Pérez Correa González advised GC Capital on the renegotiation of its investment in SkyAlert.

05/08/2021

Pérez Correa González

The venture capital fund GC Capital, advised by Perez Correa Gonzalez, renegotiated the terms of its investment in SkyAlert de Mexico to strengthen the development and expansion strategy in the United States and Latin America of the famous app that alerts about earthquakes. The amount of the investment was not disclosed.

 

SkyAlert is a 100% Mexican technology company that developed an app to alert and warn about earthquakes nationwide. It is the only application in Mexico that sends alerts with the estimated time of arrival of an earthquake.

 

This renegotiation takes place in a context of economic recovery after the COVID-19 pandemic. According to data from the financial platform TTR, in the first six months of 2021, venture capital transactions in Mexico increased by 88.24% compared to the same period in 2020 reaching a total amount of invested capital of $1,426 million dollars, which represents a positive trend in the national venture capital market.

 

Fernando Eraña, partner of the Venture Capital Practice of Pérez Correa González, said that "Mexico continues to be an extremely attractive market for technology companies: because of the size of its population and the levels of cell phone penetration. I see many reasons to continue betting on the country. Federico Vázquez, Senior Associate, commented that, "Technology companies are going through an excellent moment in Mexico and the rest of Latin America, which is why funds seek to favor their growth and maturation through this kind of transactions".