Latin American Private Capital Update April 10, 2018
April 10, 2018
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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

Advent Increases Stake in Estácio...     

Venture Capital News
Venture Capital News

KaszeK Ventures Leads Series A in Tienda Pago...

Real Estate News
Real Estate News

Equity International Invests in Argentine RE...


Tech Companies Back New Coalition to Support Latin America’s Record Breaking Startup Growth

Tech Growth Coalition

Last week, LAVCA launched the Latin American Tech Growth Coalition, with founding participants Google, Facebook, Qualcomm Ventures (the investment arm of Qualcomm Incorporated), Movile, Globant, Riverwood Capital, and Telefonica OpenFuture_.

Latin American startups received a record-breaking US$1.1b in venture capital investments in 2017, more than doubling the US$500m invested in the region in 2016, according to LAVCA Industry Data. International appetite has also grown significantly, with the number of global investors committing to Latin American startups more than doubling in the last five years.

quotation-markThe tech ecosystem in Latin America is incredibly relevant. By collaborating with our peers on the Latin American Tech Growth Coalition, we are able to more effectively set up the right conditions for Latin American startups to thrive, encouraging economic growth, tech innovation, and job creation at a pivotal moment in the region’s development.” -Pedro Less Andrade, Google

Coalition members are leading global tech companies and top Latin American tech companies with a common goal of identifying and advancing high growth startups in Latin America. The coalition seeks to create valuable networks and better access to information and best practices for the region’s vibrant tech startup community.

READ the press release in English, Spanish, or Portuguese


LAVCA | MIT INSIDE PRIVATE EQUITY Dealmaking in Latin America

Impact Investing

LAVCA and MIT are partnering on Inside Private Equity: Dealmaking in Latin America, an executive education program led by the industry’s most seasoned deal makers and esteemed MIT faculty, focused exclusively on Latin America, and rooted in real-life case studies.

quotation-markMIT is committed to working with the best and brightest fund managers in Latin America and what better way than to collaborate with LAVCA in this unique program." -The MIT Sloan School of Management

Prospective attendees include Senior Associates/Vice Presidents, Principals, and Directors from private equity firms, as well as professionals from family offices, corporations, business owners, and institutional investors. Relevant industry participants seeking to transition careers are also welcome to apply. Applicants will be admitted on a rolling basis. Limited seats available.

Course content is divided into two modules: Fund Cycle and Structure and Investing in Companies in Latin America. A sample curriculum is available here.

Over 80 participants have graduated from the program since its launch in 2015, initially with academic faculty from Wharton. As a reflection of the overwhelming response to practitioner led learning, LAVCA has increased the number of expert-led modules for the 2018 edition.


VC Investor Meetings & Workshops: Brazil, Argentina, Chile


VC in São Paulo (May 8): LAVCA will host the annual gathering of Brazilian early stage investors on May 8 at Google.

Workshop for Emerging VCs in Argentina (May 16) & Chile (May 17): This half-day program is designed for 1st- and 2nd-time fund managers, new corporate ventures, heads of accelerators, and notable angel investors. with a focus on preparing portfolio companies to receive follow-on capital, as well as a legal deep dive with Gunderson Dettmer Partner Brian Hutchings.

Participation at LAVCA's early stage investor meetings and workshops is by invitation only. Qualified investors may contact Julie Ruvolo ( to request an invitation. Access LAVCA's program calendar.


Latest Industry News

Private Equity News
Private Equity News

Advent Increases Stake in Brazilian Post-Secondary Education Company Estácio (em português)

(Valor Econômico) Global private equity firm Advent International has increased its stake in Brazilian post-secondary education company Estácio from 10.48% to 13.5%. Read more

Ashmore Group Acquires Peruvian Mining Firm Stracon

(Press Release) Emerging markets investment manager Ashmore Group and Steve Dixon, CEO and co-founder of STRACON GyM, have announced an agreement to acquire 87.59% of the stock of Peruvian mining company STRACON GyM. Read more

