The Company buys Mexican.VC. extending its range in Latin America and bringing Mexican.VC partners César Salazar and Santiago Zavala onto the team. According to McClure, 500 Startups made nine investments in Brazil, with another five or six in Chile, Argentina, and Mexico. With Mexican.VC, it expects to make an additional 20-30 investments in the region each year.
Mexico is the world’s 12th largest economy, according to Salazar, and might even be growing faster than Brazil. It also expects to see the number of Internet users double over the next five years.