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Since 2010, private equity fundraising targeting
investments into Mexico has been inconsistent in terms of the number of funds
closed and aggregate capital raised year on year. The peak fundraising year for
total capital gathered in the period analysed was 2010, in which six
Mexico-focused funds raised $935.87 million from investors. However, in 2012 the
highest number of funds targeting investments into the country closed. In this
year, ten funds raised $753.8 million.
In H1 2015, no funds investing exclusively into Mexico
reached final close. Similarly, in 2014 just one fund closed over the course of
the year. Alta Growth Capital Mexico Fund II, a growth equity vehicle managed
by Alta Growth Capital, raised $142 million to invest into the country. The
largest Mexico-focused fund closed between 2010 and H1 2015 was Nexxus Capital
VI managed by Nexxus Capital. The growth equity vehicle closed in November
2013, having collected $550 million from investors.
There has been a significant decrease in foreign interest in
Latin American fundraising opportunities since 2014, yet Mexico’s improving
regulatory environment and expanding economy make it a fertile market for
future investment. As at 1 July 2015, there are eight Mexico-focused vehicles
on the road targeting a total of $1.74 billion. The largest of these funds is AGC Controladora’s Northgate
Mexico with a target size of $823.25 million. If the growth equity fund hits
its target, it will be the largest fund focused on the country to close since
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