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Latam’s Pacific Alliance and the Arab GCC open door to startup expansion

Quick Summary

This was exactly what happened this week when the Angel Ventures Pacific Alliance Fund II made its way to the Saudi capital of Riyadh to sign an agreement with Saudi Arabian General Investment Authority (SAGIA) to promote early-stage entrepreneurship in both blocs. In this case, the Pacific Alliance was dealing with its Arab counterpart in the form of The Cooperation Council for the Arab States of the Gulf (GCC). By signing this accord, the alliance of Mexico, Peru, Chile, and Colombia becomes the first Latin American regional bloc to venture into this part of the world. This is the sort of thing the Pacific Alliance is primed to do. In the words of Angel Ventures’ Managing Partner, it’s all about “opening doors to greater internationalization.”Related articles: Tech and startups in Peru!

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