Provicapital Partners, a US-based investment banking and advisory firm, has opened its second and principal office in Medellin, Colombia.

Provicapital has been active since 2005 in Colombia. The launch of new office is part of the firm’s strategy to boost its footprint in Latin America where it already has offices in Mexico, Ecuador and Peru.

Ricardo Calderon, partner and managing director of Provicapital Partners, said: "In the last few years, Colombia has had impressive levels of economic growth and prosperity, a trend we expect to continue and which is reflected in the increased demand for our services.

"As the country continues to develop its core and industrial infrastructure to compete in today’s global environment, Provicapital is poised and committed to providing investment banking support to help our client’s access the capital needed to finance these efforts," he added.

As a country with an abundance of natural resources and an industrious population of over 47 million, Colombia has had large inflows of foreign direct investment (FDI), especially in the hydrocarbon sector that is expected to continue growing and developing.