We invest in pre-seed, seed and early Series A startups originating in Latin America and Israel. We support founders with our network, operating expertise and strategic co-investors from day one.
We're a group of professionals who, after long corporate careers building businesses across Argentina and LatAm, put our expertise and network to work for the startup ecosystem.
We're passionate about new technologies and the disruption they bring to business verticals. We enjoy coaching teams that aim to break the incumbents' paradigms.
"We help founders execute fast so they can validate technologies and business models."
Nine years ago we started representing Israeli companies in the region, helping them validate technologies, business models and generate revenues. That gave us a unique edge when investing: knowing the founders from the inside.
In a second stage we started exploring the LatAm ecosystem. Today we have 16 investments completed (12 in LatAm and 4 in Israel). All startups remain active and have raised follow-on rounds at higher valuations.
More than 70 co-investors from Argentina, Spain, the US, Israel and Panama back us. This lets us write larger tickets, secure better rights, and run sharper diligence in verticals where they have expertise.
The traditional VC model bets on a couple of companies with very high multiples — 10x, 50x, 100x — that absorb the many that fall along the way. Our approach is different: a focused portfolio, individual thesis per company and active support from the board. Each investment has to stand on its own and return a minimum of 5x, without depending on one winner to carry the portfolio.
| Stage | Ticket size | Round size | Valuation | Profile |
|---|---|---|---|---|
| Pre-seed | < US$ 250K | < US$ 1M | < US$ 3M | Clear problem and solution. TAM > US$ 1B. |
| Seed | < US$ 500K | < US$ 3M | < US$ 10M | POCs completed, revenue or LOIs in execution. |
| Series A | < US$ 2M | < US$ 10M | < US$ 30M | Validated model, targeting LatAm + USA or Europe. |
We analyze the deal with investor discipline: structure, alignment and returns.
Technical skills, soft skills, character, track record, commitment, resilience and enthusiasm. We want talented and open people, willing to listen.
Total addressable market, competition, barriers to entry, potential for patents and IP, scalability and geographic expansion.
Clear runway, estimated time to next round and well-defined use of proceeds. Sound legal structure of incorporation.
We support founders from the Board or Strategic Board in defining and implementing the business model — that is where technical founders typically struggle most.
Our mission is to take them to the next level, until the technology and business model are validated and start generating revenues. Growth is left to the next stage with specialized funds.
We help with the capital-raising strategy and usually take full or partial responsibility for the fundraising of the next round.
Direct contact with incubators, accelerators and funds that share dealflow from the rounds they lead. Personal contacts embedded in the ecosystem.
Allied funds, incubators, demo days we attend, and startups referred by other portfolio companies.
16 active investments in LatAm and Israel. Biotech, agrotech, deep tech, fintech, SaaS and energy.
Executives with long corporate careers in technology, telecommunications, retail, finance and industry across Argentina and LatAm.
If you are building a pre-seed, seed or early Series A startup in LatAm or Israel, send us your deck and let us talk.
info@dragonesvc.com →Buenos Aires · Tel Aviv
