The venture capital fund Mountain Nazca, led by Jaime Zunzunegui and Héctor Sepúlveda, announced on Tuesday that, between the end of last year and so far this 2020, he confirmed his departure from two of the first startups that formed part of his portfolio: Kavak and Creze.
According to the venture capital firm, its recent divestment of These two companies allowed it to jointly distribute to its investors around 1,200 million pesos (mp)., keeping its first fund, even its participation in companies such as Luuna, Urbvan and Miroculus.
The first exit that Mountain Nazca made was that of Creze, a financial technology company founded by Diego Creel focused on making loans to small and medium-sized enterprises (SMEs) with the support of data models, this would then sell its participation to the financial group Polygon in last december.
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Later, at the beginning of this April, the venture capital fund completed the second, after selling a presence in the startup Kavak, a company specialized in the purchase and sale of used cars through its digital platform, to the Japanese bank Softbank and the investment firm General Atlantic.
“Beyond a successful investment, which went from PowerPoint to the largest Series B in Mexico and probably in Spanish-speaking Latin America, it brought me a close friendship (with the companies,” said Jaime Zunzunegui, managing partner of Mountain Nazca.
For his part, Héctor Sepulveda, founder of the Mexican fund, highlighted the leadership capacity that the creators of Kavak had from the beginning, who, he assured, will serve as inspiration for new entrepreneurs.
“Lori, Carlos and Roger are a very clear example of the new generation of leaders in Mexico and Latin America. Their achievements serve and will continue to inspire them and all of us who were part of this adventure. The results are incredible ”, he commented.
The fund specified that, after these operations, it will remain active in the Mexican entrepreneurial ecosystem by supporting all the companies that are part of them, as are companies like Albo, Jüsto, Truehome and Ben & Frank.
“Mountain Nazca believes that Latin America presents an unbeatable opportunity to transform the region’s large industries under the leadership of the best teams in the region ”, they warned.
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