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After launching Linden Equity Partners with Andrés de Villasante Garza in 2021, a SF that unfortunately did not find the right acquisition, Francisco Elosua has returned to the industry, this time independently, with the establishment of Felto Capital. This is a single-sponsored SF for the search phase, with family office Felport Capital as its sole sponsor, committing up to 40% of the required equity for an acquisition. This structure aligns Felto Capital’s compensation with the traditional SF model, creating a more institutional and investor-friendly process.
With a background in entrepreneurial leadership and investment strategy, Francisco began his career by co-founding Delaunay Advisory Services, a boutique consultancy offering financial and strategic advice to SMEs. He then spent four and a half years at Cemex, a global leader in building materials, where he led process optimization and data analysis projects across 12 countries. He was first introduced to the SF model in 2016 while completing his Master’s in Finance at EGADE Business School. In 2019, he chose to pursue the ETA path during his MBA at IESE Business School. After interning with Maple Capital, Sotavento Capital, and Aguafría (a SF acquired company), he launched his own fund, Linden Equity Partners, an experience that honed his skills in sourcing, evaluating, and negotiating acquisitions in dynamic industries. After a brief tenure as Managing Director of Felport Capital, where he established the boutique family office, he is now launching Felto Capital.
Felto Capital aims to acquire and operate companies with high growth potential and long-term sustainability, focusing its search in Mexico and the United States. Target companies should have at least US$10M in turnover and an EBITDA margin above 15% over the past three years, with a high proportion of predictable revenue and stable cash flows, ideally secured through long-term contracts or relationships.
