BVC sets its sights on Mexico with its new USD $7M fund for B2B startups at the pre-seed and seed stages

Mexico is consolidating its position as one of the key markets in the investment strategy of B Venture Capital (BVC). The fund announced the closing of its third vehicle at USD $7 million, with a clear thesis: investing in early-stage B2B startups that incorporate artificial intelligence, many of which are actively expanding or planning to grow in the Mexican market.

Although BVC was founded in Brazil in 2016, it now operates as a regional platform with a presence in São Paulo, Bogotá, and Lima, and an increasingly strong focus on strategic hubs such as Mexico. This is no coincidence: several of its startups are already scaling in the country or have made it a priority in their expansion plans.

The new fund—which is nearly twice the size of its predecessor—also reflects the confidence of its investors: 30% of the capital comes from LPs who had already backed its previous fund.

BVC’s new thesis, shaped by artificial intelligence

BVC’s third fund aims to build a portfolio of between 20 and 22 startups, with an even split between Brazil and the rest of Latin America. One pattern is clear, however: seven of its first eight investments are AI-native companies or companies that integrate artificial intelligence agents into their products.

The sector focus remains on B2B models, particularly in fintech and SaaS, as well as verticals such as proptech, legal tech, logistics, e-commerce, and healthtech, many of which are highly relevant to Mexico’s business ecosystem.

Additionally, BVC’s thesis includes:

• Geography: Special interest in Mexico. All of Latin America, including Brazil.
• Investment ticket size: 1st ticket of $150,000 to $200,000 USD
• Pre-seed cap valuation: $1 and $5 million USD
• Additional notes: Possibility of follow-on investment in subsequent rounds.

Mexico on the regional venture capital radar

With more than 45 investments in its portfolio, BVC has evolved from a local focus in Brazil to a truly Latin American thesis. Its track record supports that expansion: Fund 1 achieved an exit rate of 50%, with six successful exits, primarily in fintech through acquisitions.

Cases such as Contas Simples in Brazil—which raised a USD $45 million Series B—or Mono in Colombia demonstrate its ability to identify early-stage talent. Now, the focus is on replicating that model in dynamic markets such as Mexico.

"Mexico is one of our priority markets at this stage of the fund—we are actively looking for deals in Mexico City, Monterrey, and Guadalajara." said Alejandro Troll, General Partner at B Venture Capital.

Expansion from Latin America into Mexico

A concrete example of this strategy is Hashi, one of the fund’s investments. Founded by an Argentine entrepreneur, the startup already has a presence in Peru, Mexico, and Central America, and has secured corporate clients such as PepsiCo. 

Since BVC’s investment, Hashi has increased monthly sales by 5x . This reflects the kind of growth the fund aims to capture: B2B solutions with strong execution and the ability to scale rapidly in key markets such as Mexico.

Another example is Pantera, founded by Colombian entrepreneurs and actively expanding in Mexico, where it already has corporate clients in several cities. At a time when artificial intelligence is redefining the rules of the game, BVC is backing founders who not only understand the technology but also know how to apply it in traditional industries. And on that map, Mexico is not just an expansion destination: it is a central piece.

More than capital: a partner for growth

BVC describes itself as a hands-on. Beyond the initial check, we actively support founders with their go-to-market strategy, scaling, business model, and preparation for future funding rounds.

In addition, portfolio founders gain access to our regional network of startups, co-investors, and strategic partners across Latin America—an asset that is key to accelerating growth and opening doors in new markets.

Apply and connect with B Venture Capital

Interested startups can apply directly at bventure.capital, using the pitch form, or connect with the team on LinkedIn: Alejandro Troll, Ana Prieto, Rahiza Chicaeme and Valentina Bojacá.