Latin American Private Capital Update - September 1, 2020Latin American Private Capital Update September 1, 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. |
| The small investor group breakouts have reached capacity for LAVCA Week 2020 and are now closed. Registered participants will receive information about breakout assignments and details in the next 7-10 days.
Fund managers, institutional investors, DFIs, family offices, and others are still able to register for the main stage keynotes and investor networking planned for this year's virtual meeting taking place September 14-17, 2020. The deadline to confirm participation is September 8.
Access the agenda-at-a-glance and featured speakers (topics and timing subject to change).
This year’s program will be a fully immersive experience with timely content, unique keynotes, panels, discussions, and interactive networking opportunities.
LAVCA member GPs receive a discounted registration rate and will gain access to premium LP-GP introductions. REGISTER
Access more information on lavcaweek.org or contact LAVCA with any questions. | | |
| WATCH the latest Americas Society/Council of the Americas leadership event, Improving Women's Access to Finance for a Post-COVID Recovery which features commentary from: >> Marta Lucía Ramírez, Vice President of Colombia
>> Reina Irene Mejía, CEO of Citi Honduras
>> Susana García-Robles, Executive Advisor to LAVCA
>> Roberto Simon, Senior Director for Policy, AS/COA (moderator)
Women in private capital are also invited to participate in LAVCA's annual investor meeting, taking place virtually on September 14-17. NEW this year, participating women are also invited to connect with peers in our industry for a dedicated private meeting on September 14: Game Changers: Women in Private Capital with Susana Garcia-Robles, LAVCA; Sofia Garrido, General Atlantic; Lina Pena, Elevar Equity; and Laila Choe, IDB Lab.
September 14, 5:00pm - 6:30pm EDT | RSVP Here
DISCOUNT In order to promote diversity at LAVCA Week 2020, we have created, with the support of our partner IDB Lab, a special 50% discount code for women qualified to participate, including fund managers, DFIs, family offices, sovereign wealth funds, pension funds, and invited startup founders and CEOs. Contact Carlos Ramos for more information.
NOMINATE As a reminder, we are always on the lookout for female investment professionals to highlight across our programs and content and would welcome you to nominate female partners, associates, principals, and angels on your radar by filling out this brief nomination form.
We also encourage you to SAVE THE DATE for WeXchange 2020, taking place virtually November 10-12. WeXchange is a forum that connects Latin American and Caribbean STEM-based women entrepreneurs with investors and mentors.
Access LAVCA's annual directories of Top Women and Emerging Women investing in LatAm tech and lavca.org/women for resources and information about gender diversity in the region. | | |
| At a time when many institutional investors are taking a more conservative approach to committing capital globally, DFIs play a critical role as LPs in Latin American and emerging markets private equity funds.
This practical training program for GPs, hosted by EMPEA and supported by LAVCA on September 23 at 8:30AM EDT, will look inside the process for securing commitments from DFIs and preparing fund managers with a step-by-step approach.
Dedicated time will allow for interactive participation and questions from attendees.
Part I: Navigating the DFC’s New Equity Financing Process
This module will include an in-depth conversation with the U.S. International Development Finance Corporation (DFC) on their new equity program, including program size and objectives, eligibility, and preferred economic or governance terms.
Part II: How DFIs Co-Invest with GPs
This module will address the conditions and processes required from different DFIs in order to co-invest with fund managers.
Speakers will include representatives from Debevoise & Plimpton, DFC, DEG, EIB, and FMO.
LAVCA GP members receive complimentary registration. Register here and select "Other" under registration type. Contact kennedyk@empea.net with any questions. | | |
| DOWNLOAD LAVCA's 2020 Latin American Startup Directory which profiles 126 startups that raised at least US$1m in verified financing in 2019, a year of record venture investment in the region, with US$4.6b deployed.
The 2020 Startup Directory includes 51 startups that raised US$1m+ prior to 2019 and that raised a follow-on round of at least US$1m (and up to US$1b) in 2019, including, notably, unicorns Gympass, Loft, Loggi, Nubank, Quinto Andar, Rappi, and Wildlife Studios, as well as an additional 75 new startups that raised at least US$1m in VC funding in 2019 alone.
LAVCA also spoke directly with the CEOs of 74 of these startups to understand how they’re navigating 2020 year to date, in business terms as well as contributing to relief efforts in their markets of operation.
ACCESS LAVCA’s 2020 Latin American Startup Directory.
