Tuesday, August 21, 2012

Alta Ventures Raises $70M For Mexican Investments

Alta Ventures Mexico, the Mexican venture capital firm co-founded by Salt Lake investor Paul Ahlstrom, has announced that it has raised $70M for its first venture fund. Alta Ventures said investors in the fund included International Finance Corporation (IFC), Fondo de Fondos (CMIC) and the Multilateral Investment Fund (MIF), with the majority of Alta's capital coming from 29 family offices based in Monterrey, Mexico. 500 Startups, the Guadalajara Angel Investment Network (GAIN) and two US family offices also participated in the new venture fund. Ahlstrom was one of the founders of Salt Lake's vSpring Capital. Alta Ventures is based in Monterrey, Mexico, but also maintains an office in Utah.