2026.02.13
On January 7, the Japan International Cooperation Agency (JICA) signed a limited partnership agreement with the Valor Venture Partners V, L.P. (“Valor”), a venture fund manager with a focus on early-stage startups.
This project provides support, in collaboration with Valor, to startups that develop innovative business models and technologies capable of addressing social issues in Latin America and the Caribbean region that have not yet been resolved by public-sector institutions or private-sector incumbents. It is expected to collaborate with existing JICA startup support initiatives, such as the TSUBASA program, which assists Japanese startups in expanding into the region.
Valor’s team members together with Valor’s portfolio companies at Valor’s Annual Summit 2025
JICA is co-investing in this project with development financial institutions such as International Finance Cooperation (IFC), Inter-American Investment Corporation (IDB Invest) and other investors from the private sector including Credit Saison Co., Ltd.
- Investee
Valor Venture Fund V, L.P.
- Country (Target Areas)
Latin America and the Caribbean region
- Investment Amount
20 million USD
- Project Title
Project for Supporting Startup Acceleration
- Project Purpose
The Project aims to improve startups’ financial access and develop their products/services by investing in a venture capital fund, thereby contributing to developing the startup ecosystem and solving social issues in Latin America and the Caribbean Region.
- Project Component
By investing in Valor Venture Fund V, L.P., the Project will support early-stage startup investments, primarily at the Series A, in Latin America and the Caribbean Region.
- Contribution to SDGs
Goal 8（Decent work and economic growth）
Goal 9（Industry, innovation and infrastructure）
Goal 17（Partnerships for the goals）
- Reference
This investment is made under CORE, a co-financing framework with IDB Group:
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