500 Mexico II (IFC-38263)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 6, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
500 LUCHADORES II LP
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 29, 2018

Disclosed by Bank Apr 22, 2016


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Project Description

From IFC:

500 Luchadores II, L.P. is a Mexico City based accelerator that is raising $10 million to support 120 early stage companies from across Latin America, primarily in the ICT sector. The Fund is sponsored by 500 Startups Management Company, L.L.C., a global early stage venture firm and accelerator founded in 2010 by Dave McClure and Christine Tsai.

The project intends to address funding gaps for seed stage investments by supporting approximately 120 early stage companies. The fund manager expects the Fund's graduated companies to create 600+ new jobs and support local entrepreneurship through the Fund's acceleration cycles and various internal and external events. The Fund intends to mentor 600+ founders/entrepreneurs during the first 2-3 years.

Investment Description
  • International Finance Corporation (IFC)

The proposed IFC equity commitment is US$2 million, not to exceed 20% of total commitments. 500 Luchadores II is targeting total commitments of $10 million.

Private Actors

500 Luchadores II, L.P. is a Mexico City based accelerator that is raising $10 million to support 120 early stage companies from across Latin America, primarily in the ICT sector.

The Fund is sponsored by 500 Startups Management Company, L.L.C., a global early stage venture firm and accelerator founded in 2010 by Dave McClure and Christine Tsai.

Contact Information

Santiago Zavala
500 Startups Management Company, L.L.C.
444 Castro Street, Suite 1200
Mountain View, CA 94041
mailto:santiago@500startups.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/