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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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Over the last five+ years, Latin America has produced a new generation of startups backed by the region’s tech investors. LAVCA established the Latin American Startup Directory to identify and follow this universe of startups as they grow.
Using venture backing as an initial criteria, LAVCA identified 256 Latin American startups in the 2018 directory, up from 155 in the 2017 directory, and 100 in the inaugural list.
The 2018 Latin American Startup Directory includes early stage companies that have received US$1m+ in verified venture funding and are still in operation, as tracked by LAVCA, but does not include companies that have been acquired or realized an IPO.
Click here for a separate list of highlighted companies that have raised US$1m+ and have been acquired/listed, including 99, Globant, Despegar, Netshoes, and others.
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LAVCA is in the final stages of collecting data for the mid-year survey on private capital activity in Latin America.
250+ fund managers participate in LAVCA data collection, which is a key to promoting capital flows into the region and helps to educate investors about the growing private capital industry in Latin America.
If you are a fund manager active in the region and would like to participate in the survey, please contact Natalia Valencia or Eduardo Roman.
Underlying transactions and investment information shared with LAVCA will be kept confidential. Only aggregate data is shared.
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LAVCA and Cambridge Associates are surveying limited partners for information about private capital activity and allocations.
The survey should take no more than 10 minutes to complete and individual responses will be kept confidential.
Participating LPs receive:
> A complimentary copy of LAVCA Industry Data & Analysis (US$795 value)
> Option for a pass to attend LAVCA's annual investor meeting in New York where results will be presented.
Access more information about the LAVCA Summit & Investor Roundtable during LAVCA Week.
The deadline to participate in the survey is August 31. Contact our research team for access.
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The Institutional Limited Partners Association released a draft of its Portfolio Company Metrics Template.
Private equity fund managers are invited to offer comments by September 28, 2018.
Download the PortCo Template via the ILPA website. A final template will be published in the fourth quarter of 2018.
Historically, LPs have requested information from their general partner managers, often in bespoke formats. The PortCo Template standardizes this request so that LPs can receive more timely and consistent data, while GPs can report more efficiently without the burden of completing multiple, customized forms from each of their LPs. The PortCo Template was designed specifically for buyout and growth equity funds.
The PortCo Template helps LPs measure:
- Portfolio risk exposure across geographies, sectors, and strategies
- Value creation across individual funds, as well as the portfolio
- LPA / side-letter compliance
- Attribution for significant changes in company valuationse
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Private Equity News
Riverwood Capital Targets US$250m for LatAm Sidecar Vehicle
(PE Hub) Riverwood Capital is targeting US$1.25b in capital commitments for its third flagship fund. As part of this fundraising effort, the firm will also create a separate US$250m sidecar fund focused on investments in Latin America. Read more
HIG Capital’s Symplicity Acquires Brazilian HR Platform Contratanet
(Press Release) HIG Capital's portfolio company, Symplicity Corporation, announced the acquisition of Contratanet, the largest integrated network of career portals for jobs and internships in Brazil. Read more
Alba Capital Partners Acquires Argentinean Telecoms Sidaco and A1T
(Press Release) Alba Capital Partners acquired controlling interests in Argentinean telecommunications companies Sidaco and A1T. Additionally, the firm announced a US$30m investment program to deploy 400 telecommunications towers in Argentina. Read more
Alloy Merchant Finance Invests in Mexico’s Grupo Centra Empresarial (en español)
(Press Release) Alloy Merchant Finance made a US$6.5m mezzanine investment in holding group Grupo Centra Empresarial (GCE), which operates gas and convenience store franchises in Mexico’s northeastern region. Read more
Starboard Restructuring Partners Will Acquire 72.5% stake in Brazilian Retail Holding Group Máquina De Vendas (em português)
(Valor Econômico) Alternative investment management firm Starboard Restructuring Partners is set to acquire a 72.5% stake in Brazilian retail holding group Máquina de Vendas. Read more
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 Venture Capital News
The Venture City, Velum Ventures & Grupo Cisneros Lead US$4.5m Series A in Social Marketing Platform Fluvip (en espanol)
(Pulso Social) The Venture City, Velum Ventures, and Grupo Cisneros led a US$4.5m Series A in Fluvip, a Colombian influencer marketing platform with offices in Argentina, Mexico, Brazil, the US, and Spain. Read more
Arc Labs Makes US$10m Debt Investment in Mexican Fintech Startup Creze (en español)
(AMEXCAP) Arc Labs made a US$10m debt investment in Creze, a Mexican startup providing financial services to SMBs (PYMES). Read more
SP Ventures and Abseed Make R$5m investment in Brazilian Agtech Startup Aegro (em português)
(E-commerce News) SP Ventures and Abseed made a R$5m investment in Brazilian agricultural management and optimization software company Aegro. Read more
Roomi Acquires Mexican Shared Rentals Platform DadaRoom (en español)
