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Hello emperenadores, welcome to one more
edition of Startupscoffit Tolks. Today we have

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in this great episode a great entrepreneur, a great investor and, above all,

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there is in that it has promoted
the high impact entrepreneurship in all Latin

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America, starting from Argentina and reaching
many more sides like Mexico. She'

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s very well known. She is
Marta Cruz, but before welcoming you,

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I would also like to thank all
of you that we are already reaching out

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to a larger number of subscribers,
this Coffit Torch startup channel, that along

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with Karina Rassik and together with Augusto
Nekini, we have done fantastic things like

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interviews with the one we have today
with Marta Cruz, welcome to Startups Copy

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Tolks. The first podcast designed by
the incubator and accelerator Stark Cuups and conducted

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by Alejandro Lómez. Our main objective
is to connect more entrepreneurs with the ecosystem

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of innovation and capital penture in Mexico, Latin America and Silicon Vale. As

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we enjoy a delicious cup of coffee
together, we begin Hello, Marta Cruz

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Welcome to Instagram podcast called Koffittolch,
where for me it is a huge taste

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to have people of your caliber where
we will talk about investments, finance,

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entrepreneurship, high impact, innovation from
Argentina to the world. Welcome, how

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are you, hello, how are
you Alejandro the carina Good. Thank you

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for giving me the space to talk
to you, but more than that,

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thank you for taking this issue and
continuing to build the investment entrepreneurship ecosystem for

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our region, which continues to need
it so much. Thank you, Marta,

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well look. First I also introduce
Carina razz and who joins us today

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as co host Qurina how you are
Hello. Very funny, I' ll

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play for being this podcast and a
pleasure of parco. Marta and I'

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m just going to give a little
review, because the review that Marta has

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is huge. She is a co- founder and managing partner of Next p

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Ventures, a venture capital firm that
invests in technology startup that produces a large

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- scale positive impact across Latin America. With a portfolio of over a hundred

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active startups Netflip and Ventures, it
has become the technology startup- focused investment

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fund that has only served and led
Latin America. He was also President of

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ARCAP, Argentina' s opening of
capital is, founder of LAC, the

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community of high impact entrepreneurs focused on
Latin America and co- founder of WIMBIEST,

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the community of impressionist women focused on
Latin America and the Caribbean. So,

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we just have to introduce Marta Brit
Hey, Marta, I wouldn'

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t like to do a deal outside
the podcast. We don' t talk

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about first where Marta Cruz comes from
how then, this fantastic world of entrepreneurship,

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innovation and investments that I am sincere
to you, it' s not

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very common to see women as active
as you. No. This ecosystem tell

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me where you come from, what
planet, why is it fantastic is it

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doing it today in this world,
well, from what planet? I don

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' t know what plans either.
But the reality is that when you have

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a clear goal, a high-
level goal, let' s say those

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that are, as they seem,
unattainable. Then they begin to present the

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opportunities so that they can fulfill it. No. And the reality that I

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never imagined when I was young to
be in this world, first I didn

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' t know it, but less
about finance. I was always a much

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more person of strategy, of generation, of business, much more to see

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how one could go to impact society
in different ways. Nothing very clear.

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No. My father told me to
do what you like to do the most,

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but whenever you do, make sure
you impact positively, even if it

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' s a person who will later
be a multiplier effect. With a very

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enterprising mother, when the word"
entrepreneur" did not exist the reality that

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in life led me to choose a
business career, i e, I am

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a graduate in administration, a career
that I left very quickly for a period.

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Let' s just say, I
made an impaz because I got married

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and had three children very quickly at
the age of twenty- four. I

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already had three kids that take a
year each, so when they were a

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little bit older, I resumed my
career and got very quickly, and that

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started all my professional development, so
I went from working at py Mes,

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like the case of an economics and
business magazine, which for me was basically

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a master' s degree the best- known and leading magazines at the time,

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in the 1990s than in Mercado magazine. There I understood very well what

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the business world was, the pH
B basically and the truth that MiguelÁngel

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Díaz, who was my mentor,
let me do everything so that I can

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deploy myself. And there, well, I understood the wonderful conjunction between technology

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and communication. How one could do
a lot of things from that. So,

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well, that was a great experience, because I had a ct that

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I was asking for certain things about
the subscribers database to make personalized communications and

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Marta told me, everything you think
with your head can be done with a

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system. So, it' s
all about silver and time, so to

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me he opened my head in that
world. So I said ah this has

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no limits. Communication and technology together
can generate a lot of projects and lots

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of advantages in the business world.
Then I moved in my forties, moved

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to an international company, to Macaneerrickson, to the interparliamentary group. It makes

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all the digital and technological transformation of
the group for Latin America. I was

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the regional director for ten years.
I worked there. I continued with the

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bhubí world with great brands, transforming
their communication into truly digital and technologically based.

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And well, like every ten years, I do something new Fifty-

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year- old grabbed me, just
as the attack said a new thing.

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I realized that in the corporation it
added less and less value and less impact

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both on the internal team level and
on the outside. He had a company

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there in Argentina, he had 250
people and then he was responsible for the

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rest of Mexico, Brazil, and
so on, all the Latin American countries.

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I said I am far from seeing
the impact that I can generate with

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my intervention. So that' s
where I decided to get together. I

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was invited by one of my current
partners to make our own Performance- oriented

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Digital Marketing Agency. So we started
with a really crazy project, which was

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that we wanted to charge for results
for fixed fees and the brands didn'

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t say look at me. If
it' s okay with you, I

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' ll hire you again. If
it goes wrong, we fire them,

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but I pay more because it goes
well, no, which we realized that

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that market did not understand very well
this thing about being a business partner of

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the other, but the startups understood
it. Then we began to make a

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sort of angel investment and incubation within
the same company. Today it would be

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called CORP for the BC or something, but at that time it wasn'

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t called that. The entrepreneurs came
looking for us, because well, we

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were making some investments angels with bisocio, Ariella Rieta. And the reality is,

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they also needed to test the business
model on the online channel to see

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who wanted it. Let' s
say download an application, use a software

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and we were experts in the coacho
markets in digital form. So we started

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doing a sort of shift of services
by equity and after investing in five or

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six and seven startup of that modeling
where we realized we were doing everything wrong.

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So in the year two thousand and
ten we decided to spin off.

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The agency continued to work with one
of the partners at the time, the

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creative director, who was also a
partner and Ariel and I moved to make

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NXTP, which at that time was
called in x Tippy Labs, which is,

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as you knew us, that was
a kind of laboratory where it aimed

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to become the cominator or Textal of
Latin America from Buenos Aires for the rest

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of the region. We were born
thinking about what we could, from Buenos

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Aires, with so much successful entrepreneur, both role model, inspire and manage

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to encompass the whole region through this
combination of investment plus accompaniment, through these

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acceleration programs. So up there it
was like it was all new Firstle Manager

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to me. I can tell you
how we put it together, but the

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reality is that I didn' t
realize that I had really gotten to the

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place I wanted in meeting my goals, when I had a portfolio like the

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one we have, which is a
great portfolio where there are concrete metrics and

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we really saw that we basically have. With investments in Arly Sage, we

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managed to generate more than eight million
jobs directly within the region, more than

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millions of jobs directly across the region
as well. Inclusion of women in the

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workforce, financial inclusion, labour inclusion
in education, health, so I said

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WOW. This was what I was
looking for through venture capital investments, little

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capital and much accompaniment. I can
be fortunate enough to fulfill my purpose,

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which was to positively impact society.
So, good of that story we started

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with Ariel from the agency. Then
we incorporated Gonzalo Costa, who basically joined

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our fund go We have recently incorporated
two new partners into this third fund WOW.

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That' s interesting. I knew, well, I had told him

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about you, but I didn'
t know that you came from the marketing

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area that worked for unbalanced agencies and
then enjoyed the transfer changes, from digital

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transforcing companies around the world of deventuring
copo, when you were dexi liap start

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investing with service and technology for early
stage startups and you end up, like

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many companies of that kind, saying
we' re going to invest in larger

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amounts of capital and what you do
the Venture Capital Wow Fund. The truth

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is, I' m very happy
to have someone from your calibration here,

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because I know what you' ve
been through. We' ve been through

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something similar, not to level logically, but I love to hear that as

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from something very, very very born, very from the beginning you leave.

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Realizing the importance of a Mars Cross
in which he was a fantastic entrepreneur.

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I' d like to keep asking
you, because I have a lot of

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questions today. Yes it is on
my list of wische list Above all,

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what we wanted to ask as much
dear was as John, but since it

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says the whole introduction where you came
from. I would like to understand now,

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as nettypy Ventures, what is the
full goal of this fund, as

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I saw that you like entrepreneurship where
it goes to what is the total goal

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of this investment fund. Yeah,
we look like a lie to me,

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' cause the years run so fast. We became First Side Managers in the

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year two thousand eleven. Well two
thousand thirteen is the first wave acceleration fund

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two thousand thirteen, in which we
were agnostic. I mean, the ecosystem

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was very mature. Then you couldn' t make me say I' m

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going to invest only in the vertical
of b B as we do now,

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or in saw Tech or N Dute, etcetera, etcetera, but you had

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to see the whole panorama that was
in Latin America, because I repeat again

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it was extremely immature. Nobody understood
very well what we were doing, so

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that led us to invest in one
hundred and ninety- seven startups, of

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which today we have five unicorns,
a fund that has given a very good

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return in the second fund. I' m already answering your question. Not

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because, I mean, we started
being agnostic, little amount in many companies.

