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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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Building on the success of VC training programs in New York, Silicon Valley, Buenos Aires, and Santiago, LAVCA will host two Family Office/VC Workshops next month:
>> Medellin, Nov. 12 at RutaN
CONFIRMED Fund Manager Q&A with Rodrigo Baer, Partner, Redpoint eventures
>> Santiago, Nov. 14 at Carey Abogados
CONFIRMED Fireside Chat with Chaq Cuevas, Co-Founder, Cornershop
Dan Green, a partner at Gunderson Dettmer, will also host a two-part legal deep-dive on a range of key topics including fund formation, considerations around company formation and legal structures, term sheet best practices, key issues in founder/early employee stock plans, key issues around Intellectual Property, and pitfalls to avoid. Additional practitioner faculty to be announced.
LAVCA thanks lead sponsor Amazon Web Services, Inc., as well as the Latin American Tech Growth Coalition, Gunderson Dettmer, and hosts RutaN and Carey for their support to deliver practical training to Latin America’s emerging cohort of tech investors.
Participation is by invitation only. Qualified investors may contact Julie Ruvolo (jruvolo@lavca.org) to request an invitation.
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Institutionalizing Governance, Leadership & Culture is vital for the success and continuity of fund managers and private capital investors in Latin America.
Scott Voss, Managing Director of HarbourVest Partners, will lead a session during LAVCA/MIT Inside Private Equity: Deal Making in Latin America on:
1. Understanding the key elements for managing an institutionalized PE firm.
2. Gaining insight into how to evolve from a small team to an institutionalized PE firm.
3. Identifying how to source and develop talent that fits with firm culture.
4. Learning the key elements in promoting, developing, and retaining talent.
5. Identifying the key elements in governance and compliance.
The deadline for investors and PE industry professionals to apply for the program, taking place in Miami, FL on November 20-23, 2019, is approaching. SUBMIT applications by November 8, 2019 at 11:59pm.
Additional practitioner faculty, includes:
- Daniel Sterenberg, Managing Director, The Carlyle Group
- Cipriano Santisteban, Partner, Linzor Capital
- Manuel García Podestá, Director, Advent International
- Martín E. Díaz Plata, Managing Partner, Capital Group Private Markets
- Jesús Argüelles, Director of Investments, Irvine Foundation
- Laura Jaguaribe, Private Equity Director, Península Participações
- Ksenija Jovanovic, Vice President, External Management, Aflac Global Investments
- Charles R. Daugherty, Managing Partner, Stanwich Advisors
APPLY NOW or visit the website for more information.
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SAVE THE DATE for LAVCA Week 2020 scheduled for September 14-17.
The 2019 event had record participation with 600 professionals including 70 LPs registering to attend the various investor meetings and activities:
>> ILPA Institute Pension Fund Training
>> Family Office Program & Dinner
>> Member & LP Reception
>> LAVCA Summit PE & Real Assets Program
>> ILPA LP Breakfast
>> Tech Growth Coalition Meeting
>> LAVCA VIP VC/Tech Welcome Reception
>> Venture/Tech Annual Meeting
>> VC/Tech Party
Access details and photos 📷 from the 2019 Summit & Investor Roundtable and from the 2019 Venture Investors Annual Meeting.
