MEXICO - Finance
Managing Partner US, Maquia Capital
Guillermo Cruz is a Harvard graduate and is currently the co-founder of two public companies, Maquia Capital Acquisition Corporation, a USD175-million SPAC listed on Nasdaq, and Benessere Capital Acquisition Corporation, a USD115-million SPAC listed on Nasdaq. Additionally, he manages two private equity funds focused on venture capital, positioning himself as one of the leaders in the private equity industry in the country with more than USD295 million under management.
Maquia has been in operation for six years. We have been in the financial market offering investment through our private venture capital fund. Through that fund, we had the capacity to understand the financial market and help companies grow. Our objective on that initiative was to create opportunities for those investments. We started with a small MXN120-million fund, which was a reasonable amount for the sector. After that, we started a growth equity fund that was larger and focused on the agro sector. Subsequently, we identified an opportunity amid the pandemic, through a banker that brought us an interesting proposal.
Many people have approached us because they are interested in the special purpose acquisition company (SPAC) model, whether it is for an educational or professional application. We have learned that many seek to launch a SPAC vehicle. For that reason, we have been invited as professional speakers and educators on the subject matter. Maquia Capital’s next step is to create a fund to launch more such vehicles. This fund will seek to launch between six and ten SPACs within two years. We will start in October of 2021. I see a great deal of enthusiasm from Mexican investors in this vehicle. It is not an easy process; It consists of a great deal of study and due diligence. The boom of SPACs started due to a regulatory change in the US that took place in 2019. The vehicle has existed since the 1990s, but it was not that popular until that regulatory change, which cuts down on red tape.
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