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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 welcomes SoftBank, Amazon Web Services, Microsoft, MercadoLibre, and Visa to the Latin American Tech Growth Coalition, where they join Google, Facebook, Movile, KIO Networks, Globant, Qualcomm Ventures, Wayra/Telefonica Open Innovation, and Riverwood Capital.
Latin American Tech Growth Coalition members are leading global and Latin American tech companies and investors with a common goal of advancing high growth startups in Latin America, through access to relevant information, dissemination of best practices, and facilitation of valuable networks among startups, investors, and tech companies.Tech Growth Coalition participation is by invitation.
LAVCA also published an updated directory of VC/tech members, with profiles on 75+ firms and organizations.
Access further information about The Latin American Tech Growth Coalition and LAVCA’s VC Council, as well as other relevant tech related LAVCA lists and directories.
To apply for LAVCA Membership, please submit an application here.
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Registration is open for the LAVCA Summit & Investor Roundtable (September 23-25 in New York), the premier venue for LP-GP networking and investor education on private capital in Latin America.
Confirmed keynotes and speakers include ILPA Board Member Anders Strömblad of Sweden’s AP2, CPPIB, Equity International, Softbank, and others.
The 2019 program also includes a Member and LP reception hosted by Advent International (September 23); a separate program exclusive to family offices (September 23); an ILPA Institute Pension Fund Training (September 23); a Real Assets Program (September 25); and an LP-only breakfast hosted by ILPA (September 25).
Members have priority access to register.
The LAVCA Summit & Investor Roundtable is a part of LAVCA Week, which has over 500 attendees including fund managers, institutional investors, family offices, development finance institutions, sovereign wealth funds, fund of funds, corporates, and secondaries.
Contact Kaela Kennedy (kkennedy@lavca.org) with program and registration-related questions.
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VC/tech investors, corporates, and qualified entrepreneurs are invited to join us on Thursday, September 26 in New York for the LAVCA Venture Investors Annual Meeting, on the final day of LAVCA Week, followed by cocktails hosted by Riverwood Capital.
Access the AGENDA. Details and registration.
Additional topics include:
> Fireside Chat with Craig Thornburn, Director - Emerging Markets, Future Fund, Australia’s ~US$120b sovereign wealth fund
> Growth Capital: Is Bigger Better? with Martin Escobari, Managing Director, General Atlantic, & Shu Nyatta, Partner, SoftBank
> Fireside Chat with James Shen, Managing Director, Qualcomm Ventures China, & Carlos Kokron, Managing Director, Qualcomm Ventures Americas
> Biotech Panel with Founders and CEOs of NotCo, Miroculus, OneSkin & Unima
🍸 LAVCA members are invited to a private cocktail with Silicon Valley Bank and the Tech Growth Coalition on Weds. September 25, the evening prior.
Contact Kaela Kennedy (kkennedy@lavca.org) with program and registration-related questions.
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Private Equity News
Advent Fully Exits IMC through Secondary Market Offering (em português)
(Brazil Journal) Advent International sold its 10% stake in International Meal Company (IMC), a Brazilian fast food operator via a secondary market offering on the BOVESPA. The offering was in follow-up to an announcement of a merger between IMC and MultiQSR the franchisor of Pizza Hut and KFC in Brazil. Read more
Actis Acquires Brazilian Windfarm (em português)
(Reuters) Actis reached an agreement with Energias de Portgual (EDP) to acquire a 137 MW windfarm in the Brazilian state of Bahia. The acquisition will be completed at a full cost of R$1.2b inclusive of debt, R$650m of which will be solely equity. Pending regulatory clearance the acquisition will likely close in the fourth quarter of 2019. Read more
Evoltz Buys Electricity Company ATE VIII (em português)
(Canal Energia) Evoltz Participações, controlled by the Seville Investment Fund, purchased 50% of capital stock of ATE VIII, a company operating in the electricity transmission segment in Brazil, for an undisclosed amount. Evoltz is indirectly owned by several companies managed by the Texas Pacific Group (TPG Capital). Read more
Nexxus Announces a Follow-On Investment in AgileThought
