Latin American Private Capital Update - February 23, 2021Latin American Private Capital Update February 23, 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. |
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READ the latest deal case featuring Canary's investment in Brazil-based education services/ edtech startup Alicerce Educação.
According to the OECD, Brazil’s federal government invests an average of US$3,700 per student in early childhood education, compared to US$7,800 invested for all OECD countries.
In the 2018 OECD Program for International Student Assessment Survey (PISA), 43% of Brazilian students scored below the minimum level of proficiency in reading, mathematics, and science. Mean performance in the survey was linked to socio-economic status, as advantaged students outperformed disadvantaged students across all three areas of proficiency. In a country where over 80% of students attend public schools, achieving adequate levels of proficiency for disadvantaged students remains a challenge.
Alicerce Educação provides after-school education services to children of Brazilian workers. Alicerce’s educational model works from the ground up with after-school reinforcement and professional coaching.
Before Canary’s initial investment, Alicerce had 40 physical learning centers and needed additional capital to support the company’s rapid national expansion. In September 2019, Canary co-led a R$20m (US$4.8m) seed round alongside Valor Capital Group, with participation from angel investors Arminio Fraga, David Feffer, Luiz Fernando Figueiredo, Wolff Klabin, and Daniel Goldberg.
With Canary’s support, Alicerce launched ALIQUEST in early 2020, a proprietary Learning Management System (LMS), to provide online educational services at-scale. Since the launch, Alicerce increased its student base to more than six thousand in all 27 Brazilian states.
In addition, the company also introduced a B2B program through which companies can hire Alicerce to offer educational programs to workers, children of employees, or youth in the local community where the companies operate."
DOWNLOAD the full deal case here.
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| LAVCA recently spoke with Maria Pia Iannariello, Co-Founder & COO of MGM Innova Capital, about the opportunity for private capital and green infrastructure investments in Latin America.
The growing energy demand and the abundance of renewable energy resources coupled with an increasing awareness of the need for investing in sustainable solutions makes Latin America an attractive destination for green investments."
Iannariello also discusses how the firm’s investment strategy has shifted as a result of the current environment, highlights attractive sectors in the region, and provides a “sneak peek” at MGM Innova Capital’s current pipeline.
We have identified opportunities in sectors where high growth companies could benefit from our business model, such as telecommunications, where we see potential in energy storage solutions for remote communications towers, and in the foodtech and biotech industries, where there is a need for refrigerated storage facilities.”
READ the full interview here. | | |
| 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, the Private Capital Update and the LatAm Venture Bulletin, follow @lavca_org on Twitter, and 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
H.I.G. Capital Partially Exits Brazilian Advertising Company Eletromidia via IPO for US$17m (em português) (Money Times) H.I.G. Capital has partially exited its stake in Brazil-based outdoor advertising company Eletromidia via the company’s R$871.6m (approximately US$162m) IPO on the B3. According to regulatory filings, H.I.G. Capital’s Vesuvius FIP Fund sold shares worth R$91.97m (approximately US$17m), reducing its stake from 80.48% to 53.33%. Read more
Arlon Group and FitPart Invest US$18.5m in Brazilian Logistics Solutions Sotran (em português) (Forbes) Arlon Group and FitPart have invested R$100m (approximately US$18.5m) in Sotran, a Brazil-based logistics solutions company serving the agribusiness sector. Read more
H.I.G. Capital Acquires Brasília Indústria e Comércio de Alimentos FVO (Press Release) H.I.G. Capital has acquired pet food manufacturer FVO – Brasília Indústria e Comércio de Alimentos for an undisclosed amount. Read more
Acciones & Valores Launches Fore Fund (en español) (Dinero Semana) Acciones & Valores has launched the Fore fund, a Colombian private capital fund aiming to reduce Carbon dioxide emissions (CO2). Read more
Vinci Partners Raises US$250m via Nasdaq IPO (Nasdaq) Brazil-based Vinci Partners Investments raised US$250m in its IPO on the Nasdaq by offering 13.9m shares at US$18. The asset manager is now listed on the Nasdaq under the symbol VINP. Read more
L Catterton Partially Exits Espaçolaser for R$811.6m via IPO (Press Release) L Catterton has partially exited its stake in Brazil-based hair removal company Espaçolaser via the company’s R$2.64b (approximately US$483m) IPO on the B3. L Catterton sold shares worth R$811.6m (approximately US$148.5m) and reduced its stake from 33% to 5.27%, according to regulatory filings. L Catterton made the investment in 2017. Read more
