EMI, in the hands of Tribeca capital fund

Venture capital funds increase their presence in the country. In upcoming days, Tribeca -a fund recently created by former Philip Morris Colombia president Luc Gerard, associates from InterBolsa, and national institutional investors-- will finalize its purchase of 100% of the shares of Emergencias Médicas Integrales, EMI, a firm with revenues of U$ 30 million annually. The firm is based in Medellín and has operations in Venezuela and Ecuador. It is made up of Colombian and Uruguayan investors.

Among other services, EMI provides ambulance transport.

Tribeca will also make investments to expand EMI in the country and abroad.

The fund is starting with U$ 20 million, but it expects to attract between U$ 150 million and U$ 200 million, to invest in some two dozen companies in different sectors.

It objective is to identify investment opportunities in the local market, applying modern business administration techniques, with the objective of creating aggregate value, and guaranteeing an attractive rate of return for the fund's owners.

It is estimated that Tribeca will hold onto the EMI shares for between six to eight years.