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Our latest press releases and project announcements. 

MIF invests in Mexican Venture Fund for Services Innovation

Jun 3, 2014

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has approved a $2 million equity investment in Venture Innovation Fund II, a Mexican early stage venture capital fund that will provide long-term financing and value-added guidance on business development for up to 14 start-ups in Mexico.

Venture Innovation Fund II’s strategy will be to target companies in the health care services, financial services, and other technology services (education, e-commerce, etc.) sectors. Target companies will be at an early stage, and the Fund will make initial investments of at least US$ 400K with follow-on investments determined by company performance.  The fund will be managed by Venture Partners, LP, founders of the Venture Institute accelerator in Mexico City.

“The Fund’s commitment to financing innovative service technologies is not only expected to stimulate creation of high-skilled jobs, but also to expand access to health and financial services for underserved communities,” said MIF Senior Investment Officer Rogerio Ramos.

The MIF has an extensive track record investing in seed and VC funds throughout the Latin American and Caribbean region, and has pioneered the first efforts to build the industry in Mexico. All this experience will allow the MIF to provide relevant know-how during the Fund’s fundraising and operational stages.  The MIF will also add value to the new fund’s managers by facilitating access to a network of practitioners and potential partners, and by promoting the use of international best practices, environmental, and social standards in the fund’s corporate governance.

About the MIF

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is funded by 39 donors and supports private sector-led development benefitting low-income populations and the poor - their businesses, their farms, and their households. The aim is to give them the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory - experimenting, pioneering, and taking risks in order to build and support successful micro and SME business models. More information at www.fomin.org.

 

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Remittance recipients in the Northern Triangle: New insights from the MIF

Analysts often refer to El Salvador, Guatemala, and Honduras – together constituting the so-called Northern Triangle - as particularly illustrative examples of the importance of remittances for the countries of Latin America and the Caribbean (LAC). They rightly do so. For one, the three countries receive relatively large amounts of these international financial flows. In 2015 remittances to the Northern Triangle exceeded $14 billion, constituting approximately a fifth of the total migrant transfers received by all LAC countries and corresponding to 17%, 10% and 18% of the gross domestic products of El Salvador, Guatemala and Honduras, respectively.

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When it comes to Brazil, look past the headlines

I just came back from California, where the Brazilian VC/PE Association, ABVCAP, held its fourth InBrazil Forum. The idea of these fora is to introduce Brazil and its investment opportunities to Silicon Valley (SV) investors. It showcases entrepreneurs and funds from the country, as well as other actors from the ecosystem: lawyers, government agencies, family offices, corporations, Silicon Valley Bank, and the MIF; all with track records supporting the VC/PE industry in Brazil and other countries.
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Alianza multisectoriales: aprendiendo a mirar el mundo a través de los ojos de los otros

Seis hindúes sabios, inclinados al estudio, quisieron saber qué era un elefante. Como eran ciegos, decidieron hacerlo mediante el tacto. El primero en llegar junto al elefante, chocó contra su ancho y duro lomo y dijo: «Ya veo, es como una pared». El segundo, palpando el colmillo, gritó: «Esto es tan agudo, redondo y liso que el elefante es como una lanza». El tercero tocó la trompa retorcida y gritó: «¡Dios me libre! El elefante es como una serpiente». El cuarto extendió su mano hasta la rodilla, palpó en torno y dijo: «Está claro, el elefante es como un árbol». El quinto, que casualmente tocó una oreja, exclamó: «Aún el más ciego de los hombres se daría cuenta de que el elefante es como un abanico». El sexto, quien tocó la oscilante cola, acotó: «El elefante es muy parecido a una soga». Y así, los sabios discutieron largo y tendido, cada uno excesivamente terco y violento en su propia opinión y, aunque parcialmente en lo cierto, estaban todos equivocados. Parábola atribuida a Rumi, sufí persa del s. XIII.
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