ALLVP
ALLVP (also called Antoni Lelo de Larrea Venture Partners) is the first institutional fund in Mexico for early-stage venture capital. Founded in 2012 by Federico Antoni and Fernando Lelo de Larrea, the company is headquartered in Mexico City:[1].
In partnership with Venture Institute, a Mexican seed accelerator, ALLVP was created with the goal to invest in entrepreneurs in the Spanish-speaking Latin American world.
Its first fund (2012) invested in twelve companies including Carrot, Mexico’s first car-sharing company, Medica Santa Carmen, a hemodialysis clinic network, and Prestadero, a peer-to-peer lending platform. ALLVP’s second fund, Venture Innovation Fund II (VIF II), which focuses on series-A investing in traditionally underserved spaces was created in 2014. They have since launched a third (ALLVP III) and have to-date raised over $120 million of capital.
ALLVP is a member of the Latin-American Venture Capital Association (LAVCA), the Mexican Private Equity Association (AMEXCAP) and the Endeavor Investor Network.
History
ALLVP founders Federico Antoni and Fernando Lelo de Larrea first met as classmates at the Stanford Graduate School of Business, where they both earned MBA degrees and quickly became friends. This friendship blossomed into a decade-long collaboration in professorship, mentorship and entrepreneurship. Both Federico and Fernando gained significant executive experience and learned to complement each other in the workspace[2].
In 2010, Federico and Fernando launched Venture Institute, which was one of the first seed accelerators with the intention of developing a strong entrepreneurial ecosystem in Mexico. A year later, in 2011, they co-founded Fondeadora, which grew to become Latin America’s largest crowdfunding platform. In late 2016, Fondeadora’s crowdfunding business was acquired by Kickstarter to become a challenger bank. ALLVP is the acronym of Antoni Lelo de Larrea Venture Partners.”[3]
In 2020, Antonia Rojas Eing, the youngest female partner of Latin America’s major VCs, joined ALLVP as a partner[4].
Across three funds, the company has steadily grown its fund sizes: Fund one, SIT I (2012): $6M vehicle for 12 companies ; Fund two, VIF II (2015): $36M vehicle for 15 companies ; Fund three, ALLVP III (2018): US $85M vehicle for currently 11 companies.
Investments
The companies that ALLVP typically invests in are market disruptors in large, over-regulated markets with a certain degree of operational complexity and powerful existing players. One of their aims is to create more equitable opportunities for the emerging middle class in Latin America[5].
Primary Sectors[6]
- Fintech
- Future of Commerce
- Smart Cities
- Human Capital (includes: EdTech, HealthTech and Human Resources)
Portfolio
ALLVP currently manages three funds:
- Seed Innovation Trust I (SIT I)
- Venture Innovation Fund II (VIF II)
- ALLVP III (ALLVP III)
| Fund | Name | Investment Date | Status |
|---|---|---|---|
| SIT I | Aventones (now part of BlaBlaCar) | November 2012 | Exited |
| SIT I | Prestadero | 2013 | Active |
| SIT I | Salud Fácil | May 2013 | Active |
| SIT I, VIF II | Medica Santa Carmen (MSC) | 2013, June 2016 | Active |
| VIF II | Nubity | November 2014 | Active |
| VIF II | Apli | June 2015 | Active |
| VIF II | Cornershop | July 2015 | Exited |
| VIF II | Enlight | August 2015 | Active |
| VIF II | Visor | November 2015 | Active |
| VIF II | Dentalia | September 2016 | Active |
| VIF II | e3 | December 2017 | Active |
| VIF II | Social Diabetes | March 2018 | Active |
| VIF II | Cumplo | March 2018 | Active |
| ALLVP III | Slang | January 2019 | Active |
| ALLVP III | Fintual | February 2019 | Active |
| ALLVP III | Flat | July 2019 | Active |
| ALLVP III | RobinFood | July 2019 | Active |
| ALLVP III | Nuvocargo | April 2020 | Active |
| ALLVP III | Billeto | July 2020 | Active |
| ALLVP III | Mibo | August 2020 | Active |
| ALLVP III | Flink | November 2020 | Active |
| ALLVP III | Súper | December 2020 | Active |
| ALLVP III | Wonderbrand | January 2021 | Active |
| ALLVP III | Kocomo | May 2021 | Active |
| ALLVP III | Yana | June 2021 | Active |
People
ALLVP currently has three partners[7]
Managing Partner Federico Antoni is a two-time former founder with nearly 20 years of experience in strategy, marketing and operations.
Managing Partner Fernando Lelo de Larrea co-founded two companies with Federico and has acquired extensive experience in the operational and financial aspects of private equity, project finance, and scaling businesses.
Partner Antonia Rojas who joined ALLVP in 2020 has previous experience as an investor and entrepreneur, with strategic and business development experience in Latin America.
ALLVP’s company values include empathy, boldness, and discipline.
References
- ↑ "ALLVP Team". ALLVP. Archived from the original on 2021-08-18. Retrieved 2021-08-18.
- ↑ "ALLVP TEAM". ALLVP. Retrieved 2021-08-18.[permanent dead link]
- ↑ "ALLVP TEAM". ALLVP. Retrieved 2021-08-18.[permanent dead link]
- ↑ Escher, Anna (6 January 2020). "Antonia Rojas Eing joins ALLVP as the youngest female VC partner in Latin America". TechCrunch. Retrieved 18 October 2021.
- ↑ "ALLVP: Pioneering Seed Capital in Mexico". Harvard Business Publishing. Retrieved 2021-08-18.
- ↑ "ALLVP ACVC". ACVC. ACVC. Archived from the original on 18 October 2021. Retrieved 18 October 2021.
- ↑ "ALLVP About". ALLVP Team. Archived from the original on 2021-08-18. Retrieved 2021-08-18.
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