(Expansión) DadaRoom, a Mexican platform for shared rentals, was acquired by Roomi, an American roommate-finding app, for an undisclosed amount. DadaRoom is backed by Wayra and Start-Up Chile. Read more
500 Startups Selects 11 Startups for Mexico City Seed Program
(Press Release) 500 Startups selected 11 startups for its seed program in Mexico City, which includes US$60k in investment. Read more
Axon Partners and Top Seeds Lab Make Undisclosed Investment in Tourism Platform Turismoi
(Press Release) Axon Partners and Top Seeds Lab made an undisclosed investment in Turismoi, a Peruvian tourism platform operating in Peru, Colombia, Ecuador, and Spain. Read more
Argentina Announces Plan to Allow Insurance Companies to Invest in Startups (en español)
(Press Release) The Ministry of Production of the Nation of Argentina collaborated with the National Insurance Superintendent, ARCAP, ASEA and the insurance sector to allow Argentine insurance companies to invest in startups. Read more
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 Real Estate News
Mexico’s Be Grand Raises MXN$4b CKD (en español)
(El Economista) Mexican real estate group Be Grand listed its debut CKD vehicle for up to MXN4 billion on the Mexican Stock Exchange (BMV). Be Grand plans to use the capital raised to develop residential projects in Mexico. Institutional investors that made capital commitments to this CKD vehicle include Afores XXI Banorte and Citibanamex, Singaporean sovereign wealth fund Temasek, and insurance firm Seguros MetLife. Read more
Brazilian Mall Investors Remain Optimistic Despite e-Commerce Expansion
(Nasdaq) Private real estate executives gathered at the Shopping Center International Congress in São Paulo, and expressed they will continue to invest in malls despite the threat of Amazon’s expansion. Earlier this year, Vinci Partners raised R$730m for its REIT vehicle Vinci Shopping Centers. Read more
Credicorp Capital and Greystar Raise US$100m for Chilean Residential Income Fund II (en español)
(Diario Financiero) Credicorp Capital and Greystar broke records in the Chilean market after raising more than US$100m for its Fondo Residencial II. The fund will invest in five to seven projects which will develop a total of 1,500 apartments in Santiago’s eastern neighborhoods. Read more
GTIS Partners Launches Infrastructure Platform in Brazil
(Press Release) GTIS Partners announced that it will expand into infrastructure investing in Brazil. Eduardo Klepacz, formerly CEO of Cubico Brazil, one of the country’s largest renewable energy generators, will lead GTIS’ new team based in São Paulo. Read more
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MergerMarket Brazil M&A and Private Equity Forum
Hosted by MergerMarket | August 22, 2018 | São Paulo, Brazil
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FINNOSUMMIT Mexico City
Hosted by Finnovista | September 12 - 13, 2018 | Mexico City, MX
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Women Funding Women
Hosted by Dell & Springboard Enterprises | September 13; 18 | Mexico City; São Paulo
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Mobile World Congress Americas
Hosted by GSMA | September 12-14, 2018 | Los Angeles, California
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FINNOSUMMIT Miami
Hosted by Finnovista | October 4 - 5, 2018 | Miami, Florida
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LATAM Investment Summit
Hosted by i11 and Group SG | October 19, 2018 | Miami, Florida
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Sustainable Investing Emerging Markets Summit
Hosted by EMPEA | October 23, 2018 | London, UK
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GIIN Investor Forum
Hosted by GIIN & PEI | October 30-31, 2018 | Paris, France
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Foro Argentino de Inversiones 2018
Hosted by ARCAP | November 1, 2018 | Buenos Aires, Argentina
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WeXchange
Hosted by FOMIN | November 6-7, 2018 | Lima,Peru
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FLII Central America and the Caribbean
Hosted by Alterna & New Ventures | November 7-8, 2018 | Antigua,Guatemala
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Women's Alternative Investment Summit
Hosted by Falk Marques | November 8-9, 2018 | New York,NY
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Inside Private Equity: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 12-15, 2018 | Miami, Florida
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5th International Investment Forum Chile 2019
Hosted by InvestChile | January 15-17, 2019 | Santiago, Chile
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LAVCA Member & LP Reception
Hosted by LAVCA & Advent | September 24, 2018 | New York, NY
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Family Office Program & Dinner
Hosted by LAVCA | September 24, 2018 | New York, NY |
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Summit & Investor Roundtable
Hosted by LAVCA | September 24-26, 2018 | New York, NY |
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ILPA LP-Only Breakfast
Hosted by LAVCA & ILPA | September 26, 2018 | New York, NY |
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Real Estate Program
Hosted by LAVCA | September 26, 2018 | New York, NY |
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ILPA Institute Workshop
Hosted by LAVCA & ILPA | September 27, 2018 | New York, NY
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Venture Investors Annual Meeting
Hosted by LAVCA | September 27, 2018 | New York, NY |
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VC & Tech After Party
Hosted by LAVCA & Riverwood Capital | September 27, 2018 | New York, NY |
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell. |
Latin American Private Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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