Fluent Ventures, a San Francisco-based venture fund founded in 2023, focuses on backing startups that adapt successful Western business models to emerging markets such as Latin America and Africa. With an initial capital of $40 million, the firm aims to invest in fintech, digital health, and commerce sectors, emphasizing local adaptation over mere replication. Fluent's strategy involves a deep understanding of regional markets while fostering relationships with over 75 unicorn founders. The firm believes that significant innovations can originate outside traditional hubs like Silicon Valley, as evidenced by emerging successes in tech.