Seizing upon this opportunity, Michael Puscar turned his focus to Latin America in 2013 – a bet that has proven to be quite successful. Puscar is a serial entrepreneur and the founder of Yuxi Pacific, an international Big Data software firm that pioneered the use of NOSQL databases in the publishing industry. Currently, Puscar is the president and founder of GITP Ventures. Puscar’s focus shift to Latin America started after Blue Loop Capital acquired Yuxi Pacific, back in 2013. He then proceeded to found GITP Ventures and invested millions of dollars in Colombia’s fledgling hi-tech sector. His name is often associated with the “Miracle of Medellin”, as he explains: In 2010, a government-affiliated group called ACI Medellin invited Puscar to Colombia. He was already thinking about opening an office in Latin America, so this presented the perfect opportunity: In addition to his efforts in entrepreneurship and investment, Puscar has held a number of charity events in Medellin’s poorer neighborhoods. He says that this is linked to his background, growing up in a somewhat impoverished environment: That same computer, according to Puscar, is the very origin of his success. After learning BASIC at 11 years old, he got together with “community hackers” who had the same desire to learn more. Fast forward to a few years later and Puscar founds Yuxi Pacific, a company that he would end up selling in 2013. Blue Loop Capital made him an initial offer, and the deal was actually made in the Newark airport, where Puscar had a connection stop from Las Vegas to Berlin. This sale would be the catalyst for Puscar’s later focus in Latin America – a market that, as mentioned before, is growing visibly. But what is next for Colombia, GITP Ventures and Puscar himself? GITP will hopefully be launching a new high tech fund that takes advantage of emerging trends in Latin America. There is no timetable. Unlike traditional funds, I refuse to be bound by open and close dates. We will raise money, make investment, nurture those companies to success and hopefully have a few nice exits in South America.”
