1H 2024 VC Live Update; See you in São Paulo

LATAM VENTURE BULLETIN

A must-read roundup of startup deals and news on emerging technologies in Latin America, delivered to over 7,000 investors, entrepreneurs and corporates bi-weekly.

1 August 2024

The LatAm Venture Bulletin is produced by Carlos Ramos de la Vega, LAVCA’s Director of Venture Capital.

1H 2024 VC Trends in Latin America

Following the upcoming launch of LAVCA’s 1H 2024 Startup Directory & Ecosystem Insights, LAVCA and SVB look forward to hosting an online discussion on VC/Tech Mid-Year Trends for Latin America on 21 August at 9am PT / 12pm ET.

We’ll go over current investment dynamics by stage, the role of growth capital and corporate investment, as well as fundraising for women-led startups and serial founders, followed by a panel discussion with Rodrigo Baer of Upload Ventures, Jimena Pardo of Hi Ventures, Rafa de Haro of COMETA, moderated by Andy Tsao and Nicolas Toro of SVB.

Stay tuned for opening registration early next week.

LAVCA Tech Brasil

We look forward to seeing venture investors on 21 August in São Paulo for this year’s meeting.

Featured speakers include:

The program will include a series of breakout sessions led by LAVCA member firms including StepStone, Astella Investments and DGF.

Members are welcome to join us for a member-only dinner right after the program.

Stay tuned for additional program details in the coming weeks. Contact Marcelo Pizzato mpizzato@lavca.org with questions.

LAVCA Tech Brasil 2024 is made possible with support from LAVCA’s Tech Growth Members. Special thanks to Google for hosting, along with AWS, Qualcomm Ventures, MercadoLibre, Riverwood Capital and SVB, for their continued partnership.

Deals

▸ DEBT | Digitt, a Mexico-based credit card debt refinancing platform, secured a USD50m debt facility from CoVenture Management.

▸ IGNIA Partners and Alaya Capital co-led a USD12m round for Escala, a Colombia-based sales lead generation platform for Hispanic SMEs, with participation from High Alpha and undisclosed investors.

▸ HEALTHTECH | Sierra Ventures led a USD10m round for Eden, a Mexican AI-based medical diagnostics platform, with participation from KASZEK, YC, Khosla Ventures and Alt Capital.

▸ Accion invested USD10m in Los Andes, a Peruvian rural microfinance company.

▸ KASZEK and Alexia Ventures co-led an undisclosed Series A for Winnin, a Brazil-based marketing analytics platform.

▸ LOGISTICS | Indicator Capital and Invisto.com co-led a USD3m round for CTA Smart, a Brazilian fuel fulfillment and management platform for company fleets.

▸ Tompkins Ventures co-led a ~USD6.2m round for Strm, a Brazil-based platform for independent musicians and artists.

▸ FOODTECH | Nutri Co, a Peruvian plant-based food startup, raised a USD2m round from Terraflos Inc.

▸ PROPTECH | Clube FII, a Brazilian real estate crowdfunding platform, raised ~USD1.8m from L4 Venture Builder and Grupo Travessia.

▸ PROPTECH | Mell.ro, a Brazilian residential rental payments platform, raised ~USD900k from G2 Venture Partners, Parceiro Ventures, GVAngels, Anjos do Brasil, Aimorés Investimentos and undisclosed angels.

▸ CVC | Globant Ventures invested in Asteroid Technologies, an Argentine software of accessible software for consumers with hearing impairments.

▸ Popular Power, a Mexico-based management platform for solar companies, raised a USD875k pre-seed round with participation from Amplifica Capital, Cerulean.vc, 0bs.mx, Dunn Family Impact Capital and Mercy Corps Ventures.

▸ Delivery Much, a Brazilian franchise network for delivery apps, raised ~USD715k in media for equity from Nexpon, the CVC arm of NSC Comunicação.

▸ AGTECH | Aimorés and Incubate Fund co-led a USD420k round for Meu Pescado, a Brazilian marketplace for farmed fish.

▸ Relif, a Chile-based financial health management startup, raised a USD400k round with participation from ChileGlobal Angels.

▸ ANGEL | BR Angels led a ~USD700k round for Destrava Aí, a Brazilian credit receivables management startup.

Funds

▸ CVC | Credit Saison, one of the largest consumer credit platforms in Japan, committed USD200m to invest in Latin American funds and startups through its CVC arm, Saison Capital.

▸ M&A | Brazil-based TM3 Capital and CTM Investimentos merged in the latest GP consolidation move in the industry.

People & Programs

▸ Alaya Capital is hosting an investment readiness bootcamp for early-stage startups with a viable MVP and relevant operations in Peru. The deadline for founder applications is 4 August.

▸ CLIMATE | ChileGlobal Ventures partnered with IDB Lab and CORFO to launch Decarb-volution, an acceleration program for early-stage Chilean startups developing

decarbonization and climate solutions. Interested founders are welcome to apply.

▸ AI | Grão VC is partnering with AWS and Stripe to conduct a survey on the impact of GenAI in Latin America with investors, corporates and founders. The survey is now open.

▸ Quona Capital is looking for an Analyst to join its investment team in Mexico City. Interested candidates are welcome to apply.

▸ Antler Brasil opened registrations for the fifth edition of its 10-week residency and startup incubation program for September 2024.

▸ REGISTER NOW | LAVCA will be hosting LAVCA Week on 8-11 October in New York. Registration is now open for LAVCA Members.

Global Tech

▸ Sign up for GPCA’s Global Tech Brief, a monthly newsletter that covers tech activity in Asia, Latin America, Africa, CEE and the Middle East.

LAVCA is now part of GPCA, the Global Private Capital Association, and will continue to operate as a parallel membership organization with its own dedicated team and board.