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# Upload Ventures seeks $250M for Latin America-focused growth-stage fund
- URL: https://www.techloy.com/upload-ventures-250m-latam-fund/
- Published: 2023-03-09T17:23:04.000Z
- Updated: 2023-03-09T17:23:04.000Z
- Author: Acquah Nana Yeboah
- Tags: / Money, Tech in Latin America

[Upload Ventures](https://www.upload.ventures/), the Latin American-focused investment firm spun out of SoftBank’s investment arm less than a year ago, is looking to raise a $250 million fund, according to regulatory filings.

The Mexico- and Brazil-focused firm has already secured an anchor investor, with Brazilian telecoms business TIM committing to investing $50 million in the growth-stage focused fund over the next two years.

The new fund will focus on late-stage investments, an area that has been hit hard by the downturn in Latin America. Late-stage funding in the region [declined by 93% in Q3 2022](https://www.techloy.com/venture-funding-in-latin-america-falls-79-percent-in-2022/) compared to the previous year, with just three of the 290 investors focused on late-stage rounds in 2021 still active in Q3 2022.

[📊 Venture funding in Latin America fell 79% in 2022In 2022, venture funding in Latin America took a significant hit, as venture volume sank almost 60% from the previous year in the wake of a sharp shift in the startup funding climate. Per Crunchbase data, investor funding sat at $8.28 billion in the region in 2022, down 58%![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/size/w256h256/2021/07/techloy-dot.png)TechloyEmmanuel Oyedeji![](https://images.unsplash.com/photo-1554672723-d42a16e533db?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDgyfHxWZW50dXJlJTIwZnVuZGluZ3xlbnwwfHx8fDE2NzQ1Njc4Mzg&ixlib=rb-4.0.3&q=80&w=2000)](https://www.techloy.com/venture-funding-in-latin-america-falls-79-percent-in-2022/)

This lack of available growth capital presents an opportunity for Upload Ventures, which has expanded its investment capabilities from an initial focus on early-stage investments.

The firm was co-founded by Rodrigo Baer and Marco Camhaji, who left SoftBank to focus on early-stage investments. The expanded capabilities will be executed by partners Mario Moraes and Carlos Simonsen. The team is now 13 people, including new venture partner Norberto Giangrande.