(IGNIA) November 22, 2011– IGNIA Fund I, LP, the first and largest impact investing fund in Latin America, announced that Leon Kraig will join IGNIA as General Partner and Managing Director. Kraig leaves behind a career of 25 years at Mars, a US$30 billion private company, where he started as R&D Manager and transitioned to become Regional President for Petcare for Latin America. During his tenure at Mars, Kraig distinguished himself due to his ability to develop extraordinary talent, world class operations, and strong brands to create large profitable businesses.
“In the wake of my departure from Mars, I set out to join a talented team, with an inspiring mission, a clear agenda of innovation and transformation, and the willingness to push boundaries in order to realize its full potential” said Kraig. “IGNIA’s team meets this criteria and I am very excited to begin working with them to build a more equitable world” he added.
IGNIA’s mission is to build a more equitable life for families at the base of the socio-economic pyramid by providing financial and strategic support to high impact social enterprises. By supporting entrepreneurs to reach superior social and financial returns, IGNIA seeks to create industries that drive scale, sustainability, continuous efficacy and efficiency.
To date, IGNIA Fund I has invested in ten companies spanning the sectors of health, telecommunications, housing, agriculture, and basic services (water). “As our portfolio matures, we believe that adding value will increasingly revolve around providing active management and strategic support. Leon’s strong operational expertise, strategic know-how, and leadership experience will be a strong asset for IGNIA going forward” stated Alvaro Arregui, IGNIA’s co-founder and Managing Partner. “We are very fortunate and extremely excited to welcome Leon as our Partner.”
IGNIA Fund I, LP is an impact investing venture capital fund that invests in high growth businesses that serve the base of the pyramid in Mexico and other regions of Latin America. By providing effective responses to the enormously underserved needs of the low income population, IGNIA empowers entrepreneurship and generates social impact while creating attractive financial returns for its investors. For additional information, visit www.ignia.com.mx.