From the pampas of Argentina, a startup ecosystem is starting to sprout. Quasar Ventures is a new “tech company builder” based in Buenos Aires that made its public debut today with $5.4 million in outside investment.
Quasar’s mission is to establish groundbreaking and successful technology companies in Latin America. It is taking an approach dubbed “parallel entrepreneurship”- Quasar comes up with ideas and business models, and then finds entrepreneurs to execute them. The fund supports the companies with seed financing, mentorship, and a professional network.
“It is because of these distinctive traits that Quasar is neither an investment fund nor an incubator,” said founder and CEO Pablo Simón Casarino. “We are an experienced group of entrepreneurs with the mission of building groundbreaking and successful technology companies by bringing together robust business models and talented entrepreneur teams.”
The goal is launch ten tech companies over the next four years. The three founders Casarino, Andy Freire, and Santiago Bilinkis formerly worked as executives at Officenet. They will apply their entrepreneurial expertise to finding promising leaders capable of building successful companies.
“Because human capital is a fundamental pillar, the ideal Quasar entrepreneur must have a cluster of unique personal and professional skills: he/she must be intellectually brilliant, ambitious, creative and an extraordinary leader,” the company said in a statement. “Quasar plans to find entrepreneurs with an edge who are able to produce a dramatic global impact as leaders of the ten companies that will be built in partnership with the firm in the coming years.”
Silicon Valley venture firm Emergence Capital Partners helped fund Quasar, as well as a series of Latin American angel investors and strategic partners. Read the press release.