Searching in Latin America?

May 05, 2026

by Luke Tatone from Massachusetts Institute of Technology - MIT Sloan School of Management in Portland, OR, USA

We're working hard to grow the Searchfunder community in Latin America. Please take a moment to introduce yourself below. Some questions to consider answering: Where are you based? What is your background? What's your buy box? Have you acquired yet? Where do you need the most help right now? Where can you provide help to others? Anything else on your mind? We'll be able to have much deeper discussions if you can provide as much detail as possible. A paragraph or two is perfect. Be sure to tag (@) when replying to comments to make sure your sub-comments are read.

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Reply by a searcher
from Columbia University in Ciudad de México, CDMX, México

Sure @redacted‌ and thanks for the initiative! Carlos Rodriguez, based in Mexico City, Mexico, my background is mostly financial (Commercial and Investment Banking, with some tech experience) with some operations experience (food industry). I am currently a solo searcher, focused in the food industry in Mexico, looking for companies based in Mexico with some exports, with sales between 5 and 20 MM USD. One of my current projects is to create a fund that boosts Mexican SMEs, by paring them with Japanese SME’s to source the US market in industries such as food, automotive, aero special, medical equipment, oil and gas, through JV’s or other types of associations such as M&A. The last relevant deal I submitted an LOI was in the frozen food industry, and didn’t went through due to lack of anchor investors to fund the acquisition. I believe this is where the most help is needed, as in Mexico SMB loans are not an available option. The traditional search fund model in Mexico is still something new, and if you lack ties with wealthy family offices, the road to fund is somehow harsh. I can help others in the region by sharing my insights of 3 years of solo searching and by sharing the opportunities I ran into in the middle.t I strongly believe there are multiple opportunities in Mexico and in the LATAM region, as most businesses are family owned, with traditional management and low tech. Private Equity Funds do not typically touch this kind of businesses not because of its size, but due to the low sophistication and shady accounting practices. The ETA model can easily bridge the gap to drive SMEs into more PE palatable practices for future acquisitions, thus in my view a great opportunity exists only if the funding and the backing of the model exists.

Reply by a searcher
from Harvard University in Ciudad de México, CDMX, México

Hi @redacted‌. I'm Antonio Rodriguez. Based in: Mexico City, Mexico (actively evaluating opportunities in both Mexico and the U.S.) Background: I come from an investment banking background and currently lead an advisory firm focused on FX, structured finance, and cross-border transactions across Latin America. Through this work, I have developed deep exposure to capital structuring, particularly with funds and fintechs operating between the U.S. and LatAm. In parallel, I am pursuing acquisitions as an independent sponsor. Buy box: Targeting companies with enterprise values between $5M and $15M USD. Industry-agnostic, with a preference for businesses that have stable cash flows, strong unit economics, and clear opportunities for operational improvement or growth. Have you acquired yet? Not yet — currently in active search mode. Where do you need the most help right now? Access to investors — particularly U.S.-based investors who are open to working with independent sponsors and are interested in cross-border opportunities. I have found this to be one of the most challenging aspects of the process so far, and I would greatly value introductions to investors comfortable deploying capital alongside operators based outside the U.S., or with interest in Mexico. Where can you provide help to others? Happy to support the community in Mexico City. I regularly stay in touch with other searchers and attend conferences annually, and would be glad to help organize small gatherings or events locally to strengthen connections across the network. Anything else on your mind? I see a strong opportunity for independent sponsors who can bridge the U.S. capital base with opportunities in markets like Mexico. Would be great to connect with others thinking along similar lines.

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