Latin American Private Capital Update - June 29, 2021Latin American Private Capital Update June 29, 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. |
| VC investment in Latin American startups is on track to exceed USD2b for Q1 2021, making it the strongest quarter on record after Q2 2019 (USD1.9b), which included SoftBank’s USD1b investment in Rappi.
Some of the largest known rounds in 2021 to date: Nubank’s USD750m Series G+; Loft’s USD525m Series D; Ebanx's USD430m round; QuintoAndar’s USD300m Series E; Clip’s USD250m Series D; Bitso’s USD250m Series C; Loggi’s ~USD205m Series E; MadeiraMadeira’s USD190m Series E; Cloudwalk’s USD190m Series B; Habi's USD100m Series B.
VIEW LAVCA’s 2021 Annual Review of Tech Investment in Latin America for additional insights on Q1 2021 investment trends.
READ LAVCA's LatAm Venture Bulletin latest editions here. | | |
| EMPEA, the global industry association for private capital investment in Asia, Latin America, Africa, Central & Eastern Europe (CEE) and the Middle East, announced it is now the Global Private Capital Association.
VISIT the website.
READ the press release.
LAVCA in collaboration with the Global Private Capital Association, is pleased to invite you to Cultivating LP Relationships in the Pandemic Era, the second virtual training in the Inside Private Capital series, a groundbreaking education training platform for GP and LP members.
The program will take place on July 14, 8:15am - 11:30am ET.
LAVCA members will be given special consideration to participate in module two at the discounted rate.
The sessions will address the criteria LPs are using to evaluate new GP commitments in the current environment. Practitioner faculty will provide practical insight into how GPs can initiate, maintain and strengthen relationships with LPs in an environment that doesn’t allow for face-to-face meetings, and explain new expectations around operational due diligence, from compliance to background checks.
Session 1: Adapting LP Relationship Building to 2021 Realities
Practitioner faculty include:
> Mounir “Moose” Guen, Chief Executive Officer, MVision
> Pamela Fung, Executive Director, Head of Asia Pacific, Morgan Stanley Alternative Investment Partners
Session 2: Navigating Operational Due Diligence in the Current Environment
Practitioner faculty include:
> Benjamin Murray, Chief Operating Officer, Cypress Creek Partners
REGISTER here. For any questions, please contact [email protected]. | | |
| 🏆 LAVCA's Seventh Annual Latin American Private Capital ESG Deal Awards recently awarded Mesoamerica a 2021 Social Responsibility Honorable Mention for their investment in the Colombian milk company Alquería.
Mesoamerica acquired a 35% stake in Alquería in May 2019, which included the acquisition of a minority stake from IFC. Since then, Alquería and Mesoamerica have established a “partnership with purpose” — one that boosts profitability while also improving the quality of life for all stakeholders.
With this investment, Alquería created a plan with clear objectives, strategies and metrics to drive the company’s transformation in the next five years. A board of directors was established with participation from independent professionals, including seasoned dairy executives and industry leaders in digital transformation. Rafael Alvarez, an executive with extensive experience in the beverages sector, was brought on board to implement the company’s transformation strategy. In addition, Alqueria started using GRI standards in 2019 and is in the process of being certified as a B Corporation.
Over 3,000 raw milk suppliers benefit from Alqueria’s “Vaca Madrina” program, which teaches farmers how to increase milk production efficiency through sustainable farming and technological innovation.
DOWNLOAD LAVCA's deal case featuring Mesoamerica's investment in Colombia-based milk company Alqueria here.
VIEW the full list of winners of the Seventh Annual Latin American Private Capital ESG Deal Awards here.
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Private Equity News
Advent International Invests USD430m in Brazil’s Ebanx (Press Release) Advent International invested USD430m in Brazil-based cross-border payment platform Ebanx. Advent invested through its Latin American Private Equity Fund, Global Private Equity, Advent Tech and Sunley House Capital fund. Read more
Patria’s Athena Saúde Acquires Hospital Alagoinhas for BRL137.1m (em português) (Fusões & Aquisições) Patria’s Athena Saúde acquired Brazilian Hospital das Clínicas in Alagoinhas for BRL137.1m. Read more
Creation Investments Leads USD20m Investment in Chilean Insurance Group AVLA (Press Release) Creation Investments Capital Management led a USD20m investment in Chile-based global insurance group AVLA, with participation from DEG and Altra. Read more
GEF Acquires Minority Stake in Brazil’s Pro Solus for ~BRL75m (em português) (Valor Econômico) GEF acquired a minority stake in Pro Solus, a Brazil-based company that focuses on agricultural technology solutions, for ~BRL75m (~USD15m). Read more
L Catterton Files to Raise USD200m for Latin America-Focused SPAC (Renaissance Capital) L Catterton Latin American Acquisition, a blank check company formed by L Catterton, filed with the SEC to raise up to USD200m (offering 20m units at USD10) in an initial public offering. Read more
Kinea Exits Centro Clínico Gaúcho (CCG) via BRL1.06b Sale to Notre Dame Intermédica (em português) (Money Times) Kinea Investimentos exited health provider Centro Clínico Gaúcho (CCG) via a BRL1.06b sale to Notre Dame Intermédica. Read more
SoftBank to Invest Up to USD150m in Grupo Bursatil Mexicano (GBM) (TechCrunch) SoftBank, via its Latin America Fund, committed up to USD150m to Grupo Bursatil Mexicano (GBM), an investment brokerage platform in the Mexican stock market. Read more
