Mexico City, (July 10, 2024) – Village Capital announced that U4Hero and Tierra de Monte were peer-selected to receive equity-free grant funding as part of the program ADAPT: Social Innovation for a More Resilient Future, in partnership with MetLife Foundation.
The initiative supported nine startups from four countries in Latin America (Argentina, Brazil, Chile, and Mexico), with 56% of the cohort working outside the region's main tech hubs and 89% having a woman as a founder or leadership team member. These startups have received intensive mentoring from potential strategic partners, investors, clients, founders, regional entrepreneurship support organizations, and executives from MetLife. They have also had the opportunity to participate in individual sessions with an investment analyst to receive feedback and support.
“The ADAPT program is incredibly comprehensive and challenging; it really pushes you to reconsider everything from the ground up,” highlighted Adriana Luna, Founder and CEO at Tierra de Monte. “The program offers a fresh perspective on your company, helping you rediscover aspects you might have overlooked. It prompts you to question whether your current practices are best for your company, team, and market. The guidance provided has been invaluable.”
“At MetLife Foundation, we believe that innovation can bring forth a new generation of solutions to strengthen communities and reduce inequalities, contributing to a more confident future for all, said Santiago Airasca, Vice President of Communications, CSR, and Chief of Staff. “We are proud to support ADAPT for the second time to build stronger, more resilient communities and advance solutions to address critical social challenges.”
U4Hero and Tierra de Monte were selected by a group of peer entrepreneurs for grant funding on the final day of a three-day summit at MetLife’s offices in Mexico City to conclude “ADAPT: Social Innovation for a More Resilient Future LatAm 2024,” a four-month startup development program.
The nine participating startups evaluated each other through an investor lens, using eight specific investment categories that leverage Village Capital’s venture investment levels. This methodology allows entrepreneurs to decide who will receive the available grants in each initiative through a peer-selection method based on startup achievements and potential. This has proven effective in reducing gender gaps and personal biases and in predicting future performance more accurately than conventional impact investment funds.
U4Hero and Tierra de Monte were top-ranked by their peers and will receive equity-free grant funding of USD 10K each from MetLife Foundation to support their operations.
The peer-selected startups focus on the following:
For more information, reach out to Yireth Villaverde at Village Capital (yireth.villaverde@vilcap.com).
About Village Capital
Village Capital is reinventing the system to back the entrepreneurs of the future. Known for its groundbreaking approaches to supporting founders who are building solutions to emergent social, economic, and environmental challenges, VilCap unlocks critical social and financial capital for early-stage companies to maximize business and impact growth.
Village Capital has operated in Latin America since 2015 by running over 20 accelerator programs involving more than 20 countries in the region including Bolivia, Guatemala, and Paraguay. VilCap has supported more than 200 locally-based startups working in sectors such as economic mobility, financial health, and sustainable agriculture. Learn more at www.vilcap.com and follow @vilcap_latam.
About MetLife Foundation
At MetLife Foundation, we are committed to driving inclusive economic mobility. We collaborate with nonprofit organizations and provide grants aligned to three strategic focus areas – economic inclusion, financial health and resilient communities – while engaging MetLife employee volunteers to help drive impact. MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its inception, MetLife Foundation has contributed over $1 billion to strengthen communities where MetLife has a presence. To learn more about MetLife Foundation, visit www.metlife.org.
