. ▁ ▁In ▁ 1 9 9 6 , ▁Esp uel as ▁en vision ed ▁the ▁portal ▁that ▁would ▁" un ite " ▁Latin ▁America : ▁St arm edia . ▁" With ▁the ▁Internet , ▁we ' re ▁talking ▁about ▁a ▁fundamental ▁shift ▁in ▁the ▁power ▁structure ▁from ▁the ▁institution ▁to ▁the ▁individual ," ▁Esp uel as ▁said . ▁ ▁After ▁a ▁fr ustr ating ▁year ▁and ▁a ▁half ▁of ▁approaching ▁vent ure ▁capital ists ▁to ▁invest ▁in ▁his ▁vision , ▁only ▁to ▁have ▁them ▁uniformly ▁refuse , ▁many ▁av ow ing ▁that ▁Lat ins ▁" did ▁not ▁like ▁technology " ▁and ▁would ▁never ▁use ▁the ▁Internet , ▁the ▁company ▁went ▁on ▁to ▁raise ▁$ 2 . 5 ▁million ▁in ▁ 1 9 9 7 . ▁ ▁It ▁was ▁the ▁first ▁vent ure ▁capital ▁ever ▁inv ested ▁in ▁a ▁Latin ▁Internet ▁company . ▁Over ▁the ▁next ▁four ▁years , ▁the ▁company ▁raised ▁over ▁$ 5 0 0 ▁million ▁in ▁invest ments , ▁including ▁capital ▁from ▁Ch ase ▁Manh attan ▁Bank , ▁G E ▁Capital , ▁e B ay , ▁the ▁H ear st ▁Corporation , ▁Intel ▁Capital , ▁N BC ▁and ▁David ▁Rock ef eller . ▁ ▁According ▁to ▁the ▁New ▁York ▁City ▁In vest ment ▁Fund , ▁"[ Esp uel as ] ... ▁spoke ▁about ▁the ▁impact , ▁similar ▁to ▁that ▁of ▁economic ▁integration ▁on ▁European ▁nations , ▁that ▁his ▁business ▁would ▁have ▁un ifying ▁Latin ▁American ▁people ▁separated ▁by ▁national ▁borders . ▁A ▁board ▁member ▁interrupted ▁him . ▁It ▁was ▁David