IGNIA, Mexico’s first venture capital fund with a social focus

IGNIA, based in Mexico, is the first venture capital fund in Latin America with a social focus. The fund supports the founding and expansion of social companies with high growth potential that contribute to the socioeconomic base of the pyramid (BoP) in Latin America. In May, IGNIA completed its third round of capitalization, in which the Soros Economic Development Fund joined the Multilateral Investment Fund (IADB/MIF) and individuals from Europe and Latin America to attract more than USD40 million in funding. IGNIA is well positioned to achieve its funding goal of USD50-USD75 million through various capital closures scheduled for 2009.

In August 2009, IGNIA announced a USD3 million commitment to Pro-Orgánico, a leader in producing and marketing a wide variety of fresh organic vegetables which links small Mexican farmers with the growing North American market by monitoring operations and coordinating marketing efforts with retailers in the US, Canada and Mexico.

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