A $10 million commitment from the private sector arm of the Inter-American Development Bank brings Bicycle Capital’s funding to more than $450 million toward its goal of $500 million.
The Miami and São Paulo-based firm backs growth-stage tech companies serving small businesses in Latin America and the Caribbean. It is filling a capital gap for growing e-commerce, fintech and software companies serving the region’s more than 17 million micro, small and mid-sized enterprises, which employ 60% of the workforce but face persistent lack of access to financing, digital infrastructure and other barriers to growth.
Bicycle launched in 2022 and secured a $440 million anchor commitment from Mubadala Investment Company. It’s among the largest funds run by a first-time manager in the region.
VC chops
Bicycle is led by former SoftBank executives Marcelo Claure and Shu Nyatta. Claure previously led telecom giant Sprint and SoftBank Group International, while Nyatta co-founded SoftBank’s Latin America and Opportunity Fund.
Its investments include Cayena, a Brazilian B2B marketplace for which it led a $55 million Series B round. It has also backed Fina Partner, a Venezuela-based business automation service provider, and Mottu, which offers motorcycle rental for delivery workers.