The Latin American Startup Directory is made possible with support from the Latin American Tech Growth Coalition, IDB Lab, and iNNpulsa. | | |
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Private Equity News
L Catterton Announces US$150m Private Placement for NYSE-Listed Despegar.com (Press Release) L Catterton has announced a private placement investment of US$150m in NYSE-listed Despegar.com, an online travel agency in Latin America. The investment is expected to close in September 2020 and is subject to customary closing conditions. The travel company began trading on the NYSE in 2017. Read more
IDB to Invest up to US$30m in Kandeo 3D Fund (Press Release) IDB Invest has agreed to invest up to US$30m in Kandeo 3D, a private debt fund managed by Kandeo Investment Advisors that will provide financing to mid-sized companies in Mexico, Colombia, and Peru. Read more
Crescera to Invest R$305m in Brazilian Funeral Services Provider Grupo Zelo (em português) (Brazil Journal) Crescera Capital has agreed to invest up to R$305m in Brazil-based funeral services provider Grupo Zelo. Read more
Pátria Private Equity VI Acquires 20% Stake in Ultra (Nasdaq) Blackstone-backed Pátria, through its Private Equity VI fund, has acquired a 20% stake in Ultra SA, a Brazil-based conglomerate operating in sectors ranging from fuel distribution and specialty chemicals production to pharmacies. Read more
ACON Investments Acquires Sola de Antequera (Press Release) ACON Investments has completed the acquisition of a majority stake in Sola de Antequera SA, a producer, processor, and distributor of premium preserved and canned vegetables. The amount of the transaction was undisclosed. Read more
Waha Capital to Invest US$50m in Argentine Traveltech Despegar.com (Press Release) Waha Capital has agreed to invest US$50m in Argentina-based online travel company Despegar.com via a private placement. Read more
Jive Increases Stake in Viver Incorporadora by 5.81% (em português) (Money Times) Jive Investments increased its stake in Brazilian real state company Viver Incorporadora (VIVR3) by 5.81% (~R$51.8m). In 2018, Jive became the company's main shareholder via an exit from Paladin Prime Residential Investors. Read more
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Venture Capital News
Insight Partners Leads US$118m Series B in MURAL (Press Release) Insight Partners led a US$118m Series B in MURAL, a US-based visual collaboration software enterprise platform with operations in Argentina, with participation from Tiger Global, Slack Fund, and World Innovation Lab, and follow-on from Gradient Ventures. Read more
Finsocial Raises US$20m in Debt Financing from Swiss Impact Fund Symbiotics (Contxto) Swiss impact fund Symbiotics provided US$20m in debt financing to Finsocial, a Colombian consumer lending platform for teachers and pensioners. Read more
SP Ventures Reaches US$17.2m First Close for Latin American Agfoodtech Fund (AgFunderNews) SP Ventures reached a US$17.2m first close for its Latin America-focused agfoodtech fund. Read more
B Capital Group Leads US$15m Round in Yalochat (TechCrunch) B Capital Group led a US$15m Series B in Yalochat, a Mexican conversational customer service management platform that runs on WhatsApp and Facebook Messenger, with participation from Sierra Ventures. Read more
Gradient Ventures Leads US$14m Series A in Mexican Challenger Bank Fondeadora (TechCrunch) Gradient Ventures led a US$14m Series A in Fondeadora, a Mexican open banking platform co-founded by Norman Muller and Rene Serrano in 2011, with participation from Fintech Collective, Sound Ventures, and Y Combinator, and follow-on from IGNIA Partners. Read more
Felicis Ventures Leads US$12m Series A in Financial Advisor Platform Origin (em português) (Startupi) Felicis Ventures led a US$12m Series A in Origin, a US-based financial advisor platform for company employees co-founded by the Brazilian João de Paula, former founder of Brazilain e-commerce platform Glio. Read more
Accial Capital Invests US$10m in Debt Financing in Aflore (Press Release) Accial Capital has invested US$10m in debt financing in Aflore, a Colombian lending platform focused on microentrepreneurs and the underbanked. Read more
Inspired Capital Leads US$10m Series A in Colombian Proptech Habi (TechCrunch) Inspired Capital led a US$10m Series A in Habi, a Colombian proptech employing the iBuyer model for middle-class residential real estate, with participation from 8VC, Clocktower, and Vine Ventures, and follow-on from Homebrew and Zigg Capital. Read more
Redpoint eventures Leads US$5m Round in Computer Vision CyberLabs (Contxto) Redpoint eventures led a US$5m round in CyberLabs, a Brazilian computer vision and voice recognition technology developer founded by Movile Co-Founder Marcelo Sales. Read more
DOMO Invests R$10m in 100 Open Startups (em português) (Fusões & Aquisições) DOMO Invest invested R$10m in 100 Open Startups, a Brazilian open innovation platform connecting corporate and early-stage startups. Read more
Astella Investimentos Leads US$1.6m Round in Consumer Insights Platform Birdie (Press Release) Astella Investimentos led a US$1.6m round in Birdie, a Brazilian data analytics and market research platform for consumer packaged goods (CPG) brands. Read more
Good Growth Capital Leads US$1.2m Seed Round In Civic Engagement Platform Irys (Contxto) US-based VC fund Good Growth Capital led a US$1.2m seed round in Irys, a Mexican platform for civic engagement with local governments, with participation from Arcadis, Techstars Ventures, and City Rise Ventures. Read more
Endurance Investments and NOA Capital Invest US$1m in The Live Green Co. (Contxto) Chilean VC fund Endurance Investments and Mexico’s NOA Capital invested US$1m in The Live Green Co, a Chilean foodtech developing plant-based alternatives to replace animal-based products. Read more
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Real Assets News
Pátria’s Infrastructure Fund IV Raises R$10b (Reuters) Pátria Investimentos has reached a R$10b final close for its Infrastructure Fund IV. The fund will target investments in infrastructure, with a focus on logistics, energy, and telecoms, across Latin America. Read more
Peninsula Investments Group Closes Fourth Real Estate Latin American Fund for US$150m (Press Release) Peninsula Investments Group closed fourth real estate Latin American Fund, Peninsula LatAm IV, for US$150m. The fund will provide equity and debt financing to projects targeting growing middle class and real estate opportunities under distress. Read more
I Squared Capital to Exit Orazul Energy Perú via Strategic Sale to ISA for US$158.5m (Press Release) I Squared Capital has exited Orazul Energy Perú, owner of companies Etenorte and Eteselva, which operate six transmission lines in Peru, via a US$158.5m sale to ISA Group. Read more
Mubadala and Magni Partners Receive Approval from CADE to Acquire Drilling Rigs (em português) (Valor Econômico) Mubadala Investment Company and Magni Partners received approval from CADE to acquire four drilling rigs from Sete Brasil. 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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New York, NY 10018
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