Since 2014, the VC firm began to empower Mexican startups with an initial fund of $9.3 million. That amount increased to $22 million in 2019. Now known as Wollef, the firm has funded 31 companies. Of these, ten are Mexican, 19 are constituted elsewhere but has operations in the country, and two are established outside of Mexico.
There are four unicorns within Wollef’s portfolio: Kavak, Konfío, Loft, and Nubank; in addition to other important startups for the ecosystem such as Ben & Frank, Conekta, Foodology, and Jeeves.
From Jaguar to Wollef
“Wollef is inspired by the wolf, an animal that hunts in groups in an aggressive, fair and faithful way. We invest in enterprising alphas who risk it all and who accept us as part of their pack, ”explains Pérez-Grovas, Wollef co-Founder and General Partner, in a press release regarding the name change.
The vision and experience from “entrepreneur to entrepreneur” is what makes this fund unique. Wollef promises to provide knowledge about the Mexican market to all those Latin American startups that have long-term plans within the country.
“Our new name responds more strongly to this vision of teamwork… we invest in teams led by extraordinary entrepreneurs. We learned that the one who wins is the one who makes a herd, and we are very fortunate to gain the trust of world-class entrepreneurs who accept us in their herd and value what we bring to the table, ”says Pérez-Grovas.
Third investment fund
Latin America is booming right now. Investment funds find the region extremely attractive. According to LAVCA, LatAm has received an investment of $ 11.5 billion so far in 2021; a record for the regional ecosystem.
Wollef is aware of this, and therefore decided to open its third investment fund starting in November 2021. The goal is to raise $100 million by the end of 2022.
“What distinguishes us is our closeness to entrepreneurs, we truly become a member of the team, our experience is a bridge that connects very strongly,” says Cristóbal Perdomo, Co-Founder and General Partner of Wollef.