Latin American Private Capital Update - April 20, 2021Latin American Private Capital Update April 20, | | | 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 member Fondo de Fondos, in collaboration with Kearney, recently published Reigniting Growth in Private Equity and Venture Capital in Mexico identifying areas of opportunity to boost investments in the country.
The study includes key factors in private equity and venture capital, macro trends impacting sectors in Mexico, as well as survey results from more than 50 interviews with industry leaders.
As a result, The report presents relevant findings and conclusions on market trends and shares an action plan to strengthen the industry in the coming years.
DOWNLOAD full report here. | | |
| LAVCA, in collaboration with Latin American Tech Growth Coalition member Silicon Valley Bank, invites you to participate in VC Trends in Latin America: A Year into the Pandemic, a virtual discussion featuring the launch of LAVCA’s Annual VC/Tech Report.
WHEN: Thursday, April 22, 2021
TIME: 12:00PM EDT (9:00AM PDT)
WHERE: Webcast
The program will cover top sectors of growth, key deals in the major markets, new unicorns, notable exits and M&A, and the rise of tech SPACS in LatAm, followed by a panel discussion with key players on the future of the industry in the region.
QUESTIONS? Please contact Julia Figueiredo.
ACCESS past editions of LAVCA VC/tech reports. | | |
DOWNLOAD 2021 LAVCA Industry Data and Analysis. The report includes data and insights on fundraising, investment and exit activity from the full year in 2020.
Members receive exclusive access to a summary of key trends and y-o-y comparisons, highlighted deals as well as a 14-tab Excel file with graphs on fundraising, investments, exits and breakouts for the Andean Region, Argentina, Brazil and Mexico.
NEW in 2021! For the first time, the data includes private credit activity, as well as a listing of 300+ notable publicly disclosed transactions and fund closings. In addition, reported investment totals now include contributions by co-investors, as well as acquisition or project financing.
The 2021 Industry Data & Analysis was written and prepared by LAVCA Research Director Miguel Algarin and Research Analyst Emanuel Hernandez. Contact the research team for data-related requests at [email protected].
DOWNLOAD the full Industry Data report and excel file here. Use your existing login or create a login here. Email Catalina Santos at [email protected] for assistance. | | |
| READ the latest deal case featuring Vinci Partners’ investment in Brazil-based medical diagnostics company Diagmax.
In December 2017, Vinci Partners, who has recently made an IPO on the Nasdaq (Ticker: VINP), saw the opportunity in medical diagnostics company Diagmax, based in Recife Pernabuco. Diagmax’s services include magnetic resonances, computed tomography, ultrasonography, x-rays, mammography, laboratory exams, colonoscopy as well as cardiological exams. Diagmax operates mainly in shopping malls, offering customers flexible hours seven days a week.
The third vintage of the Vinci Impact and Return PE strategy, Vinci Nordeste III, invested USD6.5m in Diagmax through a combination of equity and debt, which allowed the founders to minimize dilution.
Vinci acted jointly with the management team to implement an action plan to strengthen the company’s cash position and reduce insolvency risk, given that medical imaging is a cash-intensive business with significant upfront investments and cash conversion cycles often exceeding two months."
A year and a half after Vinci’s investment in Diagmax, Brazilian listed medical diagnostics group Fleury approached the company regarding a possible acquisition to expand their operations in the Northeast. In September 2019, Fleury paid BRL80.4m. (USD19.4m) for the acquisition of 100% of shares in Diagmax, agreeing to pay an additional earn-out of up to BRL31.6m (USD7.6m) if specified milestones were achieved.
DOWNLOAD the case study here.
