Nov. 30, 2012
/PRNewswire/ -- CAF –development bank of Latin America– signed agreements with three Mexican investment funds to promote SMEs, as part of a strategic alliance with NAFIN and other Mexican development banks. Funding recipients are Mexico Fund of Funds II, Adobe Social Mezzanine Fund I and Evercore Mexico Capital Partners Fund III, in which CAF will make equity investments.
For 18 years,
has been pursuing a policy of promoting entrepreneurship, venture capital and SMEs, all areas in which CAF has vast experience in Latin American countries.
The three agreements were signed during CAF President
's official visit to
, where he attended the inauguration of Mexican President
Enrique Pena Nieto
Garcia said CAF's participation in investment funds is part of the institution's policy of supporting SMEs in
. "This activity has a positive impact on economic growth, as this type of capital investment promotes the creation of new businesses, new products and services, jobs and the emergence of entrepreneurs," he said.
Equity investment in Mexico Fund of Funds II
The first agreement to be signed was on CAF's equity investment in
Funds Fund II, which will be managed by Corporacion Mexicana de Inversiones de Capital (CMIC), formed by Nacional Financiera, Banobras, Bancomext and FOCIR, and whose mission is to promote investments in venture capital in
The agreement was signed by CAF President
; Nacional Financiera Director General
; and CMIC Director General
. The signing ceremony was attended by officials from the Ministry of Finance and NAFIN.
CAF will invest
and will have a seat on the fund's investment committee. This is intended to encourage the growth of venture capital funds in
, often overlooked by independent investment managers.
The fund of funds' structure will allow the issuance of certificates of deposit, in which Mexican pension funds, AFORES, can purchase.