Global ambition. Local advantage.
We partner with global innovators and established businesses to build, launch and operate new ventures in Mexico and Latin America.
Partners in what comes next.
We combine innovation, local strengths and capital to build and operate businesses together.
Global innovators
Adapt, launch and grow in Mexico and Latin America with a local operating partner.
Established businesses
Turn existing infrastructure, relationships and reach into new businesses.
Built with us. Backed by us.
We build businesses with partners and back others as investors.
Selected builds and investments. Includes historical relationships and exits.
Built with us
- Bankaya — financial access. Co-build.
- Nomipay — payroll infrastructure. Co-build.
- Osmos — people & payroll. Build · merged with Rankmi.
- Zylus — mobile infrastructure. Co-build.
- Sttega — business finance. Co-build.
- Volana — microbusiness credit. Build.
- COMETA — venture capital. Historical build · distinct firm today.
Backed by us
- 1Money — payments infrastructure. Seed · 2025.
- SPAKIO — storage & logistics. Early stage · 2023.
- PayJoy — financial access. Early stage · 2017.
- Glovo — local commerce. Early stage · 2015 · exited.
- Wallapop — circular commerce. VARIV I · 2014 · exited.
- iVoy — last-mile logistics. VARIV II · 2015 · exited.
A few steps along the way.
Our history
Investment history
Historical relationships and exits. The original VARIV Capital became COMETA in 2019; COMETA is a distinct firm today. COMETA history
- 1Money · 2025 · Seed financing
- 500 LATAM · 2013 · Early stage
- Agua Mágica · 2019 · Early stage
- Ancana · 2019 · Early stage
- APLI.K · 2012 · Growth
- BEWE · 2015 · Historical · VARIV II
- Bitso · 2016 · Historical · VARIV II
- Bnext · 2019 · Historical · VARIV II
- Cabify · 2015 · Historical · VARIV II
- Care/of · 2017 · Early stage · exited
- Conekta · 2015 · Historical · VARIV II
- Consubanco · 2022 · Growth
- Creze · 2019 · Buyout
- DayStore · 2021 · Early stage
- FACEIT · 2012 · Early stage · exited
- GAIA · 2015 · Historical · VARIV II
- Glovo · 2015 · Early stage · exited
- GPF Capital III · 2022 · Growth
- HeroGuest · 2022 · Early stage
- InstaFit · 2013 · Historical · VARIV I
- iOOGO · 2022 · Early stage
- iVoy · 2015 · Historical · VARIV II · exited
- JOKR · 2021 · Early stage
- Juxtapose · 2016 · Early stage
- Kueski · 2016 · Historical · VARIV II
- MPOWER · 2017 · Historical · VARIV II
- Ocho · 2021 · Early stage
- Omniprinter · 2014 · Growth
- PayJoy · 2017 · Early stage
- Skydropx · 2018 · Historical · VARIV II
- SPAKIO · 2023 · Early stage
- Wallapop · 2014 · Historical · VARIV I · exited
- Welcome Tech · 2018 · Historical · VARIV II
- Yotepresto · 2018 · Historical · VARIV II
The pieces. In place.
The capabilities each venture needs, connected from market entry to everyday operations.
- Capital — Investment and financial structure.
- Team — Leadership and specialist talent.
- Infrastructure & technology — Facilities, warehousing, hardware and software.
- Operations & delivery — Daily operations, logistics, accounting and customer support.
- Legal & relationships — Legal structure, licenses, permits and local relationships.
- Launch & growth — Go-to-market, marketing, sales and distribution.
From possibility to progress.
Discover
Validate local demand and adapt the business model.
Build
Bring capital, people and operating foundations together.
Grow
Launch, serve customers and improve with evidence.
Capital with commitment.
We back businesses with capital and a builder’s perspective on customers, operations and growth.
Rooted in Mexico. Open to the world.
A Mexican base. A regional perspective. Relationships across business, government and communities.
People make the difference.
Founded by Diego and Neto Vargas. Builders and investors with a shared perspective.
Give ideas a place to meet.
Spaces for our teams and partners to work, meet and exchange ideas.
Bahía
A shared home for our teams and collaborators.
Crania
Art, music and encounters in San José del Cabo.
FROM THE PROGRAMME · 2025
Mira Invites
Resident artist Mira launched her own event series at Crania in 2025. A place for artists to shape the programme, as well as perform.
The resident’s storyThe Ranch
From the field
SPAKIO expands its seed round.
TechLA1Money opens its business platform.
1MoneyOsmos and Rankmi come together.
RankmiWhat could we build together?
Tell us what you want to bring to the region, or build here.