MICROCAPITAL BRIEF: Multilateral Investment Fund Places $5m in Equity in Fund for Mexican SMEs

The Multilateral Investment Fund (MIF), an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB), has made a USD 5 million equity investment in Mexico Development Fund I (MDF-I), a venture capital fund focused on small and medium-sized Mexican businesses providing education, financial or retail services. MDF-I is managed by PC Capital Partners, a financial services firm based in Mexico. 

Susana Garcia-Robes, principal specialist in charge of early stage financing at MIF, said, “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…”.

As of 2010, MIF reported having approved 102 projects and USD 116 million committed for new projects. As of 2011, IDB reported total assets of USD 89 billion. Financials on MDF-I and PC Capital Partners have not been reported.

By: Webster Hughes, Research Associate

About The Multilateral Investment Fund: Multilateral Investment Fund (MIF) is an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB). Now a member of the IDB Group, MIF has 39 donating member countries from the Americas, Europe and Asia. As of 2010, MIF reported having approved 102 projects and USD 116 million committed for new projects.

About The Inter-American Development Bank: The Inter-American Development Bank (IDB) is a US-based multilateral finance institution that was established in 1959 and operates in Latin America and the Caribbean. IDB works with governments, companies and nongovernmental organizations (NGOs) to provide both loans and grants to support small and medium-sized enterprises (SMEs), health, education and other sectors. IDB also provides technical assistance and research in these areas. Its Board of Executives is elected by 48 member countries, 26 of which are located in Latin America and the Caribbean. As of 2011, IDB reported total assets of USD 89 billion. The IDB is headquartered in Washington, DC, with offices also in Japan, France and all 26 member countries in Latin America and the Caribbean.

About Mexico Development Fund I (MDF-I): The Mexico Development Fund I (MDF-I) is a venture capital fund that makes impact investments in Mexican businesses providing education, financial or retail services. MDF-I is set to be managed by PC Capital Partners, a financial services firm based in Mexico. The size of the fund has not been reported. The Multilateral Investment Fund recently made a USD 5 million equity investment in MDF-I.

About PC Capital Partners: Headquartered in Mexico City, PC Capital Partners is a financial services company with investment banking and private equity divisions. It manages the Mexico Development Fund I. Its financials are not publicly reported.

Sources and Additional Resources:

Information sent to MicroCapital by Inter-American Development Bank Group.

MicroCapital story, “MICROCAPITAL BRIEF: Inter-American Development Bank (IDB), Multilateral Investment Fund (MIF), CAF Development Bank of Latin America Issue Call for Proposals for Technologies for Financial Inclusion Program”, https://www.microcapital.org/microcapital-brief-inter-american-developmen

MicroCapital Universe Profile: The Multilateral Investment Fund, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Multila

MicroCapital Universe Profile: Mexico Development Fund I (MDF-I), http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Mexico+

MicroCapital Universe Profile: Inter-American Development Bank, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Inter-A

MicroCapital Universe Profile: PC Capital Partners, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=PC+Capi

Browse the MicroCapital Universe and add your entry to the wiki at: http://microcapital.org/microfinanceuniverse/tiki-index.php

 

Similar Posts: