What do you do currently?
I currently manage a Venture Capital fund – Dux Capital – which was created in October 2016 and committed to investing in the leaders of today and tomorrow. Leveraging the strength of our own accelerator/incubator, Startup México (SUM), we offer a unique holding-hands model that focuses on sourcing, investing, monitoring and internationalizing the best startups in Mexico.
How and when did you get involved with the Mexican entrepreneurial ecosystem?
I started to get involved within the ecosystem back in my MBA at IE Madrid, where I began a startup myself. It was a consumer startup that offered protein smoothies, which failed. Coming back to Mexico I began to structure my VC and got heavily involved in the local ecosystem.
How would you describe the ecosystem in Mexico?
The Mexican entrepreneurial ecosystem is one of the largest and fastest-growing in the Latam region. I believe that the full ecosystem (funding, ideas, people, government and institutions) are now well connected to boost the ecosystem and become the next Silicon Valley.
What do you expect in the next 12 months?
I am a very positive investor, that’s why I truly believe that there is going to be higher political certainty towards the US and the local economic stability. We will continue to see local growth (GDP around 1.7% – 2.0%) copped by a solid monetary policy (7% interest rate). Given the monetary authority’s decisive policy rate response up to now (drove the policy rate from an accommodative to an already restrictive level) and the recent domestic and external developments, I believe that the central bank now has extra degrees of freedom to calibrate the monetary stance.
We are currently seeing Mexican investors bring back their foreign assets to Mexico as a sense of believing in the country and the strength of the ecosystem. The fiscal stimuli of asset repatriation, that the government expects to implement in July, will certainly boost the local financial markets.
What are the main challenges?
The main challenge relies in the ability of the Mexican Government to be prepared for the political pressures of the future relationship with the US/Canada and be ready to integrate the public and private sector for this reaction. We will have to rely more than ever in our main economic sectors (services, manufacture, automotive, etc.) in order to increase our global competitiveness and continue growing our local economy.
What change or result would bring the greatest benefits for the ecosystem?
I believe that the creation of new funds and resurgence of additional angel investors will boost the ecosystem. Today, we are around 60 VC funds, more than 520 VC transactions have been registered in the past 7 years, 22 exits have been performed and cumulated investments have reached c. USD$1.6bn. If we continue this momentum, we will be able to support innovation and entrepreneurial activity that will be the mainframe for growth.
Describe your typical day
I get up at 5:20 am everyday, go to a 1 hour calisthenics class, then I run between 10-20 km (preparing for my first marathon). I get to my office at 9:00 am, have a quick breakfast and start working. I have between 3-4 meetings daily (mostly with investors and entrepreneurs). I always try to have a quick lunch at my office, read 2 hours daily (mainly news and finance/strategy books) and spend time with my family at dinner. Go to bed at 12 am (should be earlier!).
Who is your favorite [Mexican or global] entrepreneur?
José Medina Mora from Compusoluciones.
A recent book do you recommend?
The Physician by Noah Gordon.
Smartphone, tablet, laptop or desktop?
iOS or Android?
Favorite social network?
Top of the mountains @ Baqueira Beret for a snowboarding trip.
What are your goals for the next 12 months?
- Continue being happy with my family
- Have Dux Capital team completed
- Make 10-12 investments in my fund
- Start the construction of my first house
- Complete my first marathon and run one more
One word that describes you?