- With Kiwii, Beamonte Investments opens its first operation as a company builder in Latin America
Beamonte Investments together with its affiliates, “Beamonte”, a leading private investment firm in Boston, announced that it has invested in Kiwii Capital SAPI, a Mexico City start-up dedicated to providing factoring to SMEs. Kiwii was launched in late 2013 by the Mexico team of Beamonte Investments, but just recently finalized funding.
With Kiwii, Beamonte Investments opens its first operation as a company builder in Latin America. The format turns the typical startup formula on its head by identifying robust business models, selecting them as projects, and then getting the best entrepreneurs to partner with to implement them. Beamonte Investments offered the seed capital as well its global network to ensure proper financing. Beamonte has significant experience managing non-banking financial institutions in Mexico, having managed approximately 150 million US dollars in credit assets in the country.
Kiwii Capital is run by Salvador Gaytan, a veteran of commercial banking. “I’m thrilled to be part of this project with Beamonte Investments because the product that we offer helps SMEs to manage their cash flow to grow to the next level. In Kiwii we work with companies with Annual Sales between MXP 15 million to 70 million that provide products or services to large corporations.”
Kiwii Capital is specifically designed to serve small and middle market family-owned operating enterprises in Mexico. Kiwii offers Factoring with terms of 30, 60 and 90 days, helping small businesses to stabilize their cash flow. In factoring, the underlying assets are the seller’s accounts receivable, which are purchased by the factor at a discount. The remaining balance is paid to the seller when the receivables are paid to the factor, less interest. Kiwii will be raising USD 15M in the next 12 to 18 months .
Luis Felipe Trevino, Managing Director of Beamonte and Chairman of the Board at Kiwii Capital commented, “We are exited to build a company from the ground up. As with any other in our portfolio, Kiwii is going to receive our support, advice, network and expertise, but our team members will help Salvador to run the day to day operations. Over time, we will attract talent to grow the company to the next level.”
Beamonte Investments seeks to create long-term value for its investors, the portfolio companies and the companies it advises. Beamonte Investments provides various financial advisory services, including investment banking advisory, financial and strategic advisory and fund placement services. Beamonte alternative businesses include the management of private equity funds, real estate funds and credit-oriented strategies.