Alta Ventures Mexico has held the final close of its first venture fund, at $70m.
Investors include International Finance Corporation (IFC), Fondo de Fondos (CMIC) and the Multilateral Investment Fund (MIF), Silicon Valley accelerator 500 Startups, the Guadalajara Angel Investment Network (GAIN) and 30 family offices.
Alta Ventures is a technology-focused venture fund targeting Mexican companies with innovations in high growth sectors such as SaaS, mobile, big data, healthcare, clean tech, consumer, non-banking financing and education. It has invested in 7 companies and exite Rhomobile, which sold to Motorola in July 2011.
Other portfolio companies include:
– Diverza, an e-invoicing provider in Mexico;
– Energryn Corp., a renewable-energy technology developer;
– Juxta Labs, a social gaming development shop;
– Convert.com, a web conversion optimizer;
– MFM, a financial boutique providing short-term loans to importing/exporting companies; and
– Tactivos, an online collaboration platform.
Founded in 2010 by Rogelio De los Santos, Alta Ventures is based in Monterrey, Mexico with satellite offices in Mexico City and Utah.