Carao Ventures
VC Fund
San José, Costa Rica
Carao Ventures is a VC fund in San José focused on Financial Services and FinTech. Carao was founded in 2012 in San José, Costa Rica and is led by Allan Boruchowicz. It is a pioneering and leading VC firm in Central America, with active investments in startups in the software, biotech, healthtech, fintech, artificial intelligence (AI), construction tech, and other industries. Carao has a distinctive business model specially designed to invest in early-stage venture opportunities in small- and medium-sized countries in LatAm, a market with significant potential but underdeveloped financial resources for high-potential emerging companies. Its differentiated investment approach combines best practices from early-stage VC firms, venture-building, and startup accelerator programs into a value proposition for both promising startups and sophisticated investors with an interest in frontier markets. Carao managed one of the largest and most active angel investor networks in LatAm, the Carao Ventures Investor Club, which was comprised of 40+ members by the end of 2020, predominantly business owners, high-level corporate executives, high net-worth individuals, and family offices from Central America, Colombia, the U.S., Switzerland, and Italy. As of June 2021, Carao launched Carao Ventures Fund I, a $35 million VC vehicle focused on Latin America (the "Fund"). The Fund’s intended geographic focus consists of: (i) primarily, Central America (including Panama), North Andean region (Colombia, Peru, and Ecuador), and the Dominican Republic; (ii) secondarily, investment opportunities in Argentina, Chile, and other small- and medium-sized LatAm countries (except for Brazil); and (iii) lastly, investment opportunities in Mexico or led by founders from the Target Markets in the U.S. shall be considered as Opportunistic Investments.
- Total investments:
- 89
- Last investment:
- Lead investor:
- 40%
- Fund size:
- $35M
- Last fund:
Last updated:
For AI agents: llms.txt
Industries Carao Ventures invests in
Stages Carao Ventures invests in
Countries Carao Ventures invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
| See all 6 contacts → | |||
Round size
- Seed
- $500k–$5.5M
- Pre-Seed
- $30k–$1.5M
- Venture - Series Unknown
- $160k–$10M
Investment Focus
Industry
- Financial Services 8 (9%)
- FinTech 7 (8%)
- Software 7 (8%)
- E-Commerce 6 (7%)
- Health Care 5 (6%)
Stage
- Seed 30 (34%)
- Pre-Seed 11 (12%)
- Venture - Series Unknown 8 (9%)
- Series A 6 (7%)
- Convertible Note 5 (6%)
Country
- United States 11 (12%)
- Costa Rica 9 (10%)
- Mexico 5 (6%)
- Chile 4 (4%)
- Colombia 3 (3%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Allan Boruchowicz
Founder and Managing Partner
|
Founder and Managing Partner | Total investments: 63 | Find email | |
Damian Barrios
Operations Manager
|
Operations Manager | Total investments: 0 | Find email | |
Edwin Meyers
Senior Associate
|
Senior Associate | Total investments: 1 | Find email | |
Freddy Fachler
Partner and Legal Counsel
|
Partner and Legal Counsel | Total investments: 0 | Find email | |
Jose Miguel Alfaro
Legal Counsel
|
Legal Counsel | Total investments: 0 | Find email | |
| See all 6 team members → | ||||
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| We automate, optimize, and enhance various operational processes. This includes tasks such as document processing, fraud detection, customer support, risk assessment, compliance monitoring, and transaction management. By integrating AI into these workflows, institutions can reduce manual effort, increase processing speed, and improve accuracy,resulting in more efficient operations and better customer experiences. | $4.6M / Seed / Jun 16, 2026 | ||
| Full stack, digital car insurance | $13.6M / Jun 05, 2025 | ||
| Aviva is building an AI-powered digital bank for Latin America’s underserved communities. While determined to fuel Latin America’s ongoing emergence of a new middle class with a fully-fledged portfolio of inclusive financial services, Aviva’s initial go-to-market concentrates on unsecured credit products for individuals and nano-businesses inMexico.As most of the underbanked 40+ million Mexicans live in small and medium-sized towns, Aviva builds a bridge to those living in remote communities with its physical onboarding kiosks. These nano-branches provide a documentless 3-minute video onboarding for everyone in need of liquidity. Novel AI-based technology, including natural language processing, allows Aviva to match customers’ spoken word to the fields of a comprehensive real-time credit application. Transforming speech to text and inferring emotions and personality from the visual layer of the application video gives Aviva an edge in scoring thin-file customers. Leveraging these novel risk models, Aviva aims to provide the lowest interest rates available to today’s underserved. | $6.5M / Seed / May 09, 2025 | ||
