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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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LAVCA GP Member firms are invited to participate in the next edition of The Latin American Private Equity Deal Book & ESG Cases CALL FOR SUBMISSION.
The first, second, and third editions were produced in 2014, 2015, and 2016 in response to demand from LPs for specific examples of private equity case studies.
A successful track record is an important indicator of the maturity of a private equity market. Again in 2017, LAVCA and a panel of LP judges will select a series of private equity awards to bring recognition to fund managers with successful deal cases in Latin America. Open exclusively to LAVCA Members, any firm who submits a case study to be published in the Deal Book will be automatically considered for the award. See 2016 and 2017 winners.
The LAVCA Deal Book and Award helps illustrate to institutional investors, policy makers, business owners, and other stakeholders the value of private equity in Latin America.
Please complete the ONLINE SUBMISSION FORM. A PDF submission form can be sent to fund managers upon request. Questions can be directed to Natalia Valencia.
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Cornershop is a startup founded by Oskar Hjertonsson, Daniel Undurraga and Juan Pablo Cuevas that is bringing the on-demand grocery delivery model to major cities in Mexico, with over 1,000 orders a day, and over 90% of their order traffic via mobile.
Cornershop is the first startup in Mexico to receive venture funding from Accel Partners including participation in a US$6.7m Series A in 2016 and a recently closed US$21m Series B. Cornershop was first funded by ALLVP in 2015. Other investors include US-based Jackson Square Ventures, European investor Creandum, Grupo Bimbo Family Office, and Endeavor Catalyst.
In this interview with Cornershop CEO Oskar Hjertonsson, we talk about how they explained the opportunity to their investors and their traction to date.
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LAVCA Members and LPs active or interested in Mexico are invited to attend AMEXCAP's 5th Mexico PE Day: Private Equity, Real Estate, Infrastructure & Energy on June 8th in New York City.
Discussion topics will include Mexico's macroeconomic outlook for 2017, the development of the private capital industry, political climate, foreign exchange risk, regulatory environment, entry valuations, among others. It will also highlight the reactions of institutional investors to the national and international economic scenario.
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REGISTRATION will open for members next month to the annual investor gathering during LAVCA WEEK, September 25 - 28, 2017 in New York City.
The LAVCA Summit & Investor Roundtable (PE program) will be held at the Metropolitan Club. The LAVCA Venture Investors Annual Meeting will take place at Tribeca 360.
Download the LAVCA Summit HIGHLIGHTS Book to learn more about last year's PE program.
To view the LAVCA 2017 program calendar, click here. (Additional programs to be announced. Event calendar subject to change.)
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Private Equity News
General Atlantic to Invest in Mexico's Grupo Axo
(Press Release) General Atlantic has agreed to make a strategic investment in Mexican multi-brand retailer Grupo Axo for an undisclosed amount. Read more
Patria & Blackstone BuyStake in Med Imagem (em português)
(Valor Econômico) Patria Investimentos and Blackstone bought a 60% stake in Med Imagem. Read more
Southern Cross & Osorio Capital Acquire Colombia’s Crezcamos (en español)
(Press Release) Osorio Capital and Southern Cross Group acquired a majority stake in Colombian microfinance firm Crezcamos for an undisclosed amount. Read more
Actis' Atlas Acquires Stake in Sola Plant Javiera in Chile (en español)
(LexLatin) Antofagasta Minerals sold a 40% stake in solar plant Javiera to Actis’ Atlas Renewable Energy for an undisclosed amount. Read more
Australis to Acquire Stake in Grupo Disal’s Inversiones Ambientales
