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Adobe Capital closes $30 million for Mexico’s impact entrepreneurs

ImpactAlpha, August 13 – Mexico City-based impact investor Adobe Capital has been filling the “missing middle” capital gap for Mexico’s growing cohort of impact entrepreneurs since 2012. Back then, it took nearly two years for Adobe to raise its first $15 million.

Flash forward seven years, the firm has made eight investments, notched two exits and has helped stock the Latin American impact investing pipeline via its accelerator arm, New Ventures. It has now closed its second investment fund at $30.3 million.

New Ventures is accelerating impact entrepreneurs in Mexico and Latin America (video)

Adobe made several observations about the change in investor interest since raising its first fund, too: one, all of capital for the second fund was committed by institutional investors; and two, Mexican investors make a bigger showing this time around, “representing a growing trend of mobilizing local capital towards impact investing,” the company said.

Adobe Mezzanine Fund II has backed three ventures so far: renewable energy company HEG, education-focused startups IPETH and (most recently) Kuepa. 

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