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We passed a second fund in which
the two thousand eighteen the ecosystem much

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more mature, more entrepreneurial, c
contan founders, which in the first fund

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we did not have to counterfense practically
more people accustomed to working in startups that

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had been successful or not in the
previous years, more sophisticated funds that had

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come to the region, those that
we call explorers like a softban that faith

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made so much noise, let'
s say and came to this ecosystem to

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think differently. Some think it was
positive, another was negative. For me

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it was a fact and somehow transformed
the ecosystem at that time, as well

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as many local and regional funds.
That' s where we decided to change

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our investment thesis. We went on
to call ourselves Next Piventure, where we

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said good. Looking at the portfolio
of our first fund, we saw that

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the companies that had the most success, that is to say, the ones

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that disappeared the least number of ray
tov were, vtobs were more sustainable and

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viable businesses over time. VITUS required
too much capital in the beginning and well,

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it burns a lot of capital and
if I don' t get next

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rounds, it' s hard to
sustain. On the other hand, we

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looked at the market of all companies, of all sizes that the technological transformation

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did not arrive, it was very
complex for them to do it internally and

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that, well, in short,
they would have to do it from the

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new entrepreneurs that developed technology thinking about
the consumer, not what they did,

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but what the consumer needs. Then
the big corporations were going to be the

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big suppliers in cool video a business. They were also going to be consumers,

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customers of these companies or the short
preventiore capital that were going to appear

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could be their next investments. So
we decided to focus specifically on making a

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venture capital play Danilla fund invest between$ 500, 000 and$ 2 million

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in the first ticket, twenty-
two companies in the portfolio and I repeat

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you well focused in that segment,
in that sector of vto B softwares of

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being VIS we like very much,
but among the subdomains is logistic Fintheck,

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Marketplacis, Vutube, Intelligence, Artificial
cyberscqui. But I' d tell you

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we' re already an investment firm
today. We graduated, as we say,

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from the third fund we closed in
last year, in the two thousand

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twenty- three, which is a
much bigger fund. Three times let'

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s say, almost three times the
size of the last fund where we are

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already in a market that, as
many of my colleagues say, go to

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The Basic, I mean, we
went back to the base those companies that

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have evaluations of a hundred million dollars
or five hundred million dollars or onebillion dollars

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is because the billing is backing it, because let' s say the KP

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and that are the ones that we
measure to evaluate a certain type of companies.

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Really verify that that company has that
value and not like before, that

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there were evaluations a little out of
hand, without much sustenance. So where

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this firm is going is basically that' s to increasingly specialized funds and I

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think this is a bit of a
trend in the sector in general. I

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think in the future there are two
things that are going to happen and I

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would tell you that I could sign
it today. The first is that the

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funds will increasingly have a greater degree
of specialization within each of the sectors,

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as well as us. Today we
have b B and we have the subdomains

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that I told you very likely the
next fund the subdomains will be even more

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detailed, that is, one two
in the United States. In New York

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I' ve been seeing some funds
that only invest in vto B for Retai.

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Obviously you have a range of companies
behind that can be human resources,

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they can be the CHARTEC may be
I don' t know marketplaces and eat

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whatever it is, but for retail
not that it' s Feasibly, so

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I think the future is going towards
the specialization of the funds. Or we

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already have CLAYMENTEC, bio check Deep
Tech. So that' s the future

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and the other is basically that the
funds that have a diversity in the founding

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teams really true, both with gender
diversity and other kinds of diversities, cultures,

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nationalities, religions, let' s
say, sexual issues. There are

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so many different types of sexes.
I don' t think it goes towards

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that space, towards diversity within the
founding teams of the funds and towards a

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greater degree of specialization in the funds. And, on the other hand,

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I want them to have a clear
purpose. It will also be easier for

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them to raise capital from the funds
of wau funds. Interesting, because ten

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years ago it was not seen that
the funds were so strategic of a single

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vertical line of business, they were
totally agnostic, that is, they became

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all that was high impact. Then
they were only split between software technologies,

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for example, and then technology and
then others. But within those vertical technology

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is sub- vertical, whether it' s Heattec, FINTECK, arhtect Tech

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and within those other sub- domains, as you also call them in your

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portfolio that we' re going to
invest in artificial intelligence, that they'

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re red, almost in the future, so the trend is going to be

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like the medical part. There are
specialists even in the little toe of the

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left foot. And that speaks well
to us, because what the world occupies

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is specialization in things, both in
startups, in markets and, therefore,

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in funds to be able to activate, because an immersion fund, as well

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as you do, not only support
with capital. It is also networking,

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relationships, work, operation, good
practices, etcetera. Interesting. Karina,

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you, how you see I have
some questions that I would like you to

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support me, for example, because
I have doubts about what strategies they do

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to get those investment parts. How
do you see if you also help me

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by financial rhythm. You know that
you can measure companies with respect to finance

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and in this case, Marta is
only investing in companies that has to measure

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with profitable chapels. How do you
think we can do that part? Querina,

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well, Marta, I shared some
project. I have consulted him the

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sixths where I am myself invested or
projector that I want to know your opinion,

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because it is not only the financial
point that one asks, but also

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the team is very important. So
the reality is that, from a financial

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point of view, what I see
is that Marta doesn' t know if

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she' s going to value this
opinion. I see that in general there

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is a weakness in the financial part
of companies when they are setting up a

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company that then they have to solve
it in some way by setting up equipment

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or learning that or plas learning themselves
the two choirs at the same time,

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because it is a big problem that
I see to create a business that many

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people almost always forget the number.
When they see the number, they realize

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that there are a lot of things
they could modify. It totally changes them

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for all the time I mentor inventor. In that sense, I see it,

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I guess they should do the same
thing at heart, that is,

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they see that problem and they help
the entrepreneur get into the number that is

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really going to help make decisions and
what they are going to lead the project.

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And another thing that' s interesting
that you' re just listening to

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and I' m scoring everything,
because every time you region it, not

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everything I want to know, everything
you see, everything that I was thinking

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you' re obviously specializing in and
that' s a trend. Let us

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take into account from the origin that
the BPs were created. This was a

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walf street detachment. Then they realized
that there were some sectors that were not

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funded. So that' s where
everybody in DC started lending. That was

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evolving and it' s going to
evolve more and more. I wanted to

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ask Marta if, despite this specialization
they have where they also have to help

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entrepreneurs achieve their goals, because if
they cross the river, you benefit.

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As I always say, all the
invaders want our inverted ones to cross the

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river and we' re going to
help them in all this. If within

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this specialization you find some team or
some project that does not meet those specifications

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of the background, but you love
and love the pip that they make you.

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And say well, I can date
Topster, because this project threw him

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into my background. This can happen. Marta, what a question, Cariña,

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what a question you' re looking
at. The reality is that the

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more judicious the BICs are if we
respect the investment theses. I think it

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gives us a potential as major professional
managers, that is, we, when

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we go out to be fan racing
to raise our own funds, we reliably

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justify, obviously, with a lot
of data, with a lot of research

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that we do, and so on. Why we chose that thesis. Basically,

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then, beyond what I told them
we chose it, because the companies

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in our first portfolio were the most
sustainable, VTUBs, because SMEs and big

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companies needed technological and digital transformation.
Also because we specialize more in bh BI,

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that is, both the partners and
the network, that we put together

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behind mentors of investors, that we
have of the same enterprises that today are

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successful and that collaborate with us much
in the part of vieu diligenzo approaching us

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entrepreneurships are of the world vtob That
was also the reason why we decided to

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make strathesis. So, if we, if it comes to us, I

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don' t know a company that' s spectacular and that' s doing,

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for example, I don' t
know a reagent to be able to

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detect whether the oncological medication they'
re giving to a patient with breast cancer

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is making her affect or not.
For example, there are many of these

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initiatives today. The truth is that
for me it is spectacular, that is,

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I would like to support it more
so that it exists, because we

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really need that kind of innovation,
but it is not the thesis of my

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fund. Then it may be the
spectacular team, that what they are doing

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has a degree of innovation that takes
off from the rest of everyone else who

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is taking it forward. I do
not know that you have a comparable in

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Europe that raised and amount of money
and that it could be your success that

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you have all the conditions, but
it is bio check and of that kind

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and unfortunately, we have to pass. In that case you have the chance

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to say good. I, as
an investor Angel, can make my bet

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on this empreno one. Obviously you
can ask for authorization within your committee.

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In general, when it is outside
the thesis, it is not necessary to

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say good if it does not invest
the fund I invest because it is not

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within the thesis. But that'
s basically the long short answer. I

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don' t know if how,
but that answer the truth you have to

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00:25:22.799 --> 00:25:27.359
make very judicious, but I wanted
to make an observation about something Alexander said

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when he asked you. We don' t look at companies that are already

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00:25:32.440 --> 00:25:37.039
profitable. We got into chair at
arly stage from presidents. I would like

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00:25:37.039 --> 00:25:41.160
to say that there are companies that
have just the first tests of the model.

