Hyla Fund Management, a firm specializing in investing in other hedge funds, is set to launch a new $30 million fund focused on the Latin American crypto sector. The CEO, Paola Origel, shared that while the Latin American crypto market is still small, there is significant potential for growth and opportunity.
Having 17 years of experience in the financial sector and being recognized as one of the top 50 women leaders in investment management, Origel emphasized the need for boots on the ground in Latin America to understand the market and communicate opportunities to founders. She handpicked three managers in Mexico City to put together the fund, highlighting the scarcity of venture capital funds in the region.
In 2024, the crypto ecosystem in Latin America is comparable to the global crypto industry in 2017, presenting both opportunities and challenges. One major obstacle in the region is educating investors about cryptocurrencies, as many still prefer traditional investments they can see and touch. Origel aims to change this mindset by demonstrating the functionality and benefits of crypto technologies.
As a fund of funds, Hyla acts as a bridge between traditional investors and the crypto market, offering access to various fund managers and strategies worldwide. Origel envisions Hyla becoming the “Goldman Sachs for digital assets,” with plans to launch a Latin America fund in 2025, adding $30 million to the firm’s assets under management.
The transformative impact of crypto in Latin America extends to areas like remittances, mobile transactions, supply chain shifts, and entrepreneurial talent. Countries like Brazil, Colombia, Argentina, and El Salvador offer unique opportunities for investment, with a focus on identifying projects with global potential. While the market is still in its early stages, Origel stresses the importance of being open to diverse sectors due to the limited deal flow in the region.
Ultimately, the goal is to discover the next unicorns in Latin America that will not only make a regional impact but also have a global reach. Origel’s expertise and vision position Hyla Fund Management as a key player in driving the growth of the Latin American crypto sector and fostering innovation in the region.