Colombia: Promotora Wins with Easy Solutions Exit

Promotora, a leading venture capital fund in Colombia, has announced its second successful exit. The fund has sold its stake of ownership in Easy Solutions al Medina Capital Partners, Medina having invested US$11 million in the company.

This marks Promotora’s first IT exit and its second overall. Four other companies remain in its portfolio. Francisco Mira, Managing Director of Promotora, commented on the significance of the sale:

It shows that the VC model works well in Colombia and that the goal of the fund to invest in globally competitive and innovative tech companies is being achieved, generating high returns to investors.

In the release put out by Promotora, Mira explained that the exit responds to a planned investment thesis. He also added that it is good news for Latin America’s venture capital industry overall.

Promotora currently manages a US$67 million fund in Colombia. Its venture capital fund invests in innovative companies in IT, life sciences and applied engineering services, focusing on growth-stage companies that need capital and strategic support to develop markets and launch new products at an accelerated pace.

Easy Solutions is a company with Colombian roots that is headquartered in Florida in the United States. Founded and headed by Ricardo Villadiego, Easy Solutions delivers total fraud protection services to clients from around the globe.

Promotora invested in Easy Solutions in 2010, after which time the company was selected to Gartner’s 2010 and 2011 Magic Quadrant for Web Fraud Detection as a niche player. Also in 2011, it was named by INC Magazine as one of the fastest-growing private companies in the United States. And in 2012, it was listed as a Red Herring Top 100 North America Tech Startup.

These achievements played a role in sparking the interest of investors, including Medina. Easy Solutions currently works with more than 100 corporate clients, which use its products to protect over 32 million users. Medina concluded:

For Promotora it is a privilege to work with talented Colombian entrepreneurs who have the passion and vision to generate Colombian innovation companies that are globally competitive.

This text has been adapted and translated into English by Emily Stewart from its original Spanish publication.