Latin American Private Capital Update - July 7, 2020Latin American Private Capital Update July 7, 2020 | | | The LAVCA Private Capital Update is a bi-weekly email featuring industry news, research, events, and updates on investors from private equity, venture capital, real estate, infrastructure, and family offices in Latin America. |
| LAVCA recently spoke with Vinci Partners Co-founding Partner and CEO Alessandro Horta about the current environment for private capital investment in Brazil:
While our investment thesis remains intact, we are leveraging this environment to negotiate better investment structures and valuations.
Horta also shares how Vinci is supporting portfolio companies in 2020 in light of decreases in demand and temporary disruption in operations within certain sectors, as well as details a recent exit of diagnostics company Diagmax via a sale to Fleury Group. When asked about real estate and infrastructure opportunities in Brazil, Horta noted:
Brazilian infrastructure is underinvested and precarious, leading to relevant and recurrent investment demand, and the current administration has an extensive agenda of privatizations, making this an opportunistic time for the region. The dependence on the private sector will further increase given the lack of investment capacity of the government, and the dire fiscal situation of the country indicates that this should continue making Brazilian infrastructure even more reliant on private sector capital.
READ the full member profile. | | |
| LAVCA in collaboration with CFA Society New York, CFA Institute, and CAIA Association, invites members to a private webinar interview conducted by LAVCA's CEO, Ivonne Cuello, with CIO of Principal Financial Group México, Juan Veron, on July 13th, at 12:00pm EDT.
The discussion will focus on Afore Principal's perspective, including exposure to alternative investments locally and internationally, and Mexico's macroeconomic outlook.
The webinar is part of the Asset Owner Series™ (AOS), which is a collection of in-person and virtual events from CFA Society New York. For more information about this series, please click here.
LAVCA Members interested in attending virtually, please contact LAVCA (contact@lavca.org).
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| LAVCA Board member Rodolfo Spielmann, Managing Director and Head of Latin America at Canada Pension Plan Investment Board (CPPIB), recently shared insights about partnerships with family-controlled businesses as a model for successful long-term investing.
According to CPPIB's analysis, 43% of the largest companies in Latin America are either controlled by a family or a group linked to the founders, indicating that strong governance, stable shareholders, and long-term value creation strategies associated with family-controlled businesses correlate with companies that outperform their indices.
READ the full article. | | |
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Private Equity News
General Atlantic to Exit XP via Secondary Share Offering of US$1b (Reuters) General Atlantic and XP Controle Participações, the founding holding company, have filed for a secondary share offering of US$1b for up to 22.4m shares on Nasdaq. Read more
Vinci-Backed Vero Internet Acquires MKA Telecom (em português) (Valor Econômico) Vinci Partners-backed Vero Internet has acquired Brazil-based internet provider MKA Telecom for an undisclosed amount. Read more
TreeCorp Investimentos Invests R$100m in Pet Marketplace Zee.Dog (em português) (Brazil Journal) TreeCorp Investimentos invested R$100m in Zee.Dog, a Brazilian marketplace for pet goods. Zee.Dog has plans for international expansion to Seattle and New York in the coming months. Read more
Public Investment Fund (PIF) Invests in Two Pátria Funds (Valor Econômico) Public Investment Fund (PIF) of Saudi Arabia invested in two Pátria Investimentos funds. Commitment amounts were undisclosed. Read more
BNDES to Invest R$300m in ACON’s ALAOF Fund (em português) (Globo) BNDES will invest R$300m in the ACON Latin America Opportunities Fund (ALAOF). The vehicle is targeting up to R$1.2b from financial institutions, including other development banks, to invest in Brazilian mid-sized companies. Read more
IFC and Australis to Invest US$15m in Colombian Retailer Reve Group (Press Release) IFC and Australis Partners will invest up to US$15m in Reve Group, a Latin American retail and consumer foodservice company operating in Colombia, Panama, and Chile. Australis invested previously in 2018 and 2019. Read more
