Latin American Private Capital Update - October 20, 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. |
| 2022 CALL FOR SUBMISSION: Latin american Private capital deal cases | | |
In an effort to showcase best-in-class examples of private capital activity in Latin America, LAVCA is again collaborating with member investors to highlight portfolio company deal cases to our audience of global institutional and fund investors, as well as strategic and long-term investors active or interested in Latin America.
The 2022 Latin American Private Capital ESG Deal Awards seek to spotlight deals with extraordinary ESG outcomes at the firm- and company-level as well as highlight examples of COVID-19 efforts within the company and local community.
The deadline to submit a portfolio company for Award consideration is Nov. 30, 2021.
Select deals will also be considered for publication in a series of case studies. To date, deal cases published by LAVCA have received nearly 6,000 downloads. Private capital award winners have also been featured at investor events, in industry publications, and via widely distributed news and press releases across LAVCA’s network.
NOMINATE A PORTFOLIO COMPANY FOR AN AWARD: We exclusively invite member GPs to nominate a portfolio company deal across any asset class including private equity, VC/tech, private credit and real assets. Member GPs can request the submission form and submit their deal by emailing Megan Smith at [email protected]. Associate members can also nominate firms and deals by contacting Megan.
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| 2021 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 Atlas Renewable Energy, a power generation company in Latin America.
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' 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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Private Equity News
Bain Capital Acquires 43% Stake in Brazil’s Bionexo (Bain Capital | Brazil Journal) Bain Capital, through Bain Capital Tech Opportunities, invested BRL450m (~USD81.6m) for a 43% stake in Brazil-based healthcare software company Bionexo at a reported BRL1.1b (~USD199.5m) valuation, facilitating a partial exit for Prisma Capital and Apus. Read more
Patria Acquires Neosecure and Proteus (Reuters) Patria Investimentos acquired cybersecurity companies Neosecure and Proteus and plans to invest USD250m in the cybersecurity sector in Latin America. Read more CDPQ Acquires Significant Minority Stake in Mexico’s Grupo Diagnóstico Aries (Press Release) Caisse de dépôt et placement du Québec acquired a significant minority stake in Mexico-based medical diagnostic services group Grupo Diagnóstico Aries. The transaction is subject to regulatory approval. Read more
Vinci Partners Acquires Brazil’s Farmax (Press Release) Vinci Partners, through its Vinci Capital Partners III, agreed to acquire Brazil-based cosmetics platform Farmax for an undisclosed amount. Read more
XP Private Equity Merges CBV Holding with Grupo H. Olhos to Form Vision One
(em português (Brazil Journal) XP Private Equity merged Brazil-based eye hospital CBV Holding with Grupo H. Olhos, an ophthalmology network in São Paulo to form Vision One. The size of the transaction, which was structured as an exchange of shares, was not disclosed. Read more |
Venture Capital News
Advent International and SoftBank Lead USD225m Series B for E-Commerce Aggregator Merama (Press Release) Advent International and SoftBank led a USD225m Series B for Merama, a Mexico- and Brazil-based e-commerce brand aggregator, with participation from Globo Ventures, and follow-on from monashees, Valor Capital Group, Balderton Capital and MAYA Capital at a reported ~USD850m valuation. Read more
Tencent and SoftBank Lead USD200m Series F for Brazilian Trucking Marketplace CargoX (em português) (Brazil Journal) Tencent and SoftBank led to USD200m Series F for CargoX, the Brazilian trucking marketplace, with participation from Valor Capital Group and MFO Oikos, and follow-on from Lightrock. Tencent and SoftBank committed USD150m of the total round. Read more
Tarsadia Capital and QED Investors Lead USD110m Series E+ for Mexican Fintech Konfío (en español) (Forbes) Tarsadia Capital and QED Investors led a USD110m Series E + for Konfío , a Mexican lending platform for SMEs, with follow-on from SoftBank, KASZEK, VEF, IFC and Lightrock. Read more
