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Formation of Hispanic Capital Partners and other equity ventures aimed at the Latino market are a major boost for Hispanic big business and the community itself, experts say.
In early October, the annual conference of the U.S. Hispanic Chamber of Commerce became the setting for announcements of two new sources of capital and investment for Hispanic businesses.
U.S. Bank and the USHCC unveiled a partnership called !Capital tailored to Hispanic small businesses seeking loans.
However, another announcement of a venture-capital fund targeting mid-level Hispanic business had Hispanic market financial specialists buzzing about a trend that could allow more mature Hispanic corporations to evolve to a level of national prominence.
Bank One Corp. and the USHCC announced the funding of the venture-capital fund Hispania Capital Partners, which plans to invest about $70 million in Hispanic companies with annual revenues of $10 million to $200 million.
"This move is monumental," said Ruben Ramos, a vice president with Bank One Arizona. Ramos helped forge an alliance between Bank One and the USHCC in 2000 that formed the basis for the partnership in the Hispania fund. "It means that equity investors are focusing their attention to connect with Hispanic-owned businesses."
Washington Mutual,...