Institutional Venture · Fund I · 2026

Backing the next generation of LATAM category leaders from El Salvador.

CoreNest combines a $25M VC Fund with a corporate-driven accelerator to identify, validate, and scale high-potential startups across Latin America.

$25M
Fund Size
$18.2M
LP Commitments
240+
Pipeline Reviewed
25%+
Target Net IRR
3 yrs
Investment Period
25%
GP Carry
01 / Potential Cohort

Anonymized Dealflow

A live look at the companies CoreNest is evaluating for the first cohort. Identities, founders and contact details remain confidential — only solution, traction and team profile are disclosed.

Industry:
Stage:
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02 / Fund Structure

How the Fund Works

A $25M institutional vehicle deploying into seed and pre-seed LATAM startups under an American waterfall structure.

01
Limited Partners
02
CoreNest Fund I
03
Portfolio (50+)
04
Liquidity Events
05
Distributions
Fund Size
$25M
Structure
American Waterfall
Fund Life
10 Years
Investment Period
3 Years
Capital Calls
Quarterly
Initial Ticket
$125K
Equity per Deal
12.5%
Accelerator Allocation
2.5%
GP Carry
25%
Mgmt Fee
2.5% / yr
03 / Return Simulator

Simulate Your Investment

Minimum ticket $500K. Model how your commitment translates into MOIC, IRR, DPI and TVPI — by portfolio mix or by walking through a single illustrative deal under American waterfall.

Commitment$500K
$500K$10M
Tu ownership del fondo
2.00%
$500K ÷ $25.0M
Mgmt fees (LP share)
$125K
2.5% × 10y × ownership
Capital invertible (LP)
$375K
commitment − fees
Base sobre la que se aplica el MOIC

El MOIC multiplica una base. Elige cuál usar para la simulación — ambos son válidos pero dan resultados distintos por el drag de las fees.
Tu ownership (2.00%) siempre se respeta sobre los proceeds que genere el fondo.

Sobre invertible ($18.8M)
MOIC × capital realmente desplegado en startups. Es el view del GP — refleja el performance puro del portafolio. Más conservador.
Sobre fondo ($25.0M)
MOIC × tamaño total del fondo. Mental model simple ("si el fondo hace 6x, $25M → $150M"). Ignora el drag de fees.
Exit Scenario
Portfolio Mix (~155 deals total)Total: 100/100
Fail (0x)25% · ~39 deals
Moderate (3–5x)62% · ~96 deals
Breakout (20–40x)13% · ~20 deals
Exit Multiples (per category)
Fail (0x)
x
Moderate (3–5x)
x
Breakout (20–40x)
x
Exit Horizon (years)iYears to a full liquidity event. Shorter horizons increase IRR for the same MOIC.8y
Nivel fondo
Blended Gross MOIC6.38x
Base (invertible)$18.8M
Proceeds fondo$119.6M
× ownership 2.00% → Nivel LP
Gross fund proceeds (LP)$2,392,500
Return of capital$500,000
LP profit (75%)$1,419,375
GP carry (25%)$473,125
Projected return to LP$1,919,375
MOICiMultiple on Invested Capital — total $ returned ÷ $ committed.
3.84x
Net IRRiInternal Rate of Return, annualized, net of fees and carry.
18.3%
DPIiDistributions to Paid-In — cash already returned ÷ capital called.
2.3x
TVPIiTotal Value to Paid-In — (distributions + NAV) ÷ capital called.
3.84x
% RecoverediTotal $ projected back to you ÷ your commitment, expressed as %. 100% means you got your money back; 320% means 3.2x.
384%
American Waterfall DistributioniAmerican waterfall (deal-by-deal): LP gets capital back first, then profit splits 75% LP / 25% GP carry.
Capital Deployment Curve · Cumulative Distributions to LP
What does each outcome mean?
Fail (0x)
Startup shuts down or returns nothing to the fund.
Moderate (3–5x)
Decent acquisition or secondary — solid base hit. Default 4x.
Breakout (20–40x)
Category leader, IPO or strategic exit. Default 30x.

Reference: a single 100x outcome (e.g. $125K → $12.76M, see Single Deal mode) can carry the entire fund.

04 / Capital Calls

Understanding Capital Calls

Capital is called quarterly as the fund deploys. Your first call covers prepaid management fees for Years 1–2 plus your share of the first tranche of investments.

Your Commitment
$500K
LP Ownership
2.00%
First Capital Call
$148K
Remaining Unfunded
$352K
$500K$10M
Called · First Call29.6%
QuarterPurposeAmount (LP)Cumulative CalledRemaining
Q1 2026First close · prepaid fees Y1–Y2 + first tranche + expenses$148K$148K$352K
Q2 2026Deployment tranche · follow-ons & new investments$32K$180K$321K
Q3 2026Deployment tranche · follow-ons & new investments$32K$211K$289K
Q4 2026Deployment tranche · follow-ons & new investments$32K$243K$258K
Q1 2027Deployment tranche · follow-ons & new investments$32K$274K$226K
Q2 2027Deployment tranche · follow-ons & new investments$32K$306K$195K
Q3 2027Deployment tranche · follow-ons & new investments$32K$337K$163K
Q4 2027Deployment tranche · follow-ons & new investments$32K$369K$132K
Q1 2028Deployment tranche · follow-ons & new investments$32K$400K$100K
Q2 2028Annual management fee$13K$413K$88K
Q1 2029Annual management fee$13K$425K$75K
Q1 2030Annual management fee$13K$438K$63K
Q1 2031Annual management fee$13K$450K$50K
Q1 2032Annual management fee$13K$463K$38K
Q1 2033Annual management fee$13K$475K$25K
Q1 2034Annual management fee$13K$488K$13K
Q1 2035Annual management fee$13K$500K$0K
05 / Accelerator

Turn CoreNest into your external innovation laboratory.