Crescera Exits Afya via Sale to Bertelsmann (Brazil Journal) Crescera Capital sold its remaining 25% stake in Brazil-based medical education group Afya to Germany-based media conglomerate Bertelsmann, achieving a full exit. With this transaction, Crescera will finish divesting its Growth III fund. Read more
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Venture Capital News
Uber Acquires Chilean Grocery Delivery Cornershop at ~USD3b+ Valuation (Press Release) Uber Technologies acquired 100% of Cornershop to make the Chilean startup part of its e-commerce long-term bet at a reported ~USD3b+ valuation. The deal comes two years after a successful strategic partnership that included a USD250m investment from the ride-hailing giant. Read more
dLocal Raises USD617.7m on the NASDAQ at USD6.1b Valuation (Reuters) dLocal, a Uruguay-based cross-border payment platform, raised USD617.7m in its IPO on the NASDAQ at a reported USD6.1b valuation. Read more
DNA Capital Leads ~USD60m Round for Brazilian Drug Prescription Provider Memed (em português) (Brazil Journal) DNA Capital led a ~USD60m round for Memed, a Brazilian provider of digital drug prescriptions, to expand its services from prescriptions to drug fulfillment. Read more
Lightrock Leads USD125m Series E for Mexican Lending Platform Konfio (en español) (Expansión) Lightrock led a USD125m Series E for Konfio, a Mexican lending platform for SMEs. Konfio secured a USD60m credit line from Goldman Sachs earlier this year; SoftBank, KASZEK, QED Investors and Vostok Emerging Finance invested USD100m in 2019. Read more
SoftBank Leads USD100m Series B for Colombian Proptech Habi (en español) (Press Release) SoftBank led a USD100m Series B for Habi, a Colombian middle-class residential real estate platform leveraging the iBuyer business model, with follow-on from Inspired Capital, Tiger Global, Homebrew and 8VC. Read more
Chilean Insurtech Betterfly Raises USD60m Series B from DST, QED, Valor, Endeavor, SoftBank (en español) (Press Release) Betterfly (formerly Burn to Give), a Chilean certified B-Corp insurtech providing life insurance for employees of SMEs and incentivizing policyholder’s wellbeing with subsidized coverage, raised a USD60m Series B from DST Global, QED investors, Valor Capital Group, Endeavor Catalyst and SoftBank Latin America Fund. Read more
Lofoten Capital Leads ~USD36m Series D for Brazilian Frozen Meal Delivery Platform LivUp (em português) (Brazil Journal) Lofoten Capital led a ~USD36m Series D for LivUp, a Brazilian D2C frozen meal delivery platform, with participation from Cadonau and angels Milton Seligman and Ricardo Rolim (Ambev), Christian Egan (Itau), Rob Citrone (Discovery Capital), Luiz Otavio Campos (Onyx Equity Management), and follow-on from KASZEK and ThornTree Capital. Read more
QED Investors Leads USD30m Series B for Brazilian Solar Energy Financing Platform Solfácil (Press Release) QED Investors led a USD30m Series B for Solfácil, a Brazilian solar energy financing platform, with follow-on from Valor Capital Group. Valor invested USD4m in 2020. Read more
IDB Invest, Blue Like an Orange and Mexico Ventures Lead USD27.5m Round for Mexican Lending Platform kubo.financiero (en español) (Endeavor Media Lab) IDB Invest, Blue Like an Orange and Mexico Ventures led a USD27.5m round in kubo.financiero, a Mexican peer-to-peer lending platform, with participation from Dalus Capital and follow-on from Bamboo Finance and KuE Capital. Read more
Peru's PRODUCE and COFIDE Launch ~USD18m Fund of Funds (en español) (Business Empresarial) Peru's PRODUCE and COFIDE launched Fondo de Capital para Emprendimientos Innovadores, a ~USD18m fund of funds targeting investments in Latin America-based fund managers. Read more
Pelham Capital Leads USD10m Round for Argentine Car Marketplace Karvi (LABS News) Pelham Capital led a USD10m round for Karvi, an Argentine car sale marketplace, with participation from Launchpad, Inti Ventures and Luxor Capital. Read more
Btomorrow Ventures, Capital Lab and Invest Tech Lead ~USD3.4m Series A for Brazilian Freight Platform Uello (em português) (Startupi) UK-based VC Btomorrow Ventures, Capital Lab and Invest Tech led a ~USD3.4m Series A for Uello, a Brazilian express freight platform for corporate retailers and e-commerce brands. Read more
Redpoint eventures and HDI Invest USD4.5m in Brazilian B2B Financial Planning Accountfy (em português) (Startupi) Redpoint eventures and HDI invested USD4.5m in Accountfy, a Brazilian B2B financial planning platform, to expand its operations to the US. Read more
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Real Assets News
EIG-Backed Solar Power Plant Cerro Dominador Begins Full Operations (Press Release) EIG-backed solar power plant Cerro Dominador began its full operations following a successful synchronization with the Chilean National Electrical System. Read more
BTG Pactual, BCI & APG to Acquire Chilean Timberland Assets for USD385.5m (BCI) BTG Pactual’s Timberland Investment Group, alongside Canada’s British Columbia Investment Management Corporation and pension provider APG, agreed to acquire Chilean timberland assets from Arauco for USD385.5m. Read more
Darby International Capital Sells Stake in Ocensa (Press Release) Darby International Capital sold its stake in Colombian oil pipeline Ocensa to Spain-based AI Candelaria for an undisclosed amount. Read more
Appian Capital Advisory to Sell the Caserones Copper Royalty to Nomad Royalty for USD23m (Press Release) Appian Capital Advisory entered into an agreement to sell the Chile-based Caserones copper royalty to Nomad Royalty for USD23m. The transaction is subject to approval. Read more
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| LAVCA Members receive a discount on select events. For information, contact Catalina Santos. |
The Association for Private Capital
Investment in Latin America
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New York, NY 10018
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