Oct 8, 2020 14:21
3 yrs ago
62 viewers *
Spanish term
SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE,
Spanish to English
Law/Patents
Law (general)
General Assembly Meeting
Dentro de un reporte de una asamblea ordinaria aparece el nombre de la empresa y su forma de organizacion juridica es "Sociedad ANonima Promotra de Inversion de Capital Variable"
Proposed translations
(English)
| 4 +1 | Variable-Capital Private Equity Firm |
Robert Carter
|
| 4 | variable capital investment promotion stock corporation |
patinba
|
| 4 -1 | venture capital firm for (variable capital) SMEs |
Francois Boye
|
Proposed translations
+1
14 hrs
Robert Carter
Mexico
Mexico
Native in English
Specializes in field
Mexico
Translating full-time since 1998
Native in: English (Variant: British) 
Works in: Spanish to English
Related KudoZ points
:
1372
Selected
Variable-Capital Private Equity Firm
As an approximation of what this whole term means, "variable-capital private equity firm" is fine, but you shouldn't translate it if it comes after the name because companies like this are required by law to include the whole term as part of their name (or S.A.P.I. de C.V.).
From Javier F. Becerra, Dictionary of Mexican Legal Terminology, 2nd Ed., p. 1110:
"sociedad anónima promotora de inversión (also SAPI) - literally investment promotion corporation; conceptually, private equity firm"
"La S.A.P.I. de C.V. (Sociedad Anónima Promotora de Inversión de Capital Variable) es una sociedad mercantil (ver definición) que permite la formalización de una empresa ante la ley siendo reconocida de manera oficial y regulada por la LGSM (Ley General de sociedades Mercantiles).
El objetivo de esta sociedad es el de abrir las oportunidades a PyME’s (del tipo tecnológico) permitiéndoles recibir inversión de menor escala para su crecimiento y así generar fuentes de trabajo."
https://easylex.com/sociedad-anonima-promotora-de-inversion-...
"A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leveraged buyout, venture capital, and growth capital."
https://en.wikipedia.org/wiki/Private_equity_firm
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Note added at 4 days (2020-10-13 05:00:57 GMT)
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In responses to Francois' criticisms of my suggested translation (which itself is simply taken from a renowned Mexican legal scholar who created one of the best bilingual legal dictionaries I've ever seen), here is a further description of what a "SAPI" is:
"El auge de las SAPI en el entorno corporativo mexicano se ha derivado en los últimos años de tres razones principalmente:
* Los fondos enfocados en impulsar o acelerar negocios en etapas tempranas han adoptado para concretar su participación, este tipo de régimen de capital.
* Simultáneamente, intermediarios financieros no bancarios como las sociedades financieras de objeto múltiple (Sofomes) se han constituido bajo esta figura jurídica.
* Y, por último, empresas interesadas en atraer nuevos inversionistas con la finalidad de formalizar algún proceso de fusión, adquisición, entre otros; han transitado a esta modalidad.
El espíritu de la SAPI. es promover el capital privado y de riesgo en las empresas mexicanas a fin de impulsar un ambiente de competitividad."
https://www.elcontribuyente.mx/2019/03/que-es-una-sociedad-a...
All told then, roughly similar to a private equity firm/company.
From Javier F. Becerra, Dictionary of Mexican Legal Terminology, 2nd Ed., p. 1110:
"sociedad anónima promotora de inversión (also SAPI) - literally investment promotion corporation; conceptually, private equity firm"
"La S.A.P.I. de C.V. (Sociedad Anónima Promotora de Inversión de Capital Variable) es una sociedad mercantil (ver definición) que permite la formalización de una empresa ante la ley siendo reconocida de manera oficial y regulada por la LGSM (Ley General de sociedades Mercantiles).
El objetivo de esta sociedad es el de abrir las oportunidades a PyME’s (del tipo tecnológico) permitiéndoles recibir inversión de menor escala para su crecimiento y así generar fuentes de trabajo."
https://easylex.com/sociedad-anonima-promotora-de-inversion-...
"A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leveraged buyout, venture capital, and growth capital."
https://en.wikipedia.org/wiki/Private_equity_firm
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Note added at 4 days (2020-10-13 05:00:57 GMT)
--------------------------------------------------
In responses to Francois' criticisms of my suggested translation (which itself is simply taken from a renowned Mexican legal scholar who created one of the best bilingual legal dictionaries I've ever seen), here is a further description of what a "SAPI" is:
"El auge de las SAPI en el entorno corporativo mexicano se ha derivado en los últimos años de tres razones principalmente:
* Los fondos enfocados en impulsar o acelerar negocios en etapas tempranas han adoptado para concretar su participación, este tipo de régimen de capital.
* Simultáneamente, intermediarios financieros no bancarios como las sociedades financieras de objeto múltiple (Sofomes) se han constituido bajo esta figura jurídica.
* Y, por último, empresas interesadas en atraer nuevos inversionistas con la finalidad de formalizar algún proceso de fusión, adquisición, entre otros; han transitado a esta modalidad.