307
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I mean, today you don'
t have a cape there that can

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00:25:45.920 --> 00:25:49.720
grab a carina and make a projected
background flow, so you can make a

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00:25:51.160 --> 00:25:53.319
model, because the model is made
and functioned to the size of the market.

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And that' s how we define
if that company is solving a very

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big market problem that, if it
takes a portion of that market, can

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become a dollar bileon company. I
mean, we do a model to see

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if we' re going to invest
or not, but we invest, let

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' s say pre redene what I
mentioned to you about companies that have to

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00:26:18.279 --> 00:26:18.599
have an evaluation according to the billing
and the capi that are measured. That

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00:26:18.640 --> 00:26:23.960
' s when we say they'
re already in the crowd stage when they

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00:26:26.240 --> 00:26:30.839
' re in the bsd rounds so
in this Epiventures they can reverse the startup

318
00:26:30.839 --> 00:26:36.160
that generates it a sales. Yes, exactly we have invested in a Brazilian

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00:26:36.240 --> 00:26:40.440
company, of a Brazilian team,
of which one of the founders is finishing

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00:26:40.519 --> 00:26:45.960
the NV And now that it is
spectacular, the team is spectacular and the

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company also, called TECHI, which
is basically an artificial intelligence company for education,

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is to save time for teachers and
teachers, to put together the exams

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and correct them and so that,
from the automatic correction with the amount of

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00:26:57.599 --> 00:27:02.400
artificial intelligence r, the learning routes
are prepared by each of the students,

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00:27:02.759 --> 00:27:08.160
according to the weaker part. No. No, all the students, after

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00:27:08.200 --> 00:27:12.079
an exam, are going to continue
with the same chapter of the book,

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00:27:12.480 --> 00:27:15.519
so to speak. No, I
mean, in the future they' re

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00:27:15.839 --> 00:27:19.079
going to have the possibility of having
twenty people in a classroom and each one

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00:27:19.160 --> 00:27:25.519
have their own learning path and saves
an impressive amount of time for teachers,

330
00:27:25.680 --> 00:27:30.880
which allows them to be trained in
new technologies, in other things that are

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00:27:30.920 --> 00:27:34.799
of added value to continue being good
teachers. Not that they had the vision

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00:27:34.839 --> 00:27:40.759
of the company, the mission,
the fact, the MVP p and test

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00:27:41.279 --> 00:27:45.799
in two schools basically marta. When
an investment fund, an investment union,

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00:27:45.960 --> 00:27:51.480
an angel and a messionist wants or
a venture capital copo wants to invest a

335
00:27:51.559 --> 00:27:56.519
startup, it is usually evaluated fifty
percent. The decision to invest is on

336
00:27:56.559 --> 00:28:00.200
the emperor or founder. Then thirty
percent is on the work team. Eighty

337
00:28:00.279 --> 00:28:04.559
percent. I mean we invest in
the humans who are behind that idea of

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00:28:04.599 --> 00:28:11.440
business project star your what it is
that most evaluates in this piventures in the

339
00:28:11.519 --> 00:28:15.799
human part, say how you tell
that entrepreneur once you say in traverti that

340
00:28:15.000 --> 00:28:19.359
business. Yeah, there' s
negociation. There are ventures that are fantastic.

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00:28:19.440 --> 00:28:22.920
What they are looking for are fantastic, but the entrepreneurial team see that

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00:28:22.960 --> 00:28:27.799
it is not robust enough to be
able to achieve the goals it seeks and

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00:28:27.880 --> 00:28:33.279
we also have to let it go. I' m going to tell you

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00:28:33.319 --> 00:28:37.799
a very small story. I once
met Winet that having that was a very

345
00:28:37.920 --> 00:28:44.359
sophisticated investor. He worked in very
large Tolar billion funds, partner in companies

346
00:28:44.400 --> 00:28:49.559
of Grod, previous celery and came
to give a workshop to the entrepreneurs of

347
00:28:49.680 --> 00:28:53.640
our network and at a certain moment, asked him what investors were looking at

348
00:28:53.759 --> 00:28:59.000
in the stages let' s say
very advanced, not stages of Grob.

349
00:28:59.160 --> 00:29:03.920
Just foresee in some way and she
asks me to look up and tells me

350
00:29:03.920 --> 00:29:07.559
Marta, you think you looked at
me at that moment I had two or

351
00:29:07.680 --> 00:29:11.039
three years of being in this world
and I said good for Grod and you

352
00:29:11.279 --> 00:29:15.279
already look at it finan already the
returns of the crazy projected cash flow.

353
00:29:17.119 --> 00:29:22.160
What do you look at, I
mean people, people the team, I

354
00:29:22.200 --> 00:29:25.799
mean, the team still has.
It is not the same proportion, but

355
00:29:25.880 --> 00:29:30.680
throughout the life of the company a
very great relevance in terms of the definition

356
00:29:30.680 --> 00:29:36.119
of investing. What we look at
on the team. Well, it was

357
00:29:36.279 --> 00:29:41.200
changing over time somehow. As I
told you before, we never had to

358
00:29:41.200 --> 00:29:45.160
tell me managers. Then there was
much more to be looked at than to

359
00:29:45.240 --> 00:29:48.759
say what the story of life was, where they came from, what universities

360
00:29:48.799 --> 00:29:52.480
they had come from, whether they
had had experiences, whether they had lived

361
00:29:52.480 --> 00:29:59.519
abroad or not. I don'
t even know if they had participated as

362
00:29:59.559 --> 00:30:03.720
leaders in a football team or in
a church or was Boy Scouts. Not

363
00:30:03.920 --> 00:30:07.440
this thing of thinking about team building, how to attract people, how to

364
00:30:07.440 --> 00:30:11.519
motivate them. Not all that kind
of stuff. Since the years have passed,

365
00:30:11.880 --> 00:30:15.799
you start to have other kinds of
things that well, there you contain

366
00:30:15.880 --> 00:30:23.599
of teati ame founders, people who
really come with shared experiences and the team

367
00:30:23.720 --> 00:30:29.759
is very complementary. In other words, they are not all technological or all

368
00:30:30.960 --> 00:30:33.640
commercial, but there is an important
complementarity. I have a saying that is

369
00:30:33.960 --> 00:30:38.759
if in a team two do the
same and one that is left over and

370
00:30:38.799 --> 00:30:42.839
there is also one that is missing. So this thing of complementarity. There

371
00:30:42.880 --> 00:30:48.119
are teams that, i e startup, are technologically based and have no technology

372
00:30:48.160 --> 00:30:53.160
in the equipment. I' m
not saying that we have a super programmer

373
00:30:53.160 --> 00:30:56.480
and that that' s someone who' s already past the stage of sitting

374
00:30:56.599 --> 00:31:03.799
down programming, but at the very
beginning he has to know how to evaluate

375
00:31:03.200 --> 00:31:04.319
programmer, that is, assemble the
team, look for resources, etcetera.

376
00:31:06.240 --> 00:31:11.279
What leadership skills each has and if
those abilities are respected, not because many,

377
00:31:11.799 --> 00:31:14.119
that is, in all teams,
there is always one that emerges,

378
00:31:14.240 --> 00:31:18.880
there is not always one that ends
up being the o. How much respect

379
00:31:18.000 --> 00:31:22.000
there is for that partner who'
s going to take this ugliness function.

380
00:31:23.160 --> 00:31:30.480
How clear they have in their vision
what they are pursuing, how much they

381
00:31:30.480 --> 00:31:34.319
know about the market. And one
very important thing is what ability they have

382
00:31:34.400 --> 00:31:37.720
to transmit that vision to all audiences, to which they have to reach and

383
00:31:37.799 --> 00:31:45.079
when I say this is to investors, what ability they will have to go

384
00:31:45.119 --> 00:31:49.799
out to be fan racing after we
intersect them, what ability they will have

385
00:31:51.200 --> 00:31:57.839
to attract people to their teams at
times where there is no money, where

386
00:32:00.039 --> 00:32:02.559
I have to attract them with the
dream, I have to inspire them and

387
00:32:02.680 --> 00:32:07.559
motivate them with the dream that we
will build something along with the press,

388
00:32:08.000 --> 00:32:15.920
with the suppliers. I mean,
this question of sometimes the word communication or

389
00:32:15.279 --> 00:32:22.200
marketing. It is as good as
it comes from that area and the reality

390
00:32:22.279 --> 00:32:30.079
that the ability to transmit through language
is fundamental for everything, for everything,

391
00:32:31.160 --> 00:32:36.759
for racing, is fundamental for again, I repeat, to bring people to

392
00:32:36.839 --> 00:32:39.319
your team, to give directives,
to become a leader, etcetera, etcetera.

