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S.L.-based DFJ Americas will manage Hispanic fund

SHARE S.L.-based DFJ Americas will manage Hispanic fund

DFJ Americas Group, a Salt Lake-based venture capital firm, announced Friday that it will join with Mexican development bank Nacional Financiera and the Interamerican Development Bank to create a venture capital fund that will invest in Mexican and Central American companies that export to the U.S. Hispanic market and to Latin America.

The three groups hope to close the fund by the end of the year, according to a press release. It will have a capital target of $50 million, and DFJ Americas Group will be the fund investment manager.

DFJ Americas Group was created by Salt Lake-based Wasatch Venture Fund and Banorte Asset Management, a Seattle-based indirect subsidiary of Mexican bank Grupo Financiero Banorte.