The Stanford connections behind Latin America’s multi-billion dollar startup renaissance
The houses along the tree-lined blocks of Josina Avenue in Palo Alto, with their big back yards, swimming pools and driveways are about as far removed from the snarls of traffic, sputtering diesel engines, and smoggy air of South America’s major metropolises as one can get.
But it was in one of those houses, about a twelve-minute bicycle ride from Stanford University, that the seed was planted for what has become a renaissance in technology entrepreneurship in Latin America.
Back in 2010, when Adeyemi Ajao, Carlo Dapuzzo, and Juan de Antonio were students at Stanford’s Graduate School of Business they could not predict that they would be counted among the vanguard of investors and entrepreneurs transforming Latin America’s startup economy.
At the time, Ajao was negotiating the sale of his first business, the Spanish social networking company, Tuenti, to Telefonica (in what would be a $100 million exit). Carlo Dapuzzo was in Palo Alto taking a break from his job at Monashees, which at that time was a small, early-stage investment fund based in Brazil focused on investing in Latin America. Juan de Antonio had left a job as a consultant at BCG to attend Stanford’s business school