The firm has gathered $68.2m for EMX Capital Partners, roughly half the amount it collected from Mexican pension funds for its EMX Capital I vehicle in March 2011.
EMX said it would invest both funds side-by-side to pick up majority control stakes in Mexican businesses for between $15m and $65m.
The firm has made two investments from its first fund to date, backing security and logistics provider ILSP and flexible packaging maker AG Convertidora.
A statement from the firm’s partners said, “We are extremely pleased by investor’s interest in EMX Capital, particularly considering an often volatile fundraising environment.
“We see highly attractive investment opportunities in Mexico and have a strong and focused team to successfully pursue them.
“The fund is off to a solid start, with two investments in thriving mid-sized companies.
“Each of these initial investments leverages our local network and private equity experience.”
EMX spun out of Carlyle Mexico in 2009 as a five-person team managing a $134m fund, which had invested in companies including Hispanic Teleservices Corporation, Universidad Latinoamericana and beauty product direct seller Arabela.
Founders Joaquin Avila, Rodrigo Fonseca, Miguel Valenzuela and Andres Obregon have been working and investing together for the past seven years according to the firm’s website.
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