Welcome Latin America PE/VC Report - November/December 2016 Welcome to the November/December edition of the Latin American PE/VC Report. This marks the final edition for 2016 and includes LAVCA's latest Executive Briefing with insights from the PE community following the US election in November. We closed out November with the 2nd annual LAVCA/Wharton Private Equity Professional Development Program, which brought together 30+ investment professionals from PE firms, family offices, pension funds, fund of funds, and others including Aqua Capital, Arzentia Capital, CPPIB, DEG, EFM, Geribá Investimentos, IFC, Kandeo, Linzor Capital Partners, Peninsula Participações, Puerto Asis, Stratus Group, and more. Next year's program is scheduled for November 13-16, 2017. I hope you enjoy this month’s profiles of new Member Firm Jaguar Growth Partners, who closed their inaugural fund today, December 1, and institutional investor Commonfund. We also interviewed Simón Borrero, Co-founder & CEO of Colombian delivery startup Rappi. Cate Ambrose
President and Executive Director
Latin American Private Equity and Venture Capital Association
Executive Briefing Finding a New Normal The Mexico panel at the 2016 LAVCA Summit & Investor Roundtable in September was prophetic: At the time, I couldn’t understand why five top PE managers would waste 40 minutes of air time with an audience of institutional investors discussing the prospect of a Trump presidency.
This briefing explores insights from investors across Latin America and around the world in terms of the immediate and longer-term impact of the Trump presidency on the investment environment in the region. Read more » Back to top
Profiles of the Month Member Profile: Gary Garrabrant, Managing Partner, Jaguar Growth Partners; Thomas McDonald, Managing Partner, Jaguar Growth Partners Following the closing of its inaugural fund today, Dec. 1, LAVCA spoke with new Member firm Jaguar Growth Partners about their strategy to invest in real estate in LatAm, including two recent investments: An Andean region logistics company; and a shopping center in Brazil. Managing Partners Gary Garrabrant and Thomas McDonald also discuss how the recent US election is affecting their strategy in the region. Read more » Back to top LP Profile: Timothy Yates, Managing Director, Commonfund Capital LAVCA spoke with Timothy Yates, Managing Directory of Commonfund Capital about their commitments to LatAm dedicated funds, including ~US$70m to four GPs in the last five years, and how the the region’s macro-economic state is a compelling entry point for new capital. Read more »
Entrepreneur Profile: Simón Borrero, Co-founder & CEO, Rappi LAVCA spoke with Simón Borrero, Co-founder and CEO of Colombian delivery startup Rappi, who raised over US$9m from international VCs in April 2016. Investors included monashees+, in their first Colombian investment; and Andreessen Horowitz, one of the biggest names in American venture capital, in their first investment in a Latin American startup. In the interview, Borrero discusses: Why they think on-demand delivery works better in emerging markets How they convinced Andreessen Horowitz to invest How they look at Rappi as a tool for social inclusion Read more » Back to top
Deals & Latest Industry News
Private Equity Axxon Buys Stake in Usaflex (em português) (Valor Econômico) WSC Participações, controlled by private equity firm Axxon Group, has purchased a 69.76% stake in Brazilian footwear company Usaflex.
Read full story » St. Marche Receives Investment From L Catterton (em português) (Press Release) L Catterton has increased its stake in São Paulo St. Marche supermarket chain to 52% for R$226m.
Read full story » Acon Investments Acquires Stake in Dori Alimentos (Press Release) Acon Investments has acquired an equity stake in Dori Alimentos, a candy and snack distributor based in São Paulo.
Read full story » Victoria Capital Partners, UTIMCO, FMO, and IFC Invest in Grupo Los Grobo (Press Release) Victora Capital Partners has led an investment of US$100m in Argentinian agribusiness company Grupo Los Grobo alongside UTIMCO, FMO, and the IFC.
Read full story » Aqua Capital Acquires DellMare (em português) (Valor Econômico) Aqua Capital’s Geneseas, a Brazilian fish supplier, has merged with shrimp supplier, DellMare.
Read full story » Venture CapitalRedpoint eventures Invests in Pismo Soluções Tecnológicas (em português) (LexLatin) Redpoint eventures has acquired a 24.32% stake in Brazilian startup Pismo Soluções Tecnológicas, which provides SaaS payment processing solutions, for R$3m.
Read full story » Venture Capital Launches Angel Investor Network (en español) (Diario Financiero) Venture Capital, a group that seeks to educate and connect investors with opportunities, has launched an angel network in Chile with the support of Corfo.
Read full story » Oikocredit Boosts Stake in Bolivia’s Banco Fie (Press Release) Social investor Oikocredit has increased its stake in Bolivian microfinance loan provider and bank, Banco Fie, more than doubling Oikocredit’s investment in the institution.
Read full story » BZPlan Partners with WOW Aceleradora to Invest R$50m in Startups (em português) (Baguete) BZPlan is searching for startups in the south of Brazil to invest a total of R$50m. It has partnered with WOW Aceleradora to support startups that participate in the program and identify opportunities for investments.
Read full story » IGNIA Leads Investment Round in Mexico’s Sr. Pago (en español) (Press Release) IGNIA has invested an undisclosed amount in Mexico-based mobile payment solutions app Sr. Pago, which allows any business to accept payments from a debit or credit card via tablet or smartphone.
Read full story » 500 Startups Invests R$500m in Idwall (em português) (ITForum 365) 500 Startups has invested in Brazilian startup Idwall, an artificial intelligence software that detects fraudulent documents and verifies identity.
Read full story » Axon Partners Group & Velum Ventures Invest in Busqo.com and Asegúrate Fácil (en español) (Press Release) Colombia’s Busqo.com (formerly RedSeguro) and Asegúrate Fácil have merged to form one of the largest online insurance groups in Latin America.
Read full story » UNICEF Makes Venture Capital Investments in Emerging Market Tech Startups (UNICEF) UNICEF has invested in Nicaragua’s Saycel, which provides affordable mobile connectivity to communities in rural areas.
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