El espíritu de la SAPI. es promover el capital privado y de riesgo en las empresas mexicanas a fin de impulsar un ambiente de competitividad."
https://www.elcontribuyente.mx/2019/03/que-es-una-sociedad-a...
All told then, roughly similar to a private equity firm/company.
Peer comment(s):
| agree |
Luis M. Sosa
: Agree, without further context and references. I think the term is closely related to private equity and has nothing to do with mutual funds.
10 hrs
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Thanks, Luis, yes, that's my sense too.
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| agree |
AllegroTrans
: Agree that the Spanish should be retained - this works as an explanation in brackets but "company" and not "firm" since firm is a VERY loose term, at least where I live
16 hrs
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Thanks, Chris, although it seems to be the preferred term in the US.
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| disagree |
Francois Boye
: A private equity firm invests its funds in whatever is profitable. It does not mean that its mission is to promote SMEs investment
22 hrs
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Thank you Francois. Exactly, SAPIs invest in whatever is profitable; they don't just invest in startups and SMEs. See my addendum.
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4 KudoZ points awarded for this answer.
-1
2 days 5 hrs
Francois Boye
United States
United States
United States
An economic geek with social skills
Native in: French
Works in: English to French, French to English, Spanish to English, and 1 more.
Related KudoZ points
:
167
venture capital firm for (variable capital) SMEs
The 'SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE' is a venture capital firm helping SMEs to grow and to attract more financiers in their capital.
SMEs = Small and Middle enterprises
SMEs have a variable capital if financed by venture capital because, as they grow, they become more credible and more financiers participate in their capital to benefit for their high returns. This is the experience of Start-ups..
Venture capital is emerging as a significant source of funding for the MSMEs (Micro, Small and Medium Enterprises) in India. The SMEs in the previous times depended greatly on funds from the Banking sector for the work capital requirements and expansion of the business. However, in the recent past, the banking sector of India has refrained from funding the SMEs due to the increased risk of the NPAs (Non-Performing Assets) in this sector. The SMEs play an important role in determining the growth and development of the Indian economy and even with substantial scope for expansion and profitable projects, the MSMEs are not able to get the relevant funding for their operation and distribution.
Therefore, to provide ample funding to the MSMEs, the concept of venture capital has emerged. By venture capital, it is referred to as a way of equity funding for the expanding private companies that have been showing rapid growth and development. The venture capitalists are the professionals that are widespread in several fields. The fund provided by them to the emerging SMEs is referred to as the Venture Capital Fund which is given with an aim to yield higher returns and profits on the investment.
Benefits of Venture Capital Fund Over Other Funding Sources
The venture capital fund has several advantages and benefits over the other methods of funding to the SMEs. Here are some:
With the help of the venture capital fund, the SMEs are able to obtain long-term equity finances which offer solid capital for the future growth of the SMEs.
The venture capitalists are the business partners who share both the rewards as well as the risks. The rewards for the venture capitalists are in the form of the capital gain and the business success of the SMEs.
The venture capitalists are also responsible for providing practical and rational advice to the SMEs by assisting them in the operation and distribution based on the past experiences of the particular SME.
The venture capitalists also have a strong network of contacts in several domains and areas with the help of which the SMEs can add value to their business on various grounds like the recruitment of the key personnel, provision of contacts in the international markets, introduction to the strategic planners, and even co-investment with the other venture capital organizations when additional financing to the SMEs is required.
Several SMEs in India refrain from getting the relevant funds from the venture capitalists fearing the higher transaction costs and difficulties in exiting from such investments. However, the recent Venture Capital Funding scenario in India has changed considerably. The VCs are also expanding their reach to the different areas of the SMEs in contrast to the traditional sectors of the VC like IT (Information Technology). The Venture Capitalists have expanded their scope to the various areas of the SMEs including healthcare, clean energy, media, retail, pharmaceuticals, and several others to provide them funds at the affordable rates.
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Note added at 2 days 8 hrs (2020-10-10 23:07:13 GMT)
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Erratum:SMALL AND MEDIUM ENTERPRISES instead of 'small and middle enterprises'
SMEs = Small and Middle enterprises
SMEs have a variable capital if financed by venture capital because, as they grow, they become more credible and more financiers participate in their capital to benefit for their high returns. This is the experience of Start-ups..
Venture capital is emerging as a significant source of funding for the MSMEs (Micro, Small and Medium Enterprises) in India. The SMEs in the previous times depended greatly on funds from the Banking sector for the work capital requirements and expansion of the business. However, in the recent past, the banking sector of India has refrained from funding the SMEs due to the increased risk of the NPAs (Non-Performing Assets) in this sector. The SMEs play an important role in determining the growth and development of the Indian economy and even with substantial scope for expansion and profitable projects, the MSMEs are not able to get the relevant funding for their operation and distribution.
Therefore, to provide ample funding to the MSMEs, the concept of venture capital has emerged. By venture capital, it is referred to as a way of equity funding for the expanding private companies that have been showing rapid growth and development. The venture capitalists are the professionals that are widespread in several fields. The fund provided by them to the emerging SMEs is referred to as the Venture Capital Fund which is given with an aim to yield higher returns and profits on the investment.
