Glisco Partners

Managing partners Federico Antoni and Fernando Lelo de Larrea lead the investment committee and oversee all capital deployment decisions. Both co-founded the firm in 2003 and remain actively involved in sourcing, diligence, and portfolio management. No external investment committee members or advisory board veto rights have been publicly disclosed.

Glisco typically invests between $10 million and $40 million per transaction, though exact check sizes vary by fund vintage and sector. The firm does both minority and control equity deals, with a preference for profitable, growth-stage companies that have proven product-market fit. It does not participate in seed or early-stage venture rounds.

Glisco operates a blind-pool institutional fund model, raising committed capital from limited partners who invest in a defined vehicle with a multi-year deployment period. This structure distinguishes it from many Latin American peers that rely on special-purpose vehicles or club-deal syndications assembled per transaction.

The firm relies on deep local networks built over two decades of operation in Mexico. Its partners maintain direct relationships with family-owned businesses, corporate carve-out candidates, and regional entrepreneurs — channels that are difficult for foreign funds to replicate. Glisco does not publicly disclose specific sourcing partnerships.

Glisco has not historically invested in extractive industries, heavy manufacturing, or commodity-linked sectors such as mining, oil and gas, or basic materials. The firm's mandate concentrates on consumer demand-driven sectors, technology-enabled services, and healthcare — all areas tied to Mexico's domestic consumption and enterprise modernization rather than global commodity cycles.