Latin American Private Capital Update - June 23, 2020Latin American Private Capital Update June 23, 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 Board member Rodolfo Spielmann, Managing Director and Head of Latin America at Canada Pension Plan Investment Board (CPPIB), recently shared insights about partnerships with family-controlled businesses as a model for successful long-term investing.
According to CPPIB's analysis, 43% of the largest companies in Latin America are either controlled by a family or a group linked to the founders, indicating that strong governance, stable shareholders, and long-term value creation strategies associated with family-controlled businesses correlate with companies that outperform their indices.
READ the full article. | | |
| LAVCA recently spoke with Rafael Ramirez, Portfolio Manager – Private Equity & Special Opportunities at the Alaska Permanent Fund Corporation, a sovereign wealth fund originally seeded by state oil & gas revenues with a globally diversified US$63b multi-asset class and multi-strategy portfolio.
We have opportunistically been adding to Latin American [allocations] in recent years and expect our exposure to marginally increase as our capital is called.
With a track record of committing to the region's funds over the last decade, Rafael also discusses how the COVID-19 pandemic has led to opportunities for remote due diligence and the strategies that are most attractive in the region in the short- and long-term.
We completed our first virtual onsite post-COVID last month and are in the process of wrapping up our investment and legal due diligence for that specific opportunity… we are confident that we have the right tools in place to properly carry out our investment process on a virtual basis.
READ the full LP Profile. | | |
| Since the COVID19 pandemic began, LAVCA's Tech Growth Coalition members have stepped up with relief efforts in Latin America and globally, through a combination of capital-infused initiatives (including grants and donations), strategic partnerships, and lending tech infrastructure support.
Several Tech Growth Coalition members are also supporting CONECTADOS, a solidarity initiative in the LatAm tech community that connects companies and their employees with enabling organizations to support the Red Cross and healthcare workers.
Read about direct response efforts in-region from AWS, Facebook, Globant, Google, KIO Networks, Mercado Libre, Movile, Microsoft, Qualcomm Ventures, Riverwood Capital, SoftBank, SVB, and Visa here. | | |
| LAVCA in collaboration with CFA Society New York, CFA Institute, and CAIA Association, invites Members to a private webinar interview conducted by LAVCA's CEO, Ivonne Cuello, with CIO of Principal Financial Group México, Juan Veron, on July 13th, at 12:00pm EDT.
The discussion will focus on Afore Principal's perspective, including exposure to alternative investments locally and internationally, and Mexico's macroeconomic outlook.
The webinar is part of the Asset Owner Series™ (AOS), which is a collection of in-person and virtual events from CFA Society New York. For more information about this series, please click here.
LAVCA Members interested in attending virtually, please contact LAVCA ([email protected]).
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Private Equity News
Patria and Leblon Equity Acquire 18% Stake in Brazil’s Alper (em português) (Brazil Journal) Patria Investimentos and Leblon Equities have acquired an 18% stake in Brazil-based insurance company Alper (formerly known as BR Insurance) from businessman Marcelo Lima. Read more
IG4 Acquires Brazilian Infrastructure and Logistics Projects Operator CLI (Press Release) IG4 Capital has acquired CLI, CGG Trading’s infrastructure and logistics projects operator and majority shareholder in Brazil-based grain terminal Tegram. Read more
L Catterton Invests in Brazilian Marketplace PetLove (Press Release) L Catterton made an undisclosed investment in PetLove, a Brazilian marketplace for pet goods. SoftBank invested US$48m earlier this year. Read more
IG4 Capital Acquires Two Hospitals for R$200m (Press Release) IG4 Capital has acquired two Brazilian hospitals through its recently formed OPY Health unit for R$200m. IG4 plans on expanding the number of beds in both hospitals. Read more
