> President Mauricio Macri and National Secretary of Entrepreneurs and SMBs Mariano Mayer just announced a package of laws to foster entrepreneurship and new company creation. Ley del Emprendedor would allow entrepreneurs to register and open a company online within 24 hours; Ley de Sociedades de Beneficio de Interés Colectivo would be the region’s first legislation to define and recognize businesses with sustainable environmental or social impacts. There are also plans for the creation of ten new funds to provide entrepreneurs access to capital, and legislation to allow public crowdfunding. 

Watch the announcement from Buenos Aires’ Tecnópolis and read on about the proposed legislation. 

> CVentures/Primus invested R$4m in Exact Sales, a sales optimization platform based in Florianopolis, Brazil. 

> InvestTech made an undisclosed investment in Ahgora Sistemas, a Florianopolis, Brazil-based personnel management platform.

> Y Combinator made their first Brazilian edtech investment in Quero Educação, a college comparison and scholarship platform.

> Innova Capital participated in Snapchat’s latest US$1.8b funding round in May.

> FOMIN, a member of the IDB, approved the investment of US$4m in a new angel ventures fund, Fondo Angel Ventures para la Alianza del Pacífico (AVPAF), that aims to offer investment and professional guidance to 25 start-ups and scale-ups in the fintech, health/biotech, farmtech, communication, and consumer products sectors, with high growth potential in the Pacific Alliance.

M&A

> EasyTaxi and 99 Taxis, both of which have received investments from Rocket Internet, Monashees Capital, Qualcomm Ventures, and Tiger Global, are reportedly in merger talks to take on Uber in Brazil. Stay tuned…

> Brazilian internet pioneer Paul Humberg’s fund A5 Investimentos, which has invested in six startups, acquired VC fund W7.

EXITS

> Startup Chile exited India-based startup Profundis, which sold to FullContact, a Colorado-based contact management platform, for an undisclosed amount.

NEWS

> Crise Vira Motor Para Expansão de Startups no Brasil (Leo Branco for Exame)

> La Nueva Fórmula de Innovación de las Grandes Empresas  (Edwin Moreno for Forbes MX)

> While Many On-Demand Food Startups Fail To Deliver, iFood Picks Up US$30m To Expand In Latin America (Jon Shieber for TechCrunch)

> How Brazil's Top Food Delivery Startup Is Meeting Demand During Rio Olympics (Kerry Flynn for Mashable)

> Entrepreneurship In Chile Is Exploding With Products Designed For Impact (Kimberly Holland for LineShapeSpace)

> One Crowdfunding Platform Is Behind 3 Billion-Dollar Startup Exits This Year (Erin Griffith for Fortune’s Term Sheet)

> Alibaba Posts Record Growth As Mobile Revenue Tops Desktop For First Time (Jon Russell for TechCrunch)

INVESTOR POV

> Watch Bessemer Trust’s Adam Ritter and HarbourVest’s McComma Grayson III talk about expected returns in emerging markets at LAVCA’s inaugural VC in NY program. This is the first of a series on Best Practices for Pitching LPs.

> Ben Evans at Andreessen Horowitz says half of all their investments returned less than the original capital deployed, while 6% of deals produced at least a 10X return. 

> Fred Wilson at Union Square Ventures and Brad Feld at Foundry Group talk about being an effective board member and investor, and how painful lessons translate to firm values.

The LatAm Venture Bulletin is a news platform of the Latin American Private Equity and Venture Capital Association.

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