Latin American Private Capital Update - January 21, 2020Latin American Private Capital Update January 21, 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 is expanding our VC/tech coverage and is seeking a talented, manager-level candidate to join our team out of New York.
The candidate will join a dedicated, high-energy team of individuals with an outstanding track record. The culture is supportive and team-oriented; at the same time, in common with the industry that the team serves, standards are extremely high and excellence is a daily requirement.
Qualification requirements:
✔️ Excellent communication skills (written and verbal) in English, as well as Spanish and/or Portuguese, with sharp attention to detail & context
✔️ Strategic thinking, highly organized self-starting mentality, ability to work independently
✔️ High level of personal and professional integrity, trustworthiness, strong work ethic, and interpersonal skills
✔️Experience presenting to senior leadership team, board, clients, and other stakeholders
✔️A passion for how tech is changing Latin American lives for the better
How to apply:
☑️Submit a current resume, LinkedIn profile, and cover letter explaining your interest in the role and your experience vis-a-vis the job description to [email protected].
☑️Submit at least two published writing samples (eg feature, interview, analysis)
To READ more about about skills, attributes, duties and responsibilities, click here. | | |
| Female investors in early-stage tech are underrepresented in Latin America as they are globally. Among entrepreneurs, only 17% of venture-backed startups globally have a female co-founder, and globally, they capture only about 3% of the VC funding.
In an effort to raise the visibility of female investors in early-stage technology in Latin America, LAVCA has published an updated list of the Top Women Investing in Latin American Tech, as well as the second annual list of ⭐ Emerging Women Investors in Latin American Tech.
The 88 investors represented on the Top Women list and the 89 investors represented on the Emerging Women list in 2019 represents a 7% and 89% increase, respectively, over 2018.
👀 VIEW the Top Women Directory.
👀 VIEW the Emerging Women List.
LAVCA’s gender diversity content is made possible with support from IDB Lab, Member of the IDB Group.
ℹ️ More profiles of leading female founders and investors available at LAVCA.ORG/WOMEN
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| LAVCA recently spoke with Víctor Aguilera, Managing Partner of Aurus Capital, about the opportunity for industrial tech and impact in Latin America.
We saw a trend around these technologies creating massive value when applied to industries in which Latin America specializes (mining, food, etc.)...the sector is aligned with worldwide challenges such as global warming, waste generation, water scarcity, vehicle electrification, and food demand.
Aguilera also talks about the perception around SoftBank's uptick in commitments to the region and how important impact and sustainable investing is for Aurus.
Impact is central for us. The industries we partner with (mining, food, and energy) have a huge footprint in terms of CO2, NOx and other harmful gas emissions, particle emissions, waste generation, fossil energy use, water use, impact to communities, flora and fauna, etc. We believe that these challenges will be solved with new technologies.
READ the full interview. | | |
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Private Equity News
Victoria Capital Partners and IFC Exit Brazil's Prevaler by Selling Itaú Unibanco (em português) (Época Negócios) Victoria Capital Partners and the International Finance Corporation (IFC) exited publicly listed Brazilian student loan provider Pravaler by selling their remaining shares to Itaú Unibanco. Financial terms were undisclosed but Itaú’s stake in Pravaler increased from 9% to 37.9%. Read more
Advent Acquires Rondobras (Reuters) Advent International acquired auto parts retailer Rondobras in an add-on acquisition. Rondobras will be absorbed by Fortbras, an auto parts maker Advent acquired in 2016. Financial details of the transaction were undisclosed. Read more
Patria Acquires CART (Concessionária Auto Raposo Tavares) (em português) (Valor Econômico) Patria Investimentos acquired CART (Concessionária Auto Raposo Tavares), a highway concession which controls 834km of roads in Brazil. Financial terms of the transaction were undisclosed but Patria plans to invest a further R$500m into the concession over the next four years. Read more
