Latin American Private Capital Update - February 4, 2020Latin American Private Capital Update February 4, 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 member investment firms and qualified institutional investors can RSVP for a complimentary pass to attend the Latin American PE Awards during the PEI/PRI Responsible Investment Forum in New York on March 4, 2020:
3:20 PM LAVCA Member Check-in
4:25 PM Latin America PE Awards Presentation
4:40 PM Responsible Investment Forum Closing Keynote Interview with Ken Mehlman, Member and Global Head of Public Affairs, KKR
5:10 PM Chairman's Closing Remarks
5:15 PM Cocktail Reception & LP Networking
Past LP attendees included: Chauncey F. Lufkin III Foundation, City of Chicago, The City of New York, Finance, Dancap Family Investment Office, Episcopal Diocese of Pittsburgh, Ford Foundation, Harvard Kennedy School Belfer Center for Science and International Affairs, Harvard Management Company, Klaff Family Investments, NUVEEN, NYC Mayor's Office of Pension & Investments, Office of the New York City Comptroller, OPTrust Private Markets, Oregon State Treasury, PSP Investments, The Rockefeller Foundation, Second Swedish National Pension Fund (AP2), Spruceview Capital Partners, Super Investment Management, United Nations Capital Development Fund, USS Investment Management, Wafra.
LAVCA has a limited number of passes and attendance is restricted to one person per firm. RSVP before March 2, 2020 to confirm your place or be added to the waitlist.
>> RSVP: [email protected] <<
Members interested in attending the full 2-day PEI/PRI Responsible Investment Forum receive a 15% LAVCA Member discount. Contact [email protected] for details. | | |
| Fund managers and fund of funds are invited to the EMPEA | LAVCA Private Equity Masterclass in Association with ColCapital on March 4 in Bogotá, Colombia. The training coincides with ColCapital's annual investor meeting.
Supported by Debevoise & Plimpton and Brigard & Urrutia, this Masterclass provides an opportunity for fund managers and investors to gain practical insights from EM PE practitioners with decades of experience. Highly practical program content will address fundraising for EM funds, legal considerations, and provide first hand input from limited partners on securing commitments and common pitfalls.
✔️ NEW Member Benefit in 2020: LAVCA Member GPs receive a complimentary pass to this program. Register here. | | |
| ♀️ Women STEMpreneurs in LatAm are driven by purpose, personal challenge, and passion, as well as their motivation to solve pressing issues in their own countries/communities.
WX Insights 2020: The Rise of Women STEMpreneurs, is a study produced by IDB Lab and WeXchange on Women Entrepreneurs in STEM in Latin America and the Caribbean (LAC).
Powered by Santander, this report summarizes the profiles, needs, and challenges of this important community. The study is based on a region-wide survey of 1,148 responses.
Download it here.
ℹ️ #CHANGETHERATIO Also supported by IDB Lab, access LAVCA's Women in VC/Tech portal that aggregates key directories, surveys, interviews, and information on gender diversity in the tech ecosystem in Latin America. Visit here: LAVCA.ORG/WOMEN | | |
| For real-time updates on deals, news, and events from the private capital industry in Latin America and the Caribbean, subscribe to all of our newsletters, follow @lavca_org on Twitter, and/or or join our LinkedIn page.
Have interesting news to share with LAVCA? Fund managers, institutional investors, and relevant players in the PE, real estate, VC, and tech startup universe in Latin America can submit fundraising, investment, and exit-related news to [email protected]. | | |
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Private Equity News
Alta Growth Capital and Northgate Capital Acquire USK Urresko Holding (Amexcap) Alta Growth Capital and Northgate Capital acquired a majority equity interest in USK Urresko Holding, a Mexican manufacturer of heavy trucks. The amount of the transaction was undisclosed. Read more
H.I.G. Capital-Backed Eletromidia To Acquire Victoria Capital-Backed Elemidia (em português) (Valor Econômico) H.I.G. Capital-backed Eletromidia, a Brazilian advertising platform acquired Victoria Capital’s Elemidia. This transaction represented an exit for Victoria Capital. Read more
Nexxus Capital Appoints Christianne Ibañez as Head of Investor Relations (Press Release) Nexxus Capital has appointed Christianne Ibañez as head of Investor Relations. Read more
Perfin Apollo Raises R$1b To Invest in Electricity Sector (em português) (Info Money) Perfin Apollo Energia Investment Fund in Participations in Infrastructure (PFIN11) raised R$1b to invest in the electricity transmission sector. The Brazilian stock market-listed FIP’s portfolio consists of six power transmission lines located in Bahia, Minas Gerais, Espírito Santo, São Paulo, Rio de Janeiro, and Mato Grosso. Read more
Promecap Launches Third CKD for US$320m Mexican Stock Exchange (en español) (Amexcap) Mexico’s Promecap Capital launched its third CKD for US$320m on the Mexican Stock Exchange. Read more
Riverwood Capital Announces New Partners (Press Release) Riverwood Capital announced the promotion of Harish Belur, Joaquim Lima, and Scott Ransenberg to Partner. Read more
Victoria Capital Partners and IFC Exit Brazil's Prevaler by Selling Itaú Unibanco (em português) (Época Negócios) Victoria Capital Partners and the International Finance Corporation (IFC) exited publicly listed Brazilian student loan provider Pravaler by selling their remaining shares to Itaú Unibanco. Financial terms were undisclosed but Itaú’s stake in Pravaler increased from 9% to 37.9%. Read more
