The most notable position Schulman had was president and CEO of PayPal for nine years, a position he left at the conclusion of the previous year. At the moment, he is a board member of Lazard, Cisco, and Verizon.

The group's current managing partner, Scott Sobel, announced the appointment and described Schulman as a "long-time friend, mentor, and business partner."

The group will use Schulman "two to three days a week," according to him, and he will "work with select founders and portfolio companies, be involved in strategy, new investments, and decision making, and support our firm to scale."

In 2011, Sobel and his father Clifford Sobel, the former US ambassador to Brazil, co-founded Valor money to counter what he calls the "virtually non-existent" amounts of venture money that were then coming into Latin America (LatAm).

Since then, the organization has grown in recognition throughout fundraising rounds in North and South America, having supported companies such as the Brazilian trade finance fintech Vixtra, the US-based LatAm-focused fintech Deuna, and the agriculture capital provider Agrolend, among others.

Valor Capital is "doubling down on our mission to be the bridge across LatAm and global tech markets" with Schulman joining the company, according to Sobel.