(Press Release) Australis Partners Fund reached an agreement with Grupo Disal to acquire 67% of Inversiones Ambientales and Inversiones Emergencias. Read more
Northgate to Invest in Mexican Natural Gas Promoter Natgas Querétaro (en español)
(Investing.com) Northgate Capital México will invest in Natgas Querétaro, a company that promotes the use of natural gas for cars. The terms of the deal were not disclosed. Read more
H.I.G Portfolio Company Cel Lep Acquires Brazilian Coding School MadCode (em português)
(Valor Econômico) Brazilian English language teaching network Cel Lep, a portfolio company of H.I.G. Capital, has acquired coding school MadCode. Read more
Grupo Vector to Raise MXN$1b for First CKD (en español)
(Press Release) By fall 2017, Grupo Vector will list a CKD on the Mexican Stock Exchange to raise additional capital for its debut mezzanine debt fund, which held a first close in 2016. Read more
Blackstone Invests in Brazil's Ascenty
(Press Release) Blackstone Tactical Opportunities Fund has made an equity investment in Brazilian hosting and cloud computing services company Ascenty. Ascenty is also a portfolio company of Great Hill Partners. Read more
DAF Invests US$12m in Chile’s Coexca
(AgFunder News) Danish Agribusiness Fund (DAF) has made a US$12m investment in Coexca, a Chilean pork producer. Read more
Orion Resource Partners & Blackstone Finance Fruta del Norte Mining Project
(LexLatin) Orion Resource Partners and Blackstone Tactical Opportunities Fund financed Aurelian Ecuador's Fruta del Norte mining project for approximately US$450m. Read more
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Venture Capital News
KaszeK Ventures Closes US$200m Latin America Tech Focused Fund
(Press Release) Two months after its initial fundraising, KaszeK Ventures closed its third fund at a cap of US$200m, which will focus on growing the Latin American tech ecosystem. Read more
Japan's Softbank Injects US$100m in 99
(New York Times) Japan’s Softbank bought a minority stake in 99 (formerly 99 Taxis), a Brazilian car sharing company, for US$100m. Investors in 99 include Didi Chuxing, Riverwood Capital, monashees+, Qualcomm Ventures, Tiger Global, and others. Read more
Magma Partners' PropertySimple Receives US$3m to Expand in the US
(Press Release) Real estate portal PropertySimple, formerly PropiedadFacil in Chile, raised US$3m from investors including Magma Partners. Read more
Syndicates Invest in Chile's Keteka, Faro.travel, Monitor & PlieQ (en español)
(Pulso Social) A group of investors on FounderList invested seed capital in Latin American startups Keteka, Faro.travel, Monitor, and PlieQ using the Syndicate investment model popularized by AngelList. Read more
Seaya Ventures, Variv Capital & Endeavor Catalyst Invest US$6.6m Series A in Yogome
(Press Release) Spanish VC Seaya Ventures led a US$6.6m Series A investment in Yogome, a Mexican edtech startup for kids. Other participants included Variv Capital and Endeavor Catalyst. Read more
Bozano & Triaxis Capital Invest R$2.5m in Anti-Fraud Startup Konduto (em português)
(STARTUPi) Criatec 2, a venture capital fund managed by Bozano Investimentos and Triaxis Capital, made a R$2.5m investment in Konduto, a Brazilian anti-fraud company. Read more
Performa Investimentos Injects R$29.9m in UNICOBA Energia
(LexLatin) Performa Invetmentos has invested R$29.9m in UNICOBA Energia, a LED lighting company in Brazil. Read more
Guichê Virtual to Acquire Control of G&M Soluções (em português)
(Estadão) KaszeK Ventures’ Guichê Virtual, a Brazilian startup which specializes in online bus ticket sales, will acquire G&M Soluções for an undisclosed amount. Read more
MIF Invests US$5m in NXTP Labs’ Impact Investing Fund
(Press Release) MIF invests US$5m in NXTP Labs’ Impact Investing Fund for Latin American Tech-Driven Social Enterprises. The investment will be used to accelerate Moni’s growth and expand its product line. Read more
Adobe Capital Exits Mexico’s NatGas
Adobe Capital announced its exit from NatGas Queretaro, a Mexican company that promotes the use of natural gas to power cars. Read more
Grupo RFP Invests US$500k in Peru’s Joinnus (en español)
