1H 2024 VC Trends Update - Thank You For Joining

Thank you to the 300+ participants who joined us last week for our 1H 2024 LatAm VC Trends virtual discussion with Silicon Valley Bank on 20 August, and to our esteemed panelists: Jimena Pardo, Managing Partner at Hi Ventures, Rodrigo Baer, Co-Founder & Managing Partner at Upload Ventures, Carlos Kokron, Managing Director at Qualcomm Ventures and Rafa de Haro, Co-Founder & Managing Partner at COMETA. Access the full recording here.

Thank you to Andy Tsao and Nicolas Toroof SVB for our longstanding and continued partnership. 

NOW AVAILABLE FOR DOWNLOAD: LAVCA’s 2024 Latin American Startup Directory & Ecosystem Insights

DATA PORTAL: LAVCA Members can now access our new interactive portalto view, sort and download historical transaction activity, including a directory of over 1,000 startups that have raised USD1m+ in venture funding since 2019. 

Reach out directly to me and Emanuel Hernandez with any requests for additional analysis.

LAVCA in Brazil

Thank you to the community of local investors and investors traveling from abroad for joining us for a series of record-breaking meetings in São Paulo. 

LAVCA Tech Brasil convened 90+ senior partners for curated conversations about Latin America VC and the perspective from global investors actively looking to deploy capital in the region. We thank our speaker faculty for taking part: Carlo Dapuzzo of monashees, David Xu of DiDi Global, Santiago Fossatti of KASZEK, Anthony Giambrone of StepStone Group, Igor Piquet of Endeavor Catalyst and Henrique Uehara of DGF Investimentos. 

A special thank you to Fabio Coelho, President of Google Brazil, for our longstanding partnership and for hosting us, as well as to our Tech Growth Members AWS, MercadoLibre, Qualcomm Ventures, Riverwood Capital and SVB for their continued support. 

Building on the success of LAVCA’s Family Office Meeting at LAVCA Week in New York, we co-hosted an in-region Family Office peer-to-peer program for 40+ families in collaboration with Peninsula Participações. We thank Peninsula and former LAVCA board member Flavia Almeida for hosting us.

We partnered with member Cubo Itaú to host the second edition of Empower, a dedicated dinner in São Paulo for women investors across Latin America to strengthen relationships and share experiences within private capital.

We look forward to seeing everyone at LAVCA Week 2024 in New York from 8-11 October. Early bird ends tomorrow,register now!

Deals

▸ WEB3 | ParaFi Capital led a USD10m Series A for Parfin, a Brazilian web3 infrastructure provider, with participation from Framework Ventures, L4 Venture Builder, B3 stock exchange and Núclea.

• Accenture Ventures invested in June 2023; Framework Ventures led a USD15m round in January 2023. 

▸ AGTECH | Botanical Solutions, a Chilean biotech startup developing solutions for crop nurturing and maintenance, raised USD7.6m from undisclosed investors. 

• Otter Capital led a USD7m Series A+ in August 2023.

▸ HRTECH | Pipo Saude, a Brazilian employee health plan management platform, raised a ~USD6.4m Series A+ with participation from Enseada, Scale Up Ventures, FJ Labs and follow-on from KASZEK, monashees and Thrive Capital.

• Thrive Capital led a USD20m Series A in July 2021; Pipo raised USD4.6m from monashees, KASZEK and ONEVC in 2020. 

▸ HRTECH | QED Investors invested in minu, a Mexican employee wellness platform.

• minu raised a USD10m bridge round and USD20m in debt from Accial Capital in Febuary 2023; FinTech Collective led a USD14m Series A in March 2021.

▸ Lux Capital led a ~USD4m round for Magie, a Brazilian WhatsApp-based payments platform. 

▸ Ábaco Capital, a Salvadoran fintech, raised a USD4m pre-seed round with participation from Caricaco Ventures, Cacao Capital, Innogen Capital Ventures, Invariantes Fund, Mercy Corps Ventures and Bridge Latam. 

• Ábaco Capital raised a USD500k pre-seed round in October 2023.

▸ PROPTECH | Executive Venture Fund led a USD4m round for Andes STR, a Chilean-American short-term rental properties management platform, with participation from Evolution VC and Taram Capital. 

▸ LOGISTICS | Veikul, a Mexico-based mobility and logistics startup, raised a USD3m seed round from First Check Ventures and undisclosed angels. 

▸ FOODTECH | Glisco Partners led an undisclosed round in Wild Foods, a Chilean producer of cereal bears and healthy snacks, with participation from 30N Ventures. 

