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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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A panel of institutional investors selected MAS Equity Partners for the 2018 Private Equity Deal for their investment in dining and entertainment company Inmaculada Guadalupe y Amigos (Grupo IGA), owner of popular Colombian restaurant chain Andrés Carne de Res. MAS Equity Partners led Grupo IGA on an important expansion in Colombia and pan regionally, before selling the company for a 7X return.
Ashmore Management Company Colombia received the award for 2018 Environmental Responsibility in a PE Deal for their investment in transportation company Transambiental
Victoria Capital Partners received the award for 2018 Social Responsibility in a PE Deal for building materials company Corona Industrial
Actis earned the award for 2018 Governance in a PE Deal for their investment in Costa Rican renewable energy company Globeleq Mesoamerica Energy.
Winners were announced during the Latin American Luncheon at the PEI/PRI Responsible Investment Forum in New York on March 20.
Winners were selected based on submissions for The Latin American Private Equity Deal Book & ESG Cases, published with the support of BID Invest.
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LAVCA Members now have access to 2018 LAVCA Industry Data & Analysis which summarizes fundraising, investments, and exits in Latin America for full year 2017. The 40+ page report includes historical trends, sector, stage, and country breakdowns, and year-on-year comparisons.
Driven by increased VC and mid-market activity, Latin America saw a record number of deals in 2017, according to recently released LAVCA Industry Data.
PE/VC investors executed 424 transactions (up from 352 in 2016, 310 in 2015, 306 in 2014, and 233 in 2013), representing the fourth consecutive year with a record number of deals in the region.
Deals totaled US$8.4b, the second largest amount on record only behind the US$8.9b deployed in the region in 2013.
Information technology was the dominant sector in 2017 with US$1.3b committed through 218 transactions. The telecommunications sector ranked second by capital invested due to a handful of large-cap deals, followed by renewable energy. Consumer/retail deals ranked second by deal count and fourth by amount invested.
 Investors were driven by sector-specific opportunities in Latin America, notably in technology, renewable energy, and infrastructure, as well as entry multiples that are compelling in the context of global PE/VC markets. There is significant dry powder available as the region’s economies return to growth, but it is likely that PE firms will be highly disciplined in deploying capital in 2018 in the lead up to presidential elections in Colombia, Mexico, and Brazil." -Cate Ambrose, President, LAVCA
Access a breakdown of the data in the press release, including country-level investment data for Brazil, Mexico, Colombia, Chile, and Argentina, as well as fundraising and exit figures for 2017.
DOWNLOAD the full report here (the US$795 charge is waived for logged in members during checkout. Create a login here).
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VC in São Paulo (May 8): Investors are invited to LAVCA's annual Brazilian investor meeting on May 8 at Google.
Highlighted discussion: Is Brazil the New Global Transportation Frontier? with Federico Vega, Founder & CEO of CargoX and André Florence, departing CFO, 99.
Workshop for Emerging VCs in Argentina (May 16) & Chile (May 17): This half-day program is designed for 1st- and 2nd-time fund managers, new corporate ventures, heads of accelerators, and notable angel investors. with a focus on preparing portfolio companies to receive follow-on capital, as well as a legal deep dive with Gunderson Dettmer Partner Brian Hutchings.
Participation at LAVCA's investor meetings and workshops is by invitation only. Qualified investors may contact Julie Ruvolo (jruvolo@lavca.org) to request an invitation. Access LAVCA's program calendar.
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LAVCA and MIT are partnering on an Inside Private Equity: Dealmaking in Latin America, an executive education program led by the industry’s most seasoned deal makers and esteemed MIT faculty, focused exclusively on Latin America, and rooted in real-life case studies.
“MIT is committed to working with the best and brightest fund managers in Latin America and what better way than to collaborate with LAVCA in this unique program.” - The MIT Sloan School of Management
Prospective attendees include Senior Associates/Vice Presidents, Principals, and Directors from private equity firms, as well as professionals from family offices, corporations, business owners, and institutional investors. Relevant industry participants seeking to transition careers are also welcome to apply. Applicants will be admitted on a rolling basis. Limited seats available.
Course content is divided into two modules: Fund Cycle and Structure and Investing in Companies in Latin America. A sample curriculum is available here.
