Multilateral Investment Fund backs Mexican venture firm PC Capital Partners with $5m – Noviembre 2012
The Multilateral Investment Fund (MIF) has made a $5m commitment to venture firm PC Capital Partners’ Mexico Development Fund I (MDF-I).
MDF-I will focus on Mexico-based companies that provide education, financial and retail services, or produce eco-friendly products targeted at a growing and young local middle class.
The MIF is a member of the Inter-American Development Bank Group, and is an active investor in seed and venture capital funds in Latin America and the Caribbean.
The investments made by MDF-I are expected to have economic and social benefits in terms of fostering entrepreneurship, creating direct and indirect employment, promoting sustainable business models and expanding education opportunities to broader populations, according to Susana García-Robles, principal specialist and team leader of the operation at the MIF.
“The fund presents a compelling impact investment case that will benefit Mexico’s young and growing low-income population that is now transitioning into the middle class,’’ she said. “This segment of the population is fueling demand for secondary, technical and professional training as well as to services and energy sources that are environmentally friendly and financial and retail services tailored to their needs.”
MIF investment in the Fund will play a role in supporting the development of the local venture capital industry, building local management capabilities, demonstrating the financial viability of these vehicles, and mobilising critical investors and stakeholders.
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