Angel Ventures
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Angel Ventures has been around for 15 years and invested $150 million across 9 countries - they're the real deal in Mexican VC, not some flash-in-the-pan fund. With a unicorn (likely Clip), 2 IPOs and 8 acquisitions in their portfolio, they actually know how to pick winners and get exits. What sets them apart is their obsession with introductions - 70% of portfolio asks are for connections, and they track hundreds of individual intros per quarter. The partners are MIT Sloan grads who've been working together for years and have serious corporate networks. They admit they've been "pioneers in Mexico in venture capital" which "certainly has come with a lot of pain" and "so many mistakes" - refreshingly honest about the learning curve. They announced their third fund (AV Latam Fund III) in 2022 and expanded to Austin, showing they're still growing and evolving.
- —Best for: Latin American startups needing serious corporate connections and proven exit track record
- —Watch out for: Seasoned players who've made mistakes - may be more cautious than newer funds
- —Known for: Obsessive networking and intro-making, 15 years of Mexico VC experience
The Firm invests in early-stage to early-growth companies by becoming a leading Series Seed and Series A investor in startups that drive innovative business models tailored for the Latin American market. They position themselves as the first professionally managed angel investor network in Latin America, seeking to "link great ideas with a capital".
They primarily invest in Seed and Series A stages with investments typically ranging $5-10 million. Portfolio covers information and communications technology, media, health, biotechnology, retail, consumer goods, agribusiness, e-commerce, internet of things, artificial intelligence, biotech, agri-tech, food tech, environment, and fintech sectors. Angel Ventures has made 43 investments in Seed stage with an average round size of $5.28M, 10 investments in Series A stage with an average round size of $5.44M
Hernán is a founder and managing partner at Angel Ventures, the leading Angel Investment Network in Mexico. Hernán started out as a lawyer but got fascinated by entrepreneurship, which resulted in him becoming one of the most influential investors in Latin America. Both he and Camilo Kejner hold MBAs from MIT Sloan ('07) and are known for their hands-on approach to portfolio companies.
Camilo moved from Miami to Mexico City about three years ago when he partnered with Hernan to raise AV's first fund. He had a high-profile corporate career before partnering with Hernan. Known for being deeply connected in the corporate world and leveraging executive networks for portfolio company introductions, though he jokingly admits Hernán "actually likes people" more than he does.
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