(Press Release) Nexxus Capital announced a follow-on investment into AN Global based in Irving, Texas and Mexico City. The added equity will be utilized to acquire AgileThought a Miami, Florida based provider of digital transformation services. Read more
Warburg Pincus to Acquire Pampo and Enchova Oil Fields from Petrobras
(Reuters) UK based Trident Energy, a portfolio company of Warburg Pincus, signed an agreement to acquire the Pampo and Enchova oil fields from Petrobras. Trident will pay US$851m for the oil fields and potentially an additional US$200m in contractual earn-outs based on crude oil prices. Read more
AIMCo and IG4 Capital Acquire Galpar’s Stake in Iguá Saneamento
(Press Release) The Alberta Investment Management Corporation (AIMCo), an LP and co-investor with IG4 Capital, acquired Galpar’s stake in waste management company Iguá Saneamento after a judicial reorganization of the company’s finances. AIMCo’s increased stake in Iguá Saneamento will continue to be managed by IG4 Capital. Read more
Crescera Investimentos and Others Exit Brazilian Medical Education Group Afya
(Yahoo Finance) Crescera Investimentos and other shareholders partially exited Afya, a Brazilian medical education group through an IPO on the NASDAQ. Afya raised US$300m in the share offering with a starting price of US$19 per share. Read more
Advent Invests in CI&T
(Press Release) Advent International will invest an undisclosed amount in Campinas, Brazil-based CI&T for a minority stake to accelerate its global growth in North America, Europe and the Asia-Pacific region. As part of the transaction, Advent will acquire the Brazilian development bank BNDESPAR’s existing 30% stake in CI&T. Read more
Oaktree Agrees to Acquire a 20% Stake in Singular
(PE Hub) Oaktree Capital Management agreed to acquire a 20% strategic stake in Singular, a Chilean based asset management firm and placement agent. This is Oaktree Capital’s first corporate acquisition in Latin America. Read more
Riverstone-Backed Vista Oil & Gas Completes A Follow-On Offering via the NYSE
(Press Release) Vista Oil & Gas, a Mexico based energy company, raised US$107m in a follow-on offering on the New York Stock Exchange to invest in current projects. Vista is backed by private equity firm Riverstone Holdings and the Abu Dhabi Investment Council. Last year Vista acquired Pampa Energy and Pluspetrol and earlier this year Vista received commitments from Riverstone and the Southern Cross Group to help expand its operations at the Vaca Muerta shale deposit in Argentina. Read more
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 Venture Capital News
TCV Leads US$400m Series F Invesment in Nubank
(Press Release) Brazilian fintech Nubank raised a US$400m Series F at a reported US$10b valuation. TCV led the round, with participation from existing investors Tencent, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital and Thrive Capital. Tencent led a US$180m round in late 2018, representing about a 5% stake in the company. Read more
monashees and Go4it Capital Invest US$8.5m Series A in Fazenda Futuro (em português)
(Brazil Journal) monashees and Go4it Capital made a US$8.5m Series A investment in Fazenda Futuro, a Brazilian foodtech startup making plant-based hamburgers, at a reported US$100m post-money valuation. Founders Marcos Leta and Alfredo Strechinsky previously launched the Do Bem beverage brand and sold to Ambev in 2016. Read more
Softbank Acquires R$1b in Shares of Banco Inter (em português)
(Brazil Journal) SoftBank acquired ~R$1b in shares of Banco Inter, a publicly traded Brazilian digital bank. WSJ reports SoftBank had been in talks with Nubank previously. Read more
Invermaster Ventures Co-Invests US$1m in Biotech Levita Magnetics
(Press Release) Invermaster Ventures co-led a US$1m investment in Chilean biotech Levita Magnetics. Existing investors include Alex Seelenberger from Aurus Capital (co-founder and first investor), FEN Ventures (Cristóbal Silva and José Antonio Jiménez), Juan Andrés Camus, Nicolás Luksic, and Eduardo Ergas. Read more
Aurus Ventures and CLIN Fondo de Inversión Privado Invest in TI Mining
(Press Release) Aurus Ventures made an undisclosed investment in Chilean mining tech startup TI Mining, with participation from CLIN Fondo de Inversión Privado, a VC fund managed by Chilean NGO Fundación Chile. Read more
Angel Ventures Mexico, DILA Capital and Others Invest in Alameda and Mubler Merger
(Contxto) Furniture and home décor marketplaces Alameda (Mexico) and Mubler (Colombia) merged under the Alameda brand and raised an undisclosed investment from Angel Ventures Mexico (through its Pacific Alliance Fund II), DILA Capital, and others. DILA Capital made an undisclosed investment in Alameda in 2016. Read more
