BANKING / FINANCE
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Ventana, a venture capital firm in Irvine, is putting together a $50-million growth fund to invest in medium-size U.S. companies that are starting maquiladora manufacturing operations in Mexico.
Maquiladoras are Mexican-operated plants where goods are manufactured or assembled with low-cost Mexican labor.
Ventana will start making investments when it collects $20 million in capital venture funds, said Scott E. Hutchinson, Ventana’s executive director.
Among the industries that could benefit from maquiladoras are furniture manufacturing, medical device production and electronic component assembling, he said. Ventana is looking for companies with about $20 million in sales. Many of those companies are labor intensive and marginally profitable, and they could do well in a maquiladora program, he said.
The venture capital firm already has a $10-million commitment from Mexico’s largest bank, Banamex in Mexico City, and is working on a large commitment from a New York investment firm, Hutchinson said.
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