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Private Equity News
Ardian Infrastructure Purchases Stake in Peruvian Solar Power Plants from Solarpack
(IREI) Ardian Infrastructure purchased a 49% stake in two Peruvian Solar Power plants from Spanish renewable energy company SolarPack for US$31m. SolarPack will continue to run the operations of the two solar plants. Read more
Bela Vista Investimentos Announces Investment in Roots to Go
(Press Release) Brazilian PE firm Bela Vista Investimentos announced an investment into healthy food producer Roots to Go. Financial terms of the investment were undisclosed. Read more
Alta Growth Capital and Others Invest in Mexico’s Lottus Education
(Press Release) Alta Growth Capital, Stella Maris Partners, Credit Suisse’s Mexico Credit Opportunities Fund, and others made an undisclosed investment in Lottus Education, a Mexican platform for higher education who recently acquired Universidad Latinoamericana. The investment was Alta Growth Capital’s second investment from its third fund. Read more
Statkraft Energias Renovaveis Acquires Brazilian Wind Projects from Salus
(Renewables Now) Statkraft Energias Renovaveis acquired two Brazilian 660 MW wind projects from Salus, a closed-end FIP in Brazil. Read more
Aqua-Spark Invests in Fisher Piscicultura
(The Fish Site) Dutch private equity firm Aqua-Spark invested in Fisher Piscicultura, a Brazilian tilapia farm. Financial terms of the deal were undisclosed. Read more
Mineria Activa Sells Stake in BioLantanidos to Hochschild
(Press Release) Chilean private equity firm Mineria Activa sold its stake in BioLantanidos to Hochschild Mining PLC for US$53.6m. BioLantanidos holds high grade deposits of rare earths important to the production of permanent magnets often used in electric vehicles and clean energy industries. Read more
Partners Group Acquires 50% Stake in EnfraGen
(IREI) Partners Group acquired a 50% stake in EnfraGen a power generation platform that operates in Colombia, Chile, and Panama. With the funds, EnfraGen will continue to expand in Colombia through acquisitions. Financial terms of the deal were undisclosed. Read more
DIF Capital to Acquire Wind Farm in Uruguay from Enercon
(Press Release) Dutch infrastructure firm DIF Capital Partners signed an agreement to acquire the 50 MW Cerro Grande wind farm in Uruguay from Enercon of Germany. Financial terms of the deal were not disclosed. Read more
Royal Vopak Acquires a Minority Stake in SPEC from Baru Capital
(Vopak) Royal Vopak, a tank storage company, acquired a minority stake in SPEC, Colombia’s only LNG import facility from Baru Capital. Read more
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 Venture Capital News
Uber Acquires Cornershop
(Press Release) Uber acquired a majority stake in Cornershop, a Mexican on-demand delivery platform, in its first disclosed startup investment in Latin America. Mexican regulator Cofece nixed Walmart’s US$225m acquisition of Cornershop earlier in 2019, in what would have been the largest VC-backed exit in Chile or Mexico. Read more
Ribbit Capital Leads a R$35m Investment in Gorila Invest (em português)
(Globo) Ribbit Capital led a R$35m investment in Gorila Invest, a Brazilian personal investment management platform, with participation from monashees, Canary, and Iporanga Investimentos. Read more
e.bricks Ventures Leads a R$20m Series A in Labi (em português)
(Brazil Journal) e.bricks Ventures led a R$20m Series A in Labi, a Brazilian network of clinics offering lab exams at accessible prices. Read more
KaszeK Ventures Leads a R$20m Series A in SouSmile (em português)
(Exame) KaszeK Ventures led a R$20m Series A in SouSmile, a Brazilian direct to consumer dental startup, with participation from Canary and Global Founders Capital. Read more
Confrapar Invests R$20m in Ubook
(Exame) Confrapar invested R$20m in Ubook, a Brazilian audiobook company. Read more
KaszeK Ventures Leads a R$7m Investment in Theia (em português)
(StartSe) KaszeK Ventures led a R$7m investment in Theia, a Brazilian family support platform founded by Flávia Deutsch and Paula Crespi. Read more
NXTP Labs Invests US$1.5m in Worcket (en español)
(Infobae) NXTP Labs made a US$1.5m seed investment in Worcket, an Argentine job search platform. Read more
The Yield Lab Invests R$2m in TerraMagna (em português)
(Globo) The Yield Lab invested R$2m in TerraMagna, a Brazilian agtech risk management platform. Read more
MOR Capital, Drone Fund, and Francisco Forbes Invest in Arpac (em português)
(Startupi) Arpac, a Brazilian drone startup for crop spraying, raised R$1.3m from MOR Capital, Japan’s Drone Fund, and angel Francisco Forbes. Read more
Poli Angels Invests R$700k in IDGeo (em português)
(IT Forum 365) Brazilian agtech IDGeo raised R$700k from angel group Poli Angels. Read more
Vox Capital and Kviv Ventures Invest R$6m in VirtusPay (em português)
(Globo) Vox Capital and Kviv Ventures invested R$6m in VirtusPay, a Brazilian consumer lending platform for making e-commerce purchases with installment payments. Read more
FIS Ameris 2.0 Invests in Ciudad Luz (en español)
(Fis Ameris) FIS Ameris 2.0 made an undisclosed investment in Ciudad Luz, a Chilean solar energy distribution platform. Read more
Yunus Invests in Arbusta
(Yunus) Yunus Social Business made an undisclosed investment in Arbusta, an Argentine sourcing and talent development company focused on providing opportunities for low income youth and women. Read more
