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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 recently spoke with Víctor Aguilera, Managing Partner of Aurus Capital, about the opportunity for industrial tech and impact in Latin America.
 We saw a trend around these technologies creating massive value when applied to industries in which Latin America specializes (mining, food, etc.)...the sector is aligned with worldwide challenges such as global warming, waste generation, water scarcity, vehicle electrification, and food demand.
Aguilera also talks about the perception around SoftBank's uptick in commitments to the region and how important impact and sustainable investing is for Aurus.
Impact is central for us. The industries we partner with (mining, food, and energy) have a huge footprint in terms of CO2, NOx and other harmful gas emissions, particle emissions, waste generation, fossil energy use, water use, impact to communities, flora and fauna, etc. We believe that these challenges will be solved with new technologies.
READ the full interview.
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Last month investors and business executives participated in the LAVCA | MIT Inside Private Equity: Dealmaking in Latin America program in Miami.
Vice Presidents, Principals, and Directors from private equity firms, family offices and institutional investors, as well as business professionals from North America, Europe, and Latin America participated in sessions facilitated by 12 leading private capital investors and esteemed MIT faculty. Content included original cases on private equity and family office investment transactions and deep dives into deal successes and failures.
Congratulations to those individuals that completed the course from Alta Growth Capital, Australis Partners, CDPQ, Crescera Investimentos, DEG, Fondo de Fondos, Lexington Partners, Megeve Investments, MGM Innova, MLC Australia, Nexxus Capital, Portland Private Equity, RISE Trading Corp, Swisher Dominicana, Versata Capital, and others.
This year LAVCA also awarded two MBA scholarships to Emilio Llosa from the University of Oxford, and Juliana Vargas from the University of Chicago, made possible with the generosity of Linzor Capital Partners.
Stay tuned for updates on LAVCA’s education programs here.
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Download LAVCA's 4th annual Latin American Startup Directory.
Using venture backing as an initial criteria, LAVCA identified all known startups in the region in operation that have reported US$1m+ in funding to LAVCA as of Jan. 1, 2019.
>> There were 331 qualified LatAm startups verified by the LAVCA research team.
>> This list does not include startups that have been acquired or realized an IPO. See a list of highlighted companies that have been acquired/listed, including Stone Pagamentos, Globant, Despegar, and others.
>> Brazil-based startups compose a little over half the Latin American Startup Directory, followed by Mexico, Colombia, Argentina, and Chile.
The Latin American Startup Directory is made possible with support from the Latin American Tech Growth Coalition, including Amazon Web Services, Inc., Facebook, Globant, Google, KIO Networks, Mercado Libre, Microsoft, Movile, Qualcomm Ventures, Riverwood Capital, Softbank, Visa, and Telefonica Open Innovation.
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Private Equity News
CPPIB & Ontario Teachers’ Pension Plan to Acquire 40% Stake in IDEAL
(Press Release) Canada Pension Plan Investment Board (“CPPIB”) and Ontario Teachers’ Pension Plan will acquire a 40% stake in Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. ( “IDEAL”) through a tender offer on the Mexican stock exchange to further invest in key infrastructure projects throughout Mexico. Read more
Patria Investimentos to Exit Argo Energia (em português)
(DCI) Patria Investimentos has signed an agreement to sell its portfolio company Argo Energia to Energía Bogotá of Colombia and Rede Eléctrica of Spain for R$3.5b. The transaction has been submitted to CADE for approval. Argo Energia was created in 2016 by funds jointly invested by Patria and Singaporean sovereign wealth fund Temasek. Argo Energia controls extensive transmission lines that cut across the three Brazilian states of Maranhão, Piauí and Ceará. Read more
IG4 Capital to Purchase Graña y Montero (em português)
(Valor Econômico) Brazil's IG4 Capital has signed an agreement to purchase Graña y Montero one of Peru’s largest infrastructure groups. Read more
CPPIB Acquires Stake in Smart Fit for R$1.07b
(Press Release) CPPIB took a 12.4% stake in Brazilian gym chain Smart Fit for R$1.07b. Read more
Nexxus Capital Exits Krispy Kreme Mexico
(Press Release) Nexxus Capital, through its portfolio company Taco Holding, announced the closed divestment of Krispy Kreme Mexico, which was acquired by Krispy Kreme Doughnut Corporation, the global owner of the brand. Read more
Former Actis Partner Joins XP to Launch PE Fund
(Reuters) Chu Kong a former partner at Actis joined XP Investimentos to aid in their launch of a R$1.25b private equity fund targeting mid-sized Brazilian companies. Read more
