Latin American Private Capital Update - July 27, 2021 Latin American Private Capital Update July 27, 2021
July 27, 2021
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LAVCA Private Capital Update
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
Private Equity News

Stonepeak to Acquire Lumen’s LatAm for USD2.7b...

Venture Capital News
Venture Capital News

Tiger Global Leads USD235m Series D for Chilean NotCo...

Real Asset News
Real Assets News

KKR to Invest ~USD500m in Telefónica Colombia...




Fund managers, institutional investors, DFIs, family offices and other direct investors are invited to participate in LAVCA Week, a private virtual investor meeting taking place on September 20-23, 2021.

This year’s agenda prioritizes targeted breakout groups and private meetings to create synergies and facilitate networking.

Highlighted speakers and sessions include:
> Interview with Emmanuel Jaclot, Executive Vice President and Global Head of Infrastructure of CDPQ
> Fireside Chat with Patrice Etlin, Managing Partner of Advent International and Nicolas Szekasy, Co-Founder of KASZEK, LAVCA Chairperson on The Future of Deal-Making in Latin America
> Martin Escobari, Co-President at General Atlantic and Sebastián Kanovich, CEO of dLocal on Local Talent in the Global Stage

Participation is now open to LAVCA members, non-member private capital investors and qualified institutional investors.

This year's program will be a fully immersive experience including:
Live Main Stage Sessions with Unique Keynotes and Panels
Interactive Breakouts
Private Roundtables and Meetings
Interactive Networking Opportunities
Personalized Introductions

Access the agenda at a glance (topics and timing subject to change).

REGISTER NOW at the early bird rate.

Access more information on LAVCA Week and/or contact LAVCA's Director of Events Kaela Kennedy with any questions.


 🚀Another Record Year: LAVCA Estimates USD6.2b in VC

LAVCA Panelist

We are only halfway through 2021 and Latin American VC has already set another record.

LAVCA estimates at least USD6.2b in VC investments for 1H 2021, blowing 2019’s record (USD4.6b) out of the water.

VIEW LAVCA’s full list of 19 startups (recently NotCo) with unicorn valuations in Latin America.

It’s not just Latin America; Africa and the Middle East are also on track for record venture investment in 2021, according to data from the Global Private Capital Association (GPCA).

Top 10 Announced Deals:

LAVCA members can email for more details on our 1H 2021 VC estimate.


EMPEA Rebrands as the Global Private Capital Association (GPCA) 


EMPEA recently rebranded to become the Global Private Capital Association (GPCA).

LAVCA is thrilled to be part of the GPCA network and will continue to operate as a parallel membership organization with its own dedicated team and board.


Latest Industry News

Private Equity News
Private Equity News

Stonepeak to Acquire Lumen’s Latin American Business for USD2.7b

(Press Release) Stonepeak agreed to acquire the Latin American operations of Lumen Technologies for USD2.7b. Read more

FIR Capital Acquires 30% Stake in Plamev Pet (em português)

(Press Release) FIR Capital acquired a 30% stake in Brazilian pet health insurance company Plamev Pet for an undisclosed amount. Duxx Investimentos, Health Invest and VS1 Capital also contributed to the round. Read more

H.I.G. Capital-Backed Desktop Sigmanet Raises BRL715.2m for an IPO (em português)

(Press Release) H.I.G. Capital-backed Desktop Sigmanet, a Brazil-based internet service provider, raised BRL715.2m in its IPO on the B3. Read more

GIC Acquires Minority Stake in Aqua Capital-Backed Biotrop

(Press Release) GIC acquired a significant minority stake in Aqua Capital-backed Soluções Biológicas (Biotrop), a Brazilian biological agtech inputs company, providing a partial exit for Aqua Capital. The transaction is subject to approval. Read more

Magalu Acquires Insight Partners-Backed KaBuM! for up to ~USD741m (em português)

(Startupi) Brazil-based e-commerce chain Magalu acquired KaBum!, a Brazil-based technology and e-commerce platform backed by Insight Partners, for up to BRL3.8b (~USD741m). Read more

Kandeo Exits Finsocial Via Sale to International Investors (en español)

(La República) Colombia’s Kandeo exited Finsocial, a Colombia-based fintech focused on payroll deduction loans, via a sale to unnamed international investors. Kandeo invested in the company in 2018. Read more

TRG Exits Latin America’s Neosecure via Sale to Patria Investmentos

(Press Release) The Rohatyn Group exited Neosecure, a provider of cybersecurity solutions and services with operations in Chile, Argentina, Peru, Colombia and Brazil, via a sale to Patria Investmentos. Terms of the transaction were not disclosed. Read more

