Adriana Tortajada is a leading voice in the world of venture capital, deep tech, and impact investing. Her experience in investment funds and entrepreneurial capital has shaped a transformative vision of how the investment ecosystem must evolve to meet today’s challenges—not only those of the market, but also of society.
In conversation, she shares her perspective on purpose in business, the role of women in the economy, and the importance of aligning capital with real impact.
From Profit to Purpose-Driven Investment
Historically, the investment world has been shaped by a false dichotomy: on one side, models that focus exclusively on financial return; on the other, those centered on philanthropy and social causes.
Adriana seeks to break this polarization by proposing a third path, one that closely aligns with the philosophy of Conscious Capitalism—where investments not only generate economic returns but also intentionally and positively impact people, society, and the environment.
Through 1200 VC, the investment platform she works with, Adriana and her team have embraced meaningful innovation, investing in technologies that transform key industries and generate sustainable economic opportunities.
Her focus is not just on investing in startups but also in fund managers who share these values and can scale high-impact solutions.
Theory of Change and Strategic Investment
A key concept in the conversation is the theory of change: understanding the true purpose behind each investment and how it can help transform social and economic realities.
Adriana emphasizes that investments must address urgent challenges such as sustainability, financial inclusion, and adaptation to demographic shifts—ensuring no one is left out of the economic system.
In this context, venture capital should no longer be seen solely as a speculative tool but rather as a catalyst for social and economic transformation.
To that end, 1200 VC promotes a hybrid approach: investing in fund managers with strong market knowledge and in founders with disruptive potential.
One of the most significant shifts is the growing adoption of ESG and SDG criteria.
According to Adriana, more and more investors understand that a financial legacy cannot be disconnected from the real-world impact of their decisions.
The landscape has changed: investors no longer view social impact and sustainability as sacrifices but as competitive advantages.
Funds that incorporate these criteria are proving more resilient during economic crises, as they invest in issues that don’t vanish with market fluctuations—such as access to clean energy, financial inclusion, and regenerative agriculture.
The Role of Women in Business: A Transformative Opportunity
One of the most urgent issues Adriana addresses is the gender gap in access to capital. Despite women being a crucial economic force, women-led startups receive less than 5% of global venture capital, and in Latin America, that figure drops to an alarming 2%.
The issue goes beyond lack of funding: capital remains largely concentrated in the hands of male investors.
Women, although they tend to save more, invest 40% less than men—perpetuating a vicious cycle where gender issues are neither understood nor prioritized in investment portfolios.
Even so, Adriana sees a positive shift: more funds are adopting a gender lens, investing in women-led businesses or in solutions targeting issues specific to this segment.
She also highlights that diverse teams are not only more efficient but also more profitable. Studies have shown that boards with greater female representation achieve better financial returns and gain larger market shares.
Women on Boards: Challenging the Status Quo
Women in leadership positions are challenging traditional ways of doing business. Adriana shares anecdotes of how the absence of women in decision-making spaces used to be normalized—from the lack of women’s restrooms in business clubs to the underestimation of their leadership abilities.
Today, that is changing. Women on boards and in investment teams not only bring diverse thinking but also challenge traditional practices and promote a more holistic approach to business.
As Adriana puts it, women have a natural venture capitalist mindset: they seek meaningful connections, innovative solutions and care deeply about the long-term impact of their decisions.
Key Sectors Where Impact and Returns Go Hand in Hand
Adriana highlights three industries where the synergy between impact and financial return is most evident:
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Financial inclusion fintech: Startups democratizing access to credit and banking services.
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Clean energy and energy efficiency: Companies optimizing energy use and developing sustainable solutions.
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Regenerative agriculture and circular economy: Models that responsibly leverage natural resources and strengthen rural communities.
These sectors represent not only profitable investment opportunities but also respond to a growing demand from conscious consumers, willing to pay more for products and services aligned with their values.
Latin America and the Rise of Impact Investing
Although impact investing still represents a small portion of the market in Latin America, significant progress has been made. Mexico has played a key role in this movement, with events like the Latin American Impact Investment Forum (FLII), which, in its 15th edition, brought together more than 4,300 people from 50 countries.
Adriana points out that foundations and development banks are increasingly channeling resources toward impact-driven businesses, while funds are evolving to measure not only profitability but also their social and environmental impact.
Challenges remain, such as economic volatility, dependence on foreign capital, and the lack of clear regulations. However, the trend is clear: purpose-driven investment is growing and reshaping the future of business in the region.
The conversation with Adriana Tortajada makes one thing clear: the world of investing is evolving toward a more human, sustainable, and inclusive model. The key lies in investing with purpose, aligning capital with real solutions for society.
Women, with their holistic and collaborative mindset, play a crucial role in this transformation. Their presence in decision-making spaces is breaking paradigms and paving the way for future businesses to be more diverse, innovative, and sustainable.
The challenge is clear: we must continue to push for a new way of doing business, where success is not measured solely in financial terms but in the well-being we generate for people and the planet.