According to certain clients Carey's ‘venture capital team is the strongest in Chile’. The full-service firm fields a 13-strong practice that has extensive experience in supporting start-ups at both initial and internationalisation stages. The group also routinely acts for entrepreneurs and young companies at every stage of their growth, including seed capital, early-stage, Series A, late-stage, and growth equity rounds; and it further comprises experts in venture debt, angel rounds and technology transfers. The team additionally advises domestic and international venture capital funds on the purchase and sale of companies. With a ‘strategic mindset and undeniable leadership skills’, practice leader and current President of the Chilean Venture Capital Association, Francisco Guzmán, is an adviser to large corporate ventures on their investments in technology start-ups; and also assists start-ups with their internationalisation processes. Guzmán is supported by Guillermo Carey, who advises high-impact entrepreneurs on both developing globally and as regards technology transfers. At associate level, Sebastián Melero advises on private equity and venture capital transactions; Carlos Alcalde assists companies with their Chilean operations and financing rounds; Andrés Latorre's experience includes advising investor Manutara Ventures on a financing round for Xepelin Holdings; and Carolina Miller focuses on both venture capital and fintech work.

DLA Piper Chile's ‘very complete team’ advises on the full range of venture capital work, including financing rounds, corporate ventures, exits, employee benefit plans, and international expansions. The Santiago office’s recent workload includes advising early and growth-stage investment company Fen Ventures on a series of investments; and assisting Chilean chemical company SQM on the incorporation of its corporate venture capital arm. The seven-strong practice, which is notably active in relation to technology companies, is co-led by office managing partner Matías Zegers, who ‘stands out for his knowledge of venture capital’; and Jorge Timmermann, who also serves as the firm’s LatAm emerging growth and venture capital co-head. Zegers routinely advises on complex venture capital funding issues; and Timmermann’s experience includes assisting venture capital firms and entrepreneurs with establishing investment funds and start-up vehicles, and applying for state-driven funding opportunities. In the firm’s associate group, José Ignacio Marín advises companies on financing rounds, as well as the expansion and internationalisation of businesses; and Vicente Sáenz de Santa María assists companies and investors with financings through equity and debt instruments; Pilar Ay, a company and investor-side venture and debt financing expert, is currently on secondment at the firm’s Palo Alto (US) office.

Full-service law firm Barros & Errázuriz fields ‘a group of young partners and associates who really understand the world of venture capital’. The eight-strong venture capital practice acts for start-ups and investors at all stages of business development. Its expertise covers assistance with growth and finance stages, as well as exits; and the department comprises sector specialists in AI, technology, retail, media, entertainment, fintech Insurtech, and food and beverages. The firm is also home to B&E Impulsa, a mentoring and legal services programme through which it assists promising start-ups with launching, developing and growing their businesses. The team can also claim close relations with several incubators, accelerators and investors, such as business accelerator StartUp-Chile and the Chilean Fintech Association. Examples of recent mandates includes acting for Sundes, a Chilean hospitality-tech start-up, on its seed financing round. The team is co-led by Sergio Eguiguren, who advises and mentors domestic and international entrepreneurs at different stages of development, in addition to advising on M&A, structured and corporate financing, company purchases and sales, and general corporate matters; and corporate law expert Lucas Marinovic, who is ‘an outstanding partner’. The team further includes counsel Magdalena Munita, who advises on the tax side to venture capital work.

The ‘committed and proactive’ corporate and venture capital department at Flores Acevedo predominantly acts for technology and services-related start-ups, entrepreneurs, inventors, companies and research and development institutions. On the start-up side, the group mainly advises entities that have received early seed funding from public subsidies, particularly the Corporación de Fomento de la Producción (CORFO), and been part of business incubators and accelerators, such as Start-up Chile, Imagine Lab Chile, IncubaUdeC, G100, MadeInn Conce, EmergeLab and Hub APTA. The team’s expertise covers accompanying founders from early stages, through to initial investments by angels and follow-on investments. In recent highlights, the practice advised Mudango, which operates as a logistics platform for residential and office relocations, on a second bridge investment round. It also assisted FoodTech sector business Bifidice with closing an investment equity round, which necessitated negotiations with investors, capital increases, and shareholder agreements. The ‘highly knowledgeable’ corporate, venture capital and IP practices are led by founding partner Pablo Acevedo, who ‘looks for creative solutions’ and whose ‘commitment is excellent’. In the firm’s associate team, both Joaquín Varela and Ignacio Guerraty were promoted to seniors in January 2024; the pair routinely advise on significant venture capital transactions.

