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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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Deal activity in Latin America has been robust over the last 18 months as PE/VC firms deploy the US$17.6b raised for the region in 2014-2015. Over US$8.3b was invested in 2016, and early deal totals for 2017 are on par with last year.
In addition to investors managing Latin American dedicated funds, global firms are stepping up activity.
 Entry multiples are low compared to the US; exchange rates are attractive for those with dollars to invest; and while domestic politics will continue to pose challenges in Brazil, Mexico, and Argentina throughout 2017, uncertainty seems to be giving way to cautious optimism for mid- to long-term stability.
So what trends are driving deals in Latin America today? READ LAVCA President Cate Ambrose's Executive Briefing.
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VC IN São Paulo HIGHLIGHTED SESSIONS
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LAVCA, in partnership with Omidyar Network, Telefónica Open Future_, Silicon Valley Bank, is hosting VC in São Paulo at Google, on May 9, 2017.
This bi-annual, invitation-only program for early-stage fund managers combines a conversational format and experience-based discussions for an interactive curriculum from local and international markets. Highlighted sessions include:
- Q&A with Evan Meyer, Glade Brook Capital Partners (investments include Uber, Airbnb, Tencent, Baidu, Alibaba, and Xiaomi)
- Building Bridges: What Can Brazil Learn From China's Tech Giants?(a discussion led by monashees+ and SVB)
- Undercapitalized Sectors: The Agtech Opportunity - Who is Investing & Why? (a conversation with Aqua Capital, SP Ventures, and Qualcomm Ventures)
- Latin American VC: Insights from LAVCA’s 2017 Venture Data
LAVCA Members will receive a separate invite to a venture capital, private equity investor networking dinner scheduled for Tuesday, May 9. To RSVP to the dinner only, contact Claudia Rosenbloom
Contact Claudia Rosenbloom or Leah Galamba for more information about VC in São Paulo or to see if you qualify to attend.
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LAVCA and the Wharton School of the University of Pennsylvania are partnering for a third year on the Latin American Private Equity Executive Program, taking place in Miami, FL on November 13-16, 2017.
Prospective attendees include Vice Presidents, Principals, and Directors from PE firms, as well as professionals from family offices, and institutional investors. Relevant industry participants seeking to transition careers are also welcome to apply.
The program features sessions led by esteemed faculty from Wharton, including: Stephen M. Sammut, Senior Fellow at the Wharton School and Mauro F. Guillen, Endowed Professor at the Wharton School. Course content is driven by case studies from practitioner faculty, including Managing Directors and Partners from:
- The Carlyle Group
- L Catterton
- Capital Group Private Markets
- Linzor Capital
- Península Participações
- OTPP
Applicants will be admitted on a rolling basis. Completed applications should be submitted as early as possible to reserve your place.
APPLY NOW or visit the website for more information.
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Private Equity News
TRG Acquires Majority Stake in Eco Minera
(Press Release) The Rohatyn Group (TRG) acquired a majority stake in Argentine mining services company, Eco Minera, for an undisclosed amount. Read more
OMERS Announces First Direct Infrastructure Investment in South America
(Press Release) Ontario Municipal Employees Retirement System (OMERS) has made its debut direct infrastructure investment in South America, acquiring a 34.6% stake in Chile's GNL Quintero (GNLQ). Read more
ECOSolar Sells Pipeline to Solarcentury
(Solar Power Portal) Private equity investor ECOSolar has sold a 400MW pipeline in Latin America to UK-based solar developer, Solarcentury. Read more
Atlas Discovery Raises MXN$780m to Invest in Mexico (en español)
(Press Release) Mexican private equity firm Discovery Americas has raised MXN$780m out of a MXN$3.9b target with the issuance of a CKD Read more
L Catterton Asia Combines Newly Acquired Maaji with SEAFOLLY to Create Global Swimwear Business
(Press Release) L Catterton Asia acquired Colombian beachwear brand MAAJI and merged it with portfolio company SEAFOLLY. Read more
Castle Harlan’s CRI Expands into Mexico with Firehouse Subs
