14 years ago, Mexican VC was co-founded by Santiago Zavala to support Mexican startups and bridge the gap between Mexican entrepreneurs and Silicon Valley investors.
The fund raised $250,000 and invested in seven companies, with 500 Startups as one of the limited partners.
Fast forward 1 year…
This partnership led to Santiago and his team joining forces with 500 Startups to create a Spanish-speaking Latin American fund, 500 Latam, marking the beginning of 500 Global's international expansion.
When we (Mexican VC) were running low on funds, and considering raising a second round of investment, a conversation sparked the idea:
Why not join forces and create a fund focused on Spanish-speaking Latin America? We became the first team at 500 Startups outside the Bay Area to launch such a fund, Santiago Zavala (Managing Partner at 500 Global)
Following this blueprint, Today 500 Startups is now 500 Global with funds across North America, Europe, Asia, Latin America, Africa, and the Middle East.
Fund History & Investment Stage
500 LatAm
- Fund(s):$3.2m USD, Fund 2: $5.5m USD, Fund 3: $17m USD
- Notable Investments: 99 Minutos, Conekta, Justo, Konfio, Clip
- Stage: Pre Seed & Seed
- Check Size: 300k open to lead, co-lead, or follow-on.
Fund Investment Thesis
500 LatAm’s investment thesis centers around identifying and nurturing startups with high potential to create significant impact, particularly in emerging markets. Santiago highlights the importance of transparency and knowledge sharing within the 500 community.
As he puts it, “We believe in transparency and open communication. We actively share our knowledge and experiences to inspire others, or at least be a helpful resource.”
The investment thesis for 500 LatAm has evolved, driven by a focus on addressing specific market problems.
Santiago emphasizes that while they had initial hunches and a general thesis, their approach has continually adapted: "We did have a thesis. Of course, we learn through the years. This iterative process has led to targeted investments in fintech, healthtech, HR, and digital transformation, aligning with the broader trend of software permeating all aspects of life.