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Venture Capital News
SoftBank and Invus Opportunities Lead US$84.5m Round in Brazilian Edtech Descomplica (Press Release) SoftBank and Invus Opportunities led a US$84.5m round in Brazilian edtech Descomplica, with participation from Península Participações, Chan Zuckerberg Initiative, and U2 guitarist The Edge, and follow-on from Valor Capital Group and Amadeus Capital Partners. Read more
Angel Ventures, FJ Labs, Upper90, and Presight Capital Lead US$50m Round in VALOREO (Press Release) Angel Ventures, FJ Labs, Upper90, and Presight Capital led a US$50m seed round in VALOREO, a Mexico-based e-commerce holding company specialized in acquiring, operating, and scaling Latin American- focused businesses under the Fulfillment by Amazon (FBA) business model. Read more
Lanx Capital Leads R$13.5m Round in Brazilian Agricultural Marketplace Grão Direto (Valor Econômico) Brazil-based private equity firm Lanx Capital led a R$13.5m round in Grão Direto, a Brazilian agricultural commodity marketplace that primarily execute transactions via mobile and WhatsApp, with participation from Barn Investimentos, Bayer, and Grupo Rendimento. Read more
Base10 Capital Partners Leads US$7.8m in Mexican Lending Platform Mundi (en español) (T21) Base10 Partners led a US$7.8m in Mundi, a Mexican lending platform for SMEs aiming to facilitate international trade, with participation from FJ Labs. Read more
Randon Ventures Invests R$13m in Brazilian Fleet Insurance Marketplace Grupo Delta (em português) (Baguete) Randon Ventures, the CVC arm of Brazilian railroad equipment manufacturer Empresas Randon, invested R$13m in Grupo Delta, a Brazilian marketplace for company fleet insurance. Read more
Movile Leads Series A Investment in Argentine Last-Mile Delivery Platform Moova (en español) (Endeavor) Movile led an undisclosed Series A in Moova, an Argentine route optimization software for last-mile delivery, with participation from Alaya Capital, FJ Labs, Matterscale Ventures, Kalei Ventures, Mittal, and Murchinson. Read more
Proeza Ventures Leads ~US$6m Series A in Spain-Based Logistics Management System BusUp (em português) (Startupi) Mexican VC fund Proeza Ventures led a ~US$6m Series A in BusUp, a Spain-based fleet and logistics management system with operations in Peru and Brazil, with participation from Autotech Ventures. Read more
Storm Ventures Leads US$2m in Brazilian Event Management Platform InEvent (em português) (Startupi) US-based VC fund Storm Ventures led a US$2m round in InEvent, a Brazilian management software for virtual corporate event planning for US and Brazilian companies. Read more
Astella Investimentos Invests R$8m in Brazilian Omnichannel Marketing Platform bornlogic (em português) (Startupi) Astella Investimentos invested R$8m in bornlogic, a Brazilian omnichannel marketing software platform for SMEs targeting audiences through e-commerce platforms, WhatsApp, or physical stores. Read more
DOMO Invest Invests R$3.5m in Brazilian Edtech Digital Innovation One (em português) (Valor Econômico) DOMO Invest invested R$3.5m in Digital Innovation One (DIO), a Brazilian edtech offering software development courses and connecting students to companies in search of technical talent. Read more
Alaya Capital Partners Leads US$1.2m Round in Accounting and Legal Management Platform Backstartup (en español) (Forbes) Alaya Capital Partners led a US$1.2m seed round in Backstartup, a Colombian accounting, invoicing, and legal management platform for SMEs, with participation from Life is Too Short Capital, LabCap, and 0B. Read more
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Real Assets News
KKR to Acquire Majority Stake in Telefonica Chile’s Fiber Optic Network in a Deal Valued at US$1b (Press Release) KKR has agreed to acquire a majority stake in the existing fiber optic network of Telefonica Chile in order to establish an open access wholesale fiber optics company. Telefonica will hold a 40% stake in the new company. The transaction is valued at US$1b and subject to regulatory approvals. Read more
MGM Innova Capital Invests US$4m in Wirewatt (Crunchbase) MGM Innova Capital has invested US$4m in Wirewatt, a Mexico-based clean energy financing platform providing loans to homeowners and SMEs to finance solar, battery, and other energy-efficiency improvement projects. Read more
BTG, Safra, and Kinea Invest R$1.2b for Rochaverá Towers (em português) (Valor Econômico) BTG Pactual, Safra, and Kinea have adquired Rochaverá Towers, a corporate enterprise located in São Paulo, for R$1.2b. Read more
Sequoia Capital Exits Pindaí via Sale to Electrobras for R$20.6m (em português) (Money Times) Sequoia Capital has exited wind complex Pindaí via a sale to Electrobras for R$20.6m. Read more
TPG Capital’s Matrix Renewables Acquires 154MW Solar Portfolio in Chile (Renewables Now) TPG Capital's renewable energy platform Matrix Renewables has acquired a 154MW solar portfolio in Chile from Verano Capital for an undisclosed amount. Read more
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Investment in Latin America
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