393
00:32:40.319 --> 00:32:46.079
Not then, well, all that
stuff is the things that we look

394
00:32:46.119 --> 00:32:53.440
at a lot and again that'
s done from when you see Linkedin what

395
00:32:53.720 --> 00:32:58.640
his experiences are. But then a
lot of work is done on the stage

396
00:32:58.920 --> 00:33:05.079
of viaudiligence, seeing a little bit
of the whole environment of these people who

397
00:33:05.079 --> 00:33:08.480
make up this team. If you
want tedo and some example to make it

398
00:33:08.599 --> 00:33:15.119
better understood. If we don'
t go to the next question, well,

399
00:33:15.359 --> 00:33:20.319
we saw an entrepreneur who was developing, a very spectacular venture. It

400
00:33:21.200 --> 00:33:29.799
was kind of a sort of consultation
to define the scorrong of an individual or

401
00:33:29.920 --> 00:33:37.039
a company. I checked in form, let' s say, parallel to

402
00:33:37.079 --> 00:33:39.279
different databases and in terms of less
than five minutes I could give you the

403
00:33:39.279 --> 00:33:43.599
scoring. That is, if the
person or the company was buying on the

404
00:33:43.640 --> 00:33:47.319
Internet, in a marketplays to be
or in a parkeplay or yours or in

405
00:33:47.359 --> 00:33:53.480
uni Commerce in less than five minutes, it would link to that platform and

406
00:33:53.599 --> 00:33:57.720
give you the scoring to see if
you could give him credit. Already an

407
00:33:57.759 --> 00:34:06.200
instant thing, almost not spectacular,
a lot of experience, excellent, the

408
00:34:06.400 --> 00:34:10.440
found of the original, because then
joined other partners at technological level, that

409
00:34:10.480 --> 00:34:13.159
is, there was no doubt that
I would be able to carry it forward.

410
00:34:14.360 --> 00:34:16.960
We did all the checks, all, all, all perfect, perfect,

411
00:34:17.000 --> 00:34:22.000
until I said well you know what
I' m going to talk to

412
00:34:22.039 --> 00:34:29.119
the startup that worked before as a
place to tell me how it went with

413
00:34:29.159 --> 00:34:34.000
this world that we have with Kary, that we have contact with as far

414
00:34:34.000 --> 00:34:42.599
as the entrepreneur comes to you and
entrepreneur, I talked to the entrepreneur and

415
00:34:42.599 --> 00:34:45.000
basically nothing. We made a cabbage
to see what this person looked like and

416
00:34:45.000 --> 00:34:49.719
it was spectacular. It was really
all the checks were perfect until I asked

417
00:34:49.800 --> 00:34:53.920
him the last question that was and
in terms of leadership ability, but he

418
00:34:54.000 --> 00:35:00.719
tells me yes spectacular. It attracted
people perfectly, i e, it set

419
00:35:00.719 --> 00:35:06.599
up teams without incredibles, all barbarians
and worked very well at its core of

420
00:35:06.599 --> 00:35:08.159
the technology area. The truth was
true of the times. Everything is different

421
00:35:08.199 --> 00:35:14.119
from the one thing, but it
was related to the leader Ship Team.

422
00:35:14.679 --> 00:35:17.199
Oh, no, he' s
not being brought into the world by finance,

423
00:35:17.440 --> 00:35:24.199
human resources or strategy. Leave it
to him with that which makes it

424
00:35:24.400 --> 00:35:28.920
perfect and I said good, or
this gentleman has to build a company,

425
00:35:29.920 --> 00:35:36.079
not an area of technology. So
good is like very subtle everything. No,

426
00:35:36.719 --> 00:35:38.519
we can' t be wrong,
too, eye. We can also

427
00:35:38.559 --> 00:35:43.239
miss leaving, passing and saying wow, looking at how it developed and looking

428
00:35:43.320 --> 00:35:46.679
how well it did and so on, but let' s say I did

429
00:35:46.679 --> 00:35:51.239
it very summarized. We' ll
check other things later. But the reality

430
00:35:51.280 --> 00:35:57.000
that was like this wasn' t. It has to have a very high

431
00:35:57.079 --> 00:36:01.199
ability to see the whole field,
not just the area, that of marking

432
00:36:01.239 --> 00:36:08.400
the return on investment path that we
all use invested and has to talk to

433
00:36:08.440 --> 00:36:15.119
the personality. It' s very
important. I have lived it personally and

434
00:36:15.280 --> 00:36:19.199
I live it with other entrepreneurs how
they speak and how they express themselves.

435
00:36:19.360 --> 00:36:25.119
It seems very basic not to look
at how they move their hands and how

436
00:36:25.159 --> 00:36:29.440
many words they put per minute,
because it is not the same to listen

437
00:36:29.679 --> 00:36:37.880
to an entrepreneur who speaks to everything
like that not yes and one who gives

438
00:36:37.880 --> 00:36:42.599
passion. But besides, in any
area where you find it, you'

439
00:36:42.639 --> 00:36:45.920
re going to find that this person
is active is going forward. So it

440
00:36:46.000 --> 00:36:50.880
looks like a pavada tares a matter
of personality and arrival a lot of other

441
00:36:50.960 --> 00:36:53.039
details that have to do with that. But of course, in this case,

442
00:36:53.280 --> 00:36:58.599
that entrepreneur was very good at what
he was doing. He had a

443
00:36:58.679 --> 00:37:04.360
super good idea, but he was
very structured to lead a company and this

444
00:37:04.840 --> 00:37:08.800
is noticed in the way you say
marta, in communication he super realizes the

445
00:37:08.920 --> 00:37:15.000
strength that he has to carry forward
more all the references that, obviously one

446
00:37:15.079 --> 00:37:23.079
can search in the market, because
there is and I hurt directly to the

447
00:37:23.119 --> 00:37:28.400
profit, to the performance of the
company, to the rer review, as

448
00:37:28.639 --> 00:37:30.440
I say to him, and everything
else, because from there, that person,

449
00:37:31.159 --> 00:37:36.119
with that activity that has mental that
is reflected in the body will be

450
00:37:36.559 --> 00:37:40.360
able to analyze obviously that it can
be wrong and obviously, as I said

451
00:37:40.360 --> 00:37:45.280
before, there are a lot of
entrepreneurs that they lack background of finances and

452
00:37:45.280 --> 00:37:50.000
if they would need to incorporate someone
in the team or to learn or to

453
00:37:50.000 --> 00:37:53.199
be on the numbers. But whatever
you see clearly and Martha, who gave

454
00:37:53.199 --> 00:37:58.840
her millions of returns, must have
seen when you see a personality that is,

455
00:37:59.519 --> 00:38:04.360
that has capacity, leadership is clear
if it is not in the body,

456
00:38:04.440 --> 00:38:08.719
in the face the eyes in everything, yes. I say it'

457
00:38:08.760 --> 00:38:13.480
s a feature. The entrepreneur of
all those we saw and those who are

458
00:38:13.559 --> 00:38:21.639
more successful than you are taking out
patterns is not basically have a degree of

459
00:38:21.639 --> 00:38:27.719
determination that they will do it,
that is to say they determine that they

460
00:38:27.760 --> 00:38:30.000
will do it and that they will
do it right? And what' s

461
00:38:30.159 --> 00:38:36.119
more, many times it' s
not necessarily going to be the same as

462
00:38:36.199 --> 00:38:40.400
what they' re going to end
up doing, but you already realize that

463
00:38:40.480 --> 00:38:43.599
whatever they do they' re going
to do right. That I wanted to

464
00:38:43.599 --> 00:38:49.719
ask you also makes Rato Marta,
because, as a background and when you

465
00:38:49.800 --> 00:38:53.880
comment that you can invest in stages
that one generates sales startups, there is

466
00:38:54.400 --> 00:38:59.199
a lot of risk because a city
startups that is a company that are created,

467
00:38:59.360 --> 00:39:01.559
that one counts as a business,
that is to say, it is

468
00:39:01.880 --> 00:39:07.400
looking forward, it is pivoting and
learning where then, during your investment,

469
00:39:07.360 --> 00:39:12.400
the startup in which to enter with
you can pivot twenty thousand times can come

470
00:39:12.400 --> 00:39:13.440
selling cardboard boxes and ay that goes
selling coffee, coffee and four. I

471
00:39:13.559 --> 00:39:16.960
don' t know then how you
adapt to these issues. I mean,

472
00:39:17.360 --> 00:39:21.880
the risk is too great. How
you make it possible for this to happen

473
00:39:22.159 --> 00:39:24.800
in your background and to really be
profitable for you. To see in general,

474
00:39:25.840 --> 00:39:29.719
the type of enterprises and equipment in
which we undertake, has a clear

475
00:39:29.800 --> 00:39:31.719
idea of what they want to do, what is the market in which they

476
00:39:32.480 --> 00:39:37.639
are acting, that is, they
are including through the platform the solution they

477
00:39:37.679 --> 00:39:45.239
are developing. They have an initial
idea. I' d tell you what

478
00:39:45.320 --> 00:39:52.239
the boat hon market is, that
is, how to reach those customers.

479
00:39:52.239 --> 00:39:57.199
Even if they' ve done the
first tests, I' ll repeat you

480
00:39:57.199 --> 00:40:01.280
again. We do our own analysis
behind that market size. How much you

481
00:40:01.280 --> 00:40:06.760
can take from that market and if
you take a portion, how much will

482
00:40:06.840 --> 00:40:08.880
be the billing in x amount of
years you are developing in the middle.

