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| 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.
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Earlier this month, Mexico elected Andres Manuel Lopez Obrador President with over 53% of the vote, more than double the total of his closest rival, according to the country's electoral commission, and more than any candidate since the nation began its transition to democracy nearly 20 years ago.
Despite the President-elect’s populist platform, there has been an active outreach by AMLO to private sector business leaders in Mexico and globally as he organizes his cabinet ahead of formally entering office on Dec. 1, 2018.
“…AMLO has a history of working with the private sector, and has appointed a respected representative to handle negotiations of the North American Free Trade Agreement,” according to the New York Times.
The Mexico Keynote Breakfast, with support from AMEXCAP and Fondo de Fondos, during LAVCA Week 2018 will include a first-hand update on what to expect from the new administration. For more information about LAVCA Week 2018 and to REGISTER, click here.
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General REGISTRATION is now open for LAVCA Week (September 24-27, 2018). Attendees include private capital investors from Latin America and around the globe, such as fund managers, institutional investors, family offices, development finance institutions, sovereign wealth funds, fund of funds, corporates, and secondaries.
Activities are organized around two programs: the LAVCA Summit & Investor Roundtable Private Equity Program (September 24-26) and the LAVCA Venture Investors Annual Meeting (September 27).
The 2018 LAVCA Week agenda also includes a separate program exclusive to family offices (September 24), an LP-only breakfast hosted by ILPA (September 26), a dedicated afternoon program for real estate investors (September 26) and NEW IN 2018, a half day ILPA Institute Workshop (September 27) for pension funds, insurance companies, and other qualified institutional investors.
Contact Leah Galamba with program and registration-related questions.
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The PRI launched guidance on ESG monitoring, reporting and dialogue in private equity. The guidance:
- Builds the business case and provides context for the increasing requests for ESG disclosure in private equity;
- Gives an overview of how LPs are currently monitoring GPs on ESG integration and how they use the information that they receive;
- Proposes a flexible ESG monitoring and reporting framework that builds on existing information collected during fundraising and streamlines the information exchange, and is supported by examples of how GPs might respond to the disclosure requests.
LAVCA, alongside other industry associations, provided consultation and support for these guidelines.
Access additional ESG guidelines here. Access over 45+ PE and ESG deal cases from Latin American investors, as well as fund managers who have been selected for the Latin American PE and ESG Awards here. To participate in the 5th edition PE Deal Book and ESG Cases, contact Natalia Valencia.
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Private Equity News
Vinci Partners Acquires 70% of Brazilian CURA Imagem e Diagnóstico Group (em português)
(LexLatin) Vinci Partners acquired a 70% stake in Brazilian healthcare diagnostics group CURA Imagem e Diagnóstic for an undisclosed amount. Read more
Aqua Capital Acquires Majority Stake in Brazilian Cheese Producer Lac Lélo (em português)
(Valor Econômico) Aqua Capital acquired a majority stake in Brazil’s Lac Lélo, a cheese producer located in the West of Santa Catarina state, for R$100m. Read more
Darby Private Equity Exits Brazilian Fuel Distributor Ale Combustíveis (en español)
(LexLatin) Darby Private Equity has fully exited Brazilian fuel distributor Ale Combustíveis with a sale to Glencore Brasil. Darby had an 18% equity stake in the company. Read more
Nexxus Iberia Invests in Spanish Telecom Provider Fuertes Gimeon Comunicaciones SL
(Press Release) Nexxus Iberia, a fund affiliated with Mexico’s Nexxus Capital, closed its first investment in Spain’s Fuertes Gimeno Comunicaciones SL, which provides services to telecom carriers and equipment vendors for the deployment, maintenance, upgrade and optimization of mobile and fixed networks. Read more
Alta Growth Capital Completes Investment in EAS Systems
(Press Release) Alta Growth Capital completed an investment in EAS Systems, a provider of loss prevention services for the retail industry in Mexico, Central America, and Colombia. Read more
Glisco Partners and Discovery Capital Management Raise $US72m with Cerpi (en español)
(Press Release) Mexican private equity firm Glisco Partners and independent investment management firm Discovery Capital Management listed a CERPI (Certificado de Proyectos de Inversión) on Mexico’s stock exchange (BVM, raising US$72m in its first issuance. The CERPI is seeking to raise up to US$800m to invest directly or indirectly in one or more Glisco Funds, which include medium-sized and innovative companies, as well as in Discovery Funds which consider mature companies with plans to make Initial Public Offerings in international markets within the next five years. Read more
Angra Partners Seeks to Raise R$3b in Funds (em português)
(El Economista) Brazilian private equity firm Angra Partners seeks to raise R$1b for a PE fund and R$2b for a credit-oriented fund, which will mainly invest in convertible debt. Read more
Portland Private Equity Makes Follow-on Investment in Diverze Assets
