LatAm Venture Bulletin November 2, 2016

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  LatAm Venture Bulletin

fmd with space> The VC community in Latin America is diverse, including women who are playing an active and important role investing in and growing the early stage ecosystem in the region.

LAVCA, in partnership with FOMIN and with contributions from Silicon Valley Bank, Copacabana House Ventures, IGNIA, and the VC community in LatAm, published the first-ever list of Women Investing in Latin American VC.

Investors include 31 senior female investment professionals committing capital to a VC fund, or deploying capital from a VC fund, and 6 female angel investors committing over US$50k to LatAm startups, or investing in multiple significant deals. All have been active in the last five years.

Interested in the role of women in LatAm's early stage universe? Join FOMIN and NXTP Labs for the Annual WeXchange on November 14-15 in Buenos Aires.

> NXTP Labs, RaiCap, Corfo, Endurance Investments, Chile Ventures, and Alaya Capital Ventures have created new funds to fill the gap between early and late stage investments in Chile.

Mexican impact fund Adobe Capital launched its second US$40m investment vehicle. Adobe Mezzanine Fund II (AMFII) will continue to focus on supporting the early growth of social and environmental enterprises in Mexico.

> The International Finance Corporation (IFC) made a US$3m commitment to NXTP Labs as one of its first investments from the US$30m Startup Catalyst initiative, which backs accelerators and seed funds in emerging markets.

> The Multilateral Investment Fund (MIF), in partnership with impact advisory firm Acrux Partners, is looking for a General Partner for a new impact fund for Argentina, Uruguay, and Paraguay. The MIF will anchor the fund. Interested fund managers can get in touch before December 15. Details here.

> VARIV Capital, Jaguar Ventures, FEMSA Comercio, and Conconi Growth Partners led a US$6.6m Series A in Conekta, an online/offline payments startup in Mexico City. INTERESTING READ about the founding engineers and the deal that got them in OXXO stores (the largest convenience store chain in Mexico) in our Entrepreneur Profile with co-founder and CEO Hector Cardenas.

Mexico City-based Pedralbes Partners will invest up to US$2m in Logan, a mobile marketing company in Buenos Aires. NXTP Labs invested previously.

> True Ventures, Kapor Capital, and Precursor Ventures made a US$2m seed investment in Atipica, a California-based recruiting software startup founded by Mexican entrepreneur Laura Gómez.



Movilway, a provider of mobile electronic recharge services and payment systems owned by Grupo Celistics, acquired Diga, a Brazilian prepaid phone credit distributor and mobile chip marketer.



Congrats to Marta Cruz of NXTP Labs, the new President of ARCAP, the Argentine Venture Capital Association (also see Marta's profile in Women Investing in LatAm VC).

> VC in São Paulo (the next evolution of the Brazil Venture Investors Peer Exchange) is scheduled for November 29, 2016. Created by LAVCA in partnership with Omidyar Network, Silicon Valley Bank, and Telefonica Open Future_, the program combines a conversational format with experience-based discussions.

Congrats to GuiaBolso, Kueski, Nubank, VivaReal, and ComparaOnline for making H2 Ventures and KPMG’s 2016 Fintech 100 list of Leading Global Fintech Innovators.

> Congrats to founders Ana Isabel and Rodolfo Corcuera for winning the Mexico Startup Day pitch challenge on October 27 in San Francisco.

ANDE has opened registration for their Investment Manager Training in Mexico City on January 23-27, 2017. Details here.

Bradesco's acceleration program, inovaBra, is open for new registrations.



LAVCA Senior Advisor Ariel Muslera spent a few days as an Uber driver in Buenos Aires and shares some surprising insights: 80%+ of the content in the app and emails was in English. Uber maps worked horribly wrong. And he was allowed to pick up drivers (and get paid) in a few minutes, without actually filing a police-issued background check. ALARMING

Alexandra de Haan at Copacabana Ventures takes a deep dive on the Potential Impact of MicroLearning in Corporate Training in Brazil.

> Union Square Ventures’ Fred Wilson shares a primer on app coins: “This new model challenges the concept of equity as traditionally understood, and carries entirely different risks and rewards.”

AOL co-founder Steve Case talks about his work with entrepreneurs in emerging American startup ecosystems at the Kauffman Fellows Reunion VC Summit in Kansas City.

Yannick Roux at EC1 Capital dissects some data on first time venture funds’ performance and risk profile: On First Time VC Fund Performance.

Craig Shapiro at the Collaborative Fund shares what he’s learned about venture capital since starting a fund: The Collaborative Fund Turns Six: What I've Learned.



The OECD Development Centre published Startup América Latina 2016: Construyendo un Futuro Innovador in Mexico City last week. Read the summary en Español and in English.



A new law in Brazil, Lei Complementar do Simples, brings new benefits and protections for Brazilian angel investors. One key benefit is that investors will no longer be personally or legally liable for the debt of the companies they invest in.

The White House is creating a visa program to allow any non-US citizens who found a new company and raise at least US$345k to get a work visa for two years (extendable for another three if they raise a follow-on round). Welcome news for international founders.

Elena Cazes at Pulso Social interviews Rogelio de los Santos about Dalus Capital’s US$50m fundraise and focus for the new fund, and interviews Santiago Zavala about 500 Startup’s new Mexico fund; both fund managers speak to the importance of co-investing.

Univision’s Diego Graglia interviews Bismarck Lepe, co-founder of Ooyala and Wizeline, on Guadalajara’s tech scene, why Google and Facebook should set up shop in Mexico, and what drives him as an entrepreneur: “Vi que el dinero no era lo más importante, es tener un impacto.”

Reuters interviews Bluesmart co-founder Diego Saez Gil on returning to Argentina: This South American Country's Tech Sector is on the Cusp of a Boom.

Diario Financiero interviews GPs behind four new VC funds in Chile: “La co inversion es la clave del éxito.”

Privacy alerts via ProPublica: Google Has Quietly Dropped Ban on Personally Identifiable Web Tracking, and Facebook Lets Advertisers Exclude Users by Race. CONTROVERSIAL

Jessie Hempel at Backchannel walks through how Meetup CEO Scott Heiferman recruited women for CTO and VP of Product roles in How Meetup Ditched its Boys Club. USEFUL



Michael Wolf presented his predictions for tech and media in 2017 at The Wall Street Journal's digital conference. Spoiler alert: eSports.

Uber's self-driving transport truck made its first delivery: 50,000 cans of Budweiser. Flying cars are next. And if this ruling in the UK is any indication, they can’t became driverless fast enough...


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