Between seeing Justin Bieber and Yummy founder Vicente Zavarce in Los Angeles at lunch, spending time with Vicente was much cooler!
There is a saying in investing that the best investments are contrarian and right. Investing in a Venezuelan 🇻🇪 delivery startup in March 2021 was about the most contrarian investment I could make.
However Vicente’s background at Postmates by Uber and Getaround and his hustle made me think this could work.
The next few years of Yummy have been incredible as they raised $80 million and built a full super app in Venezuela that generates 10s of millions in revenue.
The road has been hard as it is with most startups but the grit of the team at Yummy has been inspirational.
It was fun sharing behind the scenes how I and other investors collaborated to open doors and possibilities for Vicente Zavarce and Yummy and to hear the details of what it takes to build a startup in Venezuela.
I visited Caracas in 1982 and remember how amazing and economically strong the country was. I share Vicente’s optimism that the country can make a comeback and I want to be there with him and other founders making it happen on the ground.
Special thanks to Ali Jamal for being among the earliest supporters of Yummy and for giving me the opportunity to invest 🙏
