# Impulsora del Fondo Mexico

Impulsora del Fondo Mexico is an Asset Manager based in Cdmx, Mexico.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Cdmx, Mexico
- **Region:** Latin America
- **Address:** Mexico City, Mexico
- **Founded:** 1988
- **Assets under management:** Undisclosed
- **Website:** impulsora.mx

## Regulatory record

- **CRD number:** 105298
- **SEC file number:** 801-16064
- **Registration status:** Registered
- **Latest Form ADV filing:** 2026-03-23T00:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/105298

## About

Impulsora del Fondo Mexico, SC is an SEC-registered investment adviser in CDMX, registered since 1981. The firm manages approximately $334 million in assets. It has 5 employees and 3 investment advisers.

## Sectors

- Media & Entertainment
- Real Estate
- Infrastructure
- Private Credit

## People

- Joaquín Vargas Guajardo — Founder and Chairman

## Questions

### What does Impulsora del Fondo Mexico actually own?

Impulsora controls Izzi Telecom, one of Mexico's largest triple-play providers, offering broadband, video, and fixed-line telephony to over 8 million subscribers. It also holds a controlling stake in Cinemex, the second-largest cinema chain in Mexico, along with a real estate portfolio tied to its operating assets. The group's structure consolidates these businesses under a single private holding company.

### Does Impulsora invest outside of Mexico?

The firm's operations and investments are overwhelmingly concentrated in Mexico. Its telecommunications and cinema businesses serve domestic consumers exclusively, and there is no public record of significant offshore investments or foreign portfolio holdings. The firm's thesis is tied directly to Mexican infrastructure and household consumption growth.

### What is the relationship between Impulsora and Grupo Televisa?

Impulsora acquired Televisa's cable and broadband assets over a series of transactions, eventually consolidating them under the Izzi Telecom brand. While the historical seller was Grupo Televisa, Impulsora operates independently as a privately held company with no ongoing strategic overlap or shared governance with the former parent.

### Why doesn't Impulsora disclose AUM?

Impulsora's value is tied to the enterprise value of its operating companies, not to a pool of assets under management in the traditional sense. Because it is a private holding company with no external LP obligations, it has no regulatory or commercial requirement to report an AUM figure. Its scale is inferred from Izzi's subscriber base and Cinemex's market share rather than from a public balance sheet.

## Related profiles

- [Imperatore Travel World](https://altss.com/profile/imperatore-travel-world)
- [Inara Capital](https://altss.com/profile/inara-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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