TreeCorp Invests R$60m in Cabana Burger (WSJ) TreeCorp Investimentos acquired a controlling stake in Brazil-based food chain Cabana Burger Restaurante e Lanchonete for R$60m. Read more
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Venture Capital News
Canary, KaszeK Ventures, and MAYA Capital Invest US$16m in Alice (Press Release) Canary, KaszeK Ventures, and MAYA Capital invested US$16m in Alice, a Brazilian healthcare provider. Read more
Accial Capital Leads a US$21m Debt Round in Mexican Fintech ePesos (Press Release) Private debt investor Accial Capital led a US$21m debt round in ePesos, a Mexican fintech providing payroll advances. Read more
General Atlantic and e.Bricks Ventures Lead a R$40m Series B in Telemedicine Startup Conexa Saúde (Contxto) General Atlantic and e.Bricks Ventures led a R$40m Series B in Conexa Saúde, a Brazilian telemedicine marketplace, with participation from Luiz Fraga of Gavea Investimentos. Read more
Mountain Nazca and Foundation Capital Lead a US$12m Bridge Round in Grocery Delivery Startup Jüsto (Press Release) Mountain Nazca and Foundation Capital led a US$12m follow-on investment in Jüsto, a Mexico-based grocery delivery startup founded by Cabify alum Ricardo Weber, with participation from FEMSA Ventures, H20 Capital, SV Latam, and S7V. Read more
IDB Lab Invests an Undisclosed Amount in DILA Capital’s DILA IV Fund (Press Release) IDB Lab announced an undisclosed investment in DILA Capital’s DILA IV Fund. The fund aims to invest in 21 to 25 companies across Latin America, including less developed VC markets such as Central America, Ecuador, Bolivia, and Paraguay. Read more
Banco BV Leads a R$15m Series A in Used Car Marketplace Carflix (Contxto) Banco BV led a R$15m Series A in Carflix, a Brazilian used car marketplace focused on regional transactions. Read more
IDB Lab Invests in 500 Startups’ Luchadores III Fund (Contxto) IDB Lab announced it will be investing an undisclosed amount in 500 Luchadores III, a fund managed by 500 Startups LatAm. The fund intends to support up to 130 Latin American startups at the seed stage. Read more
Apex Partners Invests R$8m in Brazilian Influencer Marketing Platform Spark (em português) (Exame) Apex Partners led a R$8m round in Spark, a Brazilian influencer marketing platform. The round comes after founders Raphael Pinho, Marcus Buaiz, and Rafael Coca repurchased their shares from Colombian marketing group Fluvip, which had initially acquired a stake in Spark in 2016. Read more
HDI Seguros Invests R$27m in Internet Provider Zoox (em português) (Fusões & Aquisições) Chilean insurance conglomerate HDI Seguros made a R$27m follow-on investment in Zoox, a Brazilian hotel and public space internet provider. Read more
QED and LEAP Invest US$3m in Mexican HRtech Worky (Contxto) QED Investors and LEAP Global Partners invested US$3m in Worky, a Mexican HRtech automatization platform. Read more
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Real Assets News
TPG Acquires Solar Projects in Spain, Chile, Colombia, and Mexico (en español) (Energías Renovables) TPG’s The Rise Fund acquired China-based photovoltaics producer Trina Solar’s assets in Spain, Chile, Colombia, and Mexico totaling 1GW. The assets will be managed by Matrix Renewables, a newly launched renewable energy platform. Read more
TC Latin America Partners Acquires Peru-Based Centro Empresarial Juan de Arona (Leaders League) Private Equity Firm TC Latin America Partners acquired Peru-based office complex Centro Empresarial Juan de Arona (CEJA). The amount of the transaction was undisclosed. Read more
Thyssenkrupp Marine Systems to Acquire Oceana Shipyard in Brazil (em português) (Poder Naval) German naval company Thyssenkrupp Marine Systems will buy the shipyard Oceana, owned by Grupo CBO. Vinci Partners and Patria Investimentos are shareholders of Grupo CBO. The transaction is subject to approval, and no financial details have been disclosed. Read more
Riverstone Raises MXN$662m via CKD for Energy Investments in Mexico (Latin Finance) Riverstone raised MXN$662m on the Mexican Stock Exchange (BMV) for energy investments in Mexico. The CKD was launched in 2017 for MXN$8b. Read more
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Catalina Santos. |
The Association for Private Capital
Investment in Latin America
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