(The Gleaner) Portland Private Equity’s Caribbean Fund II has increased its stake in Chukka Caribbean Adventures Limited and Tropical Batteries with the purchase of additional shares in holding company Diverze Assets, Inc. Read more
Cobalt Broadband Services Closes Major Financing with Credit Suisse Asset Management
(Press Release) Cobalt Holdings closed a substantial credit facility with the Mexico Credit Opportunities Fund II, managed by Credit Suisse Asset Management. The wireless broadband developer will accelerate its development of its 180km fiber-optic broadband network from Cancun to Tulum. Read more
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 Venture Capital News
Dalus Capital Leads US$3m Series A in Argentine Mobile Sales Solution Sirena
(Press Release) Dalus Capital led a US$3m Series A investment in Sirena, an Argentine mobile sales solution, with participation from NXTPLabs and unnamed local funds. Read more
Elevar, Omidyar, and The Rise Fund Invest Series A in Argentina's Grupo VI-DA
(Press Release) Elevar Equity, Omidyar Network, and The Rise Fund announced an undisclosed Series A investment in Grupo VI-DA, an Argentinean digital literacy and education company. The investment was through Grupo VI-DA's early stage co-investment partnership with Elevar. Read more
Astella Investimentos Makes US$1.5m Seed Investment in Brazilian CRM SumOne (em português)
(Press Release) Astella Investimentos made a US$1.5m seed investment in SumOne, a CRM for small retailers. Read more
Brazilian Big Data Analytics Platform Priced Receives US$2m Series A
(Press Release) An unnamed family office made a US$2m Series A investment in Priced, a Brazilian big data analytics platform for retail. Angel investor Leonardo Teixeira previously made a seed investment in 2015. Read more
Sinai Ventures, Mexamerica Ventures, and Others Invest US$1.4m in Mexican Fintech Flint (en español)
(Press Release) Sinai Ventures, Mexamerica Ventures and others made a US$1.46m investment in Flint, a Mexican mobile wallet app that was accelerated at Y Combinator in 2018. Read more
ALLVP and Mountain Nazca Exit Mexican Petcare E-commerce Platform Petsy
(Press Release) ALLVP and Mountain Nazca exited Petsy, a petcare ecommerce platform, through a merger with Mexican pet retailer Maskota. Read more
Wayra Brasil Announces Investments in New Startups
(Press Release) Wayra Brasil announces investments in Back4App, Getup Cloud, RankMayApp, Social Miner and DB18. Read more
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 Real Estate News
Paladin Realty Adds Investment Manager Alvaro Rodgriguez to Mexico City Team
(Press Release) Paladin Realty, LLC, announced that it has hired Alvaro Rodriguez to join its Mexico City office as an Investment Manager. The LatAm focused fund manager says that Rodriguez will focus on the acquisition and management of the firm's property investments in Mexico. Read more
Sordo Madaleno Goes for MXN$7.5b on Mexico’s BMV (en español)
(El Economista) Mexican real estate firm Grupo Sordo Madaleno plans to list a MXN$7.5 billion CERPI (Certificado de Proyectos de Inversión) on Mexico’s Stock Exchange (BMV) to invest in office, retail, hospitality, industrial, residential, and mixed-use projects. Read more
OLX and Properati Join Forces in Latin America
(Press Release) OLX, a global classifieds marketplace backed by Naspers, and Properati, a real-estate marketplace with operations across Latin America, will merge its operations in Argentina and 13 other countries in the region. Properati will continue to operate independently in Brazil, Chile and Mexico. Previous venture capital investors in Properati include NXTP Labs and NEVEQ. Read more
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LatAm Infra Leadership Forum
Hosted by CG/LA | July 24 - 26, 2018 | Miami, Florida
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GIIN Investor Forum
Hosted by GIIN & PEI | October 30-31, 2018 | Paris, France
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WeXchange
Hosted by FOMIN | November 6-7, 2018 | Lima,Peru
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FLII Central America and the Caribbean
Hosted by Alterna & New Ventures | November 7-8, 2018 | Antigua,Guatemala
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Women's Alternative Investment Summit
Hosted by Falk Marques | November 8-9, 2018 | New York,NY
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Inside Private Equity: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 12-15, 2018 | Miami, Florida
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LAVCA Member & LP Reception
Hosted by LAVCA & Advent | September 24, 2018 | New York, NY
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Family Office Program & Dinner
Hosted by LAVCA | September 24, 2018 | New York, NY |
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Summit & Investor Roundtable
Hosted by LAVCA | September 24-26, 2018 | New York, NY |
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ILPA LP-Only Breakfast
Hosted by LAVCA & ILPA | September 26, 2018 | New York, NY |
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Real Estate Program
Hosted by LAVCA | September 26, 2018 | New York, NY |
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ILPA Institute Workshop
Hosted by LAVCA & ILPA | September 27, 2018 | New York, NY
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Venture Investors Annual Meeting
Hosted by LAVCA | September 27, 2018 | New York, NY |
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VC & Tech After Party
Hosted by LAVCA & Riverwood Capital | September 27, 2018 | New York, NY |
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell. |
Latin American Private Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
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