Crescera Capital Leads USD80m Series C for Brazilian Mobility Platform Tembici (LABS News) Crescera Capital led a USD80m Series C for Tembici, a Brazilian micro-mobility platform focused on bikes, with participation from Endeavor Catalyst and Pipo. Tembici raised a USD47m Series B led by Valor Capital Group in June 2020. Read more
Accel Leads USD23m Series A for Mexican B2B Fintech Higo (TechCrunch) Accel led a USD23m Series A for Higo, a Mexican B2B payments platform for SMEs, with participation from Tiger Global and angels Claire Hughes-Johnson and Cristina Cordova (Stripe), and follow-on from Haystack, Homebrew, Audacious, Susa Ventures and J Ventures. Read more
Valor Capital Group Leads USD22m Series A for Mexican Edtech Aprende Institute (Bloomberg Linea) Valor Capital Group led a USD22m Series A for Aprende Institute, a Mexican vocational training platform, with participation from ECMC Group, Univision, Angel Ventures, Capria, Endeavor Catalyst, Artisan Venture Capital, Matterscale, Salkantay Ventures, 500 Global, The Yard Ventures and Claure Group, and follow-on from Reach Capital. Read more
Tiger Global and Point72 Ventures Lead USD20m Series A for Colombian HRtech Ontop (Refresh Miami) Tiger Global and Point72 Ventures led a USD20m Series A for Ontop, a Colombian onboarding and payroll management platform for companies with international teams, with participation from SoftBank. Read more
Square Capital and Hard Yaka Invest USD15m in Colombian Digital Payments Platform Movii (en español) (Forbes) Movii, a Colombian digital payment platform, raised a USD15m round led by Square Capital and SF-based VC Hard Yaka. Blue Like an Orange invested USD10m in 2020. Read more
500 Global, Dalus Capital and IDB Lab Invest USD10m in Colombian Budget Chain Ayenda (en español) (Forbes) Ayenda, a Colombian budget hotel chain, raised a USD10m round from 500 Global, Dalus Capital and IDB Lab. Dila Capital invested in June; KASZEK led to USD8.7m Series A in 2020; SoftBank led to USD1.2m seed round in 2019. Read more
Atlantico Leads USD6m Series A for Brazilian Wholesale Marketplace ZAX (Techcrunch) Altantico led a USD6m Series A for ZAX, a Brazilian B2B wholesale marketplace for clothing, toys and electronics, with participation from FJ Labs, Caravela Capital, GFC and Canary. Read more
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Real Assets News
CPP Investments Invests ~USD270m in Joint Venture with Votorantim (Press Release) CPP Investments and the Votorantim Group agreed to consolidate several Brazilian energy assets to create a new combined company to be listed on the B3. CPP Investments will invest BRL1.5b (~USD270m) in the business, while Votorantim Energia incorporates Votene, (its energy trading company), along with other assets. Read more
GTIS Partners Acquires USD248m in Real Estate Assets in Brazil (Press Release) GTIS Partners, through its GTIS Brazil Logistics Real Estate Investment Fund, acquired USD248m in real estate assets in Brazil. Read more
Actis Acquires Power Assets From EDP Brasil
(Reuters) Actis acquired three power transmission assets from EDP Brasil, a Brazil-based power company, at an enterprise value of ~USD237m. Read more IDB Invest to Provide USD200m in Financing for Puerto Antioquia
(IDB Invest) IDB Invest signed a USD200m financing deal for the construction, operation and maintenance of Puerto Antioquia, a new multipurpose port facility located in the Gulf of Urabá, Colombia. Read more Actis Acquires MT Falcon Holdings
(Reuters) Actis acquired MT Falcon Holdings, a Mexico-based power plant operator, from four Japanese companies: Mitsui & Co, Tokyo Gas, JERA and Tohoku Electric Power. Read more |
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| | Colombia Fintech
Hosted by Colombia Fintech | October 22, 2021 | Virtual
| | | INCmty
Hosted by INCmty | November 8, 2021 | Virtual
| | | WeXchange
Hosted by IDB Lab | December 1-2, 2021 | Virtual
| | | GPC Conference
Hosted by GPCA | April 4-6, 2022 | New York, NY
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| LAVCA Members receive a discount on select events. For information, contact Kaela Kennedy. |
The Association for Private Capital
Investment in Latin America
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