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Private Equity News
Warburg Exits Brazilian Logistics Operator Sequoia Logística via Follow-On Offering for ~USD121m (em português) (TradeMap) Warburg Pincus has partially exited its stake in B3-listed Sequoia Logística, a Brazil-based logistics operator focused on the e-commerce sector, via a follow-on offering worth BRL894m (~USD158.5m). Warburg Pincus received BRL684m (~USD121m) for its shares. Read more
Riverwood and Oria Capital Exit Mandic via Sale to Claranet (em português) (Neofeed) Riverwood Capital and Oria Capital partially exited cloud and cybersecurity SaaS company Mandic via a sale to Claranet. Read more
SoftBank Led Consortium to Invest USD1b in Televisa-Univision Merger (WSJ) A consortium of investors led by SoftBank and including Google and the Raine Group will invest USD1b in Televisa-Univision, a merger between Mexico-based broadcast and media giant Grupo Televisa and US-based media company Univision. Read more
Oria Capital Reaches BRL500m Final Close for Oria Tech III (Press Release) Oria Capital reached a BRL500m final close for Oria Tech III. Oria Tech III has already deployed 40% of its capital in Gupy, an AI-powered recruiting platform, Knewin, a news and social media analytics platform, and Zenvia, a customer management and communications platform. Read more
IFC to Invest USD20m in HMC Andean Private Debt Investment Fund (en español) (IFC) IFC has agreed to invest USD20m in HMC Deuda Privada Andina, a private debt fund which will provide financing to mid-sized companies in Colombia, Peru and Chile. Read more
Aqua Capital Acquires Rech Tratores for ~BRL100m (em português) (Amanhã) Aqua Capital has agreed to acquired Rech Tratores, a Brazil-based reseller of spare parts for heavy and agricultural machinery, for ~BRL100m. Read more
Sarona Commits USD6m to Oria Capital III (CAFIID) Sarona, a private investment firm focused on emerging markets, has committed USD6m to Oria Capital III fund. Read more
Aqua Capital’s AgroGalaxy Acquires Brazil’s Sementes Campeã and Boa Vista for ~USD9.5m (em português) (Valor Econômico) Aqua Capital’s AgroGalaxy, a holding company bringing together Aqua Capital’s agribusinesses, has acquired the remaining 30% stake in Brazil-based Sementes Campeã for BRL12.3m (~USD2.2m), after acquiring a 70% stake in 2019. AgroGalaxy also acquired Brazil-based Boa Vista for BRL41.3m (~USD7.3m). Read more
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Venture Capital News
Goldman Sachs Asset Management Leads USD23m Series D Extension for E-commerce Olist (em português) (Startupi) Goldman Sachs Asset Management led a BRL100m (USD23m) Series D extension for Olist, a Brazilian e-commerce platform, with participation from Redpoint eventures. SoftBank Latin America Fund led the BRL310m Series D in 2020 and a BRL190m round in 2019. Read more
ALLVP and Mountain Nazca Lead USD20m Seed Round for E-Commerce Holding Wonder Brands (Press Release) ALLVP and Mountain Nazca led a USD20m seed round for Wonder Brands, a Mexico City-based e-commerce holding company looking to acquire and optimize independent brands currently selling in platforms such as Amazon and Mercado Libre, with participation from GFC, QED Investors and angels from Cornershop, Fair Play and Guiabolso. Read more
Valor Capital Group Leads USD20m Series B for Home Care Platform Beep Saúde (Press Release) Valor Capital Group led a USD20m Series B for Beep Saúde, a Brazilian at-home laboratory test and home care platform, with participation from Bradesco, Endeavor Catalyst and David Velez (Nubank), and follow-on from DNA Capital. Read more
QED Investors Leads USD15m Series B for Brazilian Payment Services Provider Hash (Press Release) QED Investors led a USD15m Series B for Hash, a Brazilian payment services provider for companies and SMEs, with follow-on from KASZEK and Canary. KASZEK and Canary invested BRL13m in 2019. Read more
Talipot Holdings Leads USD7m Series A for Peruvian Urban Delivery Platform Chazki (LatamList) Mexican VC Talipot Holdings led a USD7m Series A for Chazki, a Peruvian urban delivery platform, with participation from Chilean retailer Grupo Falabella. NXTP made an undisclosed investment in 2018. Read more
QED Investors Leads USD12m Series A for Mexican Freight Marketplace Nuvocargo (TechCrunch) QED Investors led a USD12m Series A for Nuvocargo, a Mexican freight transportation marketplace managing Mexico-US routes, with participation from FJ Labs, Clocktower, David Velez (Nubank), Michael Ronen (SoftBank), Karim Atiyeh (Ramp), Raymond Tonsing (Caffeinated Capital), Satya Patel (Homebrew) and Sebastian Castro (Kushki), with follow-on from ALLVP, MAYA Capital, Magma Partners, One Way Ventures and Ride Ventures. Read more
