Alta Growth has reached a USD150m final close for AGC Fund III, a vehicle targeting investments in middle-market companies in Mexico and Latin America.
(Press Release) Alta Growth Capital (“Alta”) announced today that it has completed a final close of Alta Growth Capital, Mexico Fund III, L.P. (“AGC Fund III”) with $150 million in commitments. In spite of a very challenging fundraising environment in the region, AGC Fund III achieved the same level of commitments as its prior fund. The Fund was supported by a diverse group of Mexican and international limited partners with the majority of the capital coming from outside of Latin America. “At a time of tremendous economic and social uncertainty, 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 shown an ability to generate positive results over multiple fund cycles and varying economic conditions, and we look forward to deploying more capital at a time when we are seeing very interesting investment opportunities in our region.”
“Current events have reduced the availability of capital in Mexico and Latin America even more than before,” added Javier G. Teruel, Chairman of Alta Growth Capital. “With our team and strategy, we are well positioned to help fill this capital gap and achieve very good returns while, at the same time, have a positive impact by generating greater economic opportunity.”
Venable LLP acted as primary fund formation counsel for AGC Fund III. Ortiz, Sosa y Asociados, SC acted as Mexican tax counsel.
About Alta Growth Capital (www.agcmexico.com)
Alta Growth Capital, based in Mexico City, is one of the leading private equity funds investing in Latin America. With an investor base that includes U.S., Mexican and European institutions, Alta makes buyout and growth equity investments in small and medium-sized businesses that are poised to take advantage of the high growth opportunities in the Mexican and other Latin American markets. Financing for growth, whether equity or debt, can be difficult to obtain for companies in the Latin American lower middle market. Alta’s financing, along with its strategy to professionalize and institutionalize operations, provides opportunities for significant value creation in its portfolio companies.