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February 7, 2017
NEWS     EVENTS     LAVCA ↗     VC ↗    
 
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.
 

Latest Industry Headlines

 
Private Equity News

CPPIB Completes Follow-on Investment in Gas del Perú...


Venture Capital News

KaszeK Ventures Invests in Digital House Coding School...

Real Estate News

Jaguar’s Aliansce Increases Stake in Two Brazilian Shopping Malls...

 
READ MORE NEWS
 
 

MEMBER PROFILE: ALVARO RODRIGUEZ ARREGUI, CO-FOUNDER, IGNIA

 
 
READ PROFILE
 

LAVCA spoke with Alvaro Rodriguez Arregui, Co-Founder & Managing Partner of LAVCA Member firm, IGNIA Partners about opportunities for targeting the emerging middle class in Mexico. 

In this interview, Rodriguez Arregui discusses how IGNIA's LPs and strategy have evolved from Fund I to Fund II, including an unexpected deal source: international companies that have identified Mexico as a target market and want to partner with a local investor. Two of IGNIA’s recent investments (Pangea and Abra) are US based companies looking to expand in Mexico.

 
 

TRIP DEBRIEF & MARKET UPDATE: PERU

 

LAVCA’s Cate Ambrose and Ivonne Cuello travelled to Peru in late January for high level meetings with government officials, private equity firms, infrastructure investors, local pension funds, and the startup community.

While in Peru, LAVCA sat down with Alfredo Thorne, Minister of Economy and Finance, as well as the Superintendencia de Banca y Seguros del Perú (Peru’s banking superintendence, the SBS) to discuss the agenda for the incoming administration and to advocate for increased support for private capital investing in the country.

The new administration in Peru is set to promote a wide range of opportunities in infrastructure, nevertheless, the recent controversy around Odebrecht is presenting new challenges.

Local pension funds talked with LAVCA about some of their priorities as they look to diversify internationally.

LAVCA also had a chance to sit down with Alexander Gómez, Country Manager for Wayra Peru. While it is still early days for the development of the venture community, there is new dynamism following the success of entrepreneurs like Gary Urteaga of Cinepapaya, which recently sold to Fandango for an undisclosed amount.

For further reading about Peru, access LAVCA's post-election executive briefing and the Peru country policy overview, a macro brief on fund formation rules and restrictions around the role of institutional investors.

 
 

Latin American PE Awards & Invite to Responsible Investment Forum

 
 
MEMBER RSVP
 

LAVCA Member investment firms and LPs are invited to attend the Latin American Panel and Awards Luncheon during the PEI/PRI Responsible Investment Forum in New York on March 7, 2017.

Join LAVCA President Cate Ambrose for a panel discussion on Responsible Investment in Latin America, including:

  • Deal cases: practical examples of managing ESG-related issues at the portfolio company level
  • LP perspective: how do Latin American fund managers measure up in terms of ESG practices at the fund level
  • Managing risks where corruption is a consideration

Following the panel, LAVCA and EY will announce the Latin American PE Award Winners, an important initiative to help bring recognition to fund managers with successful deal cases in Latin America.

LAVCA Member firms submitted cases in 2016, featured in the third edition of the Latin American Private Equity Deal Book & ESG Cases.

Following the panel and award announcement, attendees will also be invited to participate in a networking luncheon. Space is limited. LAVCA Member investment firms and LPs must RSVP before February 24, 2017. Contact lgalamba@lavca.org to see if you qualify to attend.

 
 

PARTICIPANTS ANNOUNCED: VC in the Bay

 
 
CONTACT
 

Following the success of VC in NY in 2016, LAVCA will host a similar two-day immersion program for early stage venture investors from Latin America in the Bay Area on April 3-4, 2017.

In partnership with Omidyar Network, Telefonica Open Future_, and Silicon Valley Bank, VC in the Bay invites early stage venture investors from across Latin America to engage with key players in the Bay Area’s venture community. 