Advent Acquires Rondobras (Reuters) Advent International acquired auto parts retailer Rondobras in an add-on acquisition. Rondobras will be absorbed by Fortbras, an auto parts maker Advent acquired in 2016. Financial details of the transaction were undisclosed. Read more
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Venture Capital News
Unbox Capital Leads US$40m Series B in Solinftec (en español) (Press Release) Unbox Capital led a USD40m Series B round in Solinftec, a Brazilian agtech. Also included in the round was USD20m agri asset-backed debt, led by Itaú BBA and Gaia Securitizations and backed by family offices and hedge funds. TPG Art made a separate undisclosed follow-on investment in the company. Read more
SoftBank Leads a US$125m Series B in AlphaCredit (Crunchbase) SoftBank led a US$125m Series B in AlphaCredit, a Mexican lender to individuals and SMBs in Mexico and Colombia. This is the company’s first disclosed financing. AlphaCredit has disbursed over US$1b in loans since 2010. Read more
E.bricks Ventures Invests R$40m in Acesso Digital (Valor Econômico) e.bricks Ventures invested R$40m in Acesso Digital, a Brazilian digital identity and facial recognition company. This is the company’s first disclosed financing. Read more
Monashees Leads a R$20m Seed Investment in Yuca (em português) (Press Release) In 2019, monashees led a R$20m seed investment in Yuca, a Brazilian rental services startup, with participation from ONEVC, Creditas, and others. Read more
Venrex Investment Management and Others Invest US$3.25m in Global 66 (LatAm List) Chilean payments platform Global 66 raised US$3.25m from Venrex Investment Management, with participation from angels Mario Solari (Genesis Management) and Will Armitage. Read more
Astella Investimentos and Others Invest in Grão (em português) (Valor Econômico) Astella Investimentos led an undisclosed investment in Grão (formerly Diin), a savings app for low-income Brazilians, with participation from Vox Capital and Domo Invest. Grão, co-founded by Monica Saccarelli and Frederico Meinberg, previously raised R$7.5m since launching in 2018, and has over 10k clients. Read more
Cedro Capital Invests R$2.5m in Portal de Compras Públicas (em português) (Startupi) Cedro Capital invested R$2.5m in Portal de Compras Públicas, a Brazilian platform for public procurement purchases. Read more
Iporanga Ventures Invests in Stark Bank (Contxto) Iporanga Ventures led an undisclosed investment in Stark Bank, a Brazilian B2B payments processing platform founded by Rafael Stark. Clients include Rappi, Rebel, and others. Read more
Angel Ventures and Others Invest US$415k in Rebus (Press Release) Angel Ventures led a US$415k investment in Rebus, A Colombian event tech startup, with participation from Magma Partners, Enlaces, Quake Capital, Avalancha Ventures, and angels. Read more
Smart Money Ventures Leads a R$3m Investment in Gama Academy (em português) (Startupi) Smart Money Ventures led a R$3m investment in Gama Academy, a Brazilian edtech focused on professional training in programming, design, marketing, and sales. Read more
Capital Lab Leads R$3m Investment in Atomic Agro (em português) (Startupi) Capital Lab led a R$3m investment in Atomic Agro, a Brazilian agtech productivity platform for small-scale producers. Read more
Honey Island Capital Invests R$1-2m in OmniChat (em português) (Globo) OmniChat, a Brazilian sales facilitation platform that runs on WhatsApp, raised R$1-2m from Honey Island Capital (formerly Hi Capital), a seed investment firm run by EBANX founders. Read more
Angel Ventures Invests in Decifra (Contxto) Angel Ventures led an undisclosed investment in Decifra, a Mexican SaaS platform focused on geospacial analytics. Read more
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Real Asset News
Vinci Shopping Centers Raises R$480m Via Brazilian Stock Exchange (em português) (Money Times) Vinci Shopping Centers Real Estate Investment fund, administered by Vinci Partners, raised R$480m via an offering on the Brazilian stock exchange. Read more
Grupo IGS Acquires South Park Complex in Mexico (en español) (Brazil Journal) Grupo IGS acquired the South Park Complex in Mexico. The amount of the transaction was undisclosed. Read more
Patria to Acquire RE Assets in Vila Olimpia for R$27.5m (em português) (Brazil Journal) Patria Investimentos to acquire RE assets in Brazilian property Vila Olimpia for R$27.5m. Read more
Goldman Sachs Invests R$4.5m in Melhortaxa (em português) (Brazil Journal) Real estate credit marketplace Melhortaxa raised ~R$4.5m from the private equity arm of Goldman Sachs at a reported valuation of R$100m. This is Goldman’s third investment in Melhortaxa through Holding Finizy, which controls Meilleurtaux.com in France. Read more
CPPIB and Cyrela's Joint Venture Buys Two Towers in JK Iguatemi Complex (em português) (Brazil Journal) Cyrela and CPPIB’s joint venture bought two towers in the JK Iguatemi Complex in São Paulo for R$1.05b. One of the towers is the headquarters of Amazon Brazil. Read more
Avante Financial Group Acquires Retirement Facilities from Ambar Residence Group (Press Release) Chilean-Colombian financial firm Avante Financial Group acquired two retirement facilities in Santiago, from Ambar Residence Group for ~US$35.5m. 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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