Manutara Ventures

Investment decisions are led by co-founders Juan Pablo Cappello and Cristobal Perdomo. Cappello previously co-founded Patagon.com and practiced law with an emerging-markets focus; Perdomo brings operating experience across LatAm technology ventures. The firm has not publicly disclosed an investment committee structure beyond the managing partners.

Manutara sources through deep, long-standing networks in Santiago, Mexico City, and Bogotá that require native Spanish fluency and local founder trust — relationships built over a decade of operating in those ecosystems. The firm also works alongside regional accelerators such as Start-Up Chile and tracks technical talent graduating from top LatAm engineering programs. This gives Manutara early visibility into companies that have not yet been surfaced to US-based investors.

Manutara typically co-invests alongside US-based seed and Series A funds rather than leading rounds, reflecting its role as a bridge rather than a capital anchor. This structure allows the firm to concentrate its value-add on US market entry — C-corp formation, sales team buildout, and initial enterprise customer acquisition — while letting lead investors set terms and run diligence processes.

The firm focuses on Latin American-domiciled or Latin American-founded companies targeting US enterprise customers, with a historical concentration in Chile, Mexico, and Colombia. Manutara does not publicly describe a mandate to invest in US-native or European startups — the corridor thesis is specific and has remained consistent across all three funds.

Manutara does not publish an explicit exclusion list, but its portfolio history shows no investments in consumer social, hardware, biotech, or deep-tech sectors. The firm's operational edge — cross-border SaaS and fintech distribution — does not extend to sectors requiring heavy R&D or physical infrastructure, and those appear absent from confirmed positions.

Manutara is structured as a traditional venture capital firm raising commitments from external limited partners across Latin America and the US, rather than as a single-family office. The firm has not publicly identified a single dominant LP or family source of capital, and its SEC filings and fund announcements describe a diversified LP base typical of emerging venture managers.

Co-investment is central to Manutara's model — the firm typically invests alongside lead investors rather than taking the lead itself. This posture allows LPs to access LatAm-originated deal flow with a specialist partner handling regional diligence while US-based GPs run the syndicate, creating a co-investment dynamic rather than a fund-of-funds approach.