News, Studies & Macro Notes

At Glisco we drive our investment decisions with thoughtful and rigorous analysis, both at a macroeconomic level and at the firm level. We pride ourselves in having a unique understanding of the Mexican and global economies, which we share in the following insights.

News:

Muncher, Latin America’s leading Dark Kitchen chain Raises US$27m in a new round lead by Glisco Partners

Featured studies:

Insights: Venture Capital and Growth Equity Ecosystem in Latin AMerica

In 2022 we partnered with Endeavor to publish the first comprehensive study of the VC and growth equity ecosystem in Latin America. We will continue to work alongside Endeavor to further understand the VC and growth equity landscape in the coming years.

Mexican Economic Overview Sept. 2022

After growing 1.1% in 1Q 2022 relative to 4Q 2021, Mexico’s economy grew 0.9% in 2Q 2022 relative to 1Q 2022; primary activities expanded 0.9% while secondary and tertiary activities both grew 0.9% during the quarter, respectively. Meanwhile, after the U.S. economy contracted 0.4% during 1Q 2022, it once again decreased 0.1% in 2Q 2022 relative to 1Q 2022, its second consecutive quarter of negative growth.

Studies and Macro notes from our Library:

Inflation and interest rate differentials between Mexico and the U.S.

Driven by the relative lack of action by the U.S. Fed during 2H 2021 and early 2022, the (MX – US) real rate spread increased to 693 bps, more than 3x its average since 2018

Remittances to Mexico and LatAm in 2021

Latin America & the Caribbean received 21.6% more remittances in 2021 than in 2020, which represents ~3x the global average growth rate for these inflows

Inflation rates in Mexico and the U.S.

Current high inflation is mainly the result of: (i) an increased demand for goods generated by a stronger-than-expected recovery, and (ii) continued supply chain issues

Supply Chain Dirsuptions

Supply chain disruptions are considerably affecting the economy, causing prices to soar: from container freight rates to commodities, with labor shortages making things worse