Ignacio (Nacho) Ponce

EBITDA Y Cash Flow

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In this episode of "Real Angle" about setting up a first fund, Diego Hurtado, MBA, MSc, Principal at Navio Consulting (https://lnkd.in/e5VTUVZF), discusses fund management and raising funds for small to medium-sized developers. Navio Consulting helps these developers build and set up real estate investment funds, and then assists in managing them. The typical fund structure involves adhering to Regulation D, Rule 506(c), which allows for the marketing of the offering to accredited investors. Diego emphasizes the importance of trust and relationships in the fundraising process, and the need for professionalization in the industry.

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🎓 Proud Graduate of the Executive CFO Program at Columbia Business School Thrilled to announce the successful completion of the Executive CFO Program at Columbia Business School crafted for financial professionals in Latin America. A transformative journey that has enriched my expertise and leadership in financial management. This program equipped me with cutting-edge knowledge, strategic insights, and practical tools essential for navigating the complexities of modern corporate finance. #ColumbiaBusinessSchool #ExecutiveCFO #FinancialLeadership #FinanceInnovation #StrategicVision #ContinuousLearning

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Working Capital, conectando empresas e inversores. #WorkingCapital 💼 #CorporateFinance #Boutique #BancaDeInversión #Galicia #AsesoramientoFinanciero  #M&A #VentaDeEmpresas #CompraDeEmpresas #AsesoramientoEnTransacciones  #FinanciaciónCorporativa #MercadosDeCapitales #CapitalPrivado #FinanciaciónAlternativa https://lnkd.in/dEiw4bdD

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In a very tough fundraising market, Peruvian Veef has demonstrated a successful formula for raising money in Peru 🇵🇪. Here are some of its keys 🔑 to success 🌟: **Complementary founding team** 👩🏻‍💻👩🏻‍💻 Founders Karina Zegarra and Linda Obregon successfully team up to balance the day-to-day demands of production, marketing, and capital raising. They combine relevant know-how, persistence, and global thinking. Karina is a stand-out graduate of Universidad Tecnológica del Perú and surely a role model for its current students. **Bootstrap to product-market-fit** 🥾 Peruvian Veef developed a product, achieved initial sales and is now on the shelves at modern retail chains in Peru. This demonstrated execution ability and low-cost mindset, gave confidence to the investors that have decided to back them. **Leverage government funds** 💰 ProInnóvate is a great source of grant money for startups to get operating and marketing costs. These funds can help startups get on the radar of accelerator programs, angel investors, and venture capital funds. **Find sector-specific global investors** 🎯🌎 While capital may be scarce from industry-agnostic investors in Latin America, many global investors have very specific theses that may apply to your startup. In the case of Peruvian Veef, the team did a fantastic job of finding and securing capital from, Ahimsa Foundation and Sustainable Food Ventures - two investors that will certainly add value to the startup. With the lack of available capital in Peru, Karina and Linda have given a viable fundraising path that other founders can follow 🚀🌔

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Fitch Ratings has upgraded ABANCA's long-term issuer rating outlook from stable to positive, while affirming its ratings. Following this decision, the bank's credit rating remains at investment grade 'BBB-', now with a positive outlook. In its decision, Fitch highlights ABANCA's structurally improved profitability and asset quality as key determinants. Moreover, the bank's capitalization, funding structure and liquidity position received favorable evaluations. Additionally, Fitch positively assessed the effective integration of entities acquired in recent years. This adjustment from Fitch complements the similar upgrade made by Standard and Poor's in April of this year, which also placed ABANCA's long-term issuer rating outlook to positive. Since April 2022, ABANCA has maintained an investment grade status across all four rating agencies: Standard and Poor's, Moody's, Fitch, and DBRS. For more details visit: https://lnkd.in/eyMVbupN

