ALIVE Ventures announces final close of USD 55M fund to scale inclusive growth and climate resilience in Latin America, with new commitments from Proparco, Impact Fund Denmark and FMO
- Feb 25
- 3 min read
ALIVE Ventures announced the final close of its second impact investment fund (ALEG II) at USD 55 million, marking a significant milestone in the firm’s growth as the largest impact and venture capital fund manager across the Andean region with over US$80M in assets under management.
The ALEG II fund has attracted commitments from leading international institutional investors including Proparco, FMO the Dutch entrepreneurial development bank, Impact Fund Denmark, the Dutch Good Growth Fund (managed by PwC and Triple Jump), MacArthur Foundation and Acumen, as well as leading regional and local investors such as Bancoldex, Cofide, Fondo de Fondos / Sonen, Fundación Bancolombia, and Fundación WWB Colombia.
The final close reflects ALIVE’s strong track record of deploying capital to scalable and profitable companies that address inequality across the region.
Santiago Álvarez, co-founder and Managing Partner of ALIVE Ventures, said: “This USD 55 million final close reflects strong investor interest in our locally anchored approach and impact focus. Our portfolio companies have positively impacted more than 13 million lives to date, 52% of whom are vulnerable populations living on less than US$11 a day.”
Virgilio Barco, co-founder and Managing Partner of ALIVE Ventures added: “We are proud to welcome Proparco, FMO, and Impact Fund Denmark, whose commitments will accelerate inclusive growth and climate resilience across Latin America.”
Stanislas de la Rivière, Director of Proparco in the Andean Region, shared: "We are very proud to join the final close of ALEG II. This iconic investment — marking our first venture capital investment in Latin America — reflects our strong conviction in ALIVE’s locally anchored, impact-driven approach, which is key to scaling innovative solutions that address structural development challenges across Latam."
Maria Paulina Mogollon, Head of Venture Capital at Impact Fund Denmark, shared: “ALEG II is IFDK’s first investment in venture capital funds in Latin America. We are pleased to support ALIVE’s mission, where impact is at the core of the investment strategy. By providing long-term capital to scalable businesses, the ALEG II fund enables them to grow, create jobs and increase income opportunities for low-income communities.”
Lastly, Martijn Woudstra, Senior Investment Officer of FMO’s Private Equity Department, said: “ALEG II aligns strongly with the strategic objectives of Building Prospects (a fund of the Dutch government managed by FMO) by backing innovative, gender‑inclusive businesses that expand access to jobs, and promote private sector development. Its combined focus on climate resilience, inequality reduction, and tech‑enabled growth makes it a strategic investment to drive long‑term, sustainable economic impact.”
Alongside the fund’s final close, ALIVE announced a significant milestone for the organization, with the promotion of Maria Pia Morante from Investment Director to Partner. ALIVE’s first hire nearly nine years ago, Maria Pia has played a central role in shaping the firm’s investment strategy, leading transactions across multiple sectors, and strengthening its impact, gender, and climate frameworks.
ALIVE’s second fund invests in high-impact, profitable, and scalable companies serving underserved communities across Latin America, with a particular focus on the Andean Region. To date, the fund has already deployed over 50% of its capital and built a diversified portfolio of 11 investments across four impact themes: (i) sustainable income generation for SMEs, entrepreneurs, and small-scale farmers; (ii) climate resilience and adaptation; (iii) expanded access to essential goods and services; and (iv) improved access to quality education and pathways to formal employment.
Looking ahead, ALIVE will continue investing in high-performing startups across the region, combining active ownership with rigorous impact measurement to support sustainable growth, strengthen resilience, and deliver consistent financial performance alongside measurable social impact.
Communications Contact: Alan Pierce Impact & Knowledge Sharing Manager ALIVE Ventures Email: apierce@alive-ventures.com
About ALIVE: ALIVE Ventures is a new type of Latin American fund manager. A manager that places impact at centerstage. A manager that incorporates gender lens investing every step of the way. A manager that has built a climate smart investment approach to support communities prepare for, respond to, and recover from the effects of climate change. And finally, but equally important, a fund manager that seeks to provide attractive risk-adjusted returns to its investors. Learn more at www.alive-ventures.com