Fielding lawyers who ‘always look for a practical solution’, Guerrero Olivos' client portfolio comprises domestic and foreign venture capital investors, entrepreneurs and start-ups, as well as accelerators and incubators. The nine-strong team advises at all stages of venture capital work, from the formation of start-ups and structuring of funds, to initial financing rounds and follow-on investments. It also assists with exits, M&A and IPOs, as well as stock plans, internationalisation plans, licensing, distribution and partner agreements, and IP, personal data and cybersecurity issues. Clients additionally benefit from the firm’s cooperative alliance with Chile Global Ventures, an accelerator that is part of a community of over 75 institutions worldwide. Highlights include advising Obralink, a start-up that developed a construction project-related autonomous data collection system, on its financing round. The venture capital department is led by Pedro Lyon, who ‘explains complex matters simply’, and who is experienced in financing rounds and international corporate structuring. The team also includes Benjamín Ferrada, who, in addition to dispute resolution,  assists with venture capital structuring. At senior associate level, Francisca Martínez specialises in M&A and venture capital transactions, while Diego Rodríguez, who advises on investment rounds, rejoined the firm from Morrison Foerster’s Miami office in early 2023.

With ’extensive knowledge in venture capital’, ACU Abogados' four-member venture capital team acts for investment funds, family offices, entrepreneurs, business incubators, and corporate and angel investors. The practice’s expertise ranges from the creation of public and private investment funds and the incorporation of legal entities, to capital raising, financings and international investment rounds. It also covers flip-related processes, the structuring of stock-option plans for executives and founding partners, and due diligence on target companies. The corporate, M&A and venture capital practices are led by founding partner Pablo Undurraga, who ‘stands out for his good judgement’, while Francisca Urrutia is ‘an excellent senior associate’. Former associate Clemente De Andraca departed the firm in August 2023.

‘Fast and efficient in finding solutions’, Apparcel Uriarte Abogados’ five-member team has extensive experience of the financial, digital and venture capital sectors. Acting for both entrepreneurs and emerging companies, the group’s expertise covers every stage of growth, such as inceptions, internationalisations and financings; and its specialisms include seed capital, early-stage investments and growth equity rounds. The team also advises on venture debt, angel investments, due diligence, corporate governance and strategic tax planning. The venture capital department is led by Consuelo Mackenna, who is consistently sought out by start-ups to advise on venture capital, banking, corporate law, and financial and securities market regulations. Senior associate Eduardo Muñoz E left the firm in March 2024.

The six-strong team at boutique legal practice Egaña Abogados comprises specialists in fintech companies, investment funds, and venture capital, private equity, IT, social innovation, and sustainability-related businesses. The group acts for technology companies at early and expansion stages; advises private investment funds with an international presence; and assists associations and foundations that promote entrepreneurship. Founding partner Andrés Egaña advises start-ups throughout capital raising and internationalisation processes. At senior associate level, Catalina Ugarte Millan acts for venture capital investment funds and companies onChile's Corporación de Fomento (CORFO)-related financings; Juan Ignacio Pitta is particularly focused on sustainable development-related venture capital and private equity transactions; and Andrea Álvarez advises start-ups and technology-related ventures.

Philippi Prietocarrizosa Ferrero DU & Uría's six-strong venture capital and technology practice is consistently mandated by start-ups, investors, venture capital funds and companies with corporate venture capital initiatives. The team focuses predominantly on fundraising rounds, the internationalisation of operations, fintech matters, regulatory issues and the incorporation of start-up companies. Highly involved in the regional and domestic start-up ecosystem, the firm has an approximately 12-year strategic alliance with New York-headquartered Endeavor, which supports entrepreneurs with potential for economic and social impact in their regions. Practice head Nicolás Santana maintains a broad venture capital workload, while principal associate María Jesús Ibáñez is an international tax law specialist.

Following its May 2024 merger with Álamos & Squella, the former Aldunate Alvarez Abogados is now known as Álamos Álvarez y Aldunate.  ‘Always available and attentive to clients’ needs’, the 10-strong venture capital team advises entrepreneurs, start-ups, and national and foreign investors on all stages of venture capital transactions. Notably active in deals involving fintech, proptech, InsurTech and EdTech (among other market segments), the practice group’s expertise covers private equity transactions, semi-public financings, and capital and debt raising rounds. The group is co-led by corporate law, capital markets and private equity specialist, Felipe Álvarez, who routinely assists with structuring start-ups; and fellow name-partner Alfonso Álamos, an adviser to domestic and foreign companies on taxation, capital markets and corporate governance.