(Tech Eu) Grupo RFP invested US$500k in Joinnus, a Peru-based mobile and web full-service event platform accelerated by Wayra, the accelerator of Telefonica Open Future_, and UTEC Ventures. Read more
Magma Partners Makes Seed Investment in Awesome Jobs
(Venture Beat) Magma Partners made an undisclosed seed investment in Awesome Jobs, a startup job portal focusing on Latin America. Read more
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Real Estate News
Hines to Invest R$100m in Brazilian Outlets (em português)
(Press Release) American private real estate firm Hines will invest R$100m to enter the Brazilian outlets market. Read more
TC Latin America Partners Acquires 80% Stake in Peruvian Real Estate Project (en español)
(LexLatin) TC Latin America Partners acquired 80% of residential real estate project Villa In El Polo, which is in Lima, Peru. Read more
Jaguar Growth Partners Invests in Corporación Inmobiliaria Vesta
(Press Release) Jaguar Growth Partners has acquired a 5% minority steak in Corporación Inmobiliaria Vesta, an industrial real estate owner and operator in Mexico. Read more
PGIM Real Estate Raises MXN$4.4b for Mexican Private Real Estate Fund
(Press Release) PGIM Real Estate has completed a capital raise of MXN$4.4b for PruMex IV CKD, a closed-end real estate fund investing across various property sectors in Mexico. Read more
Jaguar Growth Partners to Close Final Deal of LatAm Real Estate Fund
(Property Funds World) Jaguar is currently in the process of completing the final deal of its real estate fund, Jaguar Real Estate Partners I (JREP I). Over the past year Jaguar has committed in excess of US$200m to portfolio companies including LatAm Logistic Properties (LLP), Brazilian retail property company Aliansce, and, most recently, Brazilian AEL home builder, Tenda. Read more
Alsis to Launch CKD to Invest in Housing SMEs and SMEs in Other Sectors (en español)
(El Economista) Alsis Funds applied to launch its first Certificado de Capital de Desarrollo (CKD) for up to MXN$4b to make mezzanine investments in SMEs in various sectors, including housing and energy. Read more
Jaguar Growth Partners’ LatAm Logistic Properties Appoints New CFO
(Press Release) LatAm Logistic Properties, a privately-held logistics property company announced the appointment of of Annette Fernandez as Chief Financial Officer. Read more
MetroBuildings Prepares To Build Two Apartment Hotels in Santiago (en español)
(Diario Financiero) Metro Buildings, a joint venture among the CIM Group, Compass Group and Urban, will develop two apartment hotels in Santiago. Read more
Global Logistics Properties Acquires Assets from BR Properties
(LexLatin) Global Logistics Properties has acquired logistics assets from Brazil’s BR Properties. Read more
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ABVCAP Congress
Hosted by ABVCAP |
June 5-6, 2017 |
São Paulo, Brazil
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Mexico PE Day 2017
Hosted by AMEXCAP |
June 8, 2017 |
New York, NY
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Peru Venture Capital Conference
Hosted by UTEC Ventures, MIF, COFIDE |
June 13-14, 2017 |
Lima, Peru
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SuperReturn Emerging Markets
Hosted by SuperReturn |
June 26-28, 2017 |
Amsterdam
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Finnosummit
Hosted by Finnovista |
September 19-20, 2017 |
Mexico City, Mexico
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LAVCA Week: Summit & Investor Roundtable
Hosted by LAVCA |
September 26-27, 2017 |
New York, NY
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LAVCA Week: Venture Investors Annual Meeting
Hosted by LAVCA |
September 28, 2017 |
New York, NY
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LAVCA Wharton Private Equity Professional Development Program
Hosted by LAVCA |
November 13-16, 2017 |
Miami, FL
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell
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Latin American Venture Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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