Palo Alto venture fund SparkLabs Global Ventures has just announced investment in a South American online dating startup.
SparkLabs Global Ventures has invested in Dating LATAM, a startup founded in Lima, Peru, offering dating services across Latin America.
Their site MiMediaManzana.com has over 300,000 registered users in Peru, Mexico, Colombia, and Chile.
SparkLabs Global Ventures is a seed-stage investment fund with a team of entrepreneurs and operators based in London, Tel Aviv, Seoul, Singapore and Palo Alto, CA.
The fund was founded in 2013, and has previously invested in Code Kingdoms, MinoMonsters, Aire and Payoff.
When it launched, it had a pot of $30m, and said it would generally invest between $250,000 and $1m.
Speaking about their latest investment, Net Jacobsson, co-founder & partner at SparkLabs Global Ventures, said: “We love the Dating LATAM’s team, vision to dominate Latin America, and their analytical approach to building their company.”
Dating LATAM estimate there is an unaddressed market of over 104m single adults in Latin America who aren’t yet using the internet to find partners.
SparkLabs Global Ventures recently added a new advisor to their seed-stage fund, Seong Ohm, who is SVP of Merchandise Business Services at Sam’s Club, a division of Wal-Mart.
Visit SparkLabs Global Ventures here.