Aninat Abogados’ ‘venture capital team is characterised by fast, effective and secure solutions’. Particularly active on behalf of fintech start-ups at all stages of growth, the eight-member practice advises on the corporate structures for financing rounds and exits, corporate governance, internationalisation processes and stock option plans. It also assists with tax, labour, regulatory, data protection and IP issues. The practice is co-led by María Eugenia Sabbagh, who ‘demonstrates extensive experience in the execution of different venture capital investment structures’; and senior counsel Cristián Reyes, an adviser to innovative technology and fintech companies. The group also includes Martin Mois, who focuses on innovation, IP, IT, data protection, consumer protection and corporate law.

Cariola Díez Pérez-Cotapos' seven-strong team advises start-ups and emerging companies at all stages of their development. The group focuses on company start-ups, financing rounds and shareholder agreement negotiations, along with compensation plans, due diligence processes, the exploitation of different technologies and tax restructuring. The team also advises on corporate law, M&A and IP. The IP, technology, privacy, start-up and venture capital teams are led by Rodrigo Lavados, who routinely advises on software licensing, trade mark and technology transfer contracts; while the sector expertise of M&A specialist Andrea Saffie covers casinos, oil, agro-industrial, hotels, investment funds, family offices, and paper and forestry.

The Santiago team at international law firm Cuatrecasas has extensive experience in advising both investors and startups. The four-member Chilean venture capital practice acts for investors on structuring funds and other investment vehicles, as well as related regulatory and tax requirements. The team also assists investors with negotiating the investment documents for venture capital financing rounds. The practice is led by the experienced Josefina Yávar, who advises venture capital investors, start-ups, corporate funds and incubators on the legal structuring of funds and investment vehicles, including corporate venture funds. Former associate Fernanda Anguita departed the firm in December 2023 for an in-house role at a unicorn food-tech company.

Acting for entrepreneurs, project managers and investors, HD Legal is home to sector experts in finance, food-tech, retail, software development and mining. The five-member venture capital team covers seed capital and early-phase development, including incorporations, start-up steps and capital raising rounds, as well as subsequent growth stages. The group is co-led by Sebastián Delpiano, whose wide-ranging expertise covers funds that invest in venture capital; and Matías Langevin, an adviser on fintech, venture capital and capital markets. In the associate group, Ignacio Ruiz-Tagle advises both fund managers and investors on investment and feeder funds, particularly as regards regulatory issues.

Acting for both founders and investment funds, Lembeye's four-member team advises start-ups throughout their life cycle, from the structuring and formation of corporations to corporate law, tax, labour and regulatory matters. The practice also assists with stock option plans, initial investment rounds, the internationalisation of companies, and shareholder and investment agreements. Founding partner Jorge Lembeye advises on the structuring and placement of  funds, in addition to leading the firm’s M&A, project restructuring, capital markets and banking and finance practices; and Nicolás Espina advises entrepreneurs and start-ups on both seed capital raising and internationalisation processes.

Adopting ‘a unique approach to handling matters’, MBC Abogados' 10-strong team advises on the gamut of venture capital work, including equity investments, venture debt and fund formation. The practice, which is home to experts in market deal terms and structures, is co-led by Ignacio Bolelli A, an adviser to venture-backed companies on both investor/lender issues and company/borrower aspects; and Benjamín Salas, whose practice covers transactional, regulatory and dispute resolution work. At senior associate level, Guillermo Bobenrieth, advises investment funds and managers on venture capital; Florencia Grez left for family office Costa Verde in October 2023.

Established in 2019, Montt Perez-Cotapos Abogados' venture capital practice acts for a range of start-ups and investment funds on constitution and financing issues. In addition to advising on domestic transactions, the group acts on investments in Chile that are made through controlling US entities. The ‘very collaborative’ department is co-led by Sebastian Perez-Cotapos, whose venture capital expertise covers advice to target start-ups, limited partnerships and venture fund managers; and fellow name-partner Santiago Montt, who is experienced in assisting investors and start-up companies with seed stages and investment rounds.