Saturday , May 8 2021

ALLVP acquires $ 73 million for the third investment fund



THE CITY OF MEXICO (expansion). The Antoni Lelo fund from Larrea Venture Partners (ALLVP) has a new pool to invest in start-ups. On November 14, he made the first closure for $ 73 million of his third investment vehicle, which is aimed at $ 100 million. The funds will be used to finance at least eight sectors of health, fintech technology, digital consumption and smart cities.

ALLVP started the creation of capital in October 2017, in a process that required a year of preparation for talks with other investors and high discipline, explains Fernando Lelo de Larrea, founding partner. "We had to invest 75% of the previous fund to raise funds officially. In October 2017 we announced an announcement on the Mexican Stock Exchange, so you can sit down and talk to the Venture" – explains the investor.

To this third instrument, pension funds were added through CKD, development agencies, fund funds, corporate and family offices, as well as other investors from Mexico, Colombia and Chile. "A better understanding of institutional investors about the benefits and benefits of venture capital," says Lelo de Larrea.

Lee: La Comer breaks the Cornershop and accelerates its own e-commerce channel

The first two ALLVP funds collected in 2014-2015 amounted to 6.5 million dollars and 36 million dollars respectively. The first closure of the third fund is twice the previous one. "This is a great differentiator, now we have more resources that accompany companies in the next stages of growth", the investor abounds.

Investment tickets range from $ 500,000 of seed capital to $ 11 million in the B series or more advanced stages of the business. The investor estimates that it will take another nine months to raise the remaining $ 27 million to top up the fund, but this first closure allows him to start investing.

"We have started an intensive phase of the company's analysis in November and December and we will start 2019 with the first investments", says De Larrea. The entrepreneur claims that the resources will be used exclusively to finance new companies. "It will not be used to invest in any company from previous funds." There is no clear focus on investing in Mexico, but we have an appetite for the region, encouraged by what happened to the Cornershop, "he says.

We recommend: Walmart buys Cornershop for $ 225 million and sells it to Walmart de México

On September 13, Walmart Inc. bought for $ 225 million start-up Chilean Cornershop, an e-commerce supermarket platform in which ALLVP invests. This was the fourth way out of the fund this year: the Carrot company, petrodukt e-commerce Petsy and the Aplázame credit platform were taken over by strategic players.


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