Small- and mid-cap-focused private equity fund manager Aureos Capital has invested US$10 million in Investigación Farmacológica y Biofarmacéutica (IFaB), a Mexico-based provider of outsourced research and development services to the pharmaceutical and biotechnology sectors, via the Aureos Latin America Fund (ALAF). IFaB will use the proceeds to purchase new analytical equipment and grow its medical and research teams.