Over 80 participants have graduated from the program since it was launched in 2015 by LAVCA, initially with academic faculty from Wharton. As a reflection of the overwhelming response to practitioner led learning, LAVCA has increased the number of expert-led modules for the 2018 edition.
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Private Equity News
General Atlantic Receives Approval from Cade to Divest from XP Investimentos
(Reuters) Brazil’s antitrust authority CADE has approved the purchase of a minority stake in financial services broker XP Investimentos by Itaú Unibanco Holding. General Atlantic and Brazilian investment firm Dynamo were backers of XP Investimentos since 2012. Read more
Brookfield Infrastructure Completes Sale of Chilean Regulated Transmission Business
(Press Release) Brookfield Infrastructure has completed the previously announced sale of its interest in Chilean power transmission business ETC Transmission Holdings to China Southern Power Grid International for US$1.3b. Read more
L Catterton Acquires Infant Fashion Chain Baby Cottons (en español)
(LexLatin) Argentine fashion group Rapsodia, which is backed by L Catterton, has acquired international baby fashion boutique Baby Cottons for an undisclosed amount. Read more
Actis Nearing First Close of Long-Life Infrastructure Fund
(PE News) Actis is reportedly nearing a first close of its Actis Long Life Infrastructure, a new long-term infrastructure focused fund that will invest in power-generating assets across Latin America, India, Southeast Asia, and Africa. Read more
CDPQ & IFM Investors Set to Acquire Mexico’s Conmex (en español)
(El Financiero) The European Commission has approved the acquisition of Concessionaire Mexiquense (Conmex) by Canadian institutional investor Caisse de dépôt et placement (CDPQ), and Australian institutional investment manager IFM Investors. Conmex, a subsidiary of construction company OHL Mexico, operates the 110km highway Circuito Exterior Mexiquense, which connects Mexico City’s main access and exit points. Read more
Oria Capital Raises R$71m for Secondary Fund (em português)
(Press Release) Brazilian software-focused private equity firm Oria Capital has announced the final closing and full investment of its debut secondary fund, Oria Tech Secondary 1, which raised R$71m (US$22m). Read more
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Venture Capital News
Syngenta Acquires Brazil's Agtech Startup Strider
(Press Release) Strider, an agtech pest-monitoring platform, has been acquired by agribusiness giant Syngenta for an undisclosed amount. Strider’s investors include monashees+, which led a US$3m Series A in 2016 with Qualcomm Ventures and Barn Investimentos. Read more
e.Bricks Leads Investment Round in Brazilian Fintech Firm Vérios (em português)
(Valor Econômico) e.Bricks Ventures led a R$5.2m investment in Brazilian personal finance startup Vérios, with the participation of accelerator Startup Farm and existing angel investors. Read more
Movile Invests in Payment Solutions Startup Zoop (em português)
(Reuters) Movile made a US$18.3m investment in payment solutions startup Zoop. Read more
IGNIA & ALLVP Invest in Fintech Startup Visor
(Press Release) IGNIA led an undisclosed investment round in Mexican fintech platform Visor. ALLVP and American Express Ventures also participated in the round. Read more
Peruvian Payments Startup Culqi Closes US$500k Seed Round
(Press Release) Angel Ventures Peru led a US$500k seed investment in Culqi, a Peruvian payments startup accelerated by Wayra Peru. Read more
Y Combinator Announces Winter 2018 Batch with 5 LatAm Startups
(Tech Crunch) Y Combinator’s Winter 2018 cohort includes Runa HR, an automated payroll platform in Mexico, Ropeo, a Colombian on-demand fashion service, Flint, a mobile wallet operating in Mexico, Qulture.rocks, a Brazilian enterprise performance management platform, and Tributi (formerly ImpuestoCorrecto), a Colombian automated tax filing platform. Read more
Criatec 3 Invests in Brazilian Edtech Startup Playmove (em português)
(DCI) Criatec 3, a venture capital fund managed by Inseed Investimentos, made a R$2.6m investment in Playmove, a Brazilian edtech maker of interactive games for infants. Read more
Mexico’s Grupo Bimbo to Launch Impact Fund (en español)
