Alter Global Research
Investment Thesis and Philosophy
Alter Global is an early-stage venture capital firm founded in 2015 at Stanford GSB that catalyzes emerging tech ecosystems by backing the world's boldest founders in overlooked markets. The firm's core thesis centers on identifying and scaling role-model founders who create outsized value in their nations through technology-driven ventures.
The firm's mission is fundamentally different from traditional aid-focused approaches: "We believe in the power of tech unicorns to create millions of jobs, put food on the table, and transform a nation." Alter aims to create "tech mafias" similar to the PayPal Mafia in Silicon Valley—where initial success stories attract more investors and the original team goes on to fund the next generation of unicorns.
Alter's approach recognizes that emerging markets contain undiscovered high-character, high-competency founder teams leading scalable ventures. The firm boldly goes to overlooked places and builds networks to identify and support these founders.
Geographic and Market Focus
Alter invests across emerging markets:
- Latin America: Colombia, Mexico, Argentina, Brazil, Guatemala
- South and Southeast Asia: India, Indonesia, Bangladesh
- Middle East and Africa: Egypt, Pakistan, Nigeria, and other MENAP regions
The firm has explored 16 emerging tech cities since 2015 and maintains deep local networks in each region.
Investment Approach and Portfolio Strategy
Alter's investment philosophy emphasizes:
- Finding exceptional founders: Highest character and competency management teams
- Founder-led ecosystem building: Selected founders become scouts for the next generation
- Scaling support: Providing portfolio companies with talent, expertise, and networks needed to scale
- Role-model founders: Creating success stories that catalyze entire tech ecosystems
- Local network leverage: Deep connections in each emerging tech city
The firm has built a network of 28+ "Alter Entrepreneurs" who become ambassadors for identifying the next wave of founders.
Portfolio and Investment Focus Areas
Alter's 28+ portfolio companies span diverse sectors aligned with emerging market needs:
Fintech & Financial Services
- Pomelo (Argentina): Financial services infrastructure enabling virtual accounts and card issuance
- Klub (India): Revenue-based financing for digital businesses without equity dilution
- Capa (Mexico): B2B payment solutions connecting LATAM to global finance via crypto
- Divibank (Brazil): Revenue-based financing for LATAM startups
- Iniciador (Brazil): Payment and banking infrastructure for Pix and open finance
- ABHI (Pakistan): Earned wage access and payroll solutions for MENAP region
- Clara (Mexico): B2B business credit card and payment platform for LATAM
Logistics & E-Commerce
- Melonn (Colombia): Logistics and fulfillment for SMB e-commerce
- Chiper (Colombia): Technology for corner stores and product suppliers
- Flextock (Egypt): Order fulfillment optimization for SMB retail e-commerce
- Shipper (Indonesia): E-commerce logistics platform
- Kargo (Indonesia): Full-stack freight logistics marketplace
- Sooper (Brazil): B2B marketplace for building materials
- Facily (Brazil): Social commerce platform for group buying
SMB Enablement & Digital Transformation
- Sumer (Colombia): Tech to digitize micro and small businesses
- Bazaar (Pakistan): Digital operating system for micro and SMBs
- Kippa (Nigeria): Finance management and business tools for SMB owners
- Inventa (Brazil): Purchasing platform for small retailers
Healthcare & Wellness
- Yana (Mexico): AI-powered digital mental health platform for Spanish speakers
- Amenli (Egypt): Direct insurance purchasing platform
- Azos (Brazil): Personalized insurance services for Brazilian consumers
- Gabriel (Brazil): Smart city and public safety technology
Education & Skills
- CoLearn (Indonesia): Digital tutoring platform connecting students with educators
- Maqsad (Pakistan): Mobile-native academic support for schoolchildren
- Vinco Educación (Mexico): Continuing education and employee learning platform
Technology & Infrastructure
- Nitex (Bangladesh): Apparel design labs and materials innovation
- Nestcoin (Nigeria): Crypto payment platform for Africa
- Jota (Brazil): AI platform automating finance and operations
Team and Leadership
Jesse Sullivan - Founder and Partner One of the founding partners with deep expertise in building emerging tech ecosystems and identifying exceptional founders.
Allen Taylor - Founding Board Member and Partner Brings strategic vision and network to the fund.
Yana Yasevich - Partner, Head of Platform Our investor, leading portfolio support and platform initiatives. Previously co-founded a wellness company in San Francisco. Provides operational guidance and ecosystem building support to portfolio companies.
Fernando Caputo - Investor, Latin America Regional expert focused on Latin American investments and founder relationships.
Heba Abu Ahmed - Investor, Middle East and Africa Regional specialist managing investments and partnerships across MENAP region.
LP and Advisor Network
Alter has attracted top-tier LPs and advisors who believe in emerging market potential:
- Chris Larsen (Ripple Co-founder & Executive Chairman)
- Gerald Risk (Asurion Vice Chairman)
- Ross Jones (Berkshire Partners Managing Director)
- Murtaza Ahmed (SoftBank Managing Partner)
This network provides portfolio companies with access to world-class expertise and subsequent investment opportunities.
Impact and Value Proposition
Alter's value extends beyond capital:
- Alter Fellows program providing 500+ employee hours of operational support per company
- Direct access to Stanford GSB network and Silicon Valley expertise
- Local market expertise across 16 emerging tech cities
- Ongoing founder support and ecosystem building
- Access to network for talent, partnerships, and follow-on capital
Fund Structure and Stage
Based on portfolio composition, Alter invests:
- Stage: Early-stage (seed through early growth)
- Focus: Founder-led companies addressing emerging market-specific problems
- Approach: Patient capital with deep operational involvement