Name: Tempest Capital SC
Address: 296 Avenida Paseo de la Reforma, Ciudad de México, DIF, 06600, MX
Telephone: +52 (55) 7100 4570

BUSINESSES LOCATED IN MEXICO AND LATIN AMERICA

Going forward returns can only be

achieved through true value creation.

WHO WE ARE

Tempest is a mid-market private equity investment firm focused on high potential opportunities with sensible valuations located in Mexico and Latin America. We have a value focus with an activist approach.

Tempest has a proven track-record in identifying and partnering with leading entrepreneurs across industries.

the tempest d

THE TEMPEST DIFFERENCE

Tempest is founded on the principle that change and uncertainty are to be embraced rather than avoided. We believe in directed, disciplined, resilient, ethical action. We construct concentrated high conviction portfolios in companies with clear competitive advantages and industry leading management teams.

Our organization believes that best practices are the minimum at which we shall perform. Strong governance, and transparency to our stakeholders is something they are entitled to.

TEAM

SEBASTIÁN MIRALLES, CFA MANAGING PARTNER

Sebastián is a leading voice in the Latin American private equity industry. Throughout his career, he has participated in 51 transactions amounting US$3.3 billion in equity, mezzanine debt and LP interest. He currently sits on Investment Committees overseeing +US$1.5 billion.

Sebastian was the Managing Director of Mexico Ventures, the Venture Capital and Mezzanine Division of Fondo de Fondos. Prior to that, he played a transformative role as the Principal coordinating the Private Equity team of CAF Development Bank of Latin America. Sebastián began his career working with the Global Value Equity team of Morgan Stanley and as a senior consultant in the Financial Services Group of Kroll. He is a founding member of the CFA Society of Mexico and represents the Public Investment Fund of Saudi Arabia on the Board of the KSA National Fund of Funds.

Mr. Miralles earned an MBA from IESE Business School and was valedictorian in his undergraduate class in international business at Universidad Panamericana. Sebastián holds both the CFA and the CAIA designations.

Ernesto joined Tempest Capital in 2017. Previously he was an Analyst at a boutique Investment banking and advisory firm. He began his career working in the Mexican PE and VC Association (AMEXCAP).

Ernesto is a Finance graduated student from the Universidad Panamericana. He studied abroad at the University of Strasbourg and Escuela de Finanzas Aplicadas in Madrid. He is a CFA Charterholder.

Mr. Ibarra has analysis experience in Fund of Funds and in the Industrials, Fintech, Media, Education, Telecommunications, Cybersecurity, Agriculture, Mobility, Healthcare, and Hospitality sectors.

ERNESTO IBARRA, CFA
PRINCIPAL

Pablo joined Tempest Capital as Junior Investment Analyst in 2022.

Pablo has participated in +13 transactions totaling US$ 350 million in deal value across Energy, Industrial, Oil & Gas, Telecommunications, Mobility, Forestry, and Agriculture industries, as well as in Fund of Funds.

He has also experience in buy-side advisory transactions, where he was involved in the debt restructuring of two issuances with a cumulative value of US$ 300 million.

Pablo has an undergraduate degree in Finance from the Instituto Tecnológico y de Estudios Superiores de Monterrey.

PABLO SALAS
SENIOR INVESTMENT ANALYST

PABLO SALAS
SENIOR INVESTMENT ANALYST

ADVISORS

RICARDO FERNÁNDEZ JUNIOR
INVESTMENT COMMITTEE

Ricardo founded Signal Capital after acquiring Hamilton Lane's operations in Brazil, which he led for 10 years. He was responsible for the entire Hamilton Lane strategy for Latin America, and for originating and structuring all investments in the region. He previously served as Vice President of Capital Dynamics Brazil.

Mr. Fernandez has been involved in transactions amounting to +US$ 2 billion in primary and secondary investments and joint ventures. In addition, he was a member of the Hamilton Lane Global Investment Committee.

Ricardo completed the Advanced Management Program at Harvard Business School and has an MBA from IESE Business School.

Joncarlo is the Founder of Upwelling Capital Group LLC, a California-based boutique investment advisor that provides services and capital solutions to premier institutional investors. Clients include endowments, foundations, family offices and a broad set of global investment organizations.

Prior to forming Upwelling in 2011, Mr. Mark was a Senior Portfolio Manager at the California Public Employees Retirement System (CalPERS), where he was responsible for investing in global private equity partnerships and direct investments, with a portfolio that exceeded US$48 billion of exposure. In addition, from 2007 to 2010, Mr. Mark served as chairman of the board for the Institutional Limited Partners Association (ILPA), whose 350 institutional members manage over US$1 trillion in private equity assets. Prior to joining CalPERS in 1999, Mr. Mark spent six years with Premier Farnell PLC.

Mr. Mark currently serves as an executive trustee of the University of California Davis Foundation and is chairman of the Finance and Investment Committee. From 2012 to 2018, he was on the board of AltExchange Alliance, an industry body chartered to define, maintain and promote a single data standard for the private equity industry.

Mr. Mark earned an MBA from the Graduate School of Management at the University of California, Davis and received a BA from the University of California, San Diego. He also holds Series 62, 63 and 65 FINRA securities licenses.

JONCARLO MARK
EXTERNAL ADVISOR

team

ACTIVE VALUE INVESTING

The traditional approach to private equity is broken. Financial engineering has run its course. Returns must be achieved through true value creation. This can only take place when actively partnering and engaging with management teams that share the drive to performan and the highest ethical standards.

We generate value for our investors through a meticulous bottom-up approach that selects firms with structural advantages that provide downside protection while at the same time leveraging our internal and external capabilities for the benefit of portfolio companies.

These high conviction positions coupled with Kelly Criteria portoflio construction allow us to provide Margin of Safety to our investors within what we like to call an Active Value approach.

PARTICIPATED TRANSACTIONS

COMPANY DESCRIPTION

PayClip (“Clip”) provides mobile payment services. The Company allows businesses and consumers to make transactions by turning their mobile device into a card terminal. Clip serves customers across Mexico and internationally. Clip is the largest payment fintech firm in Mexico. It is participated by General Atlantic and Softbank. Fully exited.