Miami-based Kiara Capital Announces First Close for Fintech-Focused Fund raising up to US$ 40 million
The fund invests in B2B fintechs operating in Latin America and the US
MIAMI, June 24, 2025 /PRNewswire/ -- Kiara Capital, a Miami-based venture capital firm founded by serial fintech entrepreneurs, has announced the first close of its inaugural fund. The fund focuses on early-stage B2B fintech startups operating in Latin America, and cross-border markets linked to the United States.
Founded in 2023, Kiara Capital specializes in early-stage investments, from pre-seed to seed. Since inception, the firm has reviewed over 160 opportunities and made five investments, including Astride, a U.S.-based fintech offering 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. Kiara's current portfolio spans startups in Brazil, Mexico, Colombia, and the U.S., with approximately $2 million already deployed.
The fund was co-founded by Michael Esrubilsky and Daniel Arippol. Michael Esrubilsky brings over 25 years of experience in fintech, with four successful fintech exits in Brazil totaling nearly $1 billion. 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. Daniel Arippol complements the team with more than 15 years of experience in private equity, venture capital, and innovation across emerging markets. He has 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 its investment thesis using only partner capital, Kiara Capital has now opened its first external fundraising round. The 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.
'Opening the fund to outside investors is a natural next step — one that expands our investment capacity while maintaining full alignment,' said Esrubilsky. 'We're bringing in knowledgeable, experienced partners to co-invest with us in the opportunities we're already pursuing.'
He noted that even as new investors join, the Kiara founding partners will continue to hold a significant stake in the fund, committing to never fall below 10% of total capital.
Kiara Capital 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. 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.
The timing, according to the partners, is favorable for early-stage investing, given attractive valuations and an increasing flight to quality among top founders. Kiara's edge lies in its active support model — providing hands-on strategic and technical guidance based on the partners' own experiences as successful operators and investors.
'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,' said Arippol. 'We look for companies that combine strong product-market fit with the potential for outsized impact in the financial sector.'
About Kiara Capital
Kiara Capital is a Miami-based venture capital firm focused on early-stage B2B fintech investments, with operations across Latin America and the United States. The firm blends entrepreneurial experience, disciplined deal selection, and close founder collaboration to generate strong returns.
To learn more, visit: https://www.kiara.capital
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