FINEP and Others Invest R$4m in ChoppUp (em português)
(Fusões & Aquisições) ChoppUp, a Brazilian IoT startup that partners with beer distributors, raised R$4m over two rounds from FINEP and undisclosed investors. Read more
Manutara Ventures Invests US$500k in Chile's Rocketbot (en español)
(Diario Financiero) Manutara Ventures invested US$500k in Rocketbot, a Chilean SaaS platform developing bots for process automation. Read more
Alaya Capital Partners Leads a US$500k Investment in QMATCH
(Contxto) Alaya Capital Partners led a US$500k seed investment in QMATCH, a Chilean B2B comparison platform for e-commerce market intelligence, with participation from Dadneo’s Fondo Vulcano. Read more
Quest Venture Partners, Magma Partners, and Others Invest in Brazilian Crowdsourcing Startup Dataplor
(TechCrunch) Dataplor, a Brazilian startup crowdsourcing local retail market intelligence, raised an undisclosed seed round from Quest Venture Partners with participation from Magma Partners, ffVC, Sidekick Fund, and the Blue Startups accelerator. Read more
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 Real Estate News
Abu Dhabi Investment Authority (ADIA) to Invest in Latin America
(Deal Streets Asia) Abu Dhabi Investment Authority (ADIA)’s real estate team stated that it will continue to seek out opportunities in Latin America. Middle Eastern sovereign wealth funds have been seen to be expanding real estate portfolios across the region. Read more
Paladin Realty Partners To List a CERPI For MXN$4b on the BMV (en español)
(El Economista) Real Estate investor Paladin Realty Partners is preparing to list a CERPI for MXN$4b on the BMV. The proceeds will be invested in housing projects, offices, hospitals, and shopping centers in Brazil, Colombia, Mexico, and Peru. Read more
Yellowstone Capital Partners Closes US$300m for Colombia Real Estate Fund II
(Press Release) Colombian private equity real estate firm Yellowstone Capital Partners has reached a hard cap of US$300m for Yellowstone Real Estate Opportunity Fund II, securing commitments from pension funds, insurance companies, endowments, and family offices, including a 5% GP commitment. Yellowstone’s previous Colombia-focused real estate fund, YCP I, closed with US$95m in commitments in 2016 and is fully invested in a diversified real estate portfolio. Read more
Ivanhoé Cambridge and Citibanamex Afore Invest US$313m in Gran Ciudad
(Press Release) Gran Ciudad closed a Real Estate Fund of US$313m with commitments from Ivanhoé Cambridge the real estate investment arm of Canadian Pension Fund CDPQ and from Citibanamex Afore, the second largest pension fund manager in Mexico. Gran Ciudad will invest in multifamily rental housing properties in urban markets within Mexico. Read more
Hemisfério Sul Investimentos Buys Icon Realty I Real Estate Investment Fund for R$620m (en español)
(Lex Latin) Brazilian real estate investment firm Hemisfério Sul Investimentos (HSI) purchased the entire portfolio of the Icon Realty I Real Estate Investment Fund administered by BTG Pactual. HSI paid R$620m for the portfolio which consists of 32 real estate properties in Brazil. Read more
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6ª Conferência Brasileira de Venture Capital - Florianópolis
Hosted by ABVCAP | August 12-13, 2019 | Florianópolis
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BlastU 2019
Hosted by BlastU | August 13-14, 2019 | São Paulo
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BayBrazil Annual Conference
Hosted by BayBrazil | August 22, 2019 | Menlo Park, CA
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LAVCA Week
Hosted by LAVCA | September 23-26, 2019 | New York, NY
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GIIN Investor Forum
Hosted by GIIN | October 2-3, 2019 | Amsterdam, Netherlands
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Peru Venture Capital Conference
Hosted by COFIDE | October 16-17, 2019 | Lima
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PERE America
Hosted by PEI | October 29-30, 2019 | New York, NY
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WeXchange
Hosted by IDB Lab | November 13-14, 2019 | Asunción, Paraguay
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FLII CA&C
Hosted by Alterna and New Ventures | November 13-14, 2019 | Antigua, Guatemala
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LAVCA | MIT Inside PE: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 20-23, 2019 | Miami, FL
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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
Contact Us
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