(El Economista) Mexican multinational baking company Grupo Bimbo, in collaboration with Fondo de Fondos and Sonen Capital, plans to launch an impact investing-focused Certificado de Proyectos de inversión (Cerpi). The vehicle will have US$75-150m in initial capital. Read more
Inseed Invests in Brazilian Agtech Startup Smartbreeder (em português)
(StartAgro) AGTECH Fundo FIMA, a fund created by BNDES and managed by Inseed, made a R$5m investment in Smartbreeder, an agtech startup specializing in smart crop management software. Read more
Mexican.vc Partially Exits from Edtech Startup Yogome
(Press Release) Mexican.vc partially exits Yogome, a Mexican edtech startup making games for children, returning an 8x cash-on-cash return to the fund. Read more
Promotora Exits Colombian Videogame Developer Brainz
(Press Release) LA-based mobile entertainment company Jam City has acquired the Colombian videogame developer Brainz, a startup backed by local VC firm Promotora. The terms of the deal were not disclosed. Read more
Grupo Valorem Makes R$6m Series A in Brazilian Fintech Par Mais
(Press Release) Brazilian financial solutions firm Grupo Valorem made a R$6m investment in fintech startup Par Mais. Read more
Brazilian Equity Crowdfunding Platform Kria Raises R$3m
(Valor) Equity crowdfunding platform Kria (formerly Broota) raised R$1.6m from Leblon Equities and others, and an additional R$1.4m from investors on its platform. Read more
Finnovista Welcomes 5 Growth Stage Startups to Startupbootcamp Program (en español)
(Press Release) Startupbootcamp Scale FinTech Mexico City, a program for growth stage startups in emerging markets in partnership with Finnovista, welcomes Expediente Azul (Mexico), Facturedo (Chile), Pagamobil (Mexico), Quotanda (Mexico) and Billin (Spain) to its 2018 acceleration cohort. Read more
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Real Estate News
Brookfield & BTG Pactual Swap Office Portfolios (em português)
(Brazil Journal) Brookfield and BTG Pactual have closed a swap of office assets in Rio de Janeiro and São Paulo. BTG Pactual is selling a portfolio that is worth R$1.3b (US$393m) and Brookfield is buying R$719m (US$217m) worth of assets in exchange. Read more
Jaguar Growth’s Thomas McDonald Joins Vesta’s Board of Directors
(Press Release) Jaguar Growth Partners’ Managing Partner Thomas McDonald has been appointed to the Board of Directors of Mexican industrial real estate owner and operator Corporación Inmobiliaria Vesta. Mr. McDonald will also serve on the company’s Investment Committee. Read more
Blackstone Sells Industrial Units to BR Properties (em português)
(Finance News) BR Properties, a portfolio company of GP Investments, has aqcuired four industrial units located in Centro Empresarial Espaço Gaia Ar in São Paulo from Blackstone. Read more
Cerberus to Begin Investing in Brazilian Real Estate Market (em português)
(Exame) Private investment firm Cerberus will begin to invest in the Brazilian real estate market by acquiring distressed mortgages, foreclosed properties, and properties unsold by real estate developers. Read more
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Private Equity Investments in Brazil Breakfast Seminar
Hosted by Brazilian-American Chamber of Commerce | April 4, 2018 |
New York, NY |
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Latin America GRI
Hosted by GRI Real Estate Club |
April 11-12, 2018 |
New York, NY
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2018 Chicago Booth Emerging Markets Summit
Hosted by The University of Chicago Booth School of Business |
April 14, 2018 |
Chicago, IL
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PERE Investor Forum Los Angeles 2018
Hosted by PERE |
April 18-19, 2018 |
Los Angeles, CA
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VC in São Paulo
Hosted by LAVCA |
May 8, 2018 |
São Paulo, Brazil
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20th Annual IFC/EMPEA Global Private Equity Conference
Hosted by IFC & EMPEA |
May 15-16, 2018 |
Washington, D.C.
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2018 ABVCAP Conference
Hosted by ABVCAP |
June 4-5, 2018 |
São Paulo, Brazil
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Proptech Latin American Summit
Hosted by Marketing in Real Estate |
June 7, 2018 |
Santiago de Chile, Chile
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell. |
Latin American Venture Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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