Author:
Christina Kappaz
Millennia Consulting, LLC and Luce Forward Hamilton & Scripps, LLP
Mexico City, Mexico
Article:
Review and Action Plan for Development of the
Venture Capital Industry
in Mexico
Prepared for Nacional Financiera, SNC
May 2004
By:
Christina Kappaz
John B. McNeece III
Venture capital (VC) has proven an effective means of fostering growth of small businesses in industrialized countries but is still a nascent industry in Mexico. In 2002, the Partnership for Prosperity Agreement signed between Mexico and the United States established a mandate for development of the venture capital industry in Mexico. In order to implement that mandate, a Mexico–U.S. Task Force on Venture Capital was established, and a team of consultants was engaged to provide technical assistance to the Task Force, and to undertake this study. The objectives of the study were to identify the key issues affecting development of the industry and to develop an action plan for reforms needed to move the industry forward.
A. List of Participants at Task Force Meetings
B. Consolidated Issues Paper on Development of Venture Capital in Mexico – Authored by Millennia Consulting, LLC and Luce Forward Hamilton & Scripps, LLP
C. Recommendations for Venture Capital Fiscal Regime in Mexico (translated from original Spanish text) – Authored by Ortiz, Sosa, Ysusi y Cía, S.C. and Eduardo Mapes of Nacional Financiera
D. Recommendations on Creation of a Secondary Market in Mexico (translated from original Spanish text) – Authored by Mijares Angoitia Cortes y Fuentes, S.C.
E. Recommendations on Building a Venture Capital Culture in Mexico – Authored by Richard Smith (Peter F. Drucker Graduate School of Management, Claremont Graduate University) and Fernando Fabre (Universidad Anahuac del Sur)
F. Cross-Country Comparative Review of Legal and Regulatory Frameworks – Authored by Morrison & Foerster LLP
G. Review of International Best Practices in Building a Culture of Entrepreneurship and Venture Capital – Authored by Millennia Consulting, LLC
H. Memorandum on Fiscal Transparency and U.S. Tax Regime for Partnerships – Authored by Luce, Forward, Hamilton & Scripps, LLP
I. Draft Law for the Promotion of Venture Capital in Mexico (Spanish) – Authored by Creel, García-Cuéllar y Müggenburg, S.C.
J. Consolidated List of Key Recommendations
K. List of Contractors and Subcontractors with Contact Information
L. U.S. Sources of Supply