| Strike delivers continuous hybrid validation by combining AI-led threat emulation with human expert oversight to proactively identify and remediate security vulnerabilities at scale. Founded in 2021, the platform enables organizations to continuously test deeply their attack surface — including web applications, APIs, mobile apps, cloudinfrastructure, and internal networks — through AI-led threat emulations validated by world-class security experts known as Strikers.At the core of Strike's approach is the belief that neither AI nor humans alone are enough. Its proprietary engine, Strike360, automates the full testing lifecycle — from discovery and exploitation through retesting and remediation — while certified security experts provide contextual oversight for critical assets, ensuring depth and accuracy that automation alone cannot achieve.Every engagement is fully transparent: human tester activity is recorded through a proprietary VPN and merged with AI-led testing logs, producing an auditable trail that sets a new standard for visibility in offensive security. Organizations can launch threat emulations autonomously (triggering them from Git) or on demand, receive real-time vulnerability alerts with actionable remediation guidance, and validate fixes through automated retesting — reducing detection cycles from months to seconds.Seamless integrations with Jira, Slack, Teams, and API bridge the gap between security and development teams, while built-in compliance automation streamlines certifications including SOC 2, ISO 27001, HIPAA, and PCI DSS. Strike's Phishing Monitor also detects impersonation domains targeting client brands.Trusted by over 100 enterprises across finance, technology, healthcare, and insurance — including Santander, Mercado Libre, Okta, Globant, DeliveryHero, and Naranja X — Strike serves clients across Latin America, the U.S., and Europe. The company raised a $13.5M Series A in March 2025 led by FinTech Collective, with participation from Galicia Ventures, Greyhound Capital, FJ Labs, Canary, and others.Headquartered in New York with a remote-first global team. Recognized as a Challenger and Fast Mover in the GigaOm Radar 2025. | $13.6M / Series A / Mar 26, 2025 | ||
| Clicoh is a startup born in Cordoba, Argentina in 2018 that provides fulfillment and logistics solutions through innovation and technology for digital companies in Latam. | $1M / Series A / Feb 07, 2025 | ||
| Caldo Restaurant Technologies is a robotics company that provides kitchen automation technology. OCTO, their initial product, is an automated makeline that handles the "last-mile of cooking." In a nutshell, the system acts as a robotic helper for kitchen personnel, handling ready-to-eat items, processing incoming orders, and autonomouslypreparing bespoke meals in a safe, timely, and waste-free manner. Their Runner.OS software controls incoming orders automatically, so that stations that would usually require an extra pair of hands are never overcrowded. | $500K / Seed / Dec 17, 2024 | ||
| BîldTEK increases productivity and quality of construction by integrating design and technology of computer-assisted production. They believe in intelligent design. They know there is a better way to build using a simplified process that reduces the environmental impact and ensures structural precision . Use of building information modeling (BIM)and a controlled manufacturing process to produce structures of cold-formed steel for residential and commercial construction. | $540K / Convertible Note / Dec 16, 2024 | ||
| Speratum is a biopharmaceutical company focused on microRNA-directed oncology therapies. The Company was founded in 2014 by Christian Marín-Müller, Ph.D. and is dedicated to the development of a patented treatment for pancreatic cancer based on the combination of tumor suppressive microRNA molecules and nanoparticle-based drug deliverytechnologies. The Company is currently entering the final stage of preclinical trials for the pancreatic cancer therapy, while simultaneously expanding the patent’s coverage to incorporate other types of cancer and non-cancer indications and illnesses and expanding its intellectual property (IP) portfolio with complementary technologies in the fields of nanotechnology, medical devices and veterinary medicine. | $581.3K / Convertible Note / Nov 05, 2024 | ||
| Floid is an open banking platform that facilitates the development of applications, payment solutions, and risk engines.Thousands of people now have access to risk evaluations and payment options on a secure platform, away from situations conducive to fraudulent conduct, because to the company's API, which connects consumers' bankaccounts with organizations in the financial industry.It was founded in 2019 and is based in Las Condes, Santiago Metropolitan Region. | $1.5M / Venture - Series Unknown / Aug 28, 2024 | ||
| Full stack, digital car insurance | $500K / Venture - Series Unknown / Aug 16, 2024 | ||
| See all 89 investments → | |||
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FAQ
What does Carao Ventures invest in?
Carao Ventures invests primarily in Financial Services, FinTech and Software startups, most often at Seed and Pre-Seed stage. Most of the 89 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What round sizes does Carao Ventures invest in?
Carao Ventures typically joins rounds of $500k–$5.5M at Seed, $30k–$1.5M at Pre-Seed and $160k–$10M at Venture - Series Unknown. These are whole funding-round sizes, not Carao Ventures's own check, which is rarely disclosed: the 10th–90th percentile of the confirmed public funding rounds Carao Ventures took part in.
How do I contact Carao Ventures?
Public channels for Carao Ventures include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Carao Ventures?
The team at Carao Ventures includes Allan Boruchowicz (Founder and Managing Partner), Damian Barrios (Operations Manager) and Edwin Meyers (Senior Associate), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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