Latin American Private Capital Update - October 6, 2021 | | | 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. |
| Thank you to the speakers, sponsors, investors and members who tuned in for LAVCA Week 2021.
It was inspiring to see the overwhelming support and participation from the LAVCA community, despite the challenges of a virtual environment, and were pleased to see many participants networking across the event platform.
We look forward to seeing you in person in 2022!
REMINDER TO PARTICIPANTS: Mainstage and breakout session recordings are available until October 8 via the LAVCA attendee hub using your personal login details. Access to these recordings is exclusive to program registrants.
Thank you to our event sponsors and partners including Advent International, Lexington Partners, General Atlantic, Riverwood Capital, IG4, Astella, KPMG, IDB Lab, CAF, DFC, AMEXCAP | Fondo de Fondos, Brown Rudnick, Venable, AWS,
Facebook, Google, Microsoft, Silicon Valley Bank and Visa.
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| DEAL CASE HIGHLIGHT Actis | Atlas renewable energy: Part of the same energy | | |
🏆 LAVCA's Seventh Annual Latin American Private Capital ESG Deal Awards awarded Actis the 2021 Gender and Diversity Award for their investment in a leading power generation company in Latin America, Atlas Renewable Energy.
Following the successful acquisition of SunEdison’s assets in early 2017, Actis rolled the projects into a newly created platform called Atlas Renewable Energy. Actis committed USD525m to expand the platform into a leading power generation company in Latin America. Atlas now manages 2,268 MW of contracted projects and employs over 140 people, compared to 578 MW and 40 employees at
the time of investment. Since its founding in 2017, Atlas has provided power to nearly 2.1 million households and prevented the emission of over 1.1 million tons of CO2. The company aims to grow its capacity by an additional 5 GW in the coming years.
Atlas partners with local communities to create projects that address their specific needs and challenges. Initiatives focus on three pillars of sustainability: bolstering quality education, advocating for gender equality and enhancing sustainable living. Recent initiatives in Brazil include apiculture projects, donations of seedlings for plantations of native fruit trees and the creation of environmental education centers and plant nurseries.
DOWNLOAD LAVCA's deal case featuring Actis's investment in Atlas Renewable Energy here.
VIEW the full list of winners of the Seventh Annual Latin American Private Capital ESG Deal Awards here.
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| VIRTUAL TRAINING: INCREASING PARTICIPATION OF WOMEN IN PRIVATE CAPITAL IN LATIN AMERICA | | |
LAVCA, in collaboration with GPCA, is pleased to announce Increasing Participation of Women in Private Capital in Latin America, the third virtual training in the Inside Private Capital series, a groundbreaking education training platform for GP and LP members.
The program will take place on October 14,11:00am - 2:00pm ET.
LAVCA members are invited to participate at the discounted rate.
The virtual training will explore leadership’s role in attracting and retaining female talent, discuss practical systems and processes that support women in the workplace, and provide context in terms of industry best practices and LP expectations.
Session 1: First-Hand Insights from Industry Veterans
Practitioner Faculty:
• Kate Mitchell, Partner, Scale Venture Partners
• Alisa A. Wood, Partner, KKR
Session 2: Leadership's Role in Attracting and Retaining Female Talent
Practitioner Faculty:
• Farah Khan, Partner, L Catterton
• Johanna G. Posada, Founder & Managing Partner, Elevar Equity
• Mauricio Salgar, Managing Director, Advent International Colombia S.A.S.
Session 3: Overcoming Unconscious Bias at the Organizational Level
Practitioner Faculty:
• Andrea de la Piedra, CEO & Co-Founder, Aequales
REGISTER here. For questions, contact education@lavca.org. | | |
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Private Equity News
Patria to Merge with Moneda Asset Management (Press Release) Patria Investments and Moneda Asset Management will combine to create a private equity, infrastructure and credit investment platform in Latin America with USD25.9b in assets under management. Read more
IG4 Capital Targets USD500m for Third Fund (Valor Econômico) IG4 Capital expanded its structure and is raising a third investment fund with a goal of reaching USD500m. Read more
BTG Pactual Invests ~USD2.4b in Brazil’s V.tal (Nasdaq) A fund managed by BTG Pactual invested BRL12.8b (~USD2.4b) for a 58% stake in Brazil-based fiber optic company V.tal. GIC recently invested BRL2.2b (~USD421m) in the fund. The deal is subject to regulatory approval. Read more
TreeCorp to Raise ~USD125.5m Fund (em Português) (NeoFeed) TreeCorp Investimentos is preparing to start raising its fourth fund with a reported target size of BRL700m (~USD125.5m).