Access startups, emerging technologies, and innovation pilots aligned with your industry. CoreNest is not only a fund — it is a corporate innovation platform.

How Corporates Work With Startups
01
Corporate Problem
02
CoreNest Match
03
Pilot
04
Validation
05
Commercial Agreement
06
Strategic Investment
Innovation Use Cases
Banking+Fintech

Embedded finance, fraud AI, KYC automation

Retail+AI Commerce

Personalization engines, computer vision

Insurance+Automation

Claims AI, underwriting copilots

Telecom+CX

Conversational AI, churn intelligence

Logistics+AI Routing

Fleet optimization, autonomous freight

Healthcare+Healthtech

Triage, diagnostics, ops automation

Simulated Challenges by Industry

Illustrative innovation challenges per vertical, automatically matched against our 393-startup base. Pick an industry to see which startups can solve which problem.

Challenge 01

Digital onboarding & automated KYC

Cut friction and time-to-account with identity verification, biometrics, and alternative scoring while staying compliant.

Top matched startups
  • CREDI CLICK
    El Salvador · Scaling
    93
  • DiiMO
    El Salvador · Scaling
    89
  • Nirby
    Chile · Early Traction
    87
Challenge 02

Real-time transactional fraud detection

AI models for anomaly detection across payments, transfers, and auth — to reduce losses and disputes.

Top matched startups
  • CREDI CLICK
    El Salvador · Scaling
    93
  • Hualy
    El Salvador · Early Traction
    84
  • ERP Satélite
    El Salvador · Early Traction
    90

Illustrative challenges. Not associated with our current corporate partners.

Media & Traction

Press coverage of CoreNest's alliances with Asesuisa, Davivienda, Publimovil and the Government of El Salvador.

06 / Partnership Tiers

Corporate Partnership Levels

Four entry points to participate in CoreNest as a corporate partner.

01. Founding Partner
Annual Contribution
$100K USD
Anchor partner with sector leadership and strategic influence
Benefits
  • +Seat in CoreNest Advisory Board
  • +Branding as "Founding Partner" (HQ, Demo Day, PR)
  • +Co-creation of corporate innovation pilots
  • +Full visibility in media & institutional campaigns
  • +Priority access to dealflow & startup matchmaking
  • +2 passes Venture Summit + 4 Demo Day
Strategic Value
  • +Regulatory credibility & ecosystem leadership
  • +First access to top startups
  • +Direct influence in innovation agenda
Exclusivity
  • +Sector exclusivity (1 per core sector)
  • +No direct Tier-1 competitor access
  • +No veto rights or startup blocking
02. Strategic Partner
Annual Contribution
$75K USD
Active corporate player driving vertical innovation
Benefits
  • +Curated startup access (vertical-specific)
  • +2–3 startup introductions per batch
  • +Innovation roundtables & VIP access
  • +Demo Day VIP participation
Strategic Value
  • +Regulatory credibility & ecosystem leadership
  • +Corporate-startup collaboration
  • +Innovation exposure without governance complexity
Exclusivity
  • +Non-exclusive
  • +No governance rights
  • +Founding Partner has priority positioning
03. Innovation Partner
Annual Contribution
$50K USD
Ecosystem enabler providing tools, services, or infrastructure
Benefits
  • +Branding visibility across ecosystem
  • +Participation in workshops & founder sessions
  • +Service credits / perks for startups
  • +Ecosystem networking
  • +Demo Day access
Strategic Value
  • +Strengthen startup operations
  • +Position as key service provider
  • +Access to early-stage founders
Exclusivity
  • +No exclusivity
  • +Pure ecosystem support role
04. Council Member
Annual Contribution
$30K USD
Institutional ecosystem participant
Benefits
  • +Quarterly innovation briefings
  • +Curated startup exposure (non-priority)
  • +Closed-door roundtables
  • +Demo Day access
  • +Startup trend reports
Strategic Value
  • +Ecosystem visibility
  • +Intelligence & networking
Exclusivity
  • +None
Founding Partner · Deep Dive

What $100K really unlocks: a corporate innovation lab inside CoreNest.

Corporate Innovation Dashboard · Preview
Matched Startups
12
Active Pilots
4
ROI Generated
$2.8M
Efficiency Gain
+34%
07 / Government & Ecosystem

Built on institutional alignment.

CoreNest operates under a formal MOU with the Government of El Salvador and a network of regional and global partners.

Government MOU
Republic of El Salvador
Headquarters
San Salvador
Regional Coverage
LATAM + USA
Advisor Network
25+ Operators
08 / Why El Salvador

The most asymmetric bet in LATAM.

01

Security Transformation

From the highest homicide rate in the world to one of the safest countries in the Americas — in 4 years.

02

Innovation Agenda

Bitcoin legal tender, AI-friendly regulation, public-private alignment around emerging technology.

03

LATAM Gateway

USD economy, US time zone, dollarized exits — a clean operational base for regional expansion.

04

Government Alignment

Direct relationships with the Presidency, BCR, CONAMYPE and Bitcoin Office.

05

Soft Landing

Tax incentives, residency programs, and operational support for relocating founders and corporates.