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Evolving Standards: The Future of B Corp Certification in 2024 Exciting times ahead for businesses committed to balancing profit with purpose. The B Corp Certification is set to undergo significant updates in 2024, emphasizing climate action, fair wages, human rights, and continuous improvement. For companies in the cold chain packaging sector in Mexico, these new standards present a unique opportunity. By adopting energy-efficient technologies, utilizing sustainable materials, and fostering inclusive workplaces, your business can not only meet but exceed global expectations. This is more than just certification—it's about leading the way in sustainability and social impact. Embrace these changes and position your company as a pioneer in the industry. Let's make a positive impact together. Learn more...https://lnkd.in/emdwDQju #BCorp #Sustainability #ColdChain #Packaging #Mexico #ClimateAction #FairWages #HumanRights #ContinuousImprovement

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What Jumps Out : 7 Days 7 Questions Welcome once again to the weekly look at Colombia and once again to a long weekend. Let's see what has been happening. 1. What did Superfinanciera Colombia have to say about Bancolombia at the Asobancaria conference ? 2. What did Banco de la República - Colombia say in response to the banks demanding stimulus for the economy ? 3. What did President Petro have to say at the same event ? 4. How was the May tax collection according to the Government ? 5. What was Ministerio de Hacienda Bonilla response ? 6. What is happening with diesel prices ? 7. How was the reform process this week ? That is it for now, have a restful weekend and catch up with you all next week. Regards Roops #Asobancaria #Economy #Diesel #Taxes #Exports #Reforms

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Article by our CEO and partner: Jorge I. Esteban Lorenzo The purchase of a significant stake or the entirety of a family business by an external investor presents challenges for both the original entrepreneurial family and the new owner. One common issue is resistance to change. Family members often struggle to adapt to new business practices and policies, especially if these threaten their legacy or the family values they have nurtured. Moreover, unclear roles for family members in the post-acquisition company structure can lead to conflicts and misunderstandings. This is exacerbated by a mismatch between the buyer's expectations for the company's financial and operational performance and the management traditionally handled by the family. Differences in communication style between the new management and family members can also cause significant friction. Another critical point is governance; striking a balance between the new governance structure and traditional family practices can be particularly complex. To overcome these challenges, it is crucial to establish clear and open communication from the start. This includes determining how and when meetings will take place, what reporting formats will be used, and preferred communication channels. Clarifying the roles and responsibilities of each family member within the new business structure is essential to avoid conflicts and ensure that all parties feel valued and understood. Implementing a gradual transition phase, where changes are introduced sequentially rather than all at once, can help the family adjust to the new management practices. Education and training in new practices and policies can significantly enhance the family members' integration into the new business approach, increasing their ability to contribute positively. Hiring external advisors can also be very helpful, providing a neutral perspective and mediating any differences that may arise between the family and the new managers. It is also crucial to plan the earn-out in a fair and realistic manner. A well-structured agreement can motivate family members to support the transition and work towards common goals. Finally, maintaining elements of the family business culture within the new management will facilitate a smoother transition and keep morale high among all involved. In conclusion, the key to a successful transition lies in sensitively managing the expectations and emotions of all parties, maintaining a balanced approach that values both the heritage of the family business and the new opportunities presented by the change of ownership.

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🚀 New investment Alert! 🌟 We’re over the moon to announce our latest adventure – investing in the phenomenal Moonflow! 🌕💫 These game-changers are shaking up the receivables management scene and taking it to stellar heights. 💼✨ A huge thank you to the visionary Facundo Turconi and his rockstar team for letting us jump on this rocket ship. Your drive and innovation are out of this world! 🌍🌌 Shoutout to Elena de Lara Diaz, who first discovered this gem in LATAM. 🌟 Moonflow just closed a Seed round of USD 1.74 Million, bringing their total funding to $2.5 million in just 6 months! 🌟 We were thrilled to lead this round alongside with great co-investors in the region such us Salkantay Ventures, Amador and Morro Ventures. This new round will fuel product development and enhance their groundbreaking platform, aiming to reach 1,000 corporate customers across 22 countries! 🌍✨ Let´s revolutionize receivables management globally. 🚀🔥 Buckle up, the future is here, and it’s powered by Moonflow! 🚀💫 #InvestingInTheFuture #Moonflow #TheVentureCity #Innovation #Gratitude #GlobalImpact #NextBigThing