BTG Pactual Targets US$2b for LatAm Infrastructure Fund

(Infrastructure Investor) Brazil’s BTG Pactual is reportedly targeting between US$1.5b and US$2b in capital commitments for a new infrastructure fund, which will invest mainly across Latin America and opportunistically in Western Europe. Read more

Patria Investments Acquires Chilean Gym Chain O2 (en español)

(LexLatin) Brazilian-based alternative investment manager Patria Investments has acquired the Chilean gym chain O2 for US$35m. Read more

BlackRock to List CERPI on Mexico’s BMV (en español)

(Expansión) BlackRock is expected to list its debut CERPI (Certificado de Proyectos de Inversión) on the Mexican Stock Exchange (BMV) sometime in 2018. BlackRock’s CERPI will invest in infrastructure projects in Mexico and across Latin America. Read more

Lone Star Lends US$200m to Odebrecht's Atvos (en español)

(Gestión) Dallas-based private equity firm Lone Star Funds has loaned close to US$200m to Atvos, an arm of the Brazilian conglomerate Odebrecht, which focuses on the production and sale of ethanol and sugar. Read more

Riverstone's Avant Energy Increases Investment in Midstream Assets in Mexico

(Press Release) Mexican firm Avant Energy, which is backed by US private equity firm Riverstone Holdings, has announced it will increase its previous investment of US$200m in SUPERA, a network of terminals to supply refined petroleum products in North-Central Mexico, to US$500m. Read more

Grupo Proeza Acquires Stake in Ainda, Energía & Infraestructura (en español)

(LexLatin) Mexican diversified holding group Grupo Proeza has acquired a 22% stake in local energy and infrastructure fund manager Ainda, Energía & Infraestructura, which recently raised a US$236m CKD vehicle to invest in the energy, transportation, and water sectors across Mexico. Read more

Venture Capital News Venture Capital News

KaszeK Ventures Leads US$7.5m Series A in Tienda Pago

(Accion) KaszeK Ventures led a US$7.5m Series A investment in Tienda Pago, a provider of short-term working capital for small businesses in Mexico and Peru, with participation from new investors QED Investors and Oikocredit, and existing investors Accion Venture Lab and Agrega Partners. Read more

monashees+ and Grishin Robotics Lead US$9m Seed Round in Brazil Bike-Share Startup Yellow

(TechCrunch) monashees+ and Grishin Robotics led a US$9m seed investment in Yellow, a dockless bike service launching in São Paulo. Read more

Tiger Global Management Leads US$30m Series D in Brazil's ContaAzul

(Press Release) Tiger Global led a US$30m Series D investment in ContaAzul, with participation from Endeavor Catalyst. Ribbit Capital led the company’s previous R$20m round in 2015 with participation from monashees+, Tiger Global, Valar Ventures, and 500 Startups. Read more

e.Bricks Ventures and Vox Capital Lead Series A in Brazil's Sanar

(Press Release) e.Bricks Ventures and Vox Capital made an undisclosed Series A investment in Sanar, a Brazilian edtech startup designing customized online training for careers in healthcare. Read more

Redpoint eventures and Others Invest US$16m in Pipefy (em português)

(Valor Econômico) eTrinity Ventures, Openview, Redpoint eventures, Funders Club, Valor Capital, ONEVC, and Edelweiss made a US$16m investment in Pipefy, a business process optimization platform that was founded in Brazil. Previous investors include 500 Startups, Founders Fund, and others. Read more

Vostok Emerging Finance leads R$12m Series A in Brazil's FinanZero

(Press Release) Vostok Emerging Finance led a R$12m investment in FinanZero, a Brazilian credit marketplace, with participation from Webrock Ventures, Centro, and others. Read more

Partners Group to Launch US$1b Social Impact Fund

(Financial Times) Switzerland-based private markets investment manager Partners Group will launch a US$1b global social impact fund with an investment strategy in line with the United Nations’ Sustainable Development Goals. Read more

Trebol Capital & Others Make Seed Investment in Mexico's Capptu (en español)

