Newsletter 10th Edition

AMEXCAP
Special Edition - AMEXCAP Newsletter - Exclusively for Members
TENTH  EDITION, 2013 FEBRUARY 19, 2013
 
Transactions & Headlines
  

 

WAMEX announces the fourth investment of its Mexico PE Fund MIF II in Productos Medix.

Mexico City based WAMEX Private Equity announced the fourth investment of its second growth equity fund MIF II in Productos MEDIX, S.A.P.I. de C.V (MEDIX), in the amount of US$ 32 million. MEDIX is a 55 year-old leading Mexican pharmaceutical company that develops and produces branded medicines and treatments for patients with overweight and obesity conditions. The company has a portfolio of more than 50 products prescribed throughout Mexico, Colombia and Argentina. WAMEX was the first manager to raise institutional funding for private equity investments from Mexican pension funds via a publicly listed CKD vehicle. To date, WAMEX has invested 65% of MIF II commitments in four Mexican companies: Hoteles City Express (budget business hotels), Health Digital Systems (a healthcare IT company), Water Capital (sustainable solutions financing) and MEDIX (overweight and obesity pharma) (January 31, 2013).

 

IGNIA leads investment of MXN$ 104.4 million in Procesa Chiapas.

IGNIA Fund I, the largest impact investing Fund in Latin America, announced today the joint investment with Endeavor Catalyst of $104.4 million pesos in Procesamiento Especializado de Alimentos ("Procesa Chiapas"). Procesa Chiapas has developed products with high nutritional value for different markets, including low-income children who are served through government food assistance programs. IGNIA Fund I and Endeavor Catalyst invested in Procesa Chiapas to enhance its business expansion, new product development, management team and reinforce its productive capacity. IGNIA's team has worked side by side with Procesa Chiapas for the last 5 months, developing the company's future business plan and investment strategy. "IGNIA's vision is to help build a more equitable Mexico.  Achieving high quality nutrition and a balanced diet that is affordable and accessible for all levels of society is part of our solution. That is why we are investing in Procesa Chiapas, a company with innovative and agile entrepreneurs with a social conscience, "said Leon Kraig, Partner and Managing Director of IGNIA. "Procesa Chiapas is the first investment of Endeavor Catalyst in Mexico," said Linda Rottenberg, co-founder of Endeavor.  "This is an example of high-impact entrepreneurs whose vision and innovation are helping Mexico", she added. Pilar Aguilar of Endeavor Mexico added: "At Endeavor we have seen Procesa Chiapas transform itself from a micro business with a local model, to a large company with a national footprint. Endeavor is proud to support entrepreneurs whose vision, work and commitment towards Mexico can transform an industry and improve the quality of life of millions of Mexicans". Endeavor Catalyst has invested in Procesa Chiapas as part of its mandate to co-invest in the professional funding rounds of all Endeavor Entrepreneurs.  Procesa Chiapas was chosen an Endeavor Entrepreneur in 2007 (Mexico City, January 29, 2013).

  

Advent International acquires significant stake in InverCap Holdings.

Advent International, one of the leading global private equity firms, announced that it has acquired a significant stake in InverCap Holdings, whose main subsidiary, Afore InverCap, is the largest independent mandatory pension fund administrator in Mexico. With this investment, Advent will support InverCap's continued growth and success, helping the company maintain its leading position in delivering service and investment returns to its customers. InverCap was founded in 1997 and is headquartered in Monterrey, Mexico. Afore InverCap, InverCap's main subsidiary, manages one of Mexico's best-performing pension funds for private and public sector workers in the country. Since inception, the company has grown its assets under management by generating industry-leading investment performance and establishing strong distribution capabilities. Today, InverCap invests the retirement savings of approximately three million employees nationwide, with total assets under management of US$7.3 billion as of October 2012. "We are pleased to partner with InverCap's exceptional management team and to support the continued growth of not only the company but also the Mexican pension system," said Luis Solórzano, Managing Director at Advent International and Head of its Mexico Office. "We look forward to working with InverCap as it continues to seek the best investment opportunities to increase its beneficiaries' savings and safeguard their retirement."

"We are excited to welcome a leading and respected global investor such as Advent as a new shareholder," said César Montemayor, Chief Executive Officer of InverCap. "Advent has a strong track record in Mexico and in supporting the growth of financial services companies. Their involvement will enhance our ability to continue to meet the retirement goals of the millions of Mexican workers who entrust their savings to our funds." Advent has actively contributed to the development of the financial services sector globally and across Latin America. Since its founding, the firm has invested in over 65 such companies worldwide and 12 financial services companies in Latin America. Advent has been operating in Mexico since 1996, during which time it has invested in 22 Mexican businesses. Its investments in the Mexican financial services sector have included Consultoría Internacional Casa de Cambio, a provider of currency-exchange services; and DolEx Dollar Express, an electronic money transfer firm operating in the U.S.-to-Latin America corridor.

(December 14, 2012).

 

8th Mexican PE, VC and Seed Capital Summit
 
On February 12-13, 2013, AMEXCAP, in collaboration with Deloitte and sponsors hosted the largest private equity forum in Mexico bringing together over 450 participants of the ecosystem in Mexico:general partners, institutional investors, entrepreneurs, specialist service providers, academia and policy makers to discuss growth opportunities in strategic sectors and to showcase successful private equity partnerships. 

Download a complete summary of the 18 panels on the following link: Download Summary Exclusively for Members
 
The Summit brought to centre stage CEOs and entrepreneurs who have received PE support and highlighted the sources of value creation in the Mexican private equity market.
Upcoming Events
 

 

AMEXCAP's Mexico Private Equity Day - New York City, May 2013. Stay tuned for details.

If you would like to share a story or contribute to the newsletter please reach out to rgranja@amexcap.com
 
Kind Regards,
 
AMEXCAP

Mexican Association of PE & VC Funds

Upcoming Events

 

 

AMEXCAP Mexico PE Day NYC, May, 2013