483
00:40:08.960 --> 00:40:15.400
Obviously, different things can happen.
One may be that the market drastically changes

484
00:40:15.480 --> 00:40:22.000
conditions and for some reason I do
not see it as complex today. That

485
00:40:22.079 --> 00:40:25.800
as it was in our bottom one. We, in our background one,

486
00:40:25.880 --> 00:40:34.039
had companies that used Google to make
beaving, let' s say for ads

487
00:40:34.079 --> 00:40:36.320
and so on, and one day
Google said this doesn' t do it

488
00:40:36.320 --> 00:40:38.400
anymore. You do it we'
re done and well, in many cases

489
00:40:38.480 --> 00:40:45.280
the business is over. Other issues
let' s say more political. How

490
00:40:45.320 --> 00:40:51.960
was the case with blues Mark.
We invest in Bluesmark with Dieguito, which

491
00:40:52.000 --> 00:40:59.239
is a locomotive that has its third
company. We invested in his first company

492
00:40:59.320 --> 00:41:05.679
and sold himself as and when he
re- started, we decided to invest

493
00:41:05.719 --> 00:41:10.920
in the smart bag And well,
there was a political issue there of the

494
00:41:10.920 --> 00:41:15.599
airlines and the ballistics, of a
brand that I don' t want to

495
00:41:15.599 --> 00:41:16.400
name, that didn' t suit
him and so on, not good and

496
00:41:16.400 --> 00:41:20.559
ended up being a Ratov. But
all of a sudden you have others who

497
00:41:20.599 --> 00:41:25.199
don' t actually start out one
way they still supply or solve the same

498
00:41:25.199 --> 00:41:30.039
problem. But a new technology appears
that makes them need to redefine the base

499
00:41:30.079 --> 00:41:32.760
product, the base platform. With
the new technology. So, well,

500
00:41:32.800 --> 00:41:37.880
there we investors are to help you, either by the network of experts,

501
00:41:38.559 --> 00:41:45.679
or by helping them incorporate human resources
that have skills to use that new technology.

502
00:41:45.679 --> 00:41:50.920
Or helping them pick up a round
with the storytelling of how well they

503
00:41:50.960 --> 00:41:52.880
did so far, but that they
have to do a re- alignment of

504
00:41:52.880 --> 00:41:57.320
the platform. Then you need to
pick up a round to work on the

505
00:41:57.360 --> 00:42:02.480
product and continue transforming those customers the
initial version with the new perfect one.

506
00:42:02.920 --> 00:42:10.000
But then you have others who have
such a long- term vision that she

507
00:42:10.119 --> 00:42:14.199
already knows what they' re going
to do. But when they tell you,

508
00:42:14.440 --> 00:42:21.480
they tell you their first part of
the project, a first part that

509
00:42:21.480 --> 00:42:24.639
is interesting, that is attractive,
that has a lot of impact. Blah,

510
00:42:24.760 --> 00:42:28.840
blah, blah, but he'
s already very clear on what steps

511
00:42:28.840 --> 00:42:30.719
they' re going to take.
And you see that when you analyze the

512
00:42:30.760 --> 00:42:37.440
founding team and in this case I' m talking specifically about Betterfly, when

513
00:42:37.440 --> 00:42:44.199
I raised the magiora came to see
NXTP who introduced me Davidlvo who today is

514
00:42:44.320 --> 00:42:49.119
you know him very well. Kari' s impact BC was an entrepreneur who

515
00:42:49.119 --> 00:42:54.039
invested in his first company. It' s good, it didn' t

516
00:42:54.239 --> 00:43:00.519
go super well, but the reality, which was very good entrepreneur became manager

517
00:43:00.679 --> 00:43:06.440
of the country of nexhibí in Chile
and from there it went that I very

518
00:43:06.480 --> 00:43:07.400
much regretted that it left from on
display. But he told me I'

519
00:43:07.400 --> 00:43:12.400
m going to bring you an impact
project that you won' t hesitate and

520
00:43:12.400 --> 00:43:15.239
you' re going to invest.
And I brought it to Eduardo the magiora

521
00:43:15.320 --> 00:43:20.280
with at that time burn h Gip. So, Eduardo la Magiara started building

522
00:43:20.360 --> 00:43:24.199
a community, started putting together the
market, the community of a number of

523
00:43:24.280 --> 00:43:29.840
thousands and hundreds of thousands of people
that through lowering the goal of bubbling the

524
00:43:29.920 --> 00:43:35.360
brina of the world donating the calories
that he burned doing a sport, donating

525
00:43:35.440 --> 00:43:38.760
them to a cause and those calories
I buy them a brand, well,

526
00:43:38.920 --> 00:43:44.400
what a boring business, a lot
of impact, but here boring Every time

527
00:43:44.480 --> 00:43:50.519
you have to go to the sponsor
and ask him to buy you but the

528
00:43:50.599 --> 00:43:54.039
reality that was just looking at it
and saying I already know where I want

529
00:43:54.199 --> 00:43:59.519
to get you are going to end
up being or a company of web ables,

530
00:43:59.519 --> 00:44:00.960
not that is everything related to the
sport. Or you' re gonna

531
00:44:00.039 --> 00:44:07.159
sell your own brand of sport-
related stuff. Or you' re gonna

532
00:44:07.239 --> 00:44:10.760
do this about Blockchaine' s chain
and you' re gonna have the point

533
00:44:10.880 --> 00:44:15.559
bartubes that are going to market.
Or you' re going to turn into

534
00:44:15.199 --> 00:44:19.519
a finteck because you already have the
community and you' re going to fund

535
00:44:19.519 --> 00:44:22.840
that sports community. Or tomorrow at
an ashur Teck. There wasn' t

536
00:44:22.920 --> 00:44:25.159
like a lot of possibilities, but
at the time neither of us talked about

537
00:44:25.199 --> 00:44:30.440
it that way, I mean,
we mentioned the issue of what the derivatives

538
00:44:30.440 --> 00:44:35.480
were. You can have me a
community and well, today it' s

539
00:44:35.880 --> 00:44:44.360
the first social unicorn, a high
impact company and it' s a safe

540
00:44:44.400 --> 00:44:46.800
insur teck, life insurance, plus
all the rest that didn' t abandon

541
00:44:46.840 --> 00:44:54.079
it, not the whole part of
Wellnest, the whole community let' s

542
00:44:54.119 --> 00:44:58.079
say and everything about the calorie part
and more that it' s still,

543
00:44:58.679 --> 00:45:01.480
so it was cross- crossed to
get to today. And today it is

544
00:45:01.480 --> 00:45:07.840
a brand bea to Be Softwares Starmys
company of profit platform for companies, because

545
00:45:07.840 --> 00:45:12.679
what it wants to achieve is to
turn companies that use Metanfly into the best

546
00:45:12.719 --> 00:45:15.719
place to work best play to work
is very interesting, because what you comment

547
00:45:15.760 --> 00:45:22.320
on I also lived it directly with
startups. First, we didn' t

548
00:45:22.360 --> 00:45:25.639
focus on creating incubation programs for startups
and looking for sponsors, whether from government

549
00:45:25.639 --> 00:45:30.199
or companies, who would share the
events, because the entrepreneur, logically,

550
00:45:30.559 --> 00:45:34.199
can' t pay you a program. However, it is very very complicated

551
00:45:34.239 --> 00:45:37.239
and government change in Mexico was very
complicated. So we migrate the theme of

552
00:45:37.239 --> 00:45:40.360
copor eventuring. We realized the importance
of wanting to work with companies that wanted

553
00:45:40.360 --> 00:45:46.079
to tech or become digital and we
created interapenership programs, which was also more

554
00:45:46.199 --> 00:45:51.159
complicated, because the internal employee was
very complicated, that brought an idea,

555
00:45:51.519 --> 00:45:57.400
a concept. So we went back
to iterating again and it was that we

556
00:45:57.599 --> 00:46:00.920
made community with Stark for many years
to projects that we bring from a certain

557
00:46:01.000 --> 00:46:05.760
vertical, for example, from cement
plants, because we look for this sponsor,

558
00:46:05.960 --> 00:46:08.920
which is a company that wants to
be venture capital or, but in

559
00:46:08.920 --> 00:46:12.239
corporat and venturing or internal innovation,
but pussy an external emperor. Then give

560
00:46:12.320 --> 00:46:15.719
and moustache It is very interesting and
the truth is that we have also lived,

561
00:46:15.440 --> 00:46:19.960
like you in your case, with
both the background and with your entrepreneurs.

