- Cometa’s third fund, targeted at USD 100 million, will invest in early-stage technology companies in the target market.
- Cometa is Capria’s 7th local fund manager in Latin America; with 14 active investing partnerships globally.
- Capria invested in leading startups like Agrofy, Aprende Institute, Urbvan and Kueski through its Latin American investment manager partners.
February 15th, 2022 – Mexico: As record-breaking deals and unicorns make headlines in Latin America, the region has attracted the attention of Global investors to the thriving startup ecosystem and a market that is ripe for disruption. Capria Ventures, the global investing firm, has partnered with Mexico-based venture capital firm Cometa, a pioneer investing and supporting the next generation of technology entrepreneurs in the Spanish-speaking world. With this partnership, Capria adds the 7th fund manager from Latin America to its global network of 14 investing partners.
“We have known Cometa for a while and we are confident they will bring a rich investing experience to the Capria investment network. In the current market, so dynamic and full of attractive investment opportunities, the Cometa team understands the nuances of the market and knows who the best teams of local entrepreneurs are.
Capria and Cometa share the mission to help businesses scale their solutions, highlighting the innovation coming from Latam.
Cometa’s proven leadership and their track record of supporting founders reinforced our investment decision,” said Susana Garcia-Robles, Senior Partner, Capria Ventures. She added,
Capria has already invested in startups like Agrofy, Aprende Institute, Urbvan and Kueski in Latin America, and together with Cometa, Capria will continue to support other companies providing the cutting-edge solutions.”
Commenting on the partnership, Rafael de Haro, General Partner at Cometa said, “Capria brings together a trusted peer group of fund managers from the Global South, who invest in markets with similar opportunities and challenges to ours. We were attracted by this exchange of knowledge, ideas and experiences that we can leverage to build a strong and globally competitive portfolio.”
Founded in 2012, Mexico-based Cometa is an early-stage venture capital firm that invests in technology companies in Spanish-speaking markets, including Latin America, Spain, and the
US Hispanic market. The firm has partnered with the founders building the next generation of digital companies, including Bitso, Cabify, and Kueski.Cometa has invested in over 30 companies in its 10 year history.
Cometa III is the firm’s third fund, with a target fund size of US$ 100 M which it is closing this year. Rafael de Haro and José Luis Bolaños are the General Partners, with extensive entrepreneurial and corporate experience. Rafael, previously an attorney and investment banker, co-founded Lifedots, a New York-based software company, served as a Board Member of AMEXCAP (Mexican Private Equity and Venture Capital Association) and as the Chairman of the VC Committee. José also brings complementary experiences. Prior to Cometa, he was the CEO of Itaro México, an e-commerce autoparts company. He was also the Managing Director of the Mexican Chapter of Cognodata, a Spanish consultancy firm, and has advised several businesses in financial services, retail, consumer goods and oil & gas as a consultant at Bain & Co.
Resilience and returns
The fund is best known for investing in technology companies for the Spanish-speaking world. Interconnectivity and tech adoption has boomed in these markets since the firm started investing in 2012. Smartphone penetration has increased +4x in the past decade to reach 70%, and the pandemic has accelerated software adoption in the region.
Cometa’s portfolio includes 3 of the few Spanish unicorns and the most valuable fintech company in Mexico (Bitso, with a 2.2B USD valuation). Due to Cometa’s focus on software, most of its portfolio has thrived since the start of the pandemic, as both consumers and businesses have digitized. Six of Cometa’s portfolio companies in its prior fund-raised funding rounds of Series B and beyond during 2021 alone. Globally renowned investors who participated in these rounds include Coatue, Softbank, Tiger Global, Owl Ventures, Mubadala, and Stepstone Group. Today, over 60% of these portfolio companies are valued above $100M USD, and 2 of them have achieved unicorn status.
Capria’s commitment to invest and impact the lives of millions across the Global South includes southeast Asia, India, Latin America, and Africa.
Capria is a global venture capital firm with expertise investing in fintech, edtech, jobtech, logistics/mobility, agtech/food, and healthcare in the Global South. Capria invests in regional soonicorns — startups with enough revenues and growth rates to be unicorns soon and backs local and regional fund managers with capital and strategic support. Capria and its global network deliver profits with scaled impact aligned with United Nations’ Sustainable Development Goals. Capria has offices in Seattle, Bangalore, Nairobi, Santiago and Washington D.C. More about Capria >
Cometa is a Venture Capital firm investing in early-stage technology companies serving Spanish-speaking markets. Some of the companies in Cometa’s portfolio are Bitso, Cabify, Kueski, Gaia, WelcomeTech, Conekta, amongst others. More about Cometa >