The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has approved an equity investment of $4million to the Angel Ventures Pacific Alliance Fund (AVPAF). This regional fund aims to invest in and offer guidance to 25 innovative start-up and scale-up companies, in the sectors of fin-tech, health/bio-tech, agro-technology/base of the pyramid, ICT/media, and retail/consumer, with high growth potential in the Pacific Alliance.
The AVPAF target size is US$ 80million, and through its triple bottom line approach, it will invest in companies that have an innovation-centric competitive advantage, high-growth potential, good governance practices, a well-defined plan to expand into the region’s biggest markets, and are engaged in generating a positive social, economic, and environmental impact on society.
Created in April of 2011, the Pacific Alliance is an initiative of regional integration comprised by Chile, Colombia, Mexico and Peru. The IDB Group has been supporting the Pacific Alliance since its inception, given the importance of this project for regional integration and its emergence as one of the most dynamic economic areas in the world.
In 2015, the Alliance asked the MIF for support to create a venture capital fund focused on start-up and scale-up companies. Angel Ventures was selected to manage the fund in a competitive process established by the member countries, in which 17 proposals were reviewed by a Selection Committee. This Fund is taking to scale the endeavor that Angel Ventures started in 2013 with the AVM Co-Investment Fund I (AVM-I) in Mexico, a US$ 20million VC fund focused on innovative start-ups with high-growth potential, in which the MIF also invested.
About the MIF
The Multilateral Investment Fund is the innovation lab for the Inter-American Development Bank Group. It conducts high-risk experiments to test new models for engaging and inspiring the private sector to solve economic development problems in Latin America and the Caribbean. The MIF addresses poverty and vulnerability by focusing on emerging businesses and smallholder farmers with the capacity to grow and create economic opportunities. Learn more at www.fomin.org.
About Angel Ventures
Angel Ventures is a venture capital firm that seeks to link great ideas with capital. Its main objective is to provide intelligent capital by adding value to every investment made. Angel Ventures promotes the development of its firms through continuous monitoring, connecting entrepreneurs to a network of investors and by providing range of services to entrepreneurs.
- José Luis Lobera