By Narayan Ammachchi
Silicon Valley venture capital fund Emergence Capital Partners has agreed to invest $5.4 million in Quasar Ventures, asking the Latin American start-up builder to use the money for establishing ten global technology companies over the next four years.
Quasar hopes to build technology start-ups offering seed capital, a robust business model as well as an access to its global network of companies. (Quasar backers includes top executives from well known Latin American innovator, Globant.)
“Quasar is neither an investment fund nor an incubator. We are an experienced group of entrepreneurs with the mission of building groundbreaking and successful technology companies by bringing together robust business models and talented entrepreneur teams,” said Quasar Ventures founder and CEO Pablo Simon Casarino in a press release.
Quasar Ventures has developed a concept called “parallel entrepreneurship” that identifies promising business models and then finds entrepreneurs to implement them.
The start-up builder says its entrepreneur must possess unique personal and professional skills and should be ambitious, creative and an extraordinary leader.
“Having worked with members of the Quasar team for over 15 years, we are convinced that Quasar’s entrepreneurship model is the most robust option for building groundbreaking and successful technology companies in Latin America,” commented Emergence Capital Partners Principal Santiago Subotovsky.
Quasar Ventures is a technology company builder launched by former Officenet executives Andy Freire, Santiago Bilinkis and Pablo Simon Casarino.
Other investors in Quasar Ventures include Peter Kellner, Martin Migoya and Guibert Englebienne, Alejandro Tamer and Roby Souviron, CAP Ventures, Wenceslao Casares and Micky Malka, Alex Mendez and Silvia Torres Carbonell.