IGNIA Fund Launches Shared Services Company to Bring Portfolio to Scale

Monday, November 10, 2008

“IGNIA Shared Services Company is a novel concept for an emerging markets venture fund, a dedicated in-house company that will fully focus on streamlining administrative operations and developing systems and procedures that will serve as administrative platforms for portfolio companies to achieve scale,” said Fabrice Serfati, CEO of IGNIA Shared Services. “This will allow the entrepreneur and leadership team to focus on doing what they do best: building the core business.”

Original source: PR Newswire

“A critical bottleneck in the scaling up of any new enterprise is the establishment and implementation of an effective, efficient and institutionalized administrative platform that can sustain dramatic growth,” said Michael Chu, IGNIA co-founder and managing director. “IGNIA is responding to this need by launching ISS.”
An example of this crucial need for back-office support is demonstrated in the business model of IGNIA’s first investment, Primedic, a leading provider of healthcare services in Monterrey, Mexico. After completing its pilot phase, the equity investment will be used to triple the number of medical clinics and quadruple the number of customers (patients) served.

Dr. Paulino Decanini, founder and Chief Medical Officer of Primedic, said, “We chose IGNIA Fund as an investor because in addition to management expertise, deep knowledge of the BoP, and access to powerful networks, IGNIA Shared Services will develop the foundation to provide ongoing operational support which will be the administrative basis for sustained growth, which other funds do not offer.”

ISS will manage all transactional functions of its clients including Treasury, Accounting, Payroll Processing, and Taxes. High demand for these services among small and growing businesses in IGNIA’s pipeline has proven that it is a pain point for entrepreneurs. ISS may potentially expand its services to serve external demand.

“IGNIA Shared Services Company is a novel concept for an emerging markets venture fund, a dedicated in-house company that will fully focus on streamlining administrative operations and developing systems and procedures that will serve as administrative platforms for portfolio companies to achieve scale,” said Fabrice Serfati, CEO of IGNIA Shared Services. “This will allow the entrepreneur and leadership team to focus on doing what they do best: building the core business.”

Source: PR Newswire (via BreitBart.com) (link opens in a new window)