The Japan International Cooperation Agency (JICA) signed an investment agreement with Canary IV, GP LLC (“Canary”), which invests in early-stage start-ups in Latin America and the Caribbean, and held a ceremony at JICA’s Kojimachi Headquarters on January 6. The ceremony was attended by Canary co-founder Marcos Toledo, JICA President Akihiko Tanaka, and officials from both organizations.
This project, in collaboration with Canary, will support startup companies with innovative business models and technologies that are working to solve social issues in Latin America and the Caribbean. The project will also collaborate with JICA’s existing start-up support programs, such as the TSUBASA program (TSUBASA | Solving Development Issues in Latin America and the Caribbean with Japanese Start-ups), which supports Japanese start-ups to enter the region, and promote collaboration between companies in the two regions.
The project will be financed in collaboration with development finance institutions such as the International Development Finance Corporation (IFC) and the Inter-American Investment Corporation (IDB Lab), as well as with several private investors.
Ceremony
Project Summary
Investment Partners
CANARY IV, L.P.
Country (region covered)
Latin America and the Caribbean
Capital contribution
US$15 million
Project Name
Startup incubation support business
Business Objectives
This project aims to improve access to finance and the development of products and services for startups in Latin America and the Caribbean by investing in investment funds for seed-stage startups, thereby contributing to the development of the startup ecosystem in the region and the resolution of social issues. The fund will contribute to the development of the startup ecosystem in the region and the resolution of social issues.
Business Overview
Through its investment in CANARY IV, the fund will invest in early-stage startups, mainly seed-stage startups in the Latin America and Caribbean region.
Contribution to the SDGs
Goal 8 (both job satisfaction and economic growth)
Goal 9 (Create a foundation for industry and technological innovation)
Goal 17 (Let’s achieve our goals in partnership)
Other
This project will fall under the “CORE” cooperative framework with the IDB Group.
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