(AMEXCAP) Capptu, a Mexican technology startup that generates advertising content through crowdsourcing, secured a seed investment of MXN$11m from Trebol Capital and other VC investors. Read more

SEEK Makes R$23m Follow-On Investment in Argentina’s Workana (em português)

(E-Commerce News) Australian jobsite SEEK made a R$23m investment in freelance labor platform Workana. SEEK led a R$8m round in 2017. Previous investors include NXTP Labs and DMGT. Read more

Brazilian Marketplace App Singu Raises R$10m (em português)

(DCI) Singu, a Brazilian marketplace platform for beauty and wellness services, raised R$10m from undisclosed investors.  Read more

Brazil's Toro Investments Receives R$46m (em português)

(DCI) Brazilian fintech firm Toro Investimentos is preparing to launch its brokerage platform after receiving a contribution of R$46m from investors. Read more

Superjob Ventures Makes Follow-On Investment in Brazil’s Apptite (em português)

(E-Commerce News) Brazilian venture builder Superjobs Ventures made an undisclosed investment in Apptite, an artisanal food delivery platform. Superjobs previously invested R$1m. Read more

Latin America Angels Society Makes Undisclosed Investment in Brazil's Play2sell (em português)

(Startse) The Latin America Angels Society made an undisclosed investment in Play2sell, a Brazilian construction management app. Read more

Real Estate News Real Estate News

Equity International & Goldman Sachs Merchant Banking Division Invest in Argentine Real Estate

(Press Release) Equity International, Goldman Sachs Merchant Banking Division, and Centaurus Capital, in partnership with Grupo Pegasus, announced the formation and US$300 million investment of ARG Realty Group, a commercial real estate company based in Buenos Aires. Read more

Tishman to Develop Real Estate Projects in São Paulo (em português)

(Valor Econômico) US-based private real estate investment firm Tishman Speyer is readying the launch of new residential, commercial, and mixed-use real estate projects in São Paulo. Read more

CPG Real Estate Sells Panamanian Hotel to Decameron (en español)

(Press Release) US-based private equity real estate firm CPG Real Estate has sold the hotel Golf, Beach Resort & Villas located in Playa Blanca, Panamá, to Colombia-based lodging company Decameron, which received backing from Equity International. Read more

Alignmex to Develop 5,000 Rental Housing Units in Mexico (en español)

(Centro Urbano) Alignmex Real Estate Capital, through its subsidiary Sí Renta, will develop 5,000 rental housing units throughout Mexico over the course of the next five years. Read more

Thor Urbana & Four Seasons to Develop New Luxury Resort in Belize

(Press Release) Thor Urbana, Inmobilia Desrrollos, and GFA Grupo Inmobiliario have partnered with Four Seasons to develop a new luxury resort located on Belize’s Caye Chapel private island. Read more

LAVCA & Industry Events
Add to Calendar
Latin America GRI
Hosted by GRI Real Estate Club | April 11-12, 2018 | New York, NY
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2018 Chicago Booth Emerging Markets Summit
Hosted by The University of Chicago Booth School of Business | April 14, 2018 | Chicago, IL
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PERE Investor Forum Los Angeles 2018
Hosted by PERE | April 18-19, 2018 | Los Angeles, CA
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VC in São PauloLAVCA-Icon
Hosted by LAVCA | May 8, 2018 | São Paulo, Brazil
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Workshop for Emerging VCs in ArgentinaLAVCA-Icon
Hosted by LAVCA | May 16, 2018 | Buenos Aires, Argentina
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Workshop for Emerging VCs in ChileLAVCA-Icon
Hosted by LAVCA | May 17, 2018 | Santiago, Chile
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20th Annual IFC/EMPEA Global Private Equity Conference
Hosted by IFC & EMPEA | May 15-16, 2018 | Washington, D.C.
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2018 ABVCAP Conference
Hosted by ABVCAP | June 4-5, 2018 | São Paulo, Brazil
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Proptech Latin American Summit
Hosted by Marketing in Real Estate | June 7, 2018 | Santiago de Chile, Chile
LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell.

Latin American Venture Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018

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