| | | 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. |
| | | | Private Equity News
L Catterton Invests in Argentina's Grupo de Narváez to Expand Rapsodia in the Region...
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| | Real Estate News
Thor Urbana Invests US$1.4b in Real Estate in Mexico and Belize... |
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| Trocafone is closing the digital gap in Brazil by making smartphones more affordable. Powering trade-in programs for major carriers and manufacturers like Samsung, LG, Apple, and Movistar and selling refurbished devices on Trocafone.com, the startup expects to buy and sell over 300,000 devices in 2017.
Trocafone has raised over US$10m from a strong syndicate of local and international investors including Telefonica OpenFuture_’s accelerator Wayra, Quasar Builders, NXTP Labs, South Ventures, Lumia Capital, and 500 Startups.
In this interview with Trocafone co-founder and CEO Guille Freire, LAVCA explores the smartphone explosion in Latin America, Trocafone’s traction with investors, and expansion plans in the region. | | |
| LAVCA welcomes 17 new member firms to the association including:
FULL MEMBERS Bossa Nova Investimentos Capital Indigo El Coique Investments (Grupo GTD) Elevar Equity Enfoca Grupo Pegasus Jaguar Growth Partners Jive Investments MassChallenge Mexico Pronos Investments Scotiabank Private Equity UTIMCO ASSOCIATE MEMBERS: Cleary Gottlieb Steen & Hamilton Foley & Lardner Investa Capital Partners Marsh Inc. Woodbridge Capital Partners
As a non-profit association, Member participation and support is invaluable to the organization's success. A full list of LAVCA's Members is available here. For more information on becoming a member, visit LAVCA's website. | | |
| LAVCA Member investment firms and LPs are invited to attend the Latin American Panel and Awards Luncheon during the PEI/PRI Responsible Investment Forum in New York on March 7, 2017. Join LAVCA President Cate Ambrose for a panel discussion on Responsible Investment in Latin America, including: Deal cases: practical examples of managing ESG-related issues at the portfolio company level LP perspective: how do Latin American fund managers measure up in terms of ESG practices at the fund level Managing risks where corruption is a consideration Following the panel, LAVCA and EY will announce the Latin American PE Award Winners, an important initiative to help bring recognition to fund managers with successful deal cases in Latin America. LAVCA Member firms submitted cases in 2016, featured in the third edition of the Latin American Private Equity Deal Book & ESG Cases. Following the panel and award announcement, attendees will also be invited to participate in a networking luncheon. Space is limited. LAVCA Member investment firms and LPs must RSVP before February 24, 2017. Contact lgalamba@lavca.org to see if you qualify to attend. | | |
| Following the success of VC in NY in 2016, LAVCA will host a similar two-day immersion program for early stage venture investors from Latin America in the Bay Area on April 3-4, 2017. In partnership with Omidyar Network, Telefonica Open Future_, and Silicon Valley Bank, VC in the Bay invites early stage venture investors from across Latin America to engage with key players in the Bay Area’s venture community.
Confirmed guests include: David Ulevitch, Founder, OpenDNS (sold to Cisco for US$635m) Elizabeth "Beezer" Clarkson, Managing Director, Sapphire Ventures Reshma Sohoni, Founding Partner, Seedcamp Anjula Acharia, Partner, Trinity Ventures Lee Jacobs, Partner, AngelList Shawn Merani, Partner, Flight.vc Brian Requarth, Founder & Chairman, VivaReal Dan Green, Partner, Gunderson Dettmer Contact lgalamba@lavca.org or jruvolo@lavca.org for a copy of the agenda or to see if you qualify. | | |
| SAVE THE DATE for the annual gathering of members and industry thought leaders during LAVCA WEEK, September 25 - 28, 2017 in New York City.
The LAVCA Summit & Investor Roundtable (PE program) will be held at the Metropolitan Club. The LAVCA Venture Investors NY Summit will take place at Tribeca 360.
Download the LAVCA Summit HIGHLIGHTS Book to learn more about last year's program.
To view the LAVCA 2017 program calendar, click here. (Additional programs to be announced. Event calendar subject to change.) | | |
| LAVCA Members and LPs active or interested in Mexico are invited to attend the 12th Annual AMEXCAP Private Equity Summit on Thursday, March 30th.
