Invexor Venture Partners Research
Investment Thesis
Invexor Venture Partners is a Chilean venture capital firm founded in 2015 by Jorge Rodríguez and Cristián Undurraga, built around one of Latin America's most systematic scouting and acceleration pipelines. The firm partners with the Innovation Center of Pontificia Universidad Católica de Chile (UC) to run the "Discovery-A" program, sourcing over 1,000 startup applications and running more than 300 companies through structured evaluation annually. Their stated mission is to "find a better way for a better future," with an investment philosophy that weighs profitability alongside environmental, social, and governance (ESG) improvements. The firm positions itself as a long-term partner offering expert mentoring and hands-on value creation rather than passive capital.
Sector Focus
Invexor invests broadly across technology-enabled sectors rather than a single vertical: AI/machine learning and computer vision (Kauel, Deepview, Gauss Control, Reite), fintech (BTrust), healthtech and medtech (Trainfes, Pregnostica, Medsolution), biotech/agtech (Phage Lab), edtech (Poliglota), legaltech (Lexgo), proptech (EdiPro), HR/people tech (Umano, Yourney, iHunt), logistics (Shippter), cleantech (Kran, Adclean), and marketplace/retail tech (Lokal, Gregario). This breadth reflects its role as Chile's primary scouting-and-acceleration vehicle rather than a thesis-narrow specialist fund.
Stage Focus
The firm invests from pre-seed acceleration through Series A, with selective follow-on capacity into Series B and growth rounds for standout portfolio companies expanding internationally; five portfolio companies have gone on to raise US Series A rounds at a combined US$400M valuation. Discovery-A functions as the top-of-funnel acceleration program, and graduates that show traction are financed by Invexor's dedicated funds (four to date, including the newest, Discovery II).
Check Size
Typical initial tickets run US$80,000-US$200,000, with special programs and follow-on reserves extending up to US$1,000,000-US$1,500,000 per company. Discovery II, an US$11M fund co-capitalized with US$7M from Corfo, writes checks of US$200K-US$1.5M. Aggregate deployment runs over US$10M annually across roughly 10+ new seed investments per year.
Lead Tendency
Invexor frequently leads or co-leads institutional rounds for its portfolio companies, as with BTrust's 2024 Series Seed ("como líderes de esta operación de aumento de capital"), and typically takes board seats to support execution.
Recent Activity
- August 2026: Invested US$700K in Lokal (B2B retail marketplace) via the Discovery II fund, the first check written to a Discovery-A cohort graduate.
- May 2025: Launched Discovery II, an US$11M fund (with US$7M from Corfo) targeting approximately 13 new investments, already deployed into Soquimat and Reite.
- May 2024: Led a US$1.5M Series Seed round in BTrust, a factoring and invoice-financing fintech.
- June 2026: CEO Jorge Rodríguez spoke publicly about venture capital's role in scaling Chilean startups internationally.
Fund status: actively deploying (Discovery II).
Portfolio Highlights
21+ active portfolio companies include Phage Lab (bacteriophage animal health, later raised a US$30M round from Kaszek and Humboldt), BTrust, Lokal, Kauel, Trainfes, MapVX, Pregnostica, Poliglota, Kran, Gauss Control, Deepview, Medsolution, Umano, Soquimat, Shippter, Lexgo, Adclean, Yourney, Reite, eGenya, iHunt, Gregario, and EdiPro. Five portfolio companies have successfully raised US Series A rounds at a combined US$400M valuation, evidencing the firm's stated bridge from Chilean seed capital to US growth capital.
Team
- Jorge Rodríguez Ibañez, CEO & Managing Partner. Co-founder (2015). MBA from MIT Sloan; systems engineering degree from Pontificia Universidad Católica de Chile. Former Chief Investment Officer for pension and insurance firms across Chile, Argentina, and Brazil. Also Executive Director & Partner at Inverstone Advisors. Active board member across UMANO, Btrust, Lexgo, AdClean, TrainFES, and others.
- Joaquín Köster, COO & Partner. MSc in Strategic Management of Projects, UCL London; postgraduate diploma in Strategy, UDD Chile; Civil Industrial Engineering degree, Pontificia Universidad Católica de Chile. Active board member across multiple portfolio companies.
- Cristián Undurraga, Co-Founder of the Discovery II fund alongside Jorge Rodríguez; also serves on the firm's investment committee.
The firm additionally runs a nine-person investment committee (including Julian Mardones, Hugo Ovando, Cristián Rodríguez Ibáñez, Ivan Diaz Molina, and Sebastian Undurraga Raddatz, among others) that evaluates Discovery-A graduates before funding decisions, alongside board member Juan Montero.
Decision Process
Investment committee-driven: Discovery-A cohort companies present growth plans to a nine-person committee combining Invexor partners and UC Innovation Center representatives before a funding decision is made.
Founder Preferences
Invexor favors technical and scientific founders building IP-defensible technology (bacteriophage biology, computer vision, FES neurotech) with demonstrated early traction and a credible path to US expansion. The firm explicitly retains founder-friendly terms; founders retained more than 75% ownership after the Lokal investment.
Geographic Focus
Headquartered in Vitacura, Santiago, Chile, with primary deal sourcing across Chile and Latin America, and a stated secondary focus on networking Chilean companies into the United States for Series A financing and beyond.