DOMO Invest, Bossa Nova Investimentos, and GV Angels Invest R$2.2m in Resolvvi (em português)
(Baguete) DOMO Invest, Bossa Nova Investimentos, and GV Angels invested R$2.2m in Resolvvi, a Brazilian customer service platform for compensating flight passengers. Read more
SoftBank Latin America Fund and Grupo Globo Invest in Buser
(Reuters) Brazilian bus ticketing platform Buser raised an undisclosed round from SoftBank Latin America Fund and Grupo Globo, with follow-on from Valor Capital, monashees, and Canary. Read more
Ripple, Pantera Capital, Jump Capital, Coinbase, and Others Invest in Bitso (en español)
(Expansión) Bitso, a currency exchange platform for trading cryptocurrencies with the Mexican Peso, raised an undisclosed investment led by Ripple, with participation from Pantera Capital, Jump Capital, Coinbase, and previous investor Digital Currency Group (DGC). Read more
Credicorp, Expertia Travel, and Others Invest ~US$5m in Independencia (en español)
(Press Release) Independencia, a Peruvian consumer lending platform, raised ~US$5m from Credicorp, Expertia Travel, and others. Read more
Carrefour Brasil Acquires a 49% Stake in Ewally (em português)
(Exame) Retailer Carrefour Brasil acquired a 49% stake in Ewally, a Brazilian fintech building inclusive banking services on the blockchain. Read more
DGF Lead a R$18m Investment in Stilingue (em português)
(Valor) DGF led a R$18m investment in Stilingue, a Brazilian social media monitoring startup, at a reported R$100m valuation. Read more
Banco Santander México, CONTPAQi, and Others Invest MX$250m in Innohub (en español)
(Press Release) Banco Santander México, CONTPAQi and others invested MX$250m in Innohub, a company builder for B2B fintechs. Read more
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 Real Estate News
Patria Announces Acquisition of Vila Olimpia Corporate Building (em português)
(Investimentos e Notícias) Patria Investimentos has announced the acquisition of commercial buildings Vila Olimpia Corporate Building through FII, Its Real Estate Investment Fund. Read more
BHG Signs an Agreement to Acquire a 76% Stake in Novotel (em português)
(Panrotas) Brazil Hospitality Group (BHG) signed an agreement to acquire a 76% stake in Novotel São Paulo Berrin. The Hotel opened in August 2018 and offers 209 rooms. Financial terms of the deal were undisclosed. Read more
MetLife Invests US$314m in Mexican Industrial Real Estate Portfolio
(Commercial Observer) Mexican industrial real estate firm Advance Real Estate has received US$314m from MetLife for the acquisition and recapitalization of a Mexican industrial portfolio. The newly acquired portfolio comprises 57 Class A industrial assets, spanning numerous markets including Querétaro, Mexico City, Silao, Guadalajara, Monterrey, Tijuana and Toluca. There were multiple sellers in the deal; the sellers’ identities were not disclosed. Read more
Blackstone Sells Brazil’s BRE Point to CSHG Logística for US$113.8m (em português)
(LexLatin) Blackstone sold BRE Point, two Brazilian logistics and industrial properties located in the state of São Paulo, to CSHG Logística, a Brazilian fund managed by Credit Suisse Hedging-Griffo Corretora de Valores, for US$113.8m. Read more
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Peru Venture Capital Conference
Hosted by COFIDE | October 16-17, 2019 | Lima
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AMEXCAP VII Mexico VC Day
Hosted by AMEXCAP | October 17, 2019 | San Francisco, CA
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PERE America
Hosted by PEI | October 29-30, 2019 | New York, NY
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Cambridge´s Latin American Business Summit (LABS)
Hosted by University of Cambridge | November 3-8, 2019 | Santiago, Chile
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Scotiabank's Latin America Innovation & Disruption Forum
Hosted by Scotiabank | November 12-13, 2019 | Mexico City, MX
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WeXchange
Hosted by IDB Lab | November 13-14, 2019 | Asunción, Paraguay
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FLII CA&C
Hosted by Alterna and New Ventures | November 13-14, 2019 | Antigua, Guatemala
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The Global Steering Group for Impact Investment Impact Summit
Hosted by GSG | November 18-20, 2019 | Santiago, Chile
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LAVCA Family Office/VC Workshop in Medellin
Hosted by LAVCA | November 12, 2019 | Medellin, Colombia
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LAVCA Family Office/VC Workshop in Santiago
Hosted by LAVCA | November 14, 2019 | Santiago, Chile
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VII Innovation Summit of The Pacific Alliance
Hosted by The Pacific Alliance (Chile,Colombia,Mexico,Peru) | November 20-21, 2019 | San Francisco, California
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LAVCA | MIT Inside PE: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 20-23, 2019 | Miami, FL
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Catalina Santos. |
The Association for Private Capital
Investment in Latin America
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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