Fundraising Fox

VARIV

Venture studio

Mexico City · Seed · 8 people tracked

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Investment thesis

VARIV operates at the intersection of company building and venture capital in Latin America, having been active for over 17 years. The firm both creates businesses from scratch alongside entrepreneurs and invests in early- and growth-stage technology companies, with a strong emphasis on Spanish-speaking markets, especially Mexico. Its focus areas span fintech, lending, marketplaces, mobility, delivery/logistics, HR software, insurance, and consumer technology. VARIV tracks and defines emerging global trends to create value for investors, portfolio companies, and end-users, and its partners frequently take board roles and co-found ventures such as Bankaya, Cometa VC, Zylus, Sttega, and Nomipay.

Source: firm website, verified Jul 31, 2026.

Stage
Seed
HQ
Mexico City, MX
Instruments
Equity
Founded
2007
Tracked investments
41

Team · 8 people

from the firm's website
Diego Vargas· Co-Founder

Co-founder of VARIV who is active across all investment verticals and oversees venture building and investing across industries, creating new businesses and serving on portfolio boards. He has co-founded companies including Bankaya, Osmos, Zylus (FreedomPop), Sttega, BAX, and Cometa VC. He holds a BBA in Finance from Tecnologico de Monterrey and an MBA from IE Business School.

Ernesto Vargas· Partner

Active across all investment verticals, overseeing venture building across industries and serving on portfolio boards. He has helped build companies such as Nomipay, iVoy, and Cometa VC, and is focused on sustainability projects and raising a climate-focused fund. He holds a BA from Universidad Iberoamericana and an MBA from NYU Stern.

Mauricio Cordero· Co-Founder & CEO

Co-founder and CEO of VARIV.

Ramon Chedraui· Co-Founder

Co-founder of VARIV.

Lea· Head of Venture Capital

Oversees VARIV's venture capital investments with more than twelve years of experience in venture and growth stage investing. She previously led ABInBev's fintech investment initiatives in New York, worked at LIV Capital in Mexico City, and began her career at Credit Suisse. She holds a BA in Industrial Engineering from Universidad Iberoamericana and an MBA from IE Business School.

Andres· Investment Analyst

Supports VARIV's investment strategies through research and analysis, primarily for the venture capital vertical, and assists with business development. He previously worked in M&A at Lottus Education and as a strategic planning analyst at Alphacredit. He holds a BS in Financial Direction from ITAM.

Mimoun· Operations / Investment Support

Manages VARIV's day-to-day operations and supports the investment process for venture capital, venture building, and business development. He previously worked in PwC's Corporate Finance team, at PiP Latam, and in CitiBank Colombia's M&A team. He holds a BBA from CESA Business School in Bogota.

Mimoun Cadosch

Mimoun oversees VARIV's day-to-day operations and helps coordinate its venture capital, venture building, and business development activities. He previously worked in corporate finance and M&A at PwC, PiP Latam, and CitiBank Colombia.

Investments · 41 tracked

founders shown can be your intro path
500 Startups

Global venture capital firm; its LatAm program (Somos Lucha) invests in Spanish-speaking Latin American companies.

Agua Magica

Ultra-premium sipping mezcal crafted from high-mountain Espadin and Tobala agaves from Oaxaca.

Ancana

Marketplace for buying fully managed vacation homes through fractional ownership.

Aplik

Signage company in Mexico offering large-scale printing, loose lettering, and light box manufacturing.

Bankaya

Mexican neobank focused on unbanked and underserved populations, offering a superapp with savings, service payments, remittances, and credit via an offline customer acquisition strategy.

Bewe

Management and marketing software for health and beauty centers in Spanish-speaking markets.

Bitso

Cryptocurrency exchange platform for buying and selling bitcoin and other cryptocurrencies.

Bnext

Leading consumer digital bank in Spain.

Cabify

Integrated mobility company serving Spanish-speaking markets.

Care/of

Healthcare technology company offering personalized digital and physical health products.

Cometa VC

Venture capital firm investing in early-stage technology companies targeting Spanish-speaking markets.

Conekta
Consubanco

Fully-licensed niche bank in Mexico focused on public-sector payroll-deduction lending, expanding via technology.

Crania

Outdoor cultural and sustainability hub on the Baja California coast built from an abandoned crane reclamation project, hosting art, music, gastronomy, and sustainability events.

Creze

Digital lending platform providing secured and unsecured loans to SMEs in Mexico using a proprietary credit scoring model.

Daystore

Dark store company operating distribution centers dedicated to online shopping.

FACEIT

Gaming platform for professional competitions in online multiplayer video games.

GAIA

Furniture eCommerce platform selling home products and design accessories.

Glovo

Mobile urban marketplace offering same-hour delivery of any product across Spain, Italy, and France.

GPF Capital

Private equity firm based in Madrid, Spain.

Hero Guest

Digital training app for hospitality service staff.

InstaFit

Online personal training platform offering personalized exercise and nutrition programs with virtual coaching.

ioogo

Tax and accounting software and services company specializing in software, mobile, and web development.

iVoy

Last mile delivery company in Mexico City.

JOKR

Grocery and delivery platform providing hyper-local product delivery.

Juxtapose

Venture builder that partners with experienced entrepreneurs to build category-defining consumer technology companies.

Kueski

One of the largest buy now, pay later (BNPL) and online consumer lending companies in Mexico.

MPower

Online lender offering student loans to international students studying in the US or Canada.

Nomipay

Manages third-party payroll deduction processes for personal loans, simplifying loan collection for workers, employers, and service providers.

Ocho

Provider of affordable, fair, credit-building auto insurance with zero down payments.

Omniprinter

Technology integrator providing IT solutions and digital transformation services.

PayJoy

Consumer financing company enabling smartphone purchases on credit with installment payments.

Rankmi

Full-service HR SaaS solution for medium and large companies in Latin America; acquired Mexican payroll HR tech company Osmos.

Skydrop

Logistics management software for SMEs in Latin America.

Spakio

One-stop shop for customers to manage their physical belongings as if they were digital.

Sttega

Provides customized financial solutions tailored to each client's specific needs.

Volana

Offers loans to micro businesses in Mexico.

Wallapop

Buying and selling app for second-hand items using geolocation as a differentiator.

WelcomeTech

Platform empowering immigrant success across finance, healthcare, education, law, and technology.

Yotepresto

Marketplace lending platform connecting investors to near-prime borrowers.

Zylus

Mobile virtual network operator (MVNO) and enabler (MVNE) providing partners a ready-to-use solution for mobile, financial, and value-added services.

Frequently asked questions

What stage does VARIV invest at?
VARIV invests at the Seed stage.
What sectors does VARIV focus on?
VARIV focuses on Consumer, Crypto & Web3, E-commerce, Fintech, HR Tech, InsurTech, Logistics & Supply Chain, Marketplaces, Mobility & Transportation, SaaS.
Where is VARIV located?
VARIV is headquartered in Mexico City, MX.

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