one million lives withlife insurance through a wellness solution, Olé Life, focused on the lifeinsurance market, and Sami, which provides technologically-supported healthinsurance aimed at populations not yet covered by other insurance products.
Mundi Ventures has acquired extensive regionalexperience by investing globally, possessing a unique understanding of thediverse demographic needs of each region. In Europe, where populations areolder, the mission has been to improve existing technologies and enhance moreadvanced ones, contributing to longevity. In Latin America, where manypopulations are underserved by health insurance, the primary focus has been onpromoting inclusion and protection in order to close the protection gap. Thispartnership between the Cooperación Española and Mundi Ventures reflects thevital role of financial cooperation in achieving sustainable development goals.
About Mundi Ventures
Mundi Ventures is a global venture capital firm with approximately 500 million Eurosin assets under management, investing in early-stage and growth-stagetechnology companies. Mundi Ventures and its team have supported over 60 techcompanies worldwide, with the long-term goal of helping individuals,businesses, and society manage an increasingly risky world through technology.Their current funds focus on insurance-related technologies and startupscreated by (and serving) the global Spanish-speaking diaspora. Mundi Ventureshas invested in Wefox (Germany), Bolttech (Singapore), Betterfly (Chile), Job& Talent (Spain), and Shift Technologies (France), among other companies.
About AECID
AECID is the main management body of theCooperación Española and is oriented towards the fight against poverty andsustainable development. The agency promotes the full exercise of development,conceived as a fundamental human right, with the fight against poverty beingpart of the process of constructing this right. To this end, it follows theguidelines of the V Plan Director of the Cooperación Española, with attentionto cross-cutting elements: the human rights and fundamental freedoms-basedapproach, gender perspective, environmental quality, and respect for culturaldiversity; all in line with the 2030 Agenda for Sustainable Development. AECIDis attached to the Ministry of Foreign Affairs, European Union, and Cooperationthrough the State Secretariat for International Cooperation.
About COFIDES
COFIDES is a state-owned commercial companyspecialised in managing State funds that provides financing for privateinvestments to achieve various public policy objectives. For over threedecades, it has been managing resources aimed at supporting the internationalisationof Spanish companies, and since 2021, the FONREC. COFIDES has been assigned thedirect management of two new financial instruments: the Co-investment Fund(FOCO), to attract foreign investment to Spain in activities mainly linked togreen and digital transitions, and the Social Impact Fund, aimed at reinforcingthe national ecosystem of impact investment. Additionally, COFIDES supports theSpanish Agency for International Development Cooperation (AECID) in managingfinancial cooperation resources. The Spanish state owns 53% of the capital,while the remaining 47% is held by Banco Santander, Banco Bilbao VizcayaArgentaria (BBVA), Banco Sabadell, and the Development Bank of Latin Americaand the Caribbean (CAF).
Contact information:
Rafaela Andrade, Partner - rafaela@mundiventures.com
Javier Sanchez, Principal - javi@mundiventures.com
