Provive Raises MXN$44M from IGNIA Fund I

Comunidades que Renacen S.A.P.I. de C.V. (Provive), a Tijuana, Mexico-based business that acquires, refurbishes, and sells foreclosed homes in low-income housing developments, has received a MXN$44.0m (approximately US$3.3m) from Latin American investment fund IGNIA Fund I, LP.

The company intends to use the funding to expand in Baja California and to roll out nationally.

Founded in 2008 CEO Jose Antonio Díaz Martinez, Provive works with credit providers, developers, NGOs and local authorities to identify, acquire, refurbish, and bring houses back to market, improving infrastructure and public spaces, and the quality of life for people in low income sectors.



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