CVC Capital Invests USD470m in Aleph Holdings

(WSJ) CVC Capital invested USD470m for a stake in digital media company Aleph Holdings, valuating the company at USD2b. Read more

Vinci Partners Exits Domino’s Brazil to Burger King Brazil in Exchange for Shares in BK Brazil

(Press Release) Vinci Partners exited local franchise Domino’s Brazil Pizza via a sale to Burger King Brazil in exchange for shares in Brazil-based franchise BK Brazil. The transaction is subject to approval. Vinci acquired Domino’s Brazil in 2018. Read more

SK Tarpon and Greenbridge Invest BRL500m in NSTech

(LABS News) Brazil’s SK Tarpon, through Niche Partners, and Greenbridge invested BRL500m (USD99.3m) in NSTech, its logistics technology holding company. The transaction will follow a merger of NSTech with Praxio, a tech solutions hub for road transport cargo and passengers. Read more

Alloy Merchant Finance to Invest Up to ~USD9.9m in Mexico’s Podemos Progresar

(Press Release) Alloy Merchant Finance agreed to invest up to MXN200m (~USD9.9m) in Podemos Progresar, a Mexico-based microfinance company, through a structured loan. Read more

Venture Capital News Venture Capital News

Tiger Global Leads USD235m Series D for Chilean Foodtech NotCo

(Reuters) Tiger Global led a USD235m Series D for Chilean foodtech NotCo, with participation from DFJ Growth Fund, ZOMA Lab and athletes Lewis Hamilton and Roger Federer, at a reported USD2.5b valuation, making NotCo the first Latin American foodtech unicorn. Read more

T. Rowe Price Leads USD500m Series F for Rappi

(TechCrunch) T. Rowe Price led a USD500m Series F for Colombian on-demand delivery startup Rappi at a reported USD5.25b valuation, with participation from SoftBank, GIC, Baillie Gifford, Third Point and Octahedron. Read more

Tiger Global and Insight Partners Lead USD50m Series C for Visual Collaboration Platform MURAL

(LABS News) Tiger Global and Insight Partners led a USD50m Series C for for Mural, a US-based visual collaboration software enterprise platform with operations in Argentina, at a reported USD2b valuation. Read more

Presight Capital and Kingsway Capital Lead USD30m Series A for E-Commerce Aggregator VALOREO

(TechCrunch) Presight Capital and Kingsway Capital led a USD30m Series A for VALOREO, a Mexico-based e-commerce holding company specialized in acquiring, operating and scaling Latin America-focused businesses under the Fulfillment by Amazon (FBA) business model, with follow-on from KASZEK, Upper90 and FJ Labs. Read more

SoftBank Leads USD35m Series B for Brazil-based Telematics Platform Cobli (em português)

(Cobli) SoftBank led a USD35m Series B for Cobli, a Brazil-based telematics and fleet management platform, with participation from Qualcomm Ventures and follow-on from NXTP, Valor Capital Group, Fifth Wall Ventures and Valor Capital Group. Read more

General Atlantic Leads Undisclosed Series B for Mexican Personal Finance Platform Klar

(Press Release) General Atlantic led an undisclosed Series B for Klar, a Mexican personal finance management and lending platform with follow-on from Prosus Ventures, Quona Capital, Mouro Capital, IFC and WTI. Read more

Brazilian Proptech EmCasa Raises ~USD22m Round (em português)

(MoneyTimes) EmCasa, a Brazilian proptech for buying and selling residential real estate, raised a ~USD22m round from Globo Ventures, Igah Ventures, Flybridge Capital, monashees, MAYA Capital, Pear VC, NBV and ONEVC. Read more

Torq Ventures Leads ~USD11m Round for Brazilian Open Finance Platform Celcoin (em português)

(Startupi) Torq Ventures, a ~USD10m CVC fund launched by Brazilian software developer Sinqia, led a ~USD11m round for Celcoin, a Brazilian open finance infrastructure developer for fintechs targeting the underbanked, with follow-on from Vox Capital and BTG Pactual’s innovation hub boostLab. Read more

Libertus Capital Leads USD11m Series A for Argentine Crypto Platform Buenbit

(CoinDesk) UK-based VC Libertus Capital led a USD11m Series A for Buenbit, an Argentine crypto platform, with participation from Galaxy Digital, FJ Labs and angels. Read more

Miami-Based Lending Platform for Latin American SMEs Marco Financial Raises USD7m Seed Round

(TechCrunch) Marco Financial, a Miami-based lending platform for Latin American SMEs conducting international trade, raised a USD7m seed round from Kayyak Ventures, Village Global, Flexport Ventures, Tresalia Capital, 342 Capital, Struck Capital, Antler, Florida Funders, Fox Ventures, Arpegio and angels Phil Bentley (Mitie) and Naman Budhdeo (TripStack). Read more

