Alliance with Mercurius Ventures to invest in Colombian SMEs

The Andean Development Corporation (CAF) and the risk capital management firm Mercurius Ventures signed an agreement to invest up to $1 million from the Business Investment and Development Fund (FIDE), set up and managed by the CAF.

"One of the Corporation´s basic premises is that support for small and medium-sized enterprises (SMEs) is indispensable for achieving the reactivation and growth of the region´s productive sector," said CAF President Enrique García on signing the agreement.

Mercurius Ventures manages a closed-end fund for risk capital, which began in 1999 in Medellín (Colombia) with a capital of about $3 million. The starting point for its creation was the initiative of five of the Colombian Technology-Based Incubators (Antioquia, Bogotá, Bucaramanga, Caribe and Cali).

The Fund invests in technology-based companies which have a great impact at social and productive levels, concentrating on expanding markets and on companies with a high content of innovation.

The first joint operation will be the acquisition of part of Mercurius Ventures investment in two companies: Multimedia Privada Corporativa (MPC) and V- Factory. In the future, FIDE will consider investing in companies in which Mercurius invests.