Confirmed guests include:

  • David Ulevitch, Founder, OpenDNS (sold to Cisco for US$635m)
  • Anjula Acharia, Partner, Trinity Ventures
  • Lee Jacobs, Partner, AngelList
  • Shawn Merani, Partner, Flight.vc
  • Brian Requarth, Founder & Chairman, VivaReal
  • Dan Green, Partner, Gunderson Dettmer

Contact lgalamba@lavca.org or jruvolo@lavca.org for more information or to see if you qualify.

 
 

Latest Industry News

 

Private Equity News

CPPIB Completes Follow-on Investment in Gas del Perú (en español)

(LexLatin) Canada Pension Plan Investment Board’s Carmen Corporation acquired an additional stake in Gas del Perú, making it the company’s largest shareholder. Read more


Indigo Partners Launches Chile’s Newest Low Cost Airline (en español)

(Emol.com) US based private equity firm Indigo Partners is launching a new low cost airline in Chile with plans to invest US$100m over the next five years. Read more


Carlyle Invests in Brazilian Tech Firm FS

(ZDNet) The Carlyle Group made its first investment in the technology sector in Brazil by acquiring a minority interest in mobile and security services provider FS for over R$100m. Read more


3i Group, Neuberger Berman, and Sigular Guff Exit Oticas Carol for EUR€110m

(Reuters) Italian eyewear group Luxottica has agreed to buy Brazilian optical chain Oticas Carol for EUR€110m (US$117m). Its main shareholders are investment funds 3i Group, Neuberger Berman, and Siguler Guff & Company. Read more


Ventura Capital Privado to Invest Up to MXN$1.5b in Monex (en español)

(Notiradar) Ventura Capital agreed to invest up to MXN$1.5b in Monex assets at a price of MXN$18.65 per share via a public offering. Read more


Abraaj Acquires Majority Stake in Chilean Firm Casaideas

(Press Release) The Abraaj Group has acquired a majority stake in Casaideas, a home design and decoration business with a growing market presence in Chile, Peru, and Bolivia. Read more


AC Capitales Exits Redesur (en español)

(Expansión) Red Eléctrica has purchased 45% of Peruvian electricity transmission company Redesur from infrastructure investment firm, AC Capitales. Read more


Fondo Endurance Acquires 40% of Lippi (en español)

(Pulso) Chilean investment firm Fondo Endurance, through its fund FIP Endurance Outdoor, acquired 40% of Lippi, a Chilean outdoor retail company with an e-commerce platform and several stores in Chile and Peru. Read more


Capital Indigo to Launch CKD and Raise Second Fund

(Press Release) Capital Indigo is in the process of listing a CKD on the Bolsa Mexicana de Valores (BMV) to raise its second fund focused on private debt investments and financing medium-sized companies in Mexico. This vehicle will target MXN$3b in commitments. Read more


Advent International’s GTM Acquires Brazilian quantiQ for R$550m

(Press Release) GTM, a Latin American chemical distributor and portfolio company of Advent International, announced the acquisition of Brazilian chemical distributor, quantiQ, from Braskem, for R$550m. Read more


GIC Buys Stake in Cruzeiro do Sul from Actis (em português)

(Press Release) Actis sold its 37% stake in Brazilian education company Cruzeiro do Sul to GIC for an undisclosed amount. The closing of this transaction is pending regulatory approval. Read more


L Catterton Invests in Brazilian Grupo Espaçolaser

(PE Hub) L Catterton has made an investment in Brazil’s Grupo Espaçolaser, a laser hair removal company, for an undisclosed amount. Read more



Venture Capital News

KaszeK Ventures Invests in Digital House Coding School

(Press Release) KaszeK Ventures invested an undisclosed amount in Digital House, a Buenos Aires based coding school designed to train technology professionals in Latin America. Read more


Redpoint eventures Invests Series A in Pismo (em português)

