Amerigo Ventures Pacífico (AVP) launched in 2013 as private equity fund dedicated to the development of innovative digital economy companies from seed to growth stage in Colombia, with high profile investors like Telefónica, Bancoldex, Skandia, Fonprode, CAF, Brightstar and other private investors. It has made four high profile investments and an outstanding exit in just 12 months.
Alfonso de Leon, Managing Partner of Axon Partners Group’s investment division comments: “These countries have a lot of synergies with Colombia, where we have a local office and in-depth investment experience. Mexico and Peru offer big opportunities for investment in the areas that we specialise. There is excellent software development and English speaking skills, which perfectly fits with our focus: digital economy companies that are looking for growth and international expansion.”
The decision to expand the fund to Mexico and Peru will enable broader expansion strategies for its investments with tickets ranging from some hundred thousand dollars to over USD 15m.
Axon Partners Group has been investing in companies in LatAm since 2007. Its investment team has worked together for more than five years and has experience investing in companies from seed to IPOs. It has lead transactions with a cumulative value of USD 36bn and exits with IRRs of >100%. Axon has an excellent track record in growth capital and manages several hundred million dollars worldwide. Previous investments include global brands like iYogi and Just Eat, and Axon has previously partnered with Draper Fisher Jurvetson (DFJ) and Sequoia Capital.
Alfonso continues “We are one of few Venture Capital players in LatAm with local offices worldwide and a track record that provides huge opportunities for companies that partner with us. This enables us to develop a high quality pipeline of investments and attract very promising startups and growth companies.”
Interest in Mexico and Peru has increased in recent years due to the established economy and demand growth in LatAm in general and also through the development of the Pacific Alliance.
Francisco Velázquez, President of Axon, concludes: “There is huge support for innovation in LatAm. Our fund has had great success in Colombia so we are delighted to expand our focus to such exciting regions. Digital economy is not just ICT; it includes anything that delivers physical or digital goods, using digital networks, which means that all economic sectors fall within the scope of digital economy. This provides us with a huge scope of strong opportunities to target.”