Australis Partners Agrees to a Follow-On Invesment of US$18.4m in Reve Group (en español) (Valora Analitik) Private Equity fund Australis Partners agreed to a follow-on investment of US$18.4m in Reve Group, which owns Colombian supermarket chain Justo & Bueno and coffee shop chain Tostao. This investment will be used to strengthen and consolidate operations of the chains in Colombia and Panama. Read more
Goldman Sachs to Exit Cell Site Solutions (CSS) in a Sale to African Conglomerate IHS Towers (em português) (Isto É Dinheiro) Goldman Sachs will exit Brazilian telecommunications infrastructure company Cell Site Solutions (CSS) in a sale to African telecommunications conglomerate IHS Towers, which is expanding into Latin America. Financial terms of the transaction were undisclosed and the deal is pending regulatory approval. Read more
Denham Capital Commits US$250m to Ceiba Energy (Press Release) Denham Capital, through its international power fund, committed US$250m to Ceiba Energy, which is an owner, developer, and operator of renewable energy and natural gas assets in Latin America. Read more
Kue Capital, Through its IDK Capital Fund, Closed an Acquisition of Grupo TMM's Tugboat Subsidiary (Press Release) Kue Capital, through its IDK Capital Fund, closed the acquisition of the tugboat subsidiary of Grupo TMM in Manzanillo Mexico. This is the first investment from the IDK Capital Fund. Financial details of the transaction were undisclosed. Read more
Stratus Group Acquires Hikari Indústria e Comércio (em português) (LexLatin) Brazilian food production company Alnutry Alimentos, a portfolio company of Brazilian private equity firm Stratus Group, completed the acquisition of Hikari Indústria e Comércio. Financial details of the transaction were undisclosed. Read more
GEF Capital Partners Exits AGV Logística Saúde By Selling to FEMSA-Solistica (Press Release) GEF Capital Partners exited AGV Logística Saúde through a sale to Solistica, FEMSA’s logistics subsidiary. AGV is a Brazil-based logistics and distribution company that specializes in animal and human health product logistics. Read more
BlackRock Lists a Cerpi for US$68.8m (en español) (El Economista) BlackRock listed a Cerpi on the Mexican BMV to raise US$68.8m. The Cerpi will be raised in seven different series which will invest in real estate, infrastructure, and energy, among other sectors. Read more
Oria Capital Completes a US$54m Follow-On Investment in Zenvia Mobile Serviços Digitais (WSJ) Brazilian PE firm Oria Capital completed a US$54m follow-on investment in Brazilian company Zenvia Mobile Serviços Digitais, a provider of digital customer communications platforms. Read more
GEF and Performa Investimentos to Exit Tecverde Engenharia (Press Release) Private equity funds Global Environment Fund (GEF) and Performa Investimentos will exit Tecverde Engenharia, in a sale to E2E, a Chile based joint venture between Etex and Arauco. Tecverde is a Brazilian building company which specializes in wood-frame construction systems. Read more
Accion Exits Banco Compartir (Press Release) Credicorp acquired Banco Compartir, a Colombian microfinance institution, providing an exit to Accion. Read more
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Venture Capital News
Andreessen Horowitz, Vulcan Capital, & Others Invest US$175m Series C in Loft (CrunchBase) Andreessen Horowitz and Vulcan Capital led a US$175m Series C in Brazilian proptech Loft, with follow-on from monashees, Valor Capital, Fifth Wall Ventures, QED Investors, Thrive Capital, at a reported valuation of US$1b. This is the first known investment of Vulcan, the investment arm of Microsoft co-founder Paul Allen, in Latin America. Read more
Finsocial Raises US$125m in Debt Financing From Morgan Stanley (en español) (La Republica) Colombian fintech Finsocial raised US$125m in debt financing from Morgan Stanley to expand its lending capacity. Read more
Tencent & Fondo Pitanga Invest US$50m in Satellogic (en español) (Clarín) Tencent and Fondo Pitanga made a US$50m follow-on investment in Argentine spacetech Satellogic, with participation from IDB Lab. Read more
SP Ventures & Others Invest US$23m in Agrofy (Press Release) SP Ventures led a US$23m Series B in Agrofy, an Argentine marketplace for agricultural supplies, with participation from Fall Line Capital and ACRE Capital, and follow-on from Cygnus Capital. Read more
