Kaszek Ventures is one of Latin America's largest and most influential technology venture capital firms. Founded in 2011 by Hernán Kazah and Nicolas Szekasy – both former executives at MercadoLibre – the firm set out to back the next generation of technology companies across the region. Kazah co-founded MercadoLibre and served as its COO; Szekasy served as CFO. Their operational experience building Latin America's dominant e-commerce marketplace gave Kaszek a distinct edge in evaluating consumer and fintech businesses.
Headquartered in São Paulo with offices in Buenos Aires, Kaszek focuses primarily on Latin America, spanning fintech, healthtech, edtech, and increasingly digital assets. The firm has raised multiple funds since inception, with total committed capital estimated above $3 billion across successive vehicles – including a $1 billion-plus fund closed in 2021 that drew significant institutional LP interest from North America and Europe. Exact current AUM figures are not publicly disclosed.
Kaszek typically leads seed through Series B rounds, taking board seats and providing hands-on operational support. The "12 portfolio / 7 lead" figure referenced in its public profile reflects its crypto and blockchain-specific book, a relatively focused slice of a broader portfolio spanning more than 100 technology companies across the region.
Notable investments
- Nubank – Brazilian digital bank; Kaszek was an early backer. Nubank listed on the NYSE in December 2021 at a valuation of approximately $41 billion, making it one of the largest fintech IPOs in history and Kaszek's most significant realized return to date.
- Bitso – Mexico's leading crypto exchange. Kaszek participated in Bitso's funding rounds as the exchange expanded across Mexico, Argentina, and Brazil.
- 2TM / Mercado Bitcoin – Brazil's largest crypto exchange group. Kaszek backed 2TM during its rapid growth phase before the 2022 market downturn significantly affected the company's valuation and headcount.
- QuintoAndar – Brazilian proptech platform; a leading non-crypto investment illustrating Kaszek's broad regional mandate.
- Rappi – Colombian super-app and on-demand delivery platform; another flagship portfolio company demonstrating Kaszek's early conviction in Latin American consumer internet.
- Creditas – Brazilian secured lending fintech backed across multiple rounds.
- Kavak – Mexican used-car marketplace that reached unicorn status with Kaszek participation.
Team
Hernán Kazah (Managing Partner) co-founded MercadoLibre in 1999 and built it into the region's dominant marketplace before turning to venture capital. Nicolas Szekasy (Managing Partner) managed MercadoLibre's finances through its Nasdaq IPO in 2007 and subsequent growth years. The two partners have remained actively involved in sourcing and board work. Kaszek has expanded its investment team over the years, though the firm keeps a deliberately lean partnership structure. Public information on other named partners is limited beyond general team references on the firm's website at kaszek.com.
Recent activity
In the 2023–2025 period Kaszek maintained a cautious deployment pace consistent with broader venture market conditions. The firm continued to support existing portfolio companies through bridge rounds rather than aggressively pursuing new commitments at peak 2021 valuations. Its crypto-adjacent holdings were tested by the 2022 bear market – 2TM/Mercado Bitcoin underwent significant restructuring and workforce reductions, representing a notable mark-down in Kaszek's digital assets book. Bitso fared better operationally, retaining user growth in Mexico. More broadly, Kaszek has referenced Latin American fintech infrastructure – payments rails, remittances corridors, and stablecoin settlement – as areas of continued interest as the regional regulatory environment matures. See Crunchbase profile for a full deal log.
Kaszek remains a benchmark institution for venture capital in Latin America. Its core thesis – that the region's large underbanked population and accelerating smartphone adoption create durable tailwinds for technology companies – has been validated by Nubank's public market success. For crypto specifically, the firm's track record is more mixed: early Bitso conviction looks well-placed, while the 2TM investment reflects how quickly sentiment and valuations shifted in 2022. Future fund activity will likely remain anchored in fintech infrastructure with selective exposure to digital assets where regulatory clarity in Brazil and Mexico continues to improve.