(Press Release) Caribbean Restaurant Inc. (CRI), the Puerto Rican Burger King franchisee acquired by private equity firm Castle Harlan, launched an expansion into Mexico as the master franchisee of Firehouse of America. Read more
Advent International’s GTM Acquires Brazilian Chemical Distributor quantiQ
(Press Release) GTM Holdings has acquired Brazilian chemical distributor quantiQ following approval from CADE. Read more
Grupo GTD Consolidates Operations in Peru and Acquires Netline (en español)
(Diario Financierio) GTD, the Chilean telecom company owned by the Casanueva family, has acquired telecommunications company, Netline. Read more
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Venture Capital News
Astella Investimentos and VARIV Capital Exit Ítaro (em português)
(Baguete) Astella Investimentos and VARIV Capital exited Brazilian auto part e-commerce platform Ítaro, which was acquired by Pneustore for an undisclosed amount. Read more
Canary.vc Invests in Rapiddo and Volanty
(Canary.vc) Canary.vc made undisclosed investments in Brazil's moto-delivery service Rapiddo and used car marketplace Volanty. Read more
monashees+, Accel Partners, QMS Capital, and Pointbreak Invest in Neoway (em português)
(LexLatin) monashees+, Accel Partners, QMS Capital, and Pointbreak made an undisclosed investment in Brazilian enterprise software platform Neoway. Read more
Omidyar Network Makes Follow-on Investment in Colombia’s Suyo
(Press Release) Omidyar Network announced an extended round of funding for Suyo, a Colombia-based startup that helps low-income families formalize their houses and land. Read more
Bossa Nova Invests in Nine Startups (em português)
(Proxxima) Bossa Nova Investimentos has made undisclosed micro VC investments in nine startups, ranging from R$100k to R$800k. Read more
Magma Partners Invests in Colombian Fintech Startup Portal Finance
(FINSMES) Magma Partners made an undisclosed investment in fintech startup Portal Finance, which is based in Bogotá, with an office in Santiago. Read more
Bzplan Invests R$3m in Brazilian App MobLee (em português)
(Baguete) Brazilian early stage investor Bzplan invested R$3m in mobile event app, MobLee. Read more
Confrapar Invests in Muxi (em português)
(Baguete) Confrapar will invest up to R$16m in payments platform Muxi, which aims to launch new projects in the technology sector in 2017. Read more
Brazil’s Caixa to Invest in 5 Social Impact Startups (em português)
(Valor Econômico) Caixa Econômico Federal, in partnership with Artemisia, will invest up to R$1m in five fintech startups focused on lower-income clients. Read more
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Real Estate News
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 apart 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
Ford Foundation Commits US$1b to Impact Funds in Developing Countries
(Bloomberg) The Ford Foundation will commit US$1b of its endowment to money managers who invest in affordable housing and financial services for people in developing countries over the next 10 years. Read more
HSI Will Invest in Residential Projects in São Paulo (em português)
(Valor Econômico) Brazilian private equity real estate firm Hemisfério Sul Investimentos (HSI) will invest for the first time in middle and high-income residential projects in São Paulo. Read more
QMS Capital to Focus on Tech and Real Estate (em português)
(Valor Econômico) Alternative investment firm QMS Capital announced it will begin to focus on the technology and real estate sectors of Brazil. Read more
Artha Capital to Launch MXN$6b CKD Vehicle for Real Estate Projects (en español)
(El Economista) Mexican alternative investment firm Artha Capital will issue a new CKD vehicle for MXN$6b through which it plans to invest in hotel and mixed-use projects in the coming years. Read more
Cuestamoras Exits Marriott with Sale to CPG Real Estate and Grupo Enjoy (en español)
(La Nación) CPG Real Estate and Enjoy Group acquired Marriott Los Sueños and Marriott Belén from Costa Rican multibusiness group Cuestamoras. Read more
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VC in São Paulo
Hosted by LAVCA |
May 9, 2017 |
São Paulo, Brazil
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IFC's 19th Annual Global PE Conference in Association with EMPEA
Hosted by IFC and EMPEA |
May 16-17, 2017 |
Washington, DC
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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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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 NY Summit
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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