(Dow Jones) August 17, 2012 – Two years ago, vSpring Capital co-founder Paul Ahlstrom launched Alta Ventures Mexico to help kick-start the Mexican venture capital industry through a new fund. Now, Alta Ventures has $70 million to invest across a range of industries in Latin America.

The firm, which began fundraising in 2010, held a final closing on Alta Ventures Mexico I LP in June, Mr. Ahlstrom said. Limited partners include Silicon Valley investor 500 Startups, which seeks to co-invest in Latin America with Alta Ventures….