Read more
Spice Private Equity Acquires Argo Seguros Brasil for ~USD30m (Press Release) Spice Private Equity acquired Argo Seguros Brasil for BRL160m (~USD30m). Argo Seguros Brasil is the Brazillian operations for Argo Group International Holdings, an underwriter of specialty insurance. Read more
XP Invests ~USD18m in Alife-Nino (em Português) (Forbes) XP invested BRL100m (~USD18m) in the Alife-Nino bar and restaurant chain, a network that has 21 bars and restaurants in Brazil. Read more CapSur Acquires 30% Stake in Neoway (The News 24) CapSur Capital acquired a 30% stake in Neoway, a Brazil-based market intelligence and data analytics company, for an undisclosed amount. Read more
XP Private Equity Acquires Hospital de Olhos Santa Luzia (em português) (Capitalist) XP Investimentos acquired Hospital de Olhos Santa Luzia, a Brazil-based hospital specialized in ophthalmology, for an undisclosed amount. Read more
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Venture Capital News
Mercado Libre and KASZEK to Launch USD250m SPAC (Bloomberg) MELI Kaszek Pioneer Corp, a SPAC formed by Mercado Libre and KASZEK targeting tech in Latin America, filed with the SEC to raise up to USD250m. Read more
Alfa Collab To Invest Up to ~USD120m in Brazil’s E-ctare (LABS News) Alfa Collab, the CVC arm of Brazilian insurance holding Conglomerado Alfa, announced an investment of up to ~USD120m over three years in E-ctare, a credit platform and digital wallet for rural producers in Brazil. Read more
Financial Advisor Platform Origin Raises USD57m Series B From 01A, General Catalyst and Lachy Groom (Press Release) Origin, a US-based financial advisor platform for company employees with operations in the US and Brazil, raised a USD57m Series B led by 01A, the VC fund of Dick Costolo and Adam Bain, General Catalyst and Lachy Groom, with follow-on from Founders Fund, Felicis Ventures and Abstract Ventures, at a reported USD400m valuation. Read more
Digital Currency Group Leads USD50m Series B for Argentine Crypto Platform Ripio (em Português) (Exame) Digital Currency Group (DCG) led a USD50m Series B for Ripio, an Argentine crypto trading platform with participation from Marcos Galperin (Mercado Libre), Martin Migoya (Globant) and Tim Draper (Draper Fisher Jurvetson). Read more
Mexican Last-Mile Delivery Platform Cargamos Raises USD11m Seed Round (TechCrunch) Cargamos, a Mexican e-commerce and last-mile delivery platform, raised a USD11m seed round from Mountain Nazca, Kayyak Ventures, FEMSA Ventures, and angels Carlos Garcia (Kavak), Ricardo Weder (Jüsto) and Guilherme Bonifacio (Merce do Bairro). Read more
Colombian Lending Platform Sempli Raises USD10m (en español) (latam fintech) Sempli, a Colombian lending platform for SMEs, raised USD10m from IDB LAB, Oikocredit, Incofin, Enabling Capital and Symbiotics. Read more
Globo Ventures Leads ~USD10m Series D Extension for Brazilian Food Delivery Service Liv Up (LABS News) Globo Ventures led a ~USD10m Series D+ for Liv Up, a Brazilian subscription-based meal kit delivery service. Read more
Crescera Capital Invests ~USD6m in Brazilian Consortium Quotas Marketplace BomConsorcio (em português) (Brazil Journal) Crescera Capital made a ~USD6m follow-on in BomConsorcio, a Brazilian marketplace enabling companies to execute secondary sales on their consortium quotas. Read more
YC and Public.com Lead USD5.7m Seed Round for Retail Investment Platform Sprout (Press Release) YC and NY-based retail investment platform Public.com led a USD5.7m seed round for Sprout, a retail investment platform enabling Brazilian citizens to invest in the US stock market, with participation from sound Ventures, Liquid2 Ventures, Geometry Ventures, HOF Capital, Quiet Ventures, First Check Ventures, Investo and The Marathon Lab. Read more
