IDB Lab Invests in Cometa IV to Support High-Growth Technology Startups

WASHINGTON - IDB Lab, the innovation and venture arm of the IDB Group, announced the approval of a $10 million investment in Cometa IV, a venture capital fund that will invest in early-stage technology companies with high growth potential across Latin America and the Caribbean.

Cometa IV expects to invest in approximately 23 technology-based startups, with a focus on financial services infrastructure (fintech), software-as-a-service (SaaS) solutions, and other business-to-business (B2B) business models that use technology to address structural inefficiencies and create new opportunities in sectors such as education, health care, and business services.

IDB Lab's investment will support Cometa IV's regional expansion by connecting the fund with investment opportunities in emerging ecosystems and strengthening its capacity to measure the results generated by its portfolio companies. IDB Lab will also support the fund manager in attracting new institutional and development investors and will facilitate connections with networks and co-investment opportunities within the IDB Group ecosystem.

The investment continues the relationship between IDB Lab and Cometa, which began in 2021 with a $4 million investment in Cometa III. Through its previous funds, Cometa has backed companies that have expanded access to financial services, supported small and medium-sized enterprises, created jobs, and developed digital education solutions across markets in the region. With Cometa IV, IDB Lab seeks to deepen this collaboration and broaden the regional reach of the fund manager's strategy.

The operation is part of IDB Lab's strategy to support regional venture capital funds that expand access to financing for technology companies and connect ecosystems across Latin American and Caribbean markets. It is also aligned with the IDB Group's IDBImpact+ strategy, which promotes sustainable and inclusive economic growth grounded in knowledge.

About IDB Lab

IDB Lab is the innovation and venture arm of the Inter-American Development Bank Group. We focus on entrepreneurship and technology to cocreate solutions for development challenges and spark new industries for growth in Latin America and the Caribbean. IDB Lab supports high-impact startups and the innovation ecosystems they need to thrive through flexible financing, practical knowledge, and global connections. www.idblab.org

About Cometa

Cometa is a Mexico-based venture capital firm that invests in high-growth technology companies across Latin America and the Caribbean. Through its funds, it has invested in more than 40 companies in Argentina, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay, focusing on businesses that use technology to transform industries and develop scalable solutions for the regional market. https://www.cometa.vc/