(Baguete) Redpoint eventures made an undisclosed Series A in Brazilian electronic payment processor and SaaS company, Pismo. Read more


Rise Capital, FJ Labs, and Lumia Capital Invest US$10m in InstaCarro

(New York Times) Rise Capital joined existing investors FJ Labs and Lumia Capital in a US$10m investment in São Paulo based InstaCarro, an online platform for selling automobiles. Read more


Cventures Primus Invests R$2.5m in Asaas (em português)

(Baguete) Brazilian SaaS company and B2C service provider Asaas, received an investment of R$2.5m led by Cventures Primus. Read more


Former Buscapé Executives Launch Venture Fund Domo Invest (em português)

(Baguete) Two former Buscapé executives, Ridrigo Borges and Guga Stocco, have teamed up with Gabriel Sidi, Marcello Gonçalves, and Felipe Andrade to launch Domo Invest. Read more


IGNIA Invests in Mexican Fintech Startup AirTM

(Press Release) IGNIA made an undisclosed investment in Mexican fintech startup AirTm, an internet platform that allows anyone to have a cloud-based USD-dominated account. Read more


Tsing Capital, Monashees+, Endeavor Catalyst, and XG Ventures Invest US$12m in Bluesmart

(Fortune.com) Bluesmart, a California based internet-connected luggage producer with offices in Argentina and China, raised US$12m in Series A. Tsing Capital led the round, and was joined by monashees+, Endeavor Catalyst, and XG Ventures. Read more


Carao Ventures Invests US$550k Seed Round in GoPato (en español)

(Carao Ventures) Carao Ventures led a US$550k investment in Costa Rica-based task services startup and mobile app GoPato. Other unnamed investors also participated in the seed round. Read more


Carao Ventures Leads US$620k Seed Round in Slidebean (en español)

(Carao Ventures) Carao Ventures, DreamIt Ventures Fund, Edge Harris Ventures, and other Latin American angel investor groups invested US$620k in Slidebean, a cloud-based presentation software startup headquartered in Costa Rica and New York. Read more


Riverwood Capital and DiDi Invest in 99 (em português)

(Valor Econômico) Didi and Riverwood Capital completed an investment in Brazilian car sharing company 99 (formerly 99 Taxis). Read more


Monashees+ Invests R$1m in Cambly (em português)

(Estadão Economia) Monashees+ invested R$1m in English learning app Cambly and obtained a minority stake in the company. Read more


Axon Partners Group Invests in Mexico’s Simpati Mobile (en español)

(Press Release) Axon Partners Group led an investment in Simpati Mobile via its fund, Amerigo Ventures Pacífico. Simpati is a Mexican mobile virtual network operator (MVNO) focused on servicing working women. Read more

Bossa Nova Expands Operations and Makes Investments in the US

(Press Release) In the last two months Brazil's Bossa Nova has made 16 investments in American startups. Read more

 


Real Estate News

Hines to Invest R$600m in Brazilian Real Estate (em português)

(Valor Econômico) American real estate investment, development and management firm Hines has agreed to invest approximately R$600m in four projects to be developed by Brazilian real estate developer Vitacon. Read more


Jaguar’s Aliansce Increases Stake in Two Brazilian Shopping Malls (em português)

(BOL Notícias) Jaguar Growth Partners’ portfolio company, Aliansce, reached an agreement to purchase stakes in two shopping malls located in Belém, Brazil. The acquisition will increase the company’s stake in Boulevard Shopping Belém to 79.99% and its stake in Parque Shopping Belém to 75%. Read more


Greystar to Launch its first Mexican Real Estate CKD

(Press Release) Greystar is preparing to list a new CKD on Mexico’s BMV to fund Mexican real estate projects. The fund will target up to MXN$4b. Read more


GTIS Raises Over US$257m for Brazilian RE Fund

(Alt Assets) New York based GTIS Partners has raised more than US$257m from 24 limited partners for its latest Brazilian real estate fund. Read more


HSI to Buy up to R$1.5b in Assets (em portugues)