AMEXCAP in collaboration with LAVCA, Fondo de Fondos, ColCapital, Procapitales, ARCAP, and Mexico Ventures, are also inviting LPs to attend a LATAM FOCUS: LP Only Conference on Wednesday, March 29th. Qualified LPs can contact smargalef@amexcap.com for more information or to RSVP.
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Private Equity News
L Catterton Invests in Argentina's Grupo de Narváez to Expand Rapsodia in the Region (en español) (El Cronista) L Catterton made its debut investment in Argentina after investing in Grupo de Narváez's clothing brand Rapsodia for an undisclosed amount. Read more
FIRSTavenue Adds Fabiana Cid de Andrade to the Global Team (Press Release) LAVCA Senior Advisor Fabiana Cid de Andrade, has joined FIRSTavenue as Principal for the Southeast United States and Latin America. Read more
Nexxus Capital Invests in Translatum Holding (en español) (Press Release) Nexxus Capital made an undisclosed investment in Translatum Holding to develop fintech platforms such as money remittance systems in Mexico. Read more
CPPIB to Expand Brazil Team and Focus on Infrastructure (em português) (Investidor Institucional) CPPIB announced its plans to increase the number of team members in the firm’s Brazil office with the goal of expanding equity and infrastructure investments. Read more
Brazil’s PetroRio Acquires Controlling Stake in Brasoil from FIP Brascan (em português) (Dinheiro) PetroRio has completed the purchase of a 29.2% stake in Brazilian petroleum firm Brasoil from Fundo Brascan de Petróleo, Gás e Energia (FIP Brascan) for an undisclosed amount. Read more
Gávea Investimentos Exits Hermes Pardini via IPO (em português) (Brazil Journal) Gávea Investimentos exited Hermes Pardini, a Brazilian laboratory, after the company priced its IPO at R$19 per share. Read more
Aqua Capital Raises Close to US$300m for South American Agribusiness Fund (WSJ) Brazilian private equity firm Aqua Capital has raised close to US$300m for its second fund which will target South American agribusiness. Read more
BlackRock Acquires First Reserve’s Mexican assets (Press Release) BlackRock will assume ownership of First Reserve’s three energy assets in Mexico as part of an agreement to acquire the US private equity firm’s energy infrastructure portfolio for an undisclosed amount. Read more |
Venture Capital News
IFC Leads R$60m Series B in Creditas (formerly BankFacil) (em português) (Startupi) The International Finance Corporation (IFC) led a R$60m Series B in Creditas, formerly BankFacil. Naspers also participated in the round, making its first finech investment in Latin America. Read more
Omidyar Network Invests US$2.9m in ALTEC Fund to Scale Civic Tech Platforms in Latin America (Press Release) Omidyar Network, Fundación Avina, and Avina Americas launched a US$3.5m fund, the Latin American Alliance for Civic Technology (ALTEC), to develop civic technology platforms throughout Latin America. Read more
ALLVP Makes Follow-On Investment in Mexican Solar Power Provider Enlight (Press Release) ALLVP made an undisclosed Series B follow-on in Mexican residential solar energy company, Enlight. Read more
Accion Venture Lab Exits Clip (Press Release) Accion Venture Lab sold its stake in Mexican payment solutions startup, Clip, to an undisclosed buyer. Read more
Santander to Foster Tech Ventures in Brazil (ZDNet) Santander Bank has launched Radar Santander to provide mentoring and networking to five startups in the development phase. Read more
KaszeK Ventures Invests in Digital House Coding School (Press Release) KaszeK Ventures invested an undisclosed amount in Digital House, a Buenos Aires based coding school designed to train technology professionals in Latin America. Read more
Redpoint eventures Invests Series A in Pismo (em português) (Baguete) Redpoint eventures made an undisclosed Series A in Brazilian electronic payment processor and SaaS company, Pismo. Read more
Rise Capital, FJ Labs, and Lumia Capital Invest US$10m in InstaCarro (New York Times) Rise Capital joined existing investors FJ Labs and Lumia Capital in a US$10m investment in São Paulo based InstaCarro, an online platform for selling automobiles. Read more
