Ualá CEO's $30M fund 17Sigma backs 20-plus Latin American startups
What's the deal? Pierpaolo Barbieri, chief executive officer of Argentine neobank Ualá, is backing early-stage Latin American startups through 17SigmaDealroom has a profile for this one. Try Dealroom →, a venture capital fund he founded in 2022 with $30 million in initial capital. The fund has invested in more than 20 companies across the region.
Who's behind it? Barbieri co-founded 17Sigma with Bianca Sassoon, now its managing partner. Backers include General Catalyst, Marcelo Claure, Kevin Ryan, Niall Ferguson, Paulo Passoni, Alan Howard, and Sebastián Mejía.
What's the endgame? The Argentina-based fund concentrates on pre-seed and seed rounds, targeting technology companies that can scale beyond their home markets. Its portfolio spans fintech, SaaS, agtech, foodtech, health, energy, e-commerce, and Web3.
Who's in the portfolio? The fund backs startups in Argentina, Brazil, Chile, Colombia, Mexico, and Uruguay. Recent moves include Brazilian AI startup AroDealroom has a profile for this one. Try Dealroom → and Argentine startup Patagon AIDealroom has a profile for this one. Try Dealroom →, where 17Sigma joined a $1.1 million initial round and later a $2.75 million seed round.
"We are strategic partners. Our goal is to help entrepreneurs scale from zero to one and provide support during the most critical moments of growth," Sassoon told iProUP (translated from Spanish).
Why now? 17Sigma reported new investments and follow-ons across its portfolio in 2025 and is deploying capital into technology startups through 2026. It continues to seek new founding teams while supporting existing bets through their expansion.
The signal: The strategy gives Barbieri a second foothold in the regional tech ecosystem while Ualá builds out its consumer and business financial services. With a young population, expanding internet access, and sectors still short on technology, Latin America remains a bet on early-stage upside — one 17Sigma is placing before companies have even settled their products or business models.
Read more: iproup.com
Image credit: timsnell
