Chile

Mexican venture firm ALL VP has a $73 million first close on its latest fund

Buoyed by international attention from U.S. and Chinese investors and technology companies, new financing keeps flowing into the coffers of Latin American venture capital firms. One day after the Brazilian-based pan-Latin American announced the close of its $150 million latest fund comes word from our sources that ALL VP, the Mexico City-based, early stage technology investor, has held a first close of $73 million for its latest investment vehicle. The firm launched its first $6 million investment vehicle in 2012, according to CrunchBase, just as Mexico’s former President Enrique Peña Nieto was coming to power with a pro-business platform. One which emphasized technology development as part of its strategy for encouraging economic growth. ALL VP founding partner Fernando Lelo de Larrea sai...

Lending startup Portal Finance nabs $200 million for small business loans in Latin America

Latin American small businesses just got a big boost with a new commitment for a $200 million lending joint venture between the Bogota-based startup Portal Finance and Latin America’s largest financial services institution, BTG Pactual. For Portal Finance, the deal with BTG caps a meteoric rise, which has seen the company raise $1.5 million at a $60 million valuation and move from a small $5 million lending pilot to a $200 million deal in the span of two years. “A year ago we were four guys in a closet. Now we’re 70 people,” says Diego Caicedo, the company’s chief executive and co-founder.  The company’s success is a testament to the changing fortunes of many Latin American economies and the role that venture capital is playing. For the last several years Colombia’s economic fortunes have ...