Kinea Ventures Leads ~USD5.4m Series A for Brazilian Credit Consignment Platform Paketá (em português) (NeoFeed) Kinea Ventures, the CVC arm of Itaú, led at ~USD5.4m Series A for Paketá, the Brazilian credit consignment platform, with follow-on from Shift Capital. Shift Capital led at ~USD1.8m seed round in December 2020. Read more
monashees and Valor Capital Group Lead ~USD4.6m Round for Brazilian Financial Management Platform BHub (em portugués) (Exame) monashees and Valor Capital Group led a ~USD4.6m pre-seed round for BHub, a Brazilian accounting and financial management platform for SMEs, with participation from QED Investors, Clocktower, Addition, Picus Capital, Norte Ventures, Latitud and Equitas VC. Read more
Grid Exponential Leads USD3m Round for Argentine Foodtech Tomorrow Foods (Green Queen) Argentine company builder Grid Exponential led a USD3m round for Tomorrow Foods, an Argentine plant-based proteins manufacturer. Read more
Honey Island Capital and Quartz Lead ~USD2.6m Round for Brazilian Fitness Membership Platform Tecnofit (em português) (Exame) Honey Island Capital and Quartz invested ~USD2.6m in Tecnofit, a Brazilian finance and membership management platform for fitness studios. Read more
FunderClub and Clocktower Lead USD2m Seed Round for Chilean Software Platform Toku (en español) (Chilean Startups) FunderClub and Clocktower led a USD2m seed round for Toku, a Chilean software platform enabling automated recurring payments for SMEs. Read more
Canary Leads ~USD1.6m Seed Round for Brazilian Trading Platform Gank (LABS News) Canary led a ~USD1.6m seed round for Gank, a Brazilian community-based trading platform for retail investors, with participation from GFC. Read more
Draper Cygnus Invests USD1m in Argentine Decentralized Collaboration Platform EGG (en español) (Memo) Draper Cyngus invested USD1m in EGG, an Argentine platform for decentralized collaboration. Read more
Lighthouse Investimentos Invests ~USD300k in Brazilian Cattle Auction Marketplace Erural (em português) (Brazil Journal) Lighthouse Investimentos invested ~USD300k in Erural, a Brazilian cattle and cattle beef auction marketplace. Read more
Domo Invest Leads ~USD240k Round for Brazilian Fleet Management Platform Infleet (em português) (Startupi) DOMO Invest led a ~USD240k round for Infleet, the Brazilian fleet operations management platform for logistic companies, with participation from Bossanova Investimentos and Anjos do Brasil. Read more |
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Real Assets News
Brookfield Exits Chile’s Autopista Vespucio Norte and Túnel de San Cristóbal via ~USD402m Sale to Globalvía (en español) (American Retail) Brookfield fully exited its 34% stake in Chile-based Autopista Vespucio Norte and Túnel de San Cristóbal concessions via a EUR340m (~USD402m) sale to Spain-based Globalvía. Read more
Dracma Launches USD60m Real Estate Fund (Tanoira Cassagne) Argentina-based fund manager Dracma executed the fundraising for its USD60m closed-end real estate investment fund. The Fund has a term of five years from the date of issuance of the shares corresponding to this first period of subscription.
Read more
Ameris Capital Exits Calcarrupe Desarrollo via ~USD36.5m Sale to Inmobiliaria Rio Bueno
(Global Legal Chronicle) A fund managed by Ameris Capital, fully exited its stake in Calcurrupe Desarrollo, via a ~USD36.5m sale to Inmobiliaria Rio Bueno. Calcurrupe Desarrollo SpA is developing six real estate projects in the city of Santiago. Read more |
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| LAVCA Members receive a discount on select events. For information, contact Kaela Kennedy. |
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Investment in Latin America
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New York, NY 10018
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