(Press Release) Alta Growth Capital (“Alta”) announced today that it has completed a final close of Alta Growth Capital, Mexico Fund II, L.P. (“AGC Fund II”) with $142 million in commitments. AGC Fund II is nearly double the size of Alta’s debut fund which closed in 2009. All of the institutional investors from Fund I committed to AGC Fund II along with several new limited partners. Altogether, Fund II was supported by a diverse group of Mexican and international LP’s.
“We’re grateful for the support of our returning limited partners and for the trust placed in us by our new investors,” said Scott McDonough, Managing Director. “We’ve developed an interesting niche within the private equity industry that certainly helped us in our fundraising process.”
“Mexico is undergoing a series of important structural changes that should provide great opportunities for investors like ourselves,” added Javier G. Teruel, Chairman of Alta Growth Capital. “The experience of our team and our growth equity strategy uniquely position us to take advantage of these opportunities.”
Baker & McKenzie LLP acted as primary fund formation counsel for AGC Fund II. Ortiz, Sosa, Ysusi, y Cía, S.C., now part of KPMG, acted as Mexican tax counsel.
About Alta Growth Capital
Alta Growth Capital, based in Mexico City, is one of the leading private equity funds focused on Mexico. With an investor base that includes U.S., Mexican and European institutions, Alta provides growth equity to small and medium-sized businesses that are poised to take advantage of the high growth opportunities in the Mexican market. Financing for growth, whether equity or debt, can be difficult to obtain for companies in the lower middle market in Mexico. Alta’s financing, along with its strategy to professionalize and institutionalize operations, provides opportunities for significant value creation in its portfolio companies.