562
00:46:20.840 --> 00:46:22.760
This business and innovation, because our
Mecca business, I think it'

563
00:46:22.800 --> 00:46:25.960
s innovating in some way cul is
the job and the one that won'

564
00:46:27.000 --> 00:46:29.639
t pay the duck That' s
the complicated part of this project. It

565
00:46:29.639 --> 00:46:32.880
' s in innovation. However,
no one takes away the fun. Hey,

566
00:46:32.920 --> 00:46:39.559
Marta huck and here' s something
interesting, because let' s just

567
00:46:39.599 --> 00:46:40.719
say I wouldn' t want to
premiere so much on the projects you'

568
00:46:40.719 --> 00:46:45.239
re running. However, I am
very excited to know that there are projects

569
00:46:45.280 --> 00:46:50.480
that you are supporting as your main
area in the business part and it is

570
00:46:50.519 --> 00:46:53.519
many years old, both in marketing
and in the business stage. This fund

571
00:46:53.559 --> 00:46:59.599
is now being carried out by startup
projects that in some way help traditional prectis

572
00:46:59.599 --> 00:47:02.760
of more than thirty fifty years in
the market to digitize, to signify,

573
00:47:02.760 --> 00:47:07.320
to evolve to the innovation part,
if not even back, there is a

574
00:47:07.320 --> 00:47:13.800
latent market. There I have a
doubt, for example, how you do

575
00:47:13.880 --> 00:47:19.679
to really convince companies that they have
to innovate. I document you, because

576
00:47:19.719 --> 00:47:24.119
I am in the industry and there
is so much ego in the business part

577
00:47:24.159 --> 00:47:27.480
that many of them say it'
s not that I have done it for

578
00:47:27.480 --> 00:47:30.480
fifty years. I' ve done
well and you explain to him that there

579
00:47:30.480 --> 00:47:31.639
' s something called singularity, that
this is going to change. Look what

580
00:47:31.639 --> 00:47:34.480
' s going on. Right now, they say it' s not gonna

581
00:47:34.480 --> 00:47:38.880
happen. You pruned this on the
road, too, well. We made

582
00:47:38.960 --> 00:47:45.599
as several transitions between bottom two,
bottom one and two we had an area

583
00:47:45.679 --> 00:47:51.199
that worked very closely with the companies
evangelizing. We were one of the first

584
00:47:51.199 --> 00:47:54.280
to start putting together this kind of
corbort venture capital project, that is,

585
00:47:54.599 --> 00:48:00.960
taking the examples from Israel, from
Spain. There were many things they were

586
00:48:00.000 --> 00:48:05.840
doing in other latitudes. The reality
is that, to see, several things

587
00:48:05.920 --> 00:48:10.480
happen on one side. Today the
entire ecosystem collaborates to evangelize these companies.

588
00:48:12.000 --> 00:48:15.719
Before we were very little, then
they counted much more. On the other

589
00:48:15.760 --> 00:48:23.159
hand, let' s say the
issue that SMEs are more permeable to incorporating

590
00:48:23.159 --> 00:48:32.440
innovation taking on those service softwares.
Not for that reason the fren wallets keys,

591
00:48:32.679 --> 00:48:37.360
the CFO does service through platforms like
from or the treasury, through an

592
00:48:37.440 --> 00:48:45.760
application that they have to develop with
a pristine usability, because they are not

593
00:48:45.960 --> 00:48:52.960
sophisticated. It' s the little
companies. You don' t have a

594
00:48:52.079 --> 00:48:55.280
sophistication to understand or pay for an
acturisticated software. They are things of lower

595
00:48:55.280 --> 00:48:59.760
level, of lower value, rather
in monetary terms, but they have been

596
00:48:59.800 --> 00:49:04.800
very sweaty. SMEs begin to accelerate
the adoption of new platforms and technologies.

597
00:49:06.960 --> 00:49:12.079
So much more than corporations and it
turns out that they are beginning to find

598
00:49:12.159 --> 00:49:15.599
themselves, let' s say WOW, in this bid. They won because

599
00:49:15.480 --> 00:49:21.920
I don' t even know they
could use a procurement platform that we don

600
00:49:21.920 --> 00:49:25.400
' t have. Not then I
say it' s like the whole ecosystem

601
00:49:25.480 --> 00:49:30.599
is more solistic, on the one
hand, it' s the startups that

602
00:49:30.599 --> 00:49:34.559
put pressure on innovation, on the
other hand, the SMEs, which are

603
00:49:34.920 --> 00:49:40.199
more sponges to adapt innovation and,
on the other hand, the same human

604
00:49:40.199 --> 00:49:45.039
resources. I don' t like
to say human resources the same professionals or

605
00:49:45.119 --> 00:49:51.519
people who work in companies. Already
the new generations come with this thing that

606
00:49:51.599 --> 00:49:53.840
we don' t have to develop
all zero. If we already have a

607
00:49:53.880 --> 00:49:59.239
lot of things that we can integrate, then I think that' s all

608
00:49:59.239 --> 00:50:04.039
a set. It is giving this
where startups and companies of all sizes start

609
00:50:04.079 --> 00:50:09.760
to work together and to create many
times together the realities that I have many

610
00:50:10.000 --> 00:50:15.199
years ago I have a presentation that
said I have two alternatives. One saying

611
00:50:15.239 --> 00:50:17.320
they don' t exist. Nothing' s gonna happen. They' re

612
00:50:17.320 --> 00:50:22.800
not gonna do anything to me or
fight me say what they do is useless.

613
00:50:22.880 --> 00:50:28.000
Well, it' s best to
collaborate, and that' s what

614
00:50:28.599 --> 00:50:30.920
we' ve been working on all
this time. Because we have little time

615
00:50:30.920 --> 00:50:36.639
left. I don' t want
to stop going that we left this marta

616
00:50:36.800 --> 00:50:43.400
podcast that tells how you helped women
in all this ecosystem, that it was

617
00:50:44.960 --> 00:50:52.840
a little good to have to remove
them from women, to have created the

618
00:50:52.840 --> 00:50:55.800
group of entrepreneurs in which I also
participate, tell us a little bit.

619
00:50:55.920 --> 00:51:00.920
How you' re gonna help all
the women in this world that' s

620
00:51:00.960 --> 00:51:05.480
so hard for us. Well,
and I' m gonna line it up

621
00:51:05.480 --> 00:51:08.840
with your financial side, Kary,
because we can' t leave this podcast

622
00:51:08.920 --> 00:51:13.719
without talking about finance. One of
the first reactions that I had when I

623
00:51:13.760 --> 00:51:20.760
entered the world of Banture Capital was
a lot of people asking me and looking

624
00:51:21.000 --> 00:51:25.719
at me, but you where you
came from, because you have a master

625
00:51:25.760 --> 00:51:30.639
' s degree in finance or something
like that. Not in this world of

626
00:51:30.760 --> 00:51:35.280
venture capital and in the world of
entrepreneurs. Not even in the world of

627
00:51:35.320 --> 00:51:38.360
venture capital do I need us all
to be financial and know how to put

628
00:51:38.360 --> 00:51:43.440
together an exel. Even in the
world of technology- based enterprises we don

629
00:51:43.519 --> 00:51:50.239
' t need to know the OK
program I mean, I' ve been

630
00:51:50.320 --> 00:51:53.880
an entrepreneur there in my time,
in the year ninety- three and six,

631
00:51:54.280 --> 00:51:57.239
universal medical histories and there' s
still no such thing as how early

632
00:51:57.239 --> 00:52:00.159
I did it. I got the
Leading Story. Then I didn' t

633
00:52:00.159 --> 00:52:01.559
get any more money. That'
s why you can' t take him

634
00:52:01.559 --> 00:52:07.719
forward. And the reality is that
one has to understand what technology can do

635
00:52:07.960 --> 00:52:15.199
for the project that we want to
carry and has to know, to understand

636
00:52:15.519 --> 00:52:20.719
the financial capi and to know to
ask whoever the expert is. I thought

637
00:52:20.800 --> 00:52:23.039
external internal, whatever, what things
I need, or that if you give

638
00:52:23.079 --> 00:52:29.599
them information, understand each of the
lines that you are presenting to you in

639
00:52:29.679 --> 00:52:32.320
a pedestrian, in a projected case, in a company evaluation or whatever.

640
00:52:34.079 --> 00:52:37.480
I can' t do this.
I don' t look at him,

641
00:52:37.719 --> 00:52:39.639
I don' t have to be
a finance specialist, and I don'

642
00:52:39.639 --> 00:52:42.239
t have to say no. This
is a matter of cary. I don

643
00:52:42.320 --> 00:52:45.320
' t look at it, I
don' t have to, and above

644
00:52:45.440 --> 00:52:50.559
all, women have to know how
to handle numbers, I mean, it

645
00:52:50.559 --> 00:52:52.559
' s not the more or less. And here you come because it says

646
00:52:52.599 --> 00:52:58.000
entrepreneur from Latin America and the Caribbean
in the Community, because an entrepreneur still

647
00:52:58.159 --> 00:53:04.039
asks her, tell me how much
money you have in cash, what is

648
00:53:04.119 --> 00:53:06.320
your rankway and more or less I
confirm it, because now I don'

649
00:53:06.320 --> 00:53:12.719
t remember. Not then, good. For ten years we created participated with

650
00:53:12.800 --> 00:53:16.840
Beatlab. Susana Garcia Roles. At
this time I was like in the investment

651
00:53:16.840 --> 00:53:22.360
part and had as obsessions, like
me, to strengthen the role of high

652
00:53:22.480 --> 00:53:27.800
- impact women entrepreneurs, who are
women entrepreneurs with a technological base, because

653
00:53:27.880 --> 00:53:34.199
they are the ones that can be
transformed into global enterprises. The reality is

654
00:53:34.239 --> 00:53:38.880
that a platform called WII Exchange was
organized, which was the first Latin American

655
00:53:38.960 --> 00:53:45.840
forum where women were the only ones
who could go pitching. They had mentoring

656
00:53:45.840 --> 00:53:51.280
coaching mentoring sessions, spree dating we
created at that time on a huge platform.

