IDB Lab, the innovation laboratory of the Inter-American Development Bank, has signed an agreement with Fondo de Fondos México, a specialized investment firm that seeks to develop and invest in private equity funds, venture capital funds, energy, infrastructure and social and environmental impact in Mexico and Latin America.
IDB Lab and Fondo de Fondos México have a common objective of raising the industry's ethical and professional standards by sharing and promoting best practices regarding gender and diversity at the level of fund managers. The collaboration, inked in a memorandum of understanding, also includes exchanging business intelligence and experiences to contribute to the sector's development, joint participation in events and exchanging investment opportunities with high-impact fund managers.
"The signing of this memorandum is the natural evolution of our conversations with Fondo de Fondos México. We are delighted to join forces and work together to promote a more inclusive industry and share knowledge to strengthen investment funds and, in turn, generate greater impact," said Irene Arias, CEO of IDB Lab.
Carlos Caraveo, General Director of Fondo de Fondos México, highlighted the fundamental role that institutional investors play in developing the venture capital fund industry. "This alliance will allow us to more strongly promote basic diversity criteria among fund managers while increasing our access to potential new investments."
Ernesto Stein, the IDB Group's Country Representative in Mexico, added that "IDB Lab, our innovation laboratory, and Fondo de Fondos México have been key actors in the development of the entrepreneurship ecosystem in Mexico. This agreement strengthens their commitment to supporting the venture capital industry, including a focus on generating social and environmental impact along with financial returns, encouraging more and more funds and investors to adopt that vision and driving impact capital investment".
IDB Lab is one of the region's most active investors in early-stage entrepreneurial capital funds. Since 1996, it has invested in more than 100 venture capital funds and currently has an active portfolio of more than 50 funds that, in turn, have invested in more than 850 companies. Through financing, knowledge and connections, such as this alliance with Fondo de Fondos México, the IDB group's innovation laboratory seeks to generate systemic transformations to improve lives in Latin America and the Caribbean.
About IDB Lab
IDB Lab is the innovation laboratory of the IDB Group, the leading source of development finance and know-how for improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region by mobilizing financing, knowledge, and connections to test early-stage solutions with the potential to transform the lives of vulnerable populations affected by economic, social, and/or environmental factors. Since 1993 IDB Lab has approved more than US$ 2 billion in projects deployed across 26 LAC countries. www.idblab.org
About Fondo de Fondos México
Fondo de Fondos is a specialized investment firm. Since its establishment in 2006, it has promoted productive investment in Mexico and Latin America to promote the development and competitiveness of small and medium-sized companies and the energy and infrastructure sectors. Fondo de Fondos has implemented a strategic plan to develop and invest in private equity funds, entrepreneurial capital, energy, infrastructure, and social and environmental impact. Additionally, as an alternative asset manager, it manages third-party resources with the best international practices, creating unique databases in the industry and selecting teams of recognized experts with proven track records. www.fondodefondos.com.mx/en
Manzano Guillen, Maria De Gador
