Shefa Ventures

Shefa is a technology-driven investment platform created by IRSA, Argentina’s most important retail and real estate group. Its mission is to connect the strength of physical retail with the power of digital innovation.

Leveraging IRSA’s vast ecosystem—16+ shopping centers, 700+ brands, and millions of monthly visitors—Shefa identifies, invests in, and scales ventures that enhance consumer experience, data intelligence, operational efficiency, and retail-tech capabilities across the value chain.

Positioned at the intersection of retail, data, and technology, Shefa combines the agility of a venture investor with the discipline of an institutional fund. Its portfolio spans fintech, loyalty, logistics, marketplace infrastructure, and commerce-enabling technologies, generating synergies within IRSA’s ecosystem while unlocking scalable growth opportunities across Latin America.

For investors, Shefa offers a gateway into the region’s retail transformation—anchored in real assets, validated market access, and long-term value creation.

Using a hybrid investment strategy blending Private Equity, Venture Capital, and Company Building, Shefa partners with companies that have validated models, scalability potential, and strong integration pathways into existing commercial networks.

💬 Speak with Shefa’s Team

Interested in learning more about Shefa, its value proposition, or this investment opportunity?
Schedule a conversation with Ricardo Schulte — Investment Officer.
🔗 https://calendly.com/rschulte-weareappa/30min

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Shefa Platform Reach

Consolidated Ecosystem Metrics

Shefa-enabled ventures are already delivering scalable impact across the retail and consumer-tech landscape:

• 10M+ users interact with Shefa-backed solutions
• 8,000+ retail brands connected through shopping centers, marketplaces, and loyalty networks
• 2.5M+ monthly transactions across loyalty, marketplace, payments, and logistics platforms

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Investment Structure

BoulderTech is managing an investment opportunity of up to USD 2,000,000 into a dedicated SPV that will acquire up to 5% of Shefa at a USD 40M valuation.

Investors contribute to the SPV and receive the corresponding net proportional economic rights, gaining aligned exposure to Shefa’s long-term performance alongside its founding group.

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Use of Funds

• Invest in complementary startups aligned with Shefa’s retail-tech thesis
• Support follow-on investments in existing portfolio companies
• Strengthen fintech, data, and operational capabilities across the ecosystem

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Raise Terms

• Stage: Strategic Investment Round
• Valuation: USD 40,000,000
• Allocation Available: USD 2,000,000
• Minimum Investment: USD 10,000

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Current Portfolio

Appa — Application for shopping centers focused on user data, loyalty, and visitor engagement.
Stake: 100%

Tucan — Quick-commerce and last-mile logistics infrastructure as a service.
Stake: 18%

Avenida — White-label marketplace infrastructure for banks and enterprise clients.
Stake: 2.87% direct + 16.7% indirect via SAFE with A+Flia (controlled by Avenida’s CEO)

TurismoCity — Regional travel-price comparison and metasearch platform.
Stake: 9.28%

BoulderTech — Infrastructure for tokenization of financial assets and private-market instruments.
Stake: 26.38%

Compara en Casa — Online insurance broker offering transparent, multi-provider policy comparisons and purchases.
Stake: 12.47%

IceLabs - Industrial ice cream producer that owns three iconic Argentine brands — Chocorisimo, Persicco, and Guapaletas. Stake: 4.4%

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Shefa Investment Workspace

Access official documentation, portfolio insights, and strategic information. (Access upon request.)

🔗 Open Workspace

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Team

Ben Elsztain — Managing Partner
Visionary leader with deep experience in company building and entrepreneurial ecosystem development.

Ricardo Schulte — Investment Officer
15+ years in strategy, business analysis, and operational planning across retail and real estate.

Diego Akris — Investment Specialist
Background in eCommerce, business development, and data analytics.

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Legal Framework

The investor contributes funds to a BVI-incorporated SPV managed by BoulderTech, whose sole purpose is to support and prepare all necessary efforts for the development of the Shefa project. These contributions are recorded as an investment reserve, to be deployed only once the project enters formal execution.

As the project advances and moves through the established stages, the reserved funds will be transferred to the project’s definitive vehicle. At that point, the investor will receive economic rights proportional to their participation—linked to the project’s development and results. These rights may later be represented through digital instruments, depending on project conditions, without implying direct equity ownership or corporate participation.

If the project does not proceed or changes substantially, the investor’s funds will be returned without allocation, and no economic rights will be assigned.
The structure ensures that capital is used exclusively for a project that is moving forward and that the investor has explicitly confirmed.

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Risks

General Investment Risks

All investments involve uncertainty. No returns are guaranteed.

Project Execution Risk

Early-stage or developing projects may face changes or delays.

Market and Economic Risk

Macroeconomic conditions, cost changes, and external factors may impact performance.

Liquidity Risk

Private investments may lack secondary markets. Liquidity typically depends on specific events or milestones.

Regulatory and Jurisdictional Risk

The structure uses foreign vehicles and private offering frameworks (Reg D / Reg S). Regulatory updates may affect timelines or operations.

Technology and Tokenization Risk

Blockchain-based systems carry inherent operational and security risks despite protective measures.

Information and Forecasting Risk

Timelines, projections, and forward-looking statements may change and are not guarantees of future performance.