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📢 𝐖𝐞 𝐚𝐫𝐞 𝐩𝐥𝐞𝐚𝐬𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 Horizon Partners’ 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐢𝐨𝐧 𝐚𝐬 𝐁𝐫𝐨𝐧𝐳𝐞 𝐒𝐩𝐨𝐧𝐬𝐨𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐮𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐀𝐫𝐠𝐞𝐧𝐭𝐢𝐧𝐚 𝐄𝐧𝐞𝐫𝐠𝐲 𝐖𝐞𝐞𝐤 𝐒𝐮𝐦𝐦𝐢𝐭 & 𝐄𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐨𝐧 2024 📄 With two decades of expertise, Horizon Partners focuses on the Latin American energy sector through three business verticals: - 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐁𝐚𝐧𝐤𝐢𝐧𝐠: offering independent financial and strategic advice in M&A capital raising and restructurings. - 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐄𝐪𝐮𝐢𝐭𝐲: specializing in club deals and co-investments. - 𝐏𝐮𝐛𝐥𝐢𝐜 𝐌𝐚𝐫𝐤𝐞𝐭𝐬: managing an investment fund with a track record of shareholder activism. 🌐 Horizon Partners owes its a leadership as one of the 𝐩𝐫𝐞𝐞𝐦𝐢𝐧𝐞𝐧𝐭 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐚𝐝𝐯𝐢𝐬𝐨𝐫𝐬 𝐚𝐧𝐝 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐋𝐚𝐭𝐢𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐞𝐧𝐞𝐫𝐠𝐲 𝐬𝐞𝐜𝐭𝐨𝐫 𝐭𝐨 𝐢𝐭𝐬 𝐡𝐢𝐠𝐡 𝐬𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬, 𝐰𝐢𝐝𝐞 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩 𝐧𝐞𝐭𝐰𝐨𝐫𝐤 𝐚𝐧𝐝 𝐝𝐞𝐞𝐩 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐤𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞. Their extensive relationship network includes long-term relationships with banks, private equity firms, and strategic investors globally. Their high standards are guaranteed through the direct involvement of their senior partners in all aspects of a deal. Their outstanding industry expertise and hands on approach allows them to handle 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐜𝐨𝐦𝐩𝐥𝐞𝐱 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬—𝐨𝐟𝐭𝐞𝐧 𝐬𝐮𝐜𝐜𝐞𝐞𝐝𝐢𝐧𝐠 𝐰𝐡𝐞𝐫𝐞 𝐨𝐭𝐡𝐞𝐫𝐬 𝐡𝐚𝐯𝐞 𝐧𝐨𝐭. 📈 Horizon Partners's role as a Bronze Sponsor highlights 𝐭𝐡𝐞𝐢𝐫 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐝𝐞𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐋𝐚𝐭𝐢𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐞𝐧𝐞𝐫𝐠𝐲 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲. 🔗 Learn more about Horizon Partners' outsized contribution to the Latin American energy sector by confirming your participation in the Argentina Energy Week Summit & Exhibition 2024. 𝐅𝐢𝐧𝐝 𝐫𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬 𝐛𝐞𝐥𝐨𝐰 👇

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The #RealEstate development sector is key in #Mexico, however it is extremely sensible to regulatory and political changes. The #SHCP sends a message of stability and certainty to the sector, being the #Nearshoring a key matter.

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#Savings #deposits in #CaboVerde #banks reached a record value of 10.2 billion escudos (92 million euros) at the end of the first quarter of this year, according to data from the central bank, analyzed by Lusa. The value follows an #increasing monthly #trend (renewing highs since October) and represents a growth of 8.6% in one year, indicates the monetary summary published by Banco de Cabo Verde (#BCV). A further 808 million escudos (7.3 million euros) were channeled into savings in 12 months, between March 2023 and the same month this year. #Term #deposits (which in addition to individuals include other entities) also reached a record value in February, with 46.2 billion escudos (418 million euros) and fell in March to 45 billion escudos (407 million euros ). Even so, the value at the end of the quarter was 4.4% above that recorded a year earlier. The amount of demand deposits in national currency also broke records in each month of the first quarter of this year, reaching the end of March with a new maximum of 107 billion escudos (976 million euros). Eight commercial banks operate in Cabo Verde, authorized by BCV.

