Welcome!

Adobe Flex Authors: Matthew Lobas, PR.com Newswire, Shelly Palmer, Kevin Benedict

News Feed Item

CAF promotes Mexican SMEs through venture capital funds

- Three agreements are signed during CAF President Enrique Garcia's official visit to Mexico.

MEXICO CITY, Nov. 30, 2012 /PRNewswire/ -- CAF –development bank of Latin America– signed agreements with three Mexican investment funds to promote SMEs, as part of a strategic alliance with NAFIN and other Mexican development banks. Funding recipients are Mexico Fund of Funds II, Adobe Social Mezzanine Fund I and Evercore Mexico Capital Partners Fund III, in which CAF will make equity investments.

For 18 years, Mexico has been pursuing a policy of promoting entrepreneurship, venture capital and SMEs, all areas in which CAF has vast experience in Latin American countries.

The three agreements were signed during CAF President Enrique Garcia's official visit to Mexico City, where he attended the inauguration of Mexican President Enrique Pena Nieto.

Garcia said CAF's participation in investment funds is part of the institution's policy of supporting SMEs in Mexico and Latin America. "This activity has a positive impact on economic growth, as this type of capital investment promotes the creation of new businesses, new products and services, jobs and the emergence of entrepreneurs," he said.

Equity investment in Mexico Fund of Funds II

The first agreement to be signed was on CAF's equity investment in Mexico Funds Fund II, which will be managed by Corporacion Mexicana de Inversiones de Capital (CMIC), formed by Nacional Financiera, Banobras, Bancomext and FOCIR, and whose mission is to promote investments in venture capital in Mexico.

The agreement was signed by CAF President Enrique Garcia; Nacional Financiera Director General Hector Rangel; and CMIC Director General Felipe Vila. The signing ceremony was attended by officials from the Ministry of Finance and NAFIN.

CAF will invest $40 million and will have a seat on the fund's investment committee. This is intended to encourage the growth of venture capital funds in Mexico, often overlooked by independent investment managers.

The fund of funds' structure will allow the issuance of certificates of deposit, in which Mexican pension funds, AFORES, can purchase.

Once it reaches its maximum size, the fund will become a catalyst for direct investments of more than $550 million in companies, as well as Mexican and Latin American projects with high development potential. Mexico Fund of Funds II will become a benchmark investor in the national market and will help maintain the high growth rate of the Mexican economy, as well as promote the implementation of international best practices in sustainability and corporate responsibility.

In addition to the equity investment, CAF also will contribute with its know-how in the  management of venture capital funds in Latin America. It will also support the implementation of best practices in social and environmental protection.

Equity investment in Evercore Mexico Capital Partners III

The second agreement was the $10 million equity investment in the Evercore Mexico Capital Partners Fund III. The fund will focus on investing in companies with high growth potential and provide goods and / or services to the Mexican domestic market. This is the third Mexican fund to be managed by the Evercore firm, expecting to repeat its previous funds' success, which, among other investments, supported the development of flagship companies such as Volaris, Morepharma, Ike Assistance, Lipu Transporte. The fund will be a catalyst for direct equity investments of up to $150 million.

The agreement was signed by CAF President Enrique Garcia, Evercore Mexico CEO Pedro Aspe, and Fund Executive Director Alfredo Castellanos.

Equity investment in Adobe Social Mezzanine Fund I

The third agreement was CAF's $2 million equity investment in Adobe Social Mezzanine Fund I.

Adobe Social Mezzanine Fund I, L.P. is a venture capital and technical assistance fund that will make equity investments or buy subordinated debt in small companies or those in their early stages of growth, with a social and environmental focus. This fund seeks to support the early growth of companies offering products and services that have significant impact and improve the quality of life of a large number of people, with particular emphasis on underserved communities.

CAF's participation in Adobe Social Mezzanine Fund I will enable the Latin American financial institution to indirectly reach small and medium enterprises in Mexico, to help these companies grow with capital, advice, networking, management experience, best practices and other added value products offered by the Fund.

In addition to CAF's representative, the agreement was signed by Erik Wallsten, managing partner of Adobe Capital, Felipe Vila, representative of Mexico Ventures I and Gerardo Ramos, head of research and investment management at Promotora Social Mexico.

The mission of CAF,--development bank of Latin America--, is to promote sustainable development and regional integration, by financing projects in the public and private sectors and providing technical cooperation and other specialized services. Established in 1970, it currently has 18 shareholder nations –16 in Latin America and the Caribbean, along with Spain and Portugal– and 14 private banks, and is a major source of multilateral financing as well as an important source of knowledge in the region. More information at www.caf.com.

SOURCE CAF

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...