Benefits of Venture Capital Fund Over Other Funding Sources
The venture capital fund has several advantages and benefits over the other methods of funding to the SMEs. Here are some:
With the help of the venture capital fund, the SMEs are able to obtain long-term equity finances which offer solid capital for the future growth of the SMEs.
The venture capitalists are the business partners who share both the rewards as well as the risks. The rewards for the venture capitalists are in the form of the capital gain and the business success of the SMEs.
The venture capitalists are also responsible for providing practical and rational advice to the SMEs by assisting them in the operation and distribution based on the past experiences of the particular SME.
The venture capitalists also have a strong network of contacts in several domains and areas with the help of which the SMEs can add value to their business on various grounds like the recruitment of the key personnel, provision of contacts in the international markets, introduction to the strategic planners, and even co-investment with the other venture capital organizations when additional financing to the SMEs is required.
Several SMEs in India refrain from getting the relevant funds from the venture capitalists fearing the higher transaction costs and difficulties in exiting from such investments. However, the recent Venture Capital Funding scenario in India has changed considerably. The VCs are also expanding their reach to the different areas of the SMEs in contrast to the traditional sectors of the VC like IT (Information Technology). The Venture Capitalists have expanded their scope to the various areas of the SMEs including healthcare, clean energy, media, retail, pharmaceuticals, and several others to provide them funds at the affordable rates.
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Note added at 2 days 8 hrs (2020-10-10 23:07:13 GMT)
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Erratum:SMALL AND MEDIUM ENTERPRISES instead of 'small and middle enterprises'
Peer comment(s):
| disagree |
Robert Carter
: No, this vehicle doesn't just cover firms providing venture capital for startups; it includes "Sofomes" and those investing in M&A. Also, it's the company itself that is under the "variable capital" modality, not the investees.
2 days 8 hrs
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What a misunderstanding! The vehicle is a venture capital firm very close to the Indian model detailed above. and this venture capital firm partners with SMES to allow then to expand their capital
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58 mins
variable capital investment promotion stock corporation
EX-21.1 - SEC.govwww.sec.gov › edgar › data
Translate this page
Concesionaria Vuela Compañía de Aviación, S.A.P.I. de C.V., a variable capital investment promotion stock corporation organized under the laws of Mexico ...
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Note added at 5 days (2020-10-13 20:59:04 GMT)
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It should be noted that this is the expansion used by the US Securities and Exchange Corporation, which is about as "official" a translation as you could hope to find.
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Note added at 5 days (2020-10-14 11:54:26 GMT)
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Securities and Exchange Commission, debería haber escrito :(
Translate this page
Concesionaria Vuela Compañía de Aviación, S.A.P.I. de C.V., a variable capital investment promotion stock corporation organized under the laws of Mexico ...
--------------------------------------------------
Note added at 5 days (2020-10-13 20:59:04 GMT)
--------------------------------------------------
It should be noted that this is the expansion used by the US Securities and Exchange Corporation, which is about as "official" a translation as you could hope to find.
--------------------------------------------------
Note added at 5 days (2020-10-14 11:54:26 GMT)
--------------------------------------------------
Securities and Exchange Commission, debería haber escrito :(
Discussion
Did you read the long document attached to my second translation? IF not, there is no point of debating anymore
I agree with you that the fundamental question is whether the SAPI vehicle is more akin to a venture capital firm than a private equity firm. For this reason, I posted an addendum to my answer, but I'll post the link here again and I'll let you read it and decide for yourself.
https://www.elcontribuyente.mx/2019/03/que-es-una-sociedad-a...
I don't guess. I know that my first translation is WRONG. I submitted a second translation based on your presentation of what a 'SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE' is.
My second translation is different from yours because, as I told you, it is not the mission of private equity firms to enlarge the capital of SMEs.
So I looked in the economic/financial literature to know whether there is an experience of enlargement of SME capital made possible by the involvement of the private sector. This is how I discover the long document attached to my translation.
I recommend that you read that document in this entirety and tell whether or not Mexico is trying to do the same thing through is SOCIEDAD ANÓNIMA PROMOTORA DE INVERSIÓN DE CAPITAL VARIABLE.
This is the core of the debate
I say this because you appear to have decided that "promotora de inversión de capital variable" absolutely must mean "promoting variable capital investment" for some reason, but that's an incorrect parsing of the phrase. For a start, "de capital variable" simply refers to the type of the company that bears this name, i.e., in the same way that a "sociedad anónima de capital variable" means the "sociedad anónima" has "capital variable." The "SAPI de CV" is not a "joint-stock company that promotes variable capital investment" but rather a "variable-capital joint-stock company that promotes investment".
Moreover, the fact that they can promote investment in startups doesn't mean they're limited to that only. On the contrary, they can also promote mergers and acquisitions or provide limited-scope banking services, e.g., without the ability to receive deposits. In fact, this type of vehicle is quite flexible and is designed to encourage financial innovation.