YPF Ventures has made its first investments in distributed solar generation company Sustentator and in urban micro-mobility company Bird Technologies
Image: YPF Ventures has made its first investments in Sustentator and Bird Technologies. Photo: courtesy of rawpixel/Pixabay.
Argentina’s YPF has launched a new corporate venture capital fund, called YPF Ventures, aimed at helping innovative energy companies based in the US to expand into Latin America.
According to the Argentine energy company, YPF Ventures distinguishes itself from other corporate energy venture funds by combining a usually early stage venture capital fund with a growth equity vehicle.
The new venture capital fund is expected to tap into YPF’s significant retail footprint and in-market presence across Latin America.
What YPF Ventures plans to do
It will operate two models – the bridge fund and the seed fund. The bridge fund will be used for linking the hubs where energy innovation is carried out and Latin America.
Through the bridge fund model, YPF expects to put its full weight as a Latin American major behind its portfolio firms, which in turn will help attract the world’s top innovation to the company.
The second model, which is the seed fund, will be used for creating and promoting an ecosystem of innovation in Latin America. This fund will double the existing capital for cleantech entrepreneurs in the region and will leverage the top engineering talent and the hundreds of millions in energy research and development by local governments.
YPF president Miguel Gutiérrez said: “To lead an energy business in the current environment, we need to stay ahead of the curve and combine vision and innovation, two key assets that will enable us to deepen our purpose and change the lives of Argentines through energy.
“With the launch of YPF Ventures, we will be able to attract innovation to Latin America while also playing a relevant role in promoting the ecosystem of Argentine entrepreneurial talent.”
YPF Ventures has started its journey by investing in Argentine distributed solar generation company Sustentator, and in urban micro-mobility company Bird Technologies, which distributes electric scooters in big cities.
YPF CEO Daniel González said: “Like oil exploration, a venture capital fund enables us to perform high-risk testing with low capital investment and the potential to unlock high value in a short time period. YPF Ventures captures and keeps the entrepreneurial spirit of our company, imprinting it on the current trends of innovation and technological disruption.”