KASZEK Leads BRL16m Seed Round for Brazilian Social Commerce Platform Zapt (em português) (Brazil Journal) KASZEK led a BRL16m seed round for Zapt, a Brazilian discount offer social commerce platform, with participation from General Catalyst, Y Combinator, Simon Last (Notion), Pierpaolo Barbieri (Uala) and Daniel Correa (Kapitalo). Read more
MatterScale Ventures and Kayyak Ventures Lead USD3m Pre-Series A for Telemedicine Platform 1DOC3 (TechCrunch) MatterScale Ventures and Kayyak Ventures led a USD3m pre-Series A for 1DOC3, a Colombian pre-diagnosis telemedicine platform. TheVentureCity led a USD2m seed investment in 2018. Read more
Homebrew Leads USD3m Seed Round for Mexico-based Installment Loan Platform Nelo (TechCrunch) Homebrew led a USD3m seed round for Nelo, a Mexico-based B2B zero-interest installment loan platform, with participation from Susa Ventures, Crossbeam, Rogue Capital and Unpopular Ventures. Read more
Confrapar Leads USD2m Series A for Brazilian Private Aviation Platform Flapper (em português) (Startupi) Confrapar led a USD2m Series A for Flapper, a Brazilian on-demand private aviation platform, with participation from equity crowdfunding SMU and angel investor network Investidores.VC. Read more
Barn Investimentos, SP Ventures, Continental Grain Company and Provence Capital Invest USD1.8m in Agrolend (em português) (Valor Ecônomico) Barn Investimentos, SP Ventures, Continental Grain Company and Provence Capital invested USD1.8m in Agrolend, a Brazilian uncollateralized credit platform for small crop farmers. Read more
Genesis Ventures Leads USD1.4m Seed Round For Chilean Logistics Platform Mudango (LatamList) Genesis Ventures led a USD1.4m seed round for Mudango, a Chilean logistics platform for residential and office relocations, with participation from FEN Ventures and Kalei Ventures. Read more
DOMO Invests BRL8m in Brazilian Sales Prospecting Platform Ramper (em português) (Startupi) DOMO Invest invested BRL8m in Ramper, a Brazilian B2B sales prospecting platform with follow-on from Smart Money Ventures. Read more
Draper Cygnus Leads USD1m Seed Round in Argentine Crypto Banking Platform Lemon Cash (Press Release) Draper Cygnus led a USD1m seed round in Lemon Cash, an Argentine crypto banking platform, with participation from Draper University Ventures and Tim Draper. Read more
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Real Assets News
KKR Acquires 20% Stake in Sempra Infrastructure Partners for USD3.4b (Press Release) KKR has acquired a 20% stake in Sempra Infrastructure Partners for USD3.4b, which includes an indirect 100% controlling stake in IEnova (Infraestructura Energética Nova). Read more
LarrainVial and Ingevec Invest USD200m Debt and Equity to Develop Seven Apartment Towers (en español) (Press Release) LarrainVial and Ingevec will invest USD200m of debt and equity to develop seven apartment towers in Chile: three in La Florida, three in Santiago and one in Ñuñoa. Read more
AIMCo Increases Stake in Digital Colony-Backed Highline do Brasil from 10.2% to 20% (Dgtl Infra) Alberta Investment Management Corporation (AIMCo) has announced it will increase its stake in Digital Colony-backed Highline do Brasil from 10.2% to 20%. Digital Colony acquired the company from Patria Investimentos in 2019. Read more
Thor Urbana Launches MXN3.6b Cerpi on the BIVA for Real Estate (en español) (Inmobiliare) Thor Urbana has launched a MXN3.6b Cerpi on the Bolsa Institucional de Valores (BIVA) to fund real estate projects and acquisitions. Read more
Bocel Private Equity Acquires 45.5% Stake in Grupo Alianza Estratégica Portuaria (en español) (RIóN M&A) Mexico-based Bocel Private Equity has announced the acquisition of 45.5% stake in Grupo Alianza Estratégica Portuaria (GAEP), a logistics company that operates in the seaport of Manzanillo, Mexico. Read more
Jaguar Growth Partners Acquires the Real Estate Credit Arm of RB Capital (em português) (Valor Econômico) Jaguar Growth Partners has acquired the real estate credit arm of RB Capital. Read more
Vinci Partners’ V2I Energia Acquires Eólica Mangue Seco 3 and 4 (em português) (Press Release) Vinci Partners’ V2I Energia has acquired Brazilian wind farms Eólica Mangue Seco 3 and Mangue Seco 4 from Petrobras and Wobben. Read more
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| LAVCA Members receive a discount on select events. For information, contact Catalina Santos. |
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Investment in Latin America
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