Mexico’s Bank Starts Fund for U.S. Latino Investors
The Mexican government’s development bank, Nacional Financiera (Nafin), said Sunday that it had established a special fund for businesses run by U.S. Latinos interested in investing south of the border.
Nafin said the fund, described as a “bi-national risk capital investment fund,” will have between $20 million and $25 million provided by public and private investors from the United States and Mexico. The U.S. Small Business Administration is taking part in the fund, it said.
“Nacional Financiera will strengthen its relationship with the U.S. Hispanic market with the aim of bettering business ties and facilitating co-investment projects that contribute to creating jobs in Mexico,” the banks said in a prepared statement.
Nafin said the U.S. Latino community represented an “enormous growth potential” for Mexico.
According to the U.S. Census Bureau, there are almost 32 million people of Latino origin in the United States.
Nafin noted that about two-thirds of U.S. Latinos are of Mexican origin.
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