Adobe Capital, the venture capital arm of impact investing firm New Ventures, is out to prove that the path to growth, and competitive venture returns, in Mexico runs through social ventures.
Adobe has raised $21 million in the first close of its second fund aimed at filling the “missing middle” financing gap for small and mid-sized social ventures in Mexico and Latin America. The fund aims to raise a total of $40 million.
“We wanted to prove that this kind of mechanism in developing countries is a good strategy for investors,” Rodrigo Villar, the founder and managing director of New Ventures, told ImpactAlpha.
“The market is moving fast,” says Villar. “The are a lot of new accelerators. Universities are taking action. Some parts of the government are getting involved.” With Adobe’s second fund, New Ventures has its own proof point for the potential for impact investing in Mexico.
Read the full article by Dennis Price about social ventures on ImpactAlpha
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