Glossary · Mexico
S.A.P.I. (Sociedad Anónima Promotora de Inversión)
Definition
The corporate form most Mexican startups adopt because it accommodates venture-style terms directly in its bylaws — transfer restrictions, rights of first refusal, tag-along and drag-along provisions.
Why it matters for a secondary
Any Mexican secondary starts with reading the S.A.P.I. bylaws, since they — not a securities regulator — set the transaction's ground rules.
Frequently asked questions
Does this term apply the same way everywhere in Latin America?
No. Each country in this glossary has its own regulator, corporate forms, and tax rules — this term is specific to the country tagged above. Check the linked country page for the fuller picture.
Is this legal or tax advice?
No. This is orientation for investors and allocators, not legal or tax advice. Confirm current rules with a licensed adviser in the relevant country before acting on anything here.