Committed to a fair and empathic investment process in a two-way conversation
We seek to become an extension of your team, as passionate if not more passionate than founders about the startup mission. Jimena and Federico have lived through successes, failures and nuclear winters. We know the VC game. We’ve helped scale startups from 0 to exit. We’ve been in the founder's shoes.
We evaluate all teams with our Hi score, an internal framework of 35 dimensions across 7 themes - entrepreneurial savoir faire, leadership, technical craft, business savviness, ability to attract investors, hacker mentality and determination.
We seek startups solving the hardest problems in Latin America. While we understand great startups can be built serving niches, we have a bias for large and growing markets across the region.
Finally, we seek to find a reasonable path to exit for more than $1 billion.
Do we invest in specific sectors?
Yes. We are focused on Fintech, The Future of Commerce, Smart Cities, Foodtech, and Human Capital, including HR, EdTech, and HealthTech. We love B2C as much as B2B businesses. We do not invest in hardware startups, biotechnology or crypto.
In which rounds do we typically invest and what is our typical investment?
We mainly focus on investing in Pre-Seed, Seed and Series A rounds. Our ticket sizes have ranged from $1 to $10 million dollars. If all goes well, we try to invest in multiple rounds.
At what stage of the startup development do we invest?
At Pre-Seed, we invest in pre-revenue startups. In those cases, our emphasis will be placed on the team-market fit and a clear path to revenue generation.
At Seed, we expect startups to have a product live and a great team building it.
At Series A, we back startups with product-market fit, proven by fast growth, great retention and a sound go-to-market strategy.
Do we lead investment rounds?
Yes, we only invest if we can lead or co-lead rounds. We ask for a board seat and dedicate significant time to securing your success. Because of our selectivity with whom we commit for the long run, we make fewer investments than a typical early-stage investor.
Do we only invest in Mexico?
No. While many of our investments must have Mexico as a strategic market, we back companies from Latin American countries and the rest of the world. We focus on Mexico as a core market because that is where we can add the most value.
As for the jurisdiction of the holding company, we have a preference for the proven circunscription such as Delaware or Cayman.
Typically, stages 1 through 4 can take between one and four weeks, while stages 5 through 7 can take between two to six weeks.
We can expedite the process should conditions require and allow. The whole process can be completed over a few weeks.
We are fast but diligent!
We add value in the following 5 ways:
Since 2012, we have invested and helped raise more than $500 million dollars in more than 40 companies.
We have helped exit or merge more than 10 companies, including Cornershop, which was acquired by Uber for $3B in 2021, in one of the most successful exits in Latin America.
