Net Investors Discover A New Continent: Latin America
Last September, Juan Carlos Garcia was getting anxious. The $300,000 he and his partners had raised from family and friends to launch decompras.com, a Mexican e-store that sells everything from perfume to Palm Pilots, had run out. So Garcia, a 31-year-old Wharton School graduate from Monterrey, rang up a former boss who had started a small venture capital fund in Mexico City. He soon got the answer he wanted: $1 million in seed money in exchange for a 30% stake in decompras. com. Now, the fund, Ventura Capital Privado, is arranging a $5 million to $7 million financing for the startup. "I no longer have to knock on doors," says a relieved Garcia.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.