Get the latest Venture Capital & Angel investors news and info Join Our Mailing List:

Your Name: 

Your Email:  

 
  • Soros Leads 3rd Closing for IGNIA, Bringing Fund I to US$40.7 Million

    May 11th, 2009 No comments

    GARZA GARCIA, Nuevo Leon, Mexico, May 11 IGNIA Fund I, L.P. Latin America’s first social venture capital fund, announced today it has reached a total of US$40.7 million in equity commitments by completing its third closing. The round was led with $5 million from Soros Economic Development Fund (SEDF), the global private foundation created by investor and philanthropist George Soros. Other investors include a Swiss institution and a Mexican individual investor group. With this close, IGNIA is on track to reach its equity target of $50 – $75 million and together with its $25 million in debt financing from the Inter-American Development Bank, IGNIA will have a combined total of $75 – $100 million to invest in innovative businesses that serve the Base of the Pyramid (BoP) in Latin America.

    “We are particularly pleased to have the support of Soros Economic Development Fund,” said Michael Chu, co-founder and Managing Director of IGNIA. “SEDF´s experience investing in effective solutions to social problems worldwide will bring tremendous value to IGNIA.”

    “The Soros Economic Development Fund is committed to fighting poverty by investing in funds like IGNIA that drive economic growth while serving the needs of low-income populations,” said Stewart J. Paperin, president of SEDF and executive vice president of the Open Society Institute. “SEDF’s support will benefit businesses and communities in Mexico and throughout Latin America.”

    Since 1997, SEDF has invested in over thirty financial institutions and supported entrepreneurs in nearly 50 countries as part of an effort to alleviate poverty and strengthen communities worldwide. SEDF will have an observer seat on IGNIA´s Investment Committee.

    “SEDF represents an ideal partner for IGNIA,” said Alvaro Rodriguez, co-founder and Managing Partner of IGNIA. “In addition to their capital commitment, SEDF will allow us to have a window on some of the most interesting developments in our field outside of our geographical region.”

    IGNIA Fund I, LP is a social venture capital fund that invests in high growth businesses that serve the base of the pyramid in Mexico and other regions of Latin America. More information is available at: www.ignia.com.mx

    Source: IGNIA

Leave a reply

Please leave these two fields as-is:

Protected by Invisible Defender. Showed 403 to 2,306 bad guys.

 

Latest Headlines:

Thursday September 02, 2010
Hub Angels and RRE Ventures Lead $1.9 Million in Series A Funding for Copiun


Tuesday August 31, 2010
VC Firm, Draper Triangle Ventures Invest $5 Million in Series B Funding for ClearCount Medical Solutions


Monday August 30, 2010
PrairieGold Venture Partners Joins Sanderling Venture Partners, vSpring Capital, and Mesa Verde Venture Partners to Add $5 Million to Complete a $10.8 Million Series A Funding Round for Lineagen


Thursday August 26, 2010
Investment Firms, Partech International, El Dorado Ventures, and Sisco Systems Lead $10 Million Investment in Series C Funding for Atlantis Computing


Tuesday August 24, 2010
Mirimar Venture Partners Leads $20 Million in Series C for Brand Affinity Technologies to Promote Celebrity Endorsement and Engagement Business


Monday August 23, 2010
Intersouth Partners Invests $3 Million in 6fusion as Company Relocates to North Carolina


Monday August 16, 2010
ITC Holdings and Kinetic Ventures Lead $18 Million Funding Round In Growth Capital for Cardlytics


Friday August 13, 2010
New Energy Capital Closes $100 Million in First Clean Tech Infrastructure Fund


 

Bad Behavior has blocked 240 access attempts in the last 7 days.