MIF invests $3 MN in Columbian Fondo de Capital Privado Inversor
Monday, May 23, 2011
The Multilateral Investment fund (MIF) is investing $3 million in the Fondo de Capital Privado Inversor, a venture capital (VC) fund investing in companies with scalable business models that cater to the Base of the Pyramid (BoP) population in Colombia.
The fund involves support from 10 founding institutions representing people from the social and financial sector, and four cooperating partners including professional services firms. This will help establish and attract resources to prove the thesis of impact investing through Venture Capital in Colombia, and the region at large.
The fund plans to raise $20 million, and has received support in its first close from a local investor base which includes the Colombian Government, an investment bank and foundations.