What 500 Startups’ purchase of Mexican.vc really means

Originally posted on VentureBeat:

500 Startups acquires Mexican.vcIn early August, Dave McClure’s venture capital firm, 500 Startups, acquired Mexican.vc, a small VC that, well, invested in Mexican tech startup companies. The acquired VC, which co-founder David Weekly told me started as an email with the subject line something like “500 Sombreros” in late 2010, had progressed by mid-2012 to being the leading investor in a small but growing community of tech-oriented venture capitalists in Mexico. While David has stepped back to work on a new project, Oha.na, co-founders Santiago Zavala and Cesar Salazar continue to work with portfolio companies in Mexico and spot new ones as part of 500 Startups.

It would be easy to dismiss this as just another one-off acquisition by 500 Startups on a quest to live up to its name. McClure, et al, have taken stakes in a variety of companies all over the world. And it was McClure, after all…

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