Capital hunt challenge for Latinos
Friday, April 29th, 2005By Robert Mullins
Silicon Valley/San Jose Business Journal
Queen Isabela I of Spain originally rejected Christopher Columbus’ pitch for venture capital to fund his three-ship expedition in 1492. But after her accountant told her the amount requested was no more than what the kingdom would spend to entertain a visiting dignitary for a week, Isabela relented and gave Columbus 2,000 maravedis in A round funding.
Columbus’ trip lead to the discovery of the New World, generating an incalculable rate of return on Isabela’s original investment.
“Yes, the first venture capitalist was a Latina,” said Marcela Davison Aviles, of San Jose, founder of the Isabela Project, a program to give today’s Latino entrepreneurs a better chance at landing venture capital in Silicon Valley.