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The Latin America region central task, however, remains boosting lackluster growth rates. This report forecasts that regional GDP will expand by 1.6 percent in 2024. GDP growth of 2.7 and 2.6 are expected for 2025 and 2026.

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LatAm Seed Stage Valuations Are Finally Coming Down – This is Good for Founders and VCs When the market correction started in early 2022 the first companies to see steep valuation declines were public equities, pre-IPO, and late-stage growth businesses. Over the following 18 months, valuation declines trickled down the alphabet until they seemed to hit a wall shielding pre-seed and seed companies whose valuations remained at 2021 levels. This is beginning to change. One of the main reasons for this change is that founders starting a business today are watching their peers who raised in 2021 struggle to sustain their valuations. Many 2021 businesses have resorted to internal bridge rounds, others are doing flat or down rounds, some have decreased burn significantly hoping to grow into their previous round’s high valuation, and yet others have had to fold. None of these scenarios is ideal. They tend to add a lot of stress to founders’ lives and in most cases lead to increased dilution. The business suffers as a consequence. Founders raising their Seed round today are noticing this trend and are adjusting valuations accordingly. This is the smart thing to do for a simple reason: Raising a Series A in 2024 is very different from 2021 In 2024 investors scrutinize traction at the A-round. They meticulously review KPIs, want to understand a path to profitability, double click on cash burn, and then look at what public market comps are trading at. None of that happened in 2021 where a strong team and a compelling vision for the business were enough. What does all this mean for 2024 Seed companies? The implication of raising at a very high valuation in 2024 is that you need to be very confident that you will be able to get enough traction in 24 months to defend a 2x or preferably 3x valuation increase from the previous round. This is easier to do if you start at $7m post vs. $20m post. Conservations between VCs and founders about valuation should focus on having an honest discussion about what needs to happen to raise the next round of financing and what traction and signs of product-market fit one needs to see to go out and raise successfully. Founders and VCs are finally taking note of these new market circumstances and both are better off for it. Disclaimer: There are always exceptions to the above. Some businesses truly require more capital at the early stages of the business in which case a higher valuation is warranted.

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NEW: (Translated from original) "The Central Bank of the Argentine Republic (BCRA) has confirmed that companies with pending profit distributions will be able to subscribe to Bopreales. This is expected to begin next week. BCRA’s Communication “A” 7999 states that both companies with pending dividend payments to non-resident shareholders and non-residents who have received dividends in pesos in the country in recent years will be able to purchase these bonds in the primary market.   However, there are some important differences compared to importers. Unlike the latter, new Bopreales buyers will not be able to access the CCL (Contado con Liquidación) to settle 100% of dividend debts. This is due to the difference between the selling price of the bonds and their nominal value (VN). Recall that importers who buy Bopreal do have access to the CCL without affecting their access to the MULC (Mercado Único y Libre de Cambios) to settle their commercial debt, as Bopreales trade below par.   In addition, the BCRA also published Communication “A” 7997, which specifically addresses the purchase of Bopreales by financial institutions with non-resident shareholders.   The next Bopreal auction is scheduled for next week, according to official information provided by the BCRA. Assuming that Series 3 will continue to be offered and that the purchase of the bonds will continue to be subject to the PAIS tax, the implied exchange rate for buying Bopreales in the primary market with pesos and then selling them in the secondary market with dollars would be around 1,300 pesos, which is slightly more than 200 pesos above the CCL.   It will be interesting to see if companies with pending dividends are willing to accept these levels or if they prefer to wait. The financial market situation may influence their decisions." https://lnkd.in/etEFvHxT https://lnkd.in/eT-srV3T #bopreal #debtcrisis

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