Michael Puscar

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Michael Puscar
EducationB.S. Temple University
OccupationEntrepreneur
Venture capitalist
Philanthropist
Known forFounder of Yuxi Pacific and GITP Ventures
Spouse(s)Johana Buriticá

Michael Puscar is an Italian entrepreneur and venture capitalist. Puscar has founded several companies including Yuxi Pacific, GITP Ventures, Miguelo Romano and Betiply, among others. He is a 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.[1][2]

In 2020, Puscar revisited the crash in an episode of Brains Byte Back with Sam Brake. In the podcast, Puscar stated that he thought we was going to die and that the event significantly impacted his outlook on life.[3]

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.[4] In 2011, Puscar brought Yuxi Pacific to Medellin, Colombia.[4] By 2013, the company had more than 100 employees in Medellín and had quadrupled its annual revenues.[4]

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.[4][5] While Puscar supports government backing, he believes private initiatives will ultimately lead to the rebranding of Colombia.[6] Puscar has written about the Colombian economy.[7] Puscar has given back to the community, donating computers to local Colombian schools.[6]

Yuxi Pacific was acquired by Blue Loop Capital in June 2013 for an undisclosed amount of cash.[8]

GITP Ventures[edit]

Following the acquisition of Yuxi Pacific, Puscar founded GITP Ventures, a venture capital firm based in South America.[9] Through GITP, Puscar invested in more than 6 Colombian companies, including "Colombia Focus", "Publicize",[10] and "IPSUM Clinical",[11] 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.[12]

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.[13][14][15] Puscar was interviewed by Vice Media regarding the company.[16]

Oiga Technologies[edit]

In 2017, Puscar launched Oiga Technologies.[17] Oiga is a professional services firm.

Personal life[edit]

Puscar is the son of Michael and Paula Puscar. His father, Michael Puscar Sr, was a laborer and machinist. Puscar Sr. died in September 2007.[18]

In 2015, Puscar married Johana Buriticá, a fashion blogger from San Luis, Colombia.[19]

References[edit]

  1. ^ "Video captures panic INSIDE plane during Rome crash-landing". AOL Travel. Retrieved 12 August 2016.
  2. ^ "Italy plane crash seen from inside the aircraft". Telegraph. Retrieved 12 August 2016.
  3. ^ "Brace for impact! From surviving a plane crash to starting-up in Colombia". Sociable. Retrieved 21 February 2020.
  4. ^ a b c d Moules, Jonathan. "Start-ups rise as murders plummet in Medellín". Financial Times. Retrieved 11 August 2016.
  5. ^ Foster, Nick. "Goodbye Gangland". Financial Times. Retrieved 12 August 2016.
  6. ^ a b Egusa, Conrad. "Colombia Is One Of Latin America's Most Promising New Tech Hubs". Tech Crunch. Retrieved 11 August 2016.
  7. ^ Puscar, Michael. "Colombia's currency conundrum". Colombia Reports. Retrieved 12 August 2016.
  8. ^ Ammachchi, Narayan. "Blue Loop Capital Snatches Yuxi Pacific". Near Shores America. Retrieved 31 May 2017.
  9. ^ Egusa, Conrad. "Featured founder: Michael Puscar, pioneering VC in South America". Geektime. Retrieved 12 August 2016.
  10. ^ "Publicize Announces It Has Raised Funding From GITP Ventures". Publicize Web site. Retrieved 31 May 2017.
  11. ^ "Colombian CRO Ipsum Raises $200K in Angel Funding". Wall Street Journal. Retrieved 31 May 2017.
  12. ^ Yagoub, Mimi. "XQuire acquisition highlights Colombia' growing appeal for global tech developers". Colombia Reports. Retrieved 31 May 2017.
  13. ^ Benscome, Melanie. "Knife-Resistant Clothing Line Miguelo Romano: From Medellin to the U.S." NBC News. Retrieved 12 August 2016.
  14. ^ Glade, Jim. "INTERVIEW WITH MICHAEL PUSCAR, FOUNDER OF MIGUELO ROMANO". The Startup Magazine. Retrieved 12 August 2016.
  15. ^ "Míguelo Romano: High-Tech Menswear Inspired by the Streets of Medellín". Medellin Living. Retrieved 12 August 2016.
  16. ^ Grothaus, Michael. "This Stab-Proof Clothing Aims to Keep Medellin Safe". Vice. Retrieved 12 August 2016.
  17. ^ "Michael Puscar joins Oiga Technologies". GITP. Retrieved 17 January 2018.
  18. ^ "Obituaries for September 17, 2007". The Times Herald. Retrieved 31 May 2017.
  19. ^ Wedding Video. YouTube. Retrieved 31 May 2017.