(Valor Econômico) Private equity real estate firm Hemisfério Sul Investimentos (HSI) plans to acquire between R$1b and R$1.5b worth of assets in 2017. Read more


Pátria Investimentos and Sam Zell to Combine Self-Storage Business in Brazil (em português)

(Exame) Real estate tycoon Sam Zell and Pátria Investimentos agreed to combine their self-storage businesses in Brazil into a joint venture, with the goal of more than doubling capacity by 2020. Read more


LaSalle Sells Mexican Portfolio to Artha Capital for US$95m (en español)

(Lexlatin) LaSalle Investment Management sold its portfolio of Class A industrial buildings located in Tijuana, Silao, and Querétaro to Artha Capital for US$95m. Read more


FIC to Invest US$258m in Grupo Éxito’s Viva Malls (en español)

(Comunicados/CO) Fondo Inmobiliario Colombia (FIC), a real estate fund managed by Bancolombia, signed an agreement to invest in Grupo Éxito’s real estate trust, Viva Malls, for US$258m (COL$770b). Read more


GCarr to Launch Real Estate CKD (en español)

(El Economista) Grupo Inmobiliario Carr (GCarr), via its real estate firm Be Grand, is in the process of listing its first CKD on the Bolsa Mexicana de Valores (BMV) to fund projects in the real estate sector. Read more


Orange Investments Issues First CKD (en español)

(El Economista) Orange Investments, seeks to capture up to MXN5b with the issuance of its first CKD vehicle. Read more


Alsis Funds to Invest in Mexican Housing (en español)

(El Economista) Miami-based private capital firm Alsis has committed to investing in the Mexican housing sector. Alsis is backed by Ontario Teacher’s Pension Plan (OTPP), the California Public Employee Retirement System (CalPERS), and private equity and venture capital firm, Northgate. Read more


Walton Street México to Invest MXN1.4b in Real Estate Projects (en español)

(El Economista) Mexican private equity firm Walton Street México will invest MXN1.4b in real estate projects in Mexico. Read more

 
 
LAVCA & Industry Events
Add to Calendar
Foro Latinoamericano de Inversion de Impacto (FLII) 
Hosted by New Ventures | February 14-16, 2017 | Merida, Mexico
 
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2017 Stern Venture Capital and Private Equity Conference
Hosted by NYU Stern | March 3, 2017 | New York, NY
 
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PEI/PRI Responsible Investment Forum | Latin American Panel & Awards LuncheonLAVCA-Icon
Hosted by PEI, PRI, LAVCA & EY | March 7-8, 2017 | New York, NY
 
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Women's Private Equity Summit
Hosted by Falk Marques Group | March 8-10, 2017 | Half Moon Bay, CA
 
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FINNOSUMMIT
Hosted by Finnovista | March 14, 2017 | Bogotá, Colombia
 
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MIPIM
Hosted by MIPIM | March 14-17, 2017 | Cannes, France
 
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Wharton Latin America Weekend 2017
Hosted by The Wharton School | March 24-26, 2017 | Philadelphia, PA
 
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AMEXCAP Annual Summit
Hosted by AMEXCAP | March 29-31, 2017 | Mexico City, Mexico
 
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VC in the BayLAVCA-Icon
Hosted by LAVCA | April 3-4, 2017 | Bay Area, CA
 
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VC in São PauloLAVCA-Icon
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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LAVCA Week: Summit & Investor RoundtableLAVCA-Icon
Hosted by LAVCA | September 26-27, 2017 | New York, NY
 
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LAVCA Week: Venture Investors NY SummitLAVCA-Icon
Hosted by LAVCA | September 28, 2017 | New York, NY
 
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LAVCA Wharton Private Equity Professional Development ProgramLAVCA-Icon
Hosted by LAVCA | November 13-16, 2017 | Miami, FL
 
LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell
 

Latin American Venture Capital Association
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New York, NY 10018

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