PanJam & Portland PE to Acquire Stake in itelbpo
(loopJamaica) PanJam Investment Limited and Portland Private Equity have signed an agreement to acquire a 15% growth stake in itelbpo, a Jamaican business processing outsourcer. Financial terms of the agreement were undisclosed. Read more
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 Venture Capital News
General Atlantic & Banco Votorantim Lead R$400m Investment in Neon (em português)
(Brazil Journal) General Atlantic and Banco Votorantim led a R$400m investment in Brazilian digital bank Neon, with follow-on from monashees, Quona Capital, Flourish Ventures, Propel Venture Partners, and others. Read more
SoftBank Leads US$100m Investment in Konfio
(Yahoo Finance) SoftBank led a US$100m investment in Mexican lending platform Konfio, with follow-on from KaszeK Ventures, QED Investors and Vostok Emerging Finance. Read more
Tencent & SoftBank Lead US$150m Series C in Ualá
(TechCrunch) Tencent and SoftBank led a US$150m investment in Ualá, an Argentine mobile banking app. Tencent made an undisclosed investment earlier in 2019. Read more
SoftBank Leads US$140m Investment in VTEX
(TechCrunch) SoftBank led a US$140m investment in VTEX, a Brazilian ecommerce SaaS platform, with participation from Gávea Investments and Constellation Asset Management. Read more
Redpoint eventures Invests R$50m in Housi (em português)
(Exame) Redpoint eventures made a R$50m investment in Housi, a Brazilian property rental platform that spun out of Vitacon, a Brazilian real estate developer. Read more
Redpoint eventures & Canary Leads US$3.5m Investment in Mediação Online (em português)
(Epoca Negócios) Redpoint eventures and Canary led a US$3.5m investment in Mediação Online, a legal dispute mediation service for Brazilian businesses and consumers. Read more
Confrapar and Lorinvest Leads a US$7m Investment in Fielo
(Press Release) Confrapar and Lorinvest led a US$7m investment in Rio de Janeiro-based Fielo, a Salesforce-native CRM platform for incentive/loyalty programs, to expand its presence in Brazil and the US. Read more
Tiger Global Leads US$5.5m Investment in Habi
(Press Release) Tiger Global led a US$5.5m seed investment in Habi, a Colombian proptech startup, with participation from Homebrew and Zigg Capital. Read more
Redpoint eventures Leads US$1.12m Investment in Vittude
(Forbes) Redpoint eventures led a US$1.12m seed investment in Vittude, a Brazilian healthtech developing an online therapy platform for businesses to offer their employees, with participation from Superjobs Ventures. Read more
Engie Factory, Alaya Capital & Albi Lead Investment in Inti Tech
(Press Release) Engie Factory, Alaya Capital Partners, and Albi Investments led an undisclosed investment in Inti Tech, a Chilean robotics startup. Read more
Alaya Capital Invests in Filadd (en español)
(Press Release) Alaya Capital Partners made an undisclosed investment in Filadd, an Argentina-based edtech for university students. Read more
Redwood Ventures Invests in Parco (en español)
(Press Release) Redwood Ventures led an undisclosed investment in Mexico-based payments app Parco, with participation from Poligono Capital and others. Read more
BASF Venture Capital Invests US$4m in SP Ventures (em português)
(Olivre) BASF Venture Capital invested US$4m in SP Ventures¹ AgVentures Fund II. Read more
Nestlé Invests in Angel Ventures (en español)
(Press Release) Nestle made an undisclosed investment in Angel Ventures to invest in food tech startups in the Pacific Alliance. Read more
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 Real Estate News
CPPIB and Cyrela's Joint Venture Buys Two Towers in JK Iguatemi Complex (em português)
(Brazil Journal) Cyrela and CPPIB’s joint venture bought two towers in the JK Iguatemi Complex in São Paulo for R$1.05b. One of the towers is the headquarters of Amazon Brazil. Read more
Avante Financial Group Acquires Retirement Facilities from Ambar Residence Group
(Press Release) Chilean-Colombian financial firm Avante Financial Group acquired two retirement facilities in Santiago, from Ambar Residence Group for ~US$35.5m. Read more
Finsa to Launch its 3rd CKD on the Mexican Stock Exchange (en español)
(El Economista) Mexican industrial real estate developer Finsa plans to launch its third CKD on the Mexican stock exchange (BMV) next year hoping to raise MXN$10b. Read more
Walton Street Capital and Fibra Uno Acquire 74 Industrial Buildings for US$841m (en español)
(El Financiero) Walton Street Capital investment fund and Fibra Uno acquired a portfolio of 74 industrial buildings for US$841m developed by Finsa in Mexico. Read more
CDPQ’s Affiliate Ancar Ivanhoe Sells a 45% Stake in Natal Shopping (em português)
(Tribuna do Norte) CDPQ’s Brazilian affiliate Ancar Ivanhoe sold a 45% stake in Natal Shopping, a shopping mall in Natal to a real estate fund controlled by XP Investimentos. Ancar Invanhoe will retain a 55% stake in Natal Shopping. The financial terms of the transaction were undisclosed. Read more
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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
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