ALL VP closes US$73M commitment for next fund

LatAm ListALL VP is a Mexico City-based early-stage VC fund founded by Federico Antoni and Fernando Lela de Larrea. They raised their first investment fund for US$6M when Mexico was not yet on the map as a hub for tech in Latin America.

As early investors in Chilean-Mexican delivery app, Cornershop, which was recently acquired by Walmart for US$225M, ALL VP has gained significant international attention as a regional force. The recent commitment for US$73M to their newest fund dwarfs the capital ALL VP currently has under management by a factor of two.

While Mexico’s economy has generally lagged over the past few years, tech is on the rise. 82 startups in Mexico have raised over US$154M just in Q1 and Q2 of 2018. As Latin America’s second largest economy, Mexico’s growing investment speaks to a trend of international investors diving into the Latin American market. Just in the past year, Softbank, Didi Chuxing, Naspers, and Walmart have made huge new investments in the region.

This trend is helping firms like ALL VP attract more capital as startups in the region heat up.

Read more in the original article for TechCrunch.

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