DILA Capital & Alloy Merchant Finance Invest in Resuelve Tu Deuda (en español) (El Universal) Mexican fintech Resuelve Tu Deuda raised MX$93m (~US$5m) from DILA Capital and an additional MX360m (~US$19m) in debt financing from Alloy Merchant Finance. Read more
Banco BV Invests R$25m in Personal Finance App, Olivia (em português) (Startupi) Banco BV (formerly Banco Votorantim) led a R$25m investment in Olivia, a California-based personal finance app, to fund expansion into Brazil. Olivia was founded by Brazilians Cristiano Oliveira and Lucas Moraes. Read more
Astella Investimentos Leads a R$20m Investment in Kenoby (Contxto) Astella Investimentos led a R$20m investment in Kenoby, a Brazilian SaaS platform for employee recruitment. Read more
ABseed & Order Invest R$10m in Leads2b (em português) (Neofeed) ABseed and Order invested R$10m in Leads2b, a Brazilian client prospecting SaaS platform. Read more
CITES & Others Invest US$2.7m in Biotech Eolo Pharma (en español) (iProUP) Uruguay-based biotech Eolo Pharma raised a US$2.7m Series A from CITES and a group of international investors to fund preclinical trials for an obesity treatment. Read more
Dux Capital Leads Investment in Atexto (Press Release) DUX Capital led a follow-on investment in Atexto, a Mexican developer of chatbot tech for customer service applications, with participation from Redwood Ventures, Avalancha Ventures MC Capital, and others. Read more
DILA Capital Leads Investment in Someone Somewhere (Investing.com) D Capital led an undisclosed investment in Someone Somewhere, a marketplace for Mexican artisanal goods, with participation from PSM, GBM Ventures, Soldiers Field Angels, Unreasonable Capila, and Kalei Ventures. Read more
Cedro Capital and Others Invest R$4.5m in Nucont (Contxto) Cedro Capital led a R$4.5m investment in Brazilian fintech Nucont, with participation from FC Capital and others. Read more
Lightcone Investments, Genesis Capital Ventures, and KFVC Invest in EmpleosTI (Contxto) Lightcone Investments, Genesis Capital Ventures, and KFVC participated in an undisclosed bridge round in EmpleosTI, a Mexico-based tech jobs platform. Read more
Redwood Ventures Invests in Genius Foods (en español) (AMEXCAP) Redwood Ventures led an undisclosed seed investment in Genius Foods, a Mexican foodtech focused on extending the shelf life of food products. Read more
Kinea & Grupo A Acquire 51% Stake in Saber em Rede (em português) (Valor Econômico) PE firm Kinea and Grupo A, a provider of educational materials, acquired a 51% stake in Saber em Rede, an edtech marketplace that connects students with grad school vacancies via independent agents. Read more
Qualcomm & BNDES Invest R$80m in Brazilian IoT Projects (em português) (Baguete) Qualcomm Ventures and BNDES launched a R$160m fund to invest in IoT projects in Brazil. Qualcomm and BNDES will contribute R$80m. Read more
Proeza Ventures Raises US$50m for Mobility Focused Companies (Press Release) Grupo Proeza launched Proeza Ventures, a US$50m CVC vehicle focused on mobility investments. Read more
A5 Capital Partners and Inseed Investimentos to Form KPTL (Press Release) A5 Capital Partners and Inseed Investimentos merged to form a new venture firm called KPTL. Read more
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Real Estate News
Patria to Acquire RE Assets in Vila Olimpia for R$27.5m (em português) (Brazil Journal) Patria Investimentos to acquire RE assets in Brazilian property Vila Olimpia for R$27.5m. Read more
Goldman Sachs Invests R$4.5m in Melhortaxa (em português) (Brazil Journal) Real estate credit marketplace Melhortaxa raised ~R$4.5m from the private equity arm of Goldman Sachs at a reported valuation of R$100m. This is Goldman’s third investment in Melhortaxa through Holding Finizy, which controls Meilleurtaux.com in France. Read more
CPPIB and Cyrela's Joint Venture Buys Two Towers in JK Iguatemi Complex (em português) (Brazil Journal) Cyrela and CPPIB’s joint venture bought two towers in the JK Iguatemi Complex in São Paulo for R$1.05b. One of the towers is the headquarters of Amazon Brazil. Read more
Avante Financial Group Acquires Retirement Facilities from Ambar Residence Group (Press Release) Chilean-Colombian financial firm Avante Financial Group acquired two retirement facilities in Santiago, from Ambar Residence Group for ~US$35.5m. 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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