657
00:53:51.360 --> 00:53:53.719
But the reality that after that first
WII Shai we said well, this

658
00:53:53.800 --> 00:54:00.119
has to be transformed into a community, has to go beyond the forum of

659
00:54:00.159 --> 00:54:04.760
each year, and there appears entrepreneurs
lats. The goal was basically to show

660
00:54:04.840 --> 00:54:09.000
roll models of women who had been
able to create their families the way they

661
00:54:09.079 --> 00:54:13.559
wanted to create them. That it
is not or I create the family or

662
00:54:13.599 --> 00:54:17.679
I do an undertaking, but that
you can do the two things that can

663
00:54:17.679 --> 00:54:22.760
make big, regional or global learnings
through, as we said, technological platforms

664
00:54:22.800 --> 00:54:28.880
and basically we start being not a
group of twenty, thirty entrepreneurs and today

665
00:54:29.039 --> 00:54:34.400
are, I don' t know
three hundred and four hundred that interact all

666
00:54:34.400 --> 00:54:37.320
the time in the Whatsapp group.
But the reality that what we give them

667
00:54:37.440 --> 00:54:42.800
is a support. Let' s
just say it helps them ask things that

668
00:54:42.800 --> 00:54:45.719
don' t encourage them to ask
when the boys are in front. But

669
00:54:45.719 --> 00:54:47.679
that is a problem of ours,
not of men, or of women,

670
00:54:47.840 --> 00:54:52.119
not of men. Where we tell
you this is not a girls' club

671
00:54:52.159 --> 00:54:57.360
against the boys, but quite the
opposite. We need to make teams with

672
00:54:57.440 --> 00:55:01.320
gender diversity where we give them workshop, legal issues, development of personal branding,

673
00:55:01.480 --> 00:55:08.280
companies, evaluations, financial issues.
From this goa to mark countless things

674
00:55:08.320 --> 00:55:14.320
that are happening and in turn we
bring opportunities to them, whether it be

675
00:55:14.400 --> 00:55:22.280
calls for acceleration programs, calls for
financing and so on. And despite ten

676
00:55:22.360 --> 00:55:25.199
years of doing all that and today
having a much more robust entrepreneurial community than

677
00:55:25.400 --> 00:55:30.559
in the past, even women still
receive less capital than their men on the

678
00:55:32.079 --> 00:55:42.039
same estates, not just two percent
of the total capital poured out. Envencho,

679
00:55:42.079 --> 00:55:45.599
the capital is destined to enterprises led
by women. So at that time

680
00:55:45.679 --> 00:55:50.800
it was when with Susana García Roles
we decided that the big issue is that

681
00:55:51.000 --> 00:55:58.679
we needed to have more women investors
evaluating projects at the time a startup came,

682
00:55:59.559 --> 00:56:04.639
not only that they were male investors, we had learned through a teacher

683
00:56:04.639 --> 00:56:07.840
named Danacanma, who did an investigation. She is a professor at Columbia University

684
00:56:07.840 --> 00:56:15.960
who did the analysis of about two
hundred and fifty or hundreds twenty pitch men

685
00:56:15.199 --> 00:56:22.800
and women and found that male investors
ask male entrepreneurs promotional questions and women ask

686
00:56:22.800 --> 00:56:31.800
prevention questions. How that translates into
men being asked when you lift the round

687
00:56:31.880 --> 00:56:37.760
how long it will take you to
regionalize the company in more than two countries.

688
00:56:38.599 --> 00:56:42.559
And there the boy says in three
months. I' ve got it

689
00:56:42.559 --> 00:56:45.480
figured out. It' s all
perfect and, besides, it can possibly

690
00:56:45.960 --> 00:56:50.280
open four, because I' m
actually gonna be billing here. I have

691
00:56:50.320 --> 00:56:53.679
a partner there. Here I put
divine and the woman is asked if you

692
00:56:53.800 --> 00:56:57.880
don' t raise the round,
how you' re going to keep going.

693
00:56:57.920 --> 00:57:02.239
If you have two months of Rangway, then let' s say it

694
00:57:02.239 --> 00:57:06.159
' s quite different. The question
conditions a lot where, on the one

695
00:57:06.239 --> 00:57:10.519
hand, we strengthen the woman to
face that question, but on the other

696
00:57:10.599 --> 00:57:15.559
hand, otherwise it is to have
women on the other side of the table

697
00:57:15.760 --> 00:57:19.159
where we ask the questions in the
same way that they are asked to men,

698
00:57:19.719 --> 00:57:23.760
or many times asking directly to the
woman entrepreneur, because when the team

699
00:57:23.760 --> 00:57:27.920
is a man and a woman,
men and a woman in general, it

700
00:57:28.000 --> 00:57:30.800
is rare that there are three women
and a man in general majority men and

701
00:57:30.840 --> 00:57:36.559
a woman. Perhaps the woman won' t open her mouth during the whole

702
00:57:36.639 --> 00:57:40.639
meeting that entrepreneurs always talk about,
the men, then on the other side,

703
00:57:40.760 --> 00:57:45.559
if there' s the sensitivity of
a woman that we know that happens

704
00:57:45.639 --> 00:57:50.679
to us there we go to the
direct question to the woman so that she

705
00:57:50.760 --> 00:57:53.760
can expose and that when we ask
her the question, we see the passion

706
00:57:53.840 --> 00:57:54.440
and the thrust that puts her and
how she knows what she' s talking

707
00:57:54.440 --> 00:57:59.000
about. And the vision is totally
different. So good. Today WINBSS has

708
00:57:59.320 --> 00:58:05.559
three hundred women working in the world
of investment, two hundred and seventy funds

709
00:58:05.599 --> 00:58:10.360
represented from more than 26 countries between
Latin America, the United States and Europe.

710
00:58:10.559 --> 00:58:15.000
Equality, total equity. They asked
me that question today, Marta.

711
00:58:15.119 --> 00:58:21.920
Today I was asked in another podcast, in an English podcast of The Foros

712
00:58:21.920 --> 00:58:27.920
Grosse. It was actually that they' re all Steef Ows from the UK

713
00:58:28.039 --> 00:58:34.800
and asked me the hof asked me
how I helped an entrepreneur, a woman

714
00:58:34.960 --> 00:58:40.559
to chop in front of men and
I told him talking like a man and

715
00:58:40.679 --> 00:58:45.199
asking for money just like a man, because generally we are all amateur,

716
00:58:45.840 --> 00:58:50.519
we continue little, we are ashamed
to go to ask for money. We

717
00:58:51.360 --> 00:58:55.920
must not ask for what is needed, we must stop, we must not

718
00:58:57.000 --> 00:59:01.000
fight with men, we must consolidate
everything and also use them in our favor,

719
00:59:01.199 --> 00:59:07.320
as I say, to present ourselves
forcefully, energetically, with some speeches

720
00:59:07.599 --> 00:59:12.519
more similar to them so that they
understand us better. Sometimes you have to

721
00:59:12.559 --> 00:59:15.679
do that, you have to mix
it up that way, because many times

722
00:59:15.719 --> 00:59:19.320
women opt for each other, we
are afraid of the questions they ask us.

723
00:59:19.920 --> 00:59:22.239
It is true that they lead us
on a different path. The disos

724
00:59:22.320 --> 00:59:29.559
we want to present in that picheo
and the reality is that most of the

725
00:59:29.639 --> 00:59:32.360
time ends in that women cost us
a lot more time to pool the money.

726
00:59:34.239 --> 00:59:38.519
It is necessary for our project to
advance, and there are many who

727
00:59:38.559 --> 00:59:45.039
are falling down the road because they
are singing. It' s like exhausting,

728
00:59:45.719 --> 00:59:49.320
but the reality is that that one
today asked me that and says look

729
00:59:49.360 --> 00:59:53.559
at the women that I' ve
tried to help so that they can go

730
00:59:53.639 --> 00:59:58.880
up capital and make them a little
bit of the good speech and how you

731
00:59:59.119 --> 01:00:04.880
' re going to present yourself to
Livros, because if he introduces you as

732
01:00:04.960 --> 01:00:05.719
we usually introduce ourselves, it'
s very difficult to get you down to

733
01:00:05.719 --> 01:00:08.199
imbartir. You have to have today
for tomorrow that you' re evolving.

734
01:00:08.280 --> 01:00:13.000
This and we don' t have
to kind of disguise ourselves in that sense.

735
01:00:13.800 --> 01:00:19.039
But today this happens and the reality
that I see good results when they

736
01:00:19.119 --> 01:00:22.360
go that way, when they go
a little bit like good and I am

737
01:00:22.599 --> 01:00:28.360
a woman and the questions that they
ask me and I find it difficult to

738
01:00:28.480 --> 01:00:30.119
answer it or they are taking me
to a place where I don' t

739
01:00:30.119 --> 01:00:34.960
want to go how I return here. That is, all these strategies have

740
01:00:35.000 --> 01:00:40.920
to be practiced, tell the total
dream, because the issue is that investors

741
01:00:42.360 --> 01:00:45.000
invest to have returns, as you
say, generate impact, but have returns,

742
01:00:45.880 --> 01:00:49.519
because so we can have another fund
to be able to continue investing.

