Mexico City, June 29, 2021.
GC Capital capitalized its $10,500,000.00 M.X.P investment in Amigo Travel Group, S.A.P.I. de C.V. through the conversion of a Convertible Note executed in 2019. Amigo Travel Group is a platform that integrates offers of Airline Tickets, Hotels, Hostels, Car Rentals, Buses, Land Excursions and Cruises.
Pérez Correa González y Asociados, S.C. represented GC Capital in the negotiation with Amigo Travel Group, its creditors and investors to agree on the terms and conditions of the capitalization.
Fernando Eraña, partner of the Venture Capital Practice of Pérez Correa González, pointed out that "travel tech is beginning to impact and revolutionize the tourism industry, and once the pandemic is controlled, we can expect an explosion of this type of platforms". Federico Vázquez, Senior Associate, commented that, "the fact that a fund chooses to capitalize its participation in a company is a sign of confidence in its growth, so this kind of transactions are a good sign for the entrepreneurial capital ecosystem in Mexico".