VEMO (the “Company”), a company focused on the clean mobility transition in Mexico, today announced that global sustainable real assets investor, Vision Ridge Partners, has led a US$250 million commitment to the Company to help accelerate its expansion. VEMO will use the capital to advance its deployment of public charging infrastructure and electric vehicles (“EVs”) across Mexico, as well as to further develop its tech-enabled EV fleet management solutions.
VEMO operates a vertically integrated, clean mobility platform that combines EVs, charging infrastructure, and fleet technology to help support Mexico’s public EV charging network. The Company hosts public charging clients and leverages the synergies of its business lines – including VEMO Impulso, Latin America’s first lease-to-own EV product in partnership with Uber and DiDi, and VEMO Conduce – with an aim to self-generate demand.
“This investment marks a key milestone in VEMO’s history, following years of relationship-building and strategic alignment with Vision Ridge”, said Germán Losada, Co-Founder, Chairman, and COO of VEMO. “With this commitment, we believe VEMO is well positioned to enter its next phase of growth alongside a partner that brings deep sector expertise in electrified mobility, conviction in our team, and a shared vision for the future of transportation.”
“This partnership is grounded in complementary values, a like-minded approach, and a deep understanding of what it takes to build integrated, high-impact businesses in nascent and rapidly evolving markets”, added Roberto Rocha, Co-Founder and CEO of VEMO. “Vision Ridge brings significant global insight into sustainable asset development, along with a demonstrated capacity to support platform-scale transitions for businesses like ours.”
Vision Ridge has a history of supporting the expansion of growing electrified transportation platforms globally and VEMO is the seventh such platform that Vision Ridge has invested in since its founding.
“We firmly believe the electrified transportation sector is both a key pillar and beneficiary of the ongoing global transition to sustainability,” commented Reuben Munger, Founder, Managing Partner, and Chief Investment Officer of Vision Ridge. “We are excited to support Roberto, Germán, and the entire VEMO team, whose combined vision, execution, and purpose we believe position the Company to capitalize upon the shift toward more resilient and sustainable transportation systems in Mexico’s emerging EV market.”
“VEMO is seeking to enable a systemic shift through its integrated platform,” concluded Paul Luce, Managing Director at Vision Ridge. “We look forward to leveraging Vision Ridge’s significant expertise scaling electrified transport and EV fleet businesses to help VEMO’s leadership team continue advancing its mission of turning operational complexity into scalable transformation in what we believe is a region with tremendous potential for electrified mobility.”
Vision Ridge’s commitment further strengthens VEMO’s capital base. Pro forma to this commitment, the Company has raised over US$350 million in equity from leading international investors, including Riverstone Holdings as its initial backer. In parallel, VEMO has secured more than US$150 million of debt financings from global sustainable infrastructure investor Orion Infrastructure Capital and specialized Mexican lenders, including BEEL Infrastructure Partners, PROMECAP, Covalto, and Kapital. In total, VEMO has raised over US$500 million to date. With this capital foundation, and continued access to both private and public debt markets, the Company plans to invest more than US$1.5 billion over the next five years.
SOURCE: VEMO
