Chile-based venture firm InverSur Capital has become the manager of the Amérigo Chile Early Stage & Growth fund, backed by Spain-based telecoms group Telefónica and the Chilean government. The fund has initially raised $30m and said it plans to raise up to $50m. The group’s executives include Oliver Flögel, previously the Chilean government’s secretary of digital development. Before that role he was general manager of Telefónica between 2003 and 2010.  Flögel’s partners are Nils Galdo, co-founder of ChileGlobal Angels where Flögel is also a director, and Rodrigo Albagli, managing partner of AlbagliZaliasnik. In September Telefónica launched Amérigo as a €300m ($377m) network of venture capital funds. Along with Chile, the fund is focused on Spain, Colombia, Chile, and Brazil. The governments of all four starting countries back the fund.

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