Fernando Pontaza, Co-Founder of Invariantes sits down with David Weisburd to discuss setting up the first Guatemalan Venture Capital Fund and why he targets a 25% IRR. We’re proudly sponsored by Bidav Insurance Group, visit lux-str.com if you’re ready to level up your insurance plans.

(0:00) Episode Preview

(1:25) The genesis of Invariantes, the first Guatemalan venture fund

(3:11) The fund strategy

(5:19) How Fernando won over Latin American investors

(6:57) Powerlaw distributions and how they impact returns

(8:36) Episode Sponsor: Bidav Insurance Group

(9:48) The importance of smoothing out returns

(10:55) What to look for in a fund manager

(12:30) How to build LP/GP relationships

(14:47) Common mistakes when investing in emerging managers

(18:46) Diligencing co-investments

(21:58) Is signal important?

(23:30) The importance of open communication

(24:57) The purpose of the LPAC

(25:41) Best practices when fundraising in Latin America

(28:02) The dangers of direct deals

(33:58) How to reach Fernando