• BTG Pactual invested USD1.5m in venture debt in March 2022.

▸ HEALTHTECH | SRM Ventures, the CVC arm of Brazilian asset manager SRM, invested ~USD3.6m in Tepmed, a Brazilian financial solutions platform for clinics and hospitals and Vetwork, a Brazilian management platform for vet clinics. 

▸ CRYPTO | Igah Ventures invested ~USD2m in Liqi, a Brazilian tokenization platform for corporates.

• Galapagos Capital led a ~USD2.5m round in September 2024; Liqi raised ~USD5.5m in January 2022.

▸ ONEVC led a USD1.2m seed round for WeHandle, a Brazilian service provider management software, with participation from Grão and VentureHub.

▸ CVC | Shefa, the CVC arm of IRSA Group, led a USD1m seed round for Tucán, an e-commerce, logistics and marketing software for restaurants. 

▸ Antler invested ~USD1m in eight Brazil-based startups: Agrovisia, Elephan, Futuriza, Kolek, Machina Sports, Tistto, ViaVan and Vulkan.

▸ PROPTECH | Positivo Tecnologia led a ~USD560k round for Communy, a Brazilian residential rental management platform, with participation from Bertha Capital and FabriQ Ventures.

• Bossa Invest invested ~USD70k in October 2020.

▸ CLIMATE | Südlich Capital led a USD547k round for Ainwater, a Chilean wastewater treatment startup, with participation from Imagine Group, Buildtech Ventures, Arpegio and Brian Oduor (Batian Peak). 

▸ LOGISTICS | Bossa Invest led a ~USD530k round for Emiteaí, a Brazilian transportation operations management platform, with participation from GVAngels, GR8 Ventures and Bowl Ventures.

▸ Mr. Pink led a USD500k round for Morfy, an Argentine gastronomic guide app.

▸ PROPTECH | Latitud Ventures led a ~USD360k pre-seed round for Pipelmob, a Brazil-based real estate management startup. 

• DOMO led a ~USD450k pre-seed round in May.

▸ ESG | Now, a Brazilian sustainability indicator management platform, raised ~USD300k from DOMO.VC, Sicredi Comunitá, Ventiur and Angels Wallet.

• ESG Now raised ~USD200k in January 2024; Ventiur Smart Capital invested ~USD58k in September 2023.

▸ LEGALTECH | Investidores.vc led a ~USD250k round for EasyJur, a Brazilian legal solutions platform.

▸ SECURITY | Nufi, a Mexico-based identity validation platform, raised an undisclosed round from Semilla Ventures, Magma Partners and Ganas Ventures. 

▸ CROWDFUNDING | Pet Delícia, a Brazilian pet food startup, raised ~USD450k through crowdfunding. 

▸ CROWDFUNDING | Agroforestry Carbon, a Brazilian agroforestry project development startup, raised ~USD200k through crowdfunding. 

▸ ANGEL | Lifebox, a Chilean power skills development startup, raised a USD150k seed round from undisclosed investors. 

▸ ANGEL | Applause, a Brazilian employee incentive management, raised a ~USD530k pre-seed round from undisclosed angels.

People & Programs

▸ LAVCA WEEK EARLY BIRD ENDS TOMORROW |LAVCA Week 2024 is 8-11 October in New York. Register here.

▸ CLIMATE |Salkantay Venturespartnered with Positive Ventures, Savia Ventures and Reciprocal to host From Patagonia to the Caribbean: Seizing the Climate Market Opportunity in LatAm, a curated space for founders and investors on 25 September in New York to discuss opportunities in Latin America for climate investing. Registration is now open. 

▸ Quona Capital is looking for an Analyst to join its investment team in Mexico City. Interested candidates are welcome to apply. 

▸ Congrats to the five startups selected to participate in the second edition of Endeavor ArgentinaScaleUp 2024: Cashea, Deepagro, Atlas, Lara AI and Octopus. 

▸ AI |Grão VC is partnering with AWS and Stripe to conduct a survey on the impact of GenAI in Latin America with investors, corporates and founders. The survey is now open.

▸ CROSSBORDER |IESE, the graduate business school of the University of Navarra, partnered with EU-LAC Digital Accelerator to conduct an initiative to pair European corporates with Latin American startups developing solutions on climate tech, smart production and space technology. Interested founders can find more information here. 

Global Tech

▸ Sign up for GPCA’s Global Tech Brief, a monthly newsletter that covers tech activity in Asia, Latin America, Africa, CEE and the Middle East. 

LAVCA is now part of GPCA, the Global Private Capital Association, and will continue to operate as a parallel membership organization with its own dedicated team and board.