Fluent Ventures announces $40M fund to back emerging market founders rebuilding proven models for local markets

🌍 Fluent Ventures has closed a $40M fund to pursue what it calls “geographic alpha” — the belief that the most successful startups in emerging markets aren’t inventing from scratch, but rebuilding proven Western models to suit local realities.

Led by Alexandre Lazarow, the San Francisco-based firm is active across MENA, Latin America, Africa, and Southeast Asia.

In MENA, it has backed Saudi-based BRKZ, a construction tech startup.

With a strategy echoing that of firms like Class 5 Global, Fluent is similarly emphasising deep founder-market alignment and local product-market fit.

Lazarow’s prior portfolio includes Chime and ZenBusiness, with an estimated $30B+ in enterprise value created.