Recast Capital and IDB Lab Collaborate to Enhance Venture Ecosystems in Latin America and the Caribbean

Recast Capital and IDB Lab Join Forces for Regional Growth

Recast Capital has proudly announced its three-year collaboration with IDB Lab, the innovation arm of the Inter-American Development Bank Group. This partnership aims to extend the Accelerate program into the burgeoning venture capital landscape of Latin America and the Caribbean (LAC). Through this initiative, known as the LAC Emerging Fund Managers Launchpad, the program will facilitate exchanges between local managers and their U.S.-based counterparts, thereby enriching the regional venture ecosystem.

Venture capital investment in Latin America remains heavily skewed towards a few markets; as reported in LAVCA's 2025 Trends in Tech report, over 70% of venture capital is concentrated in Brazil and Mexico, leaving regions like Central America, the Caribbean, Bolivia, Paraguay, Peru, and Uruguay with minimal funding—less than 5%. Although there is a rising tide of local fund managers prepared to fill this gap, they often lack the support systems necessary to thrive in a competitive environment.

The Accelerate program was initiated in 2023 and has already assisted 79 funds across three cohorts, focusing on the unique challenges that emerging managers face. The program equips them with the resources needed to establish robust firms, ranging from operational support to fundraising assistance. Furthermore, it provides valuable community engagement aimed at alleviating the challenges of isolation that many newcomers face.

The strategic partnership with IDB Lab enhances Recast's existing model, creating tailored experiences for participating managers. Each manager will engage alongside U.S.-based program participants in a comprehensive twelve-month curriculum, which includes a peer pod of General Partners (GPs) at similar stages in their careers, executive coaching, and shared services including investor relations, pitch improvement, sales training, legal support, and fund finance.

Moreover, the contents of the program will be specifically adapted to align with regional contexts, integrating local service providers and addressing the archetypes of limited partners that managers are likely to encounter in LAC. To further develop the local talent pool, Recast will also conduct Aspiring Fund Manager Bootcamps, workshops designed for potential managers such as angel investors and operators exploring opportunities for launching their first fund.

The initiative doesn’t stop there. Recast and IDB Lab are committed to engaging local investors, aiming to demystify venture capital practices and mobilize increased funding for local venture funds. This comprehensive approach seeks to facilitate not only manager support but also builds a bridge to potential local investors who have not yet tapped into the venture capital landscape.

As stated by Courtney McCrea, co-founder of Recast, “The barriers a first-time manager encounters are consistently similar across markets. The Accelerate program brings together managers with experienced peers and advisors ready to share vital insights.” This sentiment resonates with Graham Macmillan, IDB Lab’s General Manager, who underscores the necessity of established, locally rooted fund managers to create a vibrant venture ecosystem capable of supporting innovation-driven companies.

The overarching goal of this collaboration is to construct a sustainable network of talent and investment opportunities capable of spurring economic growth in the region. Through an innovative, three-pronged approach, Recast and IDB Lab aim not just to support existing managers but also encourage new talent, ultimately transforming LAC's venture capital landscape.

As the selection process for the LAC participants unfolds, further details will be communicated. Limited partners and organizations interested in getting involved, along with regional General Partners eager to learn more about the program and Bootcamps, are invited to stay informed by registering their interest through the program's provided channels.

In summary, this collaboration represents a significant leap forward for the LAC venture capital scene—a much-needed push towards a more inclusive and supportive investment environment.

For more information, visit Recast Capital and IDB Lab.