So how do you develop the conviction to invest – When the early stage can be so risky, what are the signals that you look for?

It's great.

And I think part of the answer is the evolution that we have had in the last 13 years now, because we started as an incubator and myself as well.

Like my first job was in a different incubator and university incubator.

So like I will say all my professional life has been working with extremely early stage startups.

So I think it's kind of part of my DNA.

I've never worked in a corporate.

What are the signals that you're seeing in the LATAM ecosystem that make it a fertile ground for a VC to come in and invest?