Mexico's Ex-President Vicente Fox: He's Back, With an Energy Fund Jude Webber - Beyondbrics
go to original January 9, 2014

Former Mexican president Vicente Fox (Jake Dean/Dallas Business Journal)

With the ink only a month old on Mexico’s landmark energy reform – and the fine print of how to apply it yet to be approved – Vicente Fox, a former president, is already eyeing an opportunity.

He has announced the creation of a $500m fund – indeed, most of the money has already been raised, says the former Coca-Cola executive – to drive investment into the energy sector as it shakes off the shackles of three quarters of a century bound to the state.

Speaking from his Centro Fox think tank, the gravel-voiced rancher told Beyondbrics the project was entirely Mexican and he had been invited six months ago to help drum up support. He himself has not invested in the project, and he could not yet give full details or reveal the masterminds or investors. But he says: “It’s unique and the first fund in Mexico to specialise in energy and infrastructure.”

The fund has been canvassing international pension and endowment funds, and oil companies or construction firms could also participate. The aim is to channel funds to mid-size companies to beef up much needed technology in a sector he says has become left behind in Mexico. One example: a water drilling firm which, with some additional know-how, could turn its hand to drilling for oil and gas.

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