SP Ventures Leads USD5m Series A for Argentine Frozen Food Platform Frizata (em português)

(Brazil Journal) SP Ventures led a USD5m Series A for Frizata, an Argentine frozen fruit and vegetable D2C platform with plans to launch operations in Brazil, with participation from Norte Ventures and angels Marcos Galperin (Mercado Libre), Jaime Soler (Cencosud) and Gonzalo Ramirez (Louis Dreyfus). Read more

Flybridge Capital Invests USD4.5m in  Celebrity Video Messaging Platform (em português)

(Startupi) Flybridge Capital invested USD4.5m in, a Miami-based video messaging app for celebrity engagement with operations in Mexico and Brazil. Read more

Venezuelan SuperApp Yummy Raises USD4m Round

(TechCrunch) Yummy, a Venezuelan ridesharing and food delivery app, raised a USD4m round from YC, Canary, the Hustle Fund, Necessary Ventures and Justin Mateen (Tinder). Yummy was founded by Postmates and Wayfair alum Vicente Zavarce. Read more

Accion Venture Lab and K50 Ventures Lead USD3.8m Round for Brazilian Lending Platform Dinie (em português)

(Startupi) Accion Venture Lab and K50 Ventures led a USD3.8m round for Dinie, a Brazilian lending platform, with participation from Flourish Ventures, DOMO Invest, Tribe Capital and Capital Lab. Read more

Valor Capital Group Leads USD3.6m Round for Corporate Benefits Platform Quansa

(Press Release) Valor Capital Group led a USD3.6m round for Quansa, a Chile- and Brazil-based corporate benefits platform focused on employee financial wellbeing, with participation from Canary, Sequoia, Norte Ventures, Pear VC, Magma Partners and angels Ariel Lambrecht (99) and Mada Seghete (Branch Metrics). Read more

Imaginable Futures Leads ~USD3.1m Round for Brazilian Edtech Arvore (em português)

(NeoFeed) Imaginable Futures led a ~USD3.1m round for Árvore, a Brazilian digital library service for public and private schools, with participation from MSW Capital and Potencia Ventures. Read more

Astella Investimentos Invests ~USD1.4m in Brazilian Sales and Marketing Platform Croct (em português)

(Brazil Journal) Astella Investimentos invested ~USD1.4m in Croct, a Brazilian sales and marketing platform for tailoring company websites to individual consumers, with follow-on from Felipe Almeida (Zup). Croct’s clients include Sem Parar, Descomplica and Warren. Read more

WE Ventures Invested ~USD1.1m in Brazilian Marketing Intelligence Platform Mobees (em português)

(InfoMoney) We Ventures invested ~USD1.1m in Mobees, a Brazilian marketing intelligence platform installing ads in ride-sharing and last-mile delivery vehicles. Read more

DOMO Invests ~1USDm in Brazilian Car Resale Marketplace Usadosbr (em português)

(NeoFeed) DOMO invested ~USD1m in Usadosbr, a Brazilian car resale marketplace. Read more

Mexican Employee Benefits Platform Plerk Raises USD1m Pre-Seed Round

(LatamList) Plerk, a Mexican employee benefits platform, raised a USD1m pre-seed round from YC, 500, Peak Capita, and MGV Capital Group. Read more

Real Asset News Real Assets News

KKR to Invest ~USD500m in Telefónica Colombia to Create First Open Access Fiber Optic Network

(Press Release) KKR agreed to invest ~USD500m in Telefónica Colombia, a subsidiary of Spain-based telecom group Telefónica, to create Colombia’s first nationwide open access fiber optic network. Read more

I Squared Capital Acquires 78% Stake in Sociedad Portuaria Puerto de Barranquilla for USD220m (en español)

(El Tiempo) I Squared Capital acquired ~78% stake in Colombian port operator Sociedad Portuaria Puerto de Barranquilla for USD220m, providing an exit for Chile-based Southern Cross Group. Read more

Riverstone Holdings Acquires Controlling Stake in Energía Real

(BNamericas) Riverstone Holdings acquired a controlling stake in Energía Real, a Mexican commercial and industrial solar distributed generation platform, and committed capital for growth. Read more

Patria to Invest USD345m in Two Road Concessions in Colombia

(Press Release) Patria, through its Patria Infrastructure Fund IV, invested USD345m in two road concessions in Colombia, Malla Vial del Valle (Rutas del Valle) and Santa-Mocoa-Neiva (Ruta al Sur). Read more

LAVCA & Industry Events
Hosted by LAVCA | September 20-23, 2021 | Virtual 

LAVCA Members receive a discount on select events. For information, 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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