Quasar Ventures, a Buenos Aires, Argentina-based company builder focused on creating innovative technology businesses in Latin America and abroad, has launched with $5.4m in funding.
The round was led by Silicon Valley venture capital fund Emergence Capital Partners, with participation from Peter Kellner, Martin Migoya and Guibert Englebienne, Alejandro Tamer and Roby Souviron, CAP Ventures, Wenceslao Casares and Micky Malka, Alex Mendez, Silvia Torres Carbonell, Verónica Serra from Pacific Investimentos and Gustavo D’Alessandro.
The company plans to use the capital to develop ten new technology companies globally in the coming four years.
Led by former Officenet executives Andy Freire, Santiago Bilinkis and CEO Pablo Simon Casarino, Quasar is trying to introduce a different concept called “parallel entrepreneurship.” According to a written statement, the format intends to turn the typical startup formula on its head by identifying strong business models, selecting them as projects, and then getting the best entrepreneurs to partner in order to implement them.
Quasar offers seed capital as well as access to its global network.