Michael Puscar

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Michael Puscar
EducationB.S. Temple University
Occupation(s)Entrepreneur
Venture capitalist
Philanthropist
Known forFounder of Yuxi Pacific and Oiga Technologies
SpouseJohana Buriticá

Michael Puscar is an entrepreneur and venture capitalist. Puscar has founded several companies including Yuxi Pacific, GITP Ventures, Miguelo Romano, Oiga Technologies and NPCx,[1] among others. He is a published data scientist[2] and part of the business community changing the economy in Medellin, Colombia.

In 2013, Michael Puscar was a passenger on an Alitalia flight when it crash-landed at Leonardo da Vinci–Fiumicino Airport in Rome, Italy. Puscar captured video of the crash from his seat on the plane, and this video was distributed in several major media outlets.[3][4]

In 2020, Puscar revisited the crash in an episode of Brains Byte Back with Sam Brake. In the podcast, Puscar stated that he thought he was going to die and that the event significantly impacted his outlook on life.[5]

Business ventures[edit]

Yuxi Pacific[edit]

In 2005, Puscar launched Yuxi Pacific, a professional services firm founded in Philadelphia, Pennsylvania and focused on the creation of digital products for the publishing industry.[6] In 2011, Puscar brought Yuxi Pacific to Medellin, Colombia.[6] By 2013, the company had more than 100 employees in Medellín and had quadrupled its annual revenues.[6]

Puscar has been dubbed a hero in the "Medellin Miracle," a transformation in which the city changes its reputation from the land of violent drug cartels to a modern metropolis.[6][7] While Puscar supports government backing, he believes private initiatives will ultimately lead to the rebranding of Colombia.[8] Puscar has written about the Colombian economy.[9] Puscar has given back to the community, donating computers to local Colombian schools.[8]

Yuxi Pacific was acquired by Blue Loop Capital in June 2013 for an undisclosed amount of cash.[10]

GITP Ventures[edit]

Following the acquisition of Yuxi Pacific, Puscar founded GITP Ventures, a venture capital firm based in South America.[11] Through GITP, Puscar invested in more than 6 Colombian companies, including "Colombia Focus", "Publicize",[12] and "IPSUM Clinical",[13] among others. The first investment made by GITP was in software company Lex Paradigm. The company was acquired less than two years later in January 2014.[14]

Miguelo Romano[edit]

In 2014, Puscar co-founded Miguelo Romano, the world's first and only provider of blade and bullet resistant consumer clothing that is lightweight.[15][16][17] Puscar was interviewed by Vice Media regarding the company.[18]

Other Ventures[edit]

In 2017, Puscar launched Oiga Technologies.[19] Oiga is a professional services firm focused upon emerging technology. In May 2023, Oiga Technologies was acquired by 10Pearls, a move that significantly boosted high-tech software development in Colombia.[20] This acquisition also allowed 10Pearls to expand their advanced emerging technology capabilities in the Latin America region.[21] The acquisition marked Puscar's third successful sale of a software company in Colombia.[22]

In 2020, Puscar co-founded and invested in NPCx, a software company using artificial intelligence to create more realistic 3D animation in video games.[23] In August 2023, NPCx received a $3 million dollar seed round investment from Kakao Investment.[24]

In recent years, Puscar has emerged as an ardent advocate for the use of artificial intelligence (AI) in emerging markets, seeing it as a key driver for equitable growth and innovation. He believes that AI has the potential to significantly enhance access to essential services and improve the quality of life in countries like India, Bangladesh, and across the African continent.[25] Puscar posits that AI is not just a technological advancement for the elite but a transformative tool that democratizes opportunities, enabling a wide range of industries to innovate and scale.[26] His insights underscore the importance of AI in bridging developmental gaps and fostering economic progress in these regions.[27]

Personal life[edit]

Puscar is the son of Michael and Paula Puscar. His father, Michael Puscar Sr, was a laborer and machinist. Puscar started programming in the 1980’s at 11 years old after he convinced his parents to buy him a Commodore 64 for Christmas.[28] Puscar has since been active in donating computers to children in poor communities in Colombia, citing the impact that his first computer had on his life.[29]

In 2015, Puscar married Johana Buriticá, a fashion blogger from San Luis, Colombia.[30]

References[edit]

