Kiara Capital, a Miami-based VC firm launched by serial fintech entrepreneurs, announced the first close of its inaugural fund. This fund focuses on early-stage B2B fintech startups operating in Latin America and cross-border markets linked to the US.
Launched in 2023, Kiara Capital specializes in early-stage investments, from pre-seed to seed. Since its founding, the firm has reviewed 160+ opportunities and made five investments, including Astride, a U.S.-based fintech providing accounting solutions for foreign investors, and Payana, a platform using AI to enhance financial operations for small and mid-sized businesses in Mexico and Colombia. And Kiara’s current portfolio spans startups in Brazil, Mexico, Colombia, and the U.S., with about $2 million already deployed.
This fund was co-founded by Michael Esrubilsky and Daniel Arippol. Esrubilsky brings over 25 years of experience in fintech, with four successful fintech exits in Brazil totaling nearly $1 billion. And as an angel and seed investor, he has built a track record of 14 investments with a 9.8x multiple on invested capital (MOIC) and a 45%+ internal rate of return (IRR) in US dollars. Arippol complements the team with more than 15 years of experience in private equity, venture capital, and innovation across emerging markets. He also served as an advisor to multiple high-growth technology and financial services companies operating in both Latin America and the United States.
After validating an investment thesis using only partner capital, Kiara Capital has now opened its first external fundraising round. This fund targets $30 million, with the potential to close at $40 million. Investors include founders, bank CEOs, VC partners, and family offices with strong interest in fintech and financial innovation. The founding partners remain the largest investors in the fund, ensuring strong alignment with LPs.
Kiara Capital also aims to build a high-conviction portfolio of 15 to 20 startups, with initial checks starting at $500,000 and substantial reserves allocated for follow-on rounds. And the fund is structured in the United States to support global flexibility while maintaining a strong emphasis on Latin American and US cross-border markets.
KEY QUOTES:
“Opening the fund to outside investors is a natural next step — one that expands our investment capacity while maintaining full alignment. We’re bringing in knowledgeable, experienced partners to co-invest with us in the opportunities we’re already pursuing.”
Michael Esrubilsky
“We prioritize founders who have deep expertise in the industries they’re building in, excel in execution, and often come through trusted referrals in the ecosystem. We look for companies that combine strong product-market fit with the potential for outsized impact in the financial sector.”
Daniel Arippol