Advent International-Backed YDUQS Acquires Grupo Athenas for R$120m (em português) (Press Release) Advent International-backed Brazil-based educational group YDUQS acquired Brazil-based post-secondary educational group Grupo Athenas for R$120m. Read more
Equity International Increases Stake in Estapar (em português) (Valor Econômico) Equity International, through its investment fund Riverside Fundo de Investimento em Participações Multiestrategia, increased its stake in Estapar (Allpark), a Brazil-based company that manages and operates vehicle parking lots. Read more
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Venture Capital News
KaszeK Ventures and Kevin Efrusy Lead a US$20m Round in Remessa Online (Press Release) KaszeK Ventures and Kevin Efrusy led a US$20m round in Brazil-based international money transfer platform Remessa Online. Read more
DEG Leads a US$12m Series B in Brazilian Fintech BizCapital (Press Release) German bank KfW Group’s subsidiary DEG led a US$12m Series B in BizCapital, a Brazilian lending fintech providing credit for small businesses, with participation from MELI Fund, 42k investments, and follow-on from Quona Capital, monashees, and Chromo Invest. Read more
KaszeK Ventures Leads a US$10m Series A in Colombian Proptech La Haus (Press Release) KaszeK Ventures led a US$10m Series A in La Haus, a Colombian proptech for purchasing residential real estate. Read more
monashees, KaszeK Ventures, and ONEVC Invest US$4.6m in Pipo (em Português) (Brazil Journal) monashees, KaszeK Ventures, and ONEVC invested US$4.6m in Pipo, a Brazilian employee health plan management platform, with participation from Nubank’s CEO David Velez. Read more
KPTL Acquires Minority Stake in Gestão Agropecuária (em português) (Startupi) KPTL acquired a minority stake in Gestão Agropecuária, a Brazilian livestock management platform, for an undisclosed amount. Read more
Sofinnova Partners Leads a US$5.6m Series A in Chilean Biotech Protera (Contxto) Sofinnova Partners led a US$5.6m Series A in Protera, a Chilean biotech startup developing a protein to naturally extend food shelf-life, with participation from SOSV. Read more
Global Founders Capital, ONEVC, and Flourish Ventures Invest in Brazilian Fintech Swap (Press Release) Global Founders Capital, ONEVC, and Flourish Ventures made an undisclosed investment in Swap, a Brazilian fintech services provider for enterprises. Y Combinator Partner Brad Flora and iFood Cofounder Patrick Sigrist also invested. Read more
Canary Leads a R$5m Round in Brazilian Proptech Hent (em português) (Exame) Hent, a Brazilian property rental management platform, raised R$5m from Canary. Read more
Canary Leads a R$3m Round in Brazilian Rental Platform Boomerang (em português) (Fusões & Aquisições) Canary led a R$3m round in Boomerang, a Brazilian consumer goods rental platform, with participation from 99 and Yellow founder Ariel Lambrecht. Read more
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Real Asset News
Riverstone Raises MXN$662m via CKD for Energy Investments in Mexico (Latin Finance) Riverstone raised MXN$662m on the Mexican Stock Exchange (BMV) for energy investments in Mexico. The CKD was launched in 2017 for MXN$8b. Read more
SURA and Credicorp Launch a US$86.5m Infrastructure Fund (Press Release) SURA Investment Management and Credicorp Capital Asset Management, together called Unión para la Infraestructura S.A.C (UPI), launched a US$86.5m target equity infrastructure fund focused on Pacific Alliance countries: Colombia, Chile, Peru, and Mexico. Read more
Riverstone to Acquire 80% Stake in Two Mexican Solar Power Plants from Opdenergy (Press Release) Riverstone Holdings agreed to acquire an 80% stake in two Mexican solar photovoltaic plants, totaling 144MW, from Spanish developer Opdenergy. This acquisition will form Vera Renovables, an 80/20 joint venture focused on the development of new renewable energy projects. Financial terms of the agreement are undisclosed. Read more
Abertis and GIC Acquire Majority Stake in Red de Carreteras de Occidente from GSIP (Press Release) Abertis and GIC have acquired a 72.3% stake in Red de Carreteras de Occidente (RCO), a toll road network in Mexico. The transaction was completed by obtaining a 70% stake held by Goldman Sachs Infrastructure Partners (GSIP) and a 2.3% stake held by local investors and pension fund managers (AFORES). 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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