As part of its expansion across Latin America, Torq Ventures has launched its first regional office outside of Brazil.
Photo courtesy of Diario Financiero
Torq Ventures, the corporate venture arm of Puerto Rico-based financial services company Evertec, has launched an office in Chile as part of its plan to expand across Latin America.
The office will be located in the Las Condes district. The firm already has a local team in the region and plans to add two new executives.
“We understand that Chile is a market on the rise, with startups that are in a strong phase of maturity – especially in payments. It has an important innovation ecosystem, with a mix of parameters and is a great opportunity for us,” said Juliana Innecco, the head of Torq Ventures, in a press statement.
Torq Ventures plans to invest in Chilean startups in the region, though the number of companies they will back and the investment ticket size has not been disclosed. The firm seeks to invest in seed to series A startups in the region.
Torq Ventures was founded in 2018 under the control of Brazil-based software solutions provider Siniqa. Siniqa later merged with Evertec in 2023, which took control of the corporate venture firm’s strategy and plans to expand the business throughout the region.
The unit invests in startups focusing on fintech, AI and early-stage cybersecurity. Companies in its portfolio include Brazilian fintech firm Celcoin, which raised $31m in funding. Torq aims to support startups in more mature stages with a ticket size of $5m in Brazil.
