Over 20 MIF-Backed Fund Managers Gather in Buenos Aires to Share Experiences, Best Practices at 2005 Annual MIF Venture Capital Network Managers Meeting
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Buenos Aires, Argentina, October 21, 2005 – Representatives of more than 20 fund managers actively investing in venture capital in Latin America and the Caribbean gathered today in Buenos Aires for the capstone meeting of a three-day event series facilitated by the Latin American Venture Capital Association (LAVCA) in collaboration with the Multilateral Investment Fund (MIF) and the Buenos Aires-based Center for Research on Management, Entrepreneurship and Investment (CIMeI – UCEMA).
LAVCA, as the lead institution coordinating the MIF Venture Capital Network—a network comprised of fund managers with MIF backing—presented the network’s 2005 Managers’ Meeting as well as a two-day training course on corporate governance, for which UCEMA provided professional content and instruction. The event series also featured UCEMA’s 2nd Annual Private Equity and Venture Capital Forum.
The 2005 MIF Venture Capital Network Managers Meeting provided a unique opportunity for cross-fertilization of ideas, best practices, and lessons learned among fund managers in the region. The event marked the first formal meeting for the MIF-backed fund managers as members of the network.
“It was a very important meeting, and showed the commitment of the fund managers in our network to furthering the VC industry’s development in the region,” said Susana Garcia-Robles, MIF Investment Officer. Ms. Garcia-Robles provided opening and closing remarks and moderated the panel Deal Structures, Exits and Workouts.
The October 21st meeting attracted over 40 participants including key principals with the network’s fund managers, senior MIF officers, and representatives of MIF partners such as the Venezuelan-based Corporación Andina de Fomento (CAF), Brazil’s Financiadora de Estudos e Projetos (FINEP) and Peru’s ProCapitales. Fund managers in attendance represented Mexico, Jamaica, Nicaragua, Costa Rica, Chile, Brazil, Bolivia, Uruguay, Argentina, the United States and Spain.
“Our partners attending the meeting told me how impressed they were with the quality of our fund managers,” said Ms. Garcia-Robles. “The atmosphere of camaraderie was also notable, the Brazilians learning from the Central Americans and Chileans, etc. This was a group of very experienced, articulate and motivated professionals who got to know each other on a personal level as well.”
Additional panels included Best Practices on Implementing Social and Environmental Policies, moderated by MIF Investment Officer Valentina Sequi, and Promising Sectors: Where are the High-Return Deals?, moderated by LAVCA Executive Director Howard Wallack.
Said Mr. Wallack, “The meetings in Buenos Aires highlighted that the fund managers participating in the MIF Venture Capital Network are interested in more than just investing. They are equally committed to bringing their substantial expertise in finance, law, management, strategic planning, and good corporate governance to their portfolio companies, helping them achieve and sustain high growth.”
The MIF Venture Capital Network was established in 2004 as one of five networks launched through the MIF Partners in Innovation Program.
About the Partners in Innovation Program:
Over the past decade the Multilateral Investment Fund (MIF) has partnered with over 400 organizations in the design and execution of more than 600 projects. This activity has generated a wealth of knowledge and experience as well as critical lessons that can inform new and innovative areas for policy-making and technical assistance and outline emerging best practices.
The Partners in Innovation Program mines this knowledge and experience by enlisting MIF partner institutions as “innovation leaders” in networks that add to the stock of practical knowledge needed for enhanced private sector decision-making and capacity in Latin America and the Caribbean. Five networks were established in 2004, including the MIF Venture Capital Network. The Latin American Venture Capital Association (LAVCA) was selected to administer this network as lead institution. For more information on the Partners in Innovation Program, please visit www.iadb.org/mif/v2/networks.html.
LAVCA’s mission is to promote the growth of the venture capital and private equity industry in Latin America through research, education, networking, best practices, and the advocacy of sound public policy. LAVCA is a not-for-profit trade association serving a core membership of venture capital and private equity firms that invest in emerging companies.
For more information on LAVCA and its activities, please visit www.lavca.org. For inquiries regarding LAVCA and the MIF Venture Capital Network, please contact:
Latin American Venture Capital Association