  1. ^ Q&A with Cameron Madani and Michael Puscar. Retrieved 17 Feb 2022.
  2. ^ "Google Scholar". Retrieved 17 February 2022.
  3. ^ "Video captures panic INSIDE plane during Rome crash-landing". AOL Travel. Retrieved 12 August 2016.
  4. ^ "Italy plane crash seen from inside the aircraft". Telegraph. Archived from the original on 1 October 2013. Retrieved 12 August 2016.
  5. ^ "Brace for impact! From surviving a plane crash to starting-up in Colombia". Sociable. 3 February 2020. Retrieved 21 February 2020.
  6. ^ a b c d Moules, Jonathan (17 June 2014). "Start-ups rise as murders plummet in Medellín". Financial Times. Retrieved 11 August 2016.
  7. ^ Foster, Nick (14 March 2013). "Goodbye Gangland". Financial Times. Retrieved 12 August 2016.
  8. ^ a b Egusa, Conrad (22 November 2014). "Colombia Is One Of Latin America's Most Promising New Tech Hubs". Tech Crunch. Retrieved 11 August 2016.
  9. ^ Puscar, Michael (10 August 2015). "Colombia's currency conundrum". Colombia Reports. Retrieved 12 August 2016.
  10. ^ Ammachchi, Narayan (27 June 2013). "Blue Loop Capital Snatches Yuxi Pacific". Near Shores America. Retrieved 31 May 2017.
  11. ^ Egusa, Conrad. "Featured founder: Michael Puscar, pioneering VC in South America". Geektime. Retrieved 12 August 2016.
  12. ^ "Publicize Announces It Has Raised Funding From GITP Ventures". Publicize Web site. Retrieved 31 May 2017.
  13. ^ "Colombian CRO Ipsum Raises $200K in Angel Funding". Wall Street Journal. Retrieved 31 May 2017.
  14. ^ Yagoub, Mimi (11 February 2014). "XQuire acquisition highlights Colombia' growing appeal for global tech developers". Colombia Reports. Retrieved 31 May 2017.
  15. ^ Benscome, Melanie. "Knife-Resistant Clothing Line Miguelo Romano: From Medellin to the U.S." NBC News. Retrieved 12 August 2016.
  16. ^ Glade, Jim (18 December 2014). "INTERVIEW WITH MICHAEL PUSCAR, FOUNDER OF MIGUELO ROMANO". The Startup Magazine. Retrieved 12 August 2016.
  17. ^ "Míguelo Romano: High-Tech Menswear Inspired by the Streets of Medellín". Medellin Living. 18 August 2014. Retrieved 12 August 2016.
  18. ^ Grothaus, Michael. "This Stab-Proof Clothing Aims to Keep Medellin Safe". Vice. Retrieved 12 August 2016.
  19. ^ "Michael Puscar joins Oiga Technologies". GITP. Retrieved 17 January 2018.
  20. ^ "10Pearls acquires Oiga Technologies, boosting high-tech software development in Colombia". The Bogota Post. Retrieved 5 June 2023.
  21. ^ "10Pearls Expands Advanced Emerging Technology Capabilities with Acquisition of Oiga Technologies in LATAM". BusinessWire. Retrieved 5 June 2023.
  22. ^ "Empresa colombiana Oiga Technologies fue adquirida por 10Pearls". Entrepreneur. Retrieved 19 June 2023.
  23. ^ "Alberto Menache Joins NPCx as a Strategic Technical Advisor". Web Newswire. Retrieved 17 February 2022.
  24. ^ Takahashi, Dean (2023-08-29). "NPCx raises $3M for better game character mocap". VentureBeat. Retrieved 2023-08-31.
  25. ^ Navanwita Sachdev. "Transforming emerging markets: How AI is empowering consumers in India". Hindustan Times. Retrieved 15 November 2023.
  26. ^ "Inteligencia artificial y su poder para transformar el mundo empresarial en América Latina". Entrepreneur Magazine en Español. Retrieved 15 November 2023.
  27. ^ "Así la inteligencia artificial está creando un impacto positivo en la sociedad". Forbes Centroamerica. Retrieved 15 November 2023.
  28. ^ Takahashi, Dean (2023-08-29). "NPCx raises $3M for better game character mocap". VentureBeat. Retrieved 2023-08-31.
  29. ^ Narváez, "Álvaro (2023-06-21). "Cómo Medellín se está consolidando en un hub de startups: Entrevista con Michael Puscar". El Tiempo Blogs (in Spanish). Retrieved 2023-08-31.
  30. ^ Wedding Video. YouTube. Retrieved 31 May 2017.
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