Steven Bandal

Steven I. Bandel is a member of Carao Ventures' Board of Directors. Carao identifies him as a current board member and notes that he also serves as vice chairman of Babson College's Global Advisory Board, a member of Baptist Health South Florida's International Advisory Board, a member of IESA's Board of Directors, a member of the Latin America CEO Network, and a member of the President's Leadership Council of Stevens Institute of Technology.

Bandel spent 32 years at the Cisneros Group of Companies, where he was co-chairman and CEO and also held earlier roles including chief financial officer and president of Multimarket, the group's investment banking arm. Stevens Institute of Technology describes him as the retired co-chairman and CEO of Cisneros Group, with operating experience across media, entertainment, telecom, tourism, real estate, and consumer products.

During his tenure as CEO, Bandel was responsible for the deployment of DIRECTV Latin America and AOL Latin America in 23 countries and helped operate businesses including supermarkets, telecommunications, consumer goods, fast food chains, and media across Latin America. Adriana Cisneros has credited Bandel as a key partner in major Cisneros deals including DirecTV Latin America, Spalding, Evenflo, Galerias Preciados, the sale of Pepsi operations in Venezuela to Coca-Cola, and the launch of Univision.

Bandel earned a bachelor's degree with honors in electronic and electrical engineering from Stevens Institute of Technology and an MBA with high honors from the Institute of Advanced Management Studies (IESA) in Venezuela. In 2017, Stevens gave him its International Achievement Award.

• Carao Ventures' stated focus is early-stage venture investing in innovation-driven companies operating in Latin America.
• The firm says it backs "Latin America's innovators" and supports entrepreneurs with the "technical skills and grit needed to disrupt industries."
• Carao invests in Pre-Seed, Seed, and Pre-Series A companies, with some flexibility for U.S.-based companies led by Latin American founders that retain meaningful operations in Carao's target geography.
• It favors companies that use technology or innovative business models to transform sizable markets or become key drivers in new industries.
• It looks for scalable value propositions with international market potential, preferably in businesses that are not highly capital intensive.
• It values competitive advantages intrinsic to Latin America, such as regional market gaps, distinctive capabilities, sector recognition, or access to specific resources.
• It avoids companies that have raised multiple previous rounds without reaching business traction.
• It looks for companies with favorable prospects for follow-on financing or liquidity events and a straightforward exit path.