Cventures Primus Invests R$2.5m in Asaas (em português) (Baguete) Brazilian SaaS company and B2C service provider Asaas, received an investment of R$2.5m led by Cventures Primus. Read more |
Real Estate News
Thor Urbana Invests US$1.4b in Real Estate in Mexico and Belize (en español) (El Universal) Thor Urbana announced it will invest US$1.4b over the next three years in 13 real estate developments throughout Mexico and one in Belize. Read more
Grupo IGS sells Mexican Real Estate Portfolio for ~US$84m (en español) (Press Release) Grupo IGS has completed the sale of one of its real estate portfolios, which included buildings located in Tijuana, Irapuato, and Nuevo Nogales, for approximately US$84m. Read more
Greystar to Launch its first Mexican Real Estate CKD (Press Release) Greystar is preparing to list a new CKD on Mexico’s BMV to fund Mexican real estate projects. The fund will target up to MXN$4b. Read more
Hines to Invest R$600m in Brazilian Real Estate (em português) (Valor Econômico) American real estate investment, development and management firm Hines has agreed to invest approximately R$600m in four projects to be developed by Brazil's Vitacon. Read more
Jaguar’s Aliansce Increases Stake in Two Brazilian Shopping Malls (em português) (BOL Notícias) Jaguar Growth Partners’ portfolio company, Aliansce, reached an agreement to purchase stakes in two shopping malls located in Belém, Brazil. The acquisition will increase the company’s stake in Boulevard Shopping Belém to 79.99% and its stake in Parque Shopping Belém to 75%. Read more
GTIS Raises Over US$257m for Brazilian Real Estate Fund (Alt Assets) New York based GTIS Partners has raised more than US$257m from 24 limited partners for its latest Brazilian real estate fund. Read more
HSI to Buy up to R$1.5b in Assets (em portugues) (Valor Econômico) Private equity real estate firm Hemisfério Sul Investimentos (HSI) plans to acquire between R$1b and R$1.5b worth of assets in 2017. Read more
Pátria Investimentos and Sam Zell to Combine Self-Storage Business in Brazil (em português) (Exame) Real estate tycoon Sam Zell and Pátria Investimentos agreed to combine their self-storage businesses in Brazil into a joint venture, with the goal of more than doubling capacity by 2020. Read more |
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| | 2017 Columbia Business School PE+VC Conference
Hosted by Columbia | March 3, 2017 | New York, NY | | | | | 2017 Stern Venture Capital and Private Equity Conference
Hosted by NYU Stern | March 3, 2017 | New York, NY | | | | | PEI/PRI Responsible Investment Forum | Latin American Panel & Awards Luncheon
Hosted by PEI, PRI, LAVCA & EY | March 7-8, 2017 | New York, NY | | | | | Women's Private Equity Summit
Hosted by Falk Marques Group | March 8-10, 2017 | Half Moon Bay, CA | | | | | FINNOSUMMIT
Hosted by Finnovista | March 14, 2017 | Bogotá, Colombia | | | | | MIPIM
Hosted by MIPIM | March 14-17, 2017 | Cannes, France | | | | | Wharton Latin America Weekend 2017
Hosted by The Wharton School | March 24-26, 2017 | Philadelphia, PA | | | | | AMEXCAP Annual Summit
Hosted by AMEXCAP | March 29-31, 2017 | Mexico City, Mexico | | | | | Yale Private Equity & Venture Capital Symposium
Hosted by Yale School of Management | March 31, 2017 | New Haven, CT | | | | | VC in the Bay
Hosted by LAVCA | April 3-4, 2017 | Bay Area, CA | | | | | VC in São Paulo
Hosted by LAVCA | May 9, 2017 | São Paulo, Brazil | | | | | IFC's 19th Annual Global PE Conference in Association with EMPEA
Hosted by IFC and EMPEA | May 16-17, 2017 | Washington, DC | | | | | ABVCAP Congress
Hosted by ABVCAP | June 5-6, 2017 | São Paulo, Brazil | | | | | Mexico PE Day 2017
Hosted by AMEXCAP | June 8, 2017 | New York, NY | | | | | LAVCA Week: Summit & Investor Roundtable
Hosted by LAVCA | September 26-27, 2017 | New York, NY | | | | | LAVCA Week: Venture Investors NY Summit
Hosted by LAVCA | September 28, 2017 | New York, NY | | | | | LAVCA Wharton Private Equity Professional Development Program
Hosted by LAVCA | November 13-16, 2017 | Miami, FL | | |
| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell |
Latin American Venture Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
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