PE Upstart Raising Mining Fund

Mexico-based Vander Capital Partners is raising a mining-focused private equity fund that could raise up to $175m. The vehicle is aimed at providing growth capital to smaller miners that have difficulty raising funds. “We are focused on small players that want to be larger. There are a lot of small companies with no access to financing,” says founder Roberto Charvel. The vehicle has raised 35% of its $175m goal, and Charvel expects it to reach 50% by first close, which should be by year-end. The fund is expected to be 80% invested in Mexico and 20% in other markets, mainly Colombia and Peru, Charvel says. Charvel notes that a significant portion of commitments have come from Canadian investors. Vander Capital was founded in 2009.