743
01:00:49.880 --> 01:00:53.440
It' s a question. Let' s say long- term sustainability.

744
01:00:53.559 --> 01:01:00.400
Long- term viability and sustainability.
Not then do women have we just see

745
01:01:00.480 --> 01:01:06.039
to say that we' re going
to do what, that we' re

746
01:01:06.119 --> 01:01:07.039
ninety- eight point, nine percent
sure that we' re going to be

747
01:01:07.039 --> 01:01:15.599
able to meet it. So the
reality is that that' s very true,

748
01:01:15.079 --> 01:01:19.840
because you have an idea, you' re looking at a market,

749
01:01:20.559 --> 01:01:24.039
you' re developing a project,
and a lot of good things can happen

750
01:01:24.039 --> 01:01:24.039
and a lot of things that can
slow down the project a little bit.

751
01:01:24.559 --> 01:01:30.880
But if I have in my head
that I want to do something very big

752
01:01:30.079 --> 01:01:35.679
that really means impacting hundreds of thousands
of people and that' s going to

753
01:01:35.760 --> 01:01:38.519
bring me a bill that, deep
down, will allow you to have an

754
01:01:39.440 --> 01:01:43.320
acceptable return, then, that'
s where I say wow. This woman

755
01:01:43.440 --> 01:01:47.400
is, she' s thinking big
and has the ability to take it forward

756
01:01:47.559 --> 01:01:52.800
for her and the team she formed. That is also the difference between empowerment

757
01:01:52.920 --> 01:01:58.239
and providing security for women. I
like this second one better, which is

758
01:01:58.320 --> 01:02:01.840
how to generate security by giving also
equity, the way of being that they

759
01:02:01.880 --> 01:02:07.639
learn to ask to do so and
because we are summus equal circumstances. But

760
01:02:07.719 --> 01:02:10.840
yes, we must always give ourselves
the equity to be in that same balance

761
01:02:10.880 --> 01:02:15.360
of both people, both men and
women. Of course, Marta, I

762
01:02:15.400 --> 01:02:20.239
' m sure that in this podcast
you' re listening to us watching emperors

763
01:02:20.360 --> 01:02:23.000
they' re going to want contacts
in one way or another to invest your

764
01:02:23.119 --> 01:02:29.239
pich dec to greet you, to
contact you in a way they can look

765
01:02:29.320 --> 01:02:30.559
for you, contact you at social
torses or a contact point. Okay.

766
01:02:30.639 --> 01:02:35.159
The truth is that I' m
one of the ones who try to answer

767
01:02:35.360 --> 01:02:37.519
absolutely everything is costing me more and
more. I' m telling you honestly,

768
01:02:38.360 --> 01:02:42.920
and I don' t want to
put artificial intelligence tools into answering messages.

769
01:02:43.239 --> 01:02:47.800
This is the reality and I always
do it completely personalized. This so

770
01:02:47.840 --> 01:02:53.639
well, yes in general by Linkedin
is like the easiest thing, because well

771
01:02:54.000 --> 01:02:59.760
I get the message live and consult
it, because if I enter the box

772
01:03:00.199 --> 01:03:06.079
of mails out there I take much
longer, because really among all the companies

773
01:03:06.199 --> 01:03:08.920
of the portfolio, plus the internal
issues of the company and so on,

774
01:03:09.360 --> 01:03:13.920
it is like they are getting very
down. From there it is really where

775
01:03:14.199 --> 01:03:17.000
if the project is within our investment
thesis. That' s where I'

776
01:03:17.079 --> 01:03:22.000
m asking you to send it to
me by e- mail and I'

777
01:03:22.519 --> 01:03:27.719
m sending you the e- mail
to send it to me and get into

778
01:03:27.800 --> 01:03:28.639
the CRRM so we can follow up
with the rest of the analysts. But

779
01:03:28.760 --> 01:03:31.800
what I do ask and this space
suits me very well. Thank you for

780
01:03:31.880 --> 01:03:36.280
the question. It' s two
things. The first is a lot of

781
01:03:36.360 --> 01:03:37.519
writing and I' m told I' d like to have a meeting with

782
01:03:37.519 --> 01:03:43.920
you. They don' t tell
me too much for what or how,

783
01:03:44.119 --> 01:03:47.000
but the reality that it' s
impossible to take all the meetings maximum when

784
01:03:47.000 --> 01:03:49.400
I don' t know very well
for what. Many times I want you

785
01:03:49.440 --> 01:03:52.519
to give me the opinion about my
fith deck and the truth that, unfortunately,

786
01:03:53.320 --> 01:03:57.239
I would love to be able to
do it with everything that comes to

787
01:03:57.239 --> 01:03:59.360
me, but it is impossible for
me. I can' t do it

788
01:03:59.440 --> 01:04:03.280
unless they realize they' re deep
inside my investment thesis. So, those

789
01:04:03.360 --> 01:04:10.840
who want to send the pitch deck
and start analyzing them first visit our site

790
01:04:10.960 --> 01:04:16.480
at XCP BICI, which is very
clear. What is our investment thesis,

791
01:04:16.960 --> 01:04:23.719
at what time to present at XCTP, what are the places where they can

792
01:04:23.800 --> 01:04:29.159
enter so that they can be cared
for, because, obviously, there are

793
01:04:29.239 --> 01:04:32.800
offices in Mexico, there are responsibilities
in Mexico, in Brazil, because those

794
01:04:33.039 --> 01:04:36.239
routes are also super and they see
it on the webside. In which country

795
01:04:36.360 --> 01:04:41.599
are each of the members who appear
with the photo. Then it' s

796
01:04:41.599 --> 01:04:45.960
easier. So let' s say
that would be the way and for those

797
01:04:46.239 --> 01:04:51.079
who are very enchanted entrepreneurs to apply
entrepreneurs to LAC if they go on the

798
01:04:51.079 --> 01:04:57.320
web, to undertake to apr there
is an application form and they are part

799
01:04:57.360 --> 01:05:01.320
of the community and they can start
interacting with the entrepreneurs and with all the

800
01:05:01.639 --> 01:05:05.239
investors that we are part of that
we are behind the platform and, in

801
01:05:05.320 --> 01:05:13.280
the event that there are investors who
are listening to them and when I say

802
01:05:13.360 --> 01:05:17.199
investors they can be from junior analysts
to fund GPS who want to apply to

803
01:05:17.320 --> 01:05:23.679
our community of women investors, where
we also strengthen the role of women investors

804
01:05:23.760 --> 01:05:29.599
and we have mentoring programs and others
that can apply to wim BSS, the

805
01:05:29.599 --> 01:05:30.239
TAMTOR and also form part of the
community. And so we complete the ching

806
01:05:30.280 --> 01:05:36.480
and shan of the ecosystem in return
and investment with fantastic gender diversity. So,

807
01:05:36.760 --> 01:05:42.039
Mars, thank you so much for
your participation, thank you for adding

808
01:05:42.199 --> 01:05:44.760
value to this episode today. I' m sure a lot of people who

809
01:05:44.840 --> 01:05:47.440
listen to us are watching us are
going to be delighted with your talk today

810
01:05:47.519 --> 01:05:50.079
and they' re going to want
to contact you. You know, don

811
01:05:50.199 --> 01:05:54.199
' t send a cold e-
mail. Better send directly by linking more

812
01:05:54.320 --> 01:05:59.599
information about who you are your project
or before you see the page, from

813
01:05:59.719 --> 01:06:03.320
the Next p BC website to give
you an idea of how you can connect

814
01:06:03.320 --> 01:06:05.599
it. It' s actually that
today, the digital part is so much

815
01:06:05.639 --> 01:06:10.840
information that suddenly you have to stop
seeing or not seeing all the emails or

816
01:06:10.880 --> 01:06:14.000
not seeing all the messages and just
seeing those that you think will contact you.

817
01:06:15.559 --> 01:06:21.320
Marta, thank you very much,
Marta Cruz from Next p Venture here.

818
01:06:21.440 --> 01:06:25.440
I thank you for your time,
your focus and, above all,

819
01:06:25.960 --> 01:06:30.800
I thank you for your good coffee
talk that you just gave us today and

820
01:06:30.159 --> 01:06:32.360
we hope to see you in a
next episode. Thank you very much,

821
01:06:32.960 --> 01:06:39.599
Marta, thank you, until the
next carina. Thank you, thank you,

822
01:06:40.559 --> 01:06:45.239
thank you, and in programs that
listen to us entrepreneurs, starters and

823
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mesonists, thank you for being here. She was Marta Cruz, as we

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always promise to pray courageously with our
great guests. I hope you liked it

825
01:06:50.960 --> 01:06:55.159
and we will see the next episode
of startups that offi Tolks to the eye

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01:06:55.199 --> 01:07:02.199
and see you soon. Thank you. Thank you for joining us in one

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more episode of Starkkups, g P
and Tolks TE. We hope in our

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next chapter register for free on our
online platform Startups Com, where you can

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incubate and accelerate your startup with the
best training courses for entrepreneurs, live mentoring

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01:07:18.719 --> 01:07:26.719
and even develop your beach deck to
raise capital in our network of investors startuks

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intuition starts with up of thy