Latin American Private Capital Update - October 29, 2019 Latin American Private Capital Update October 29, 2019
October 29, 2019
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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 and Essex Woodlands Exit Biotoscana...

Venture Capital News
Venture Capital News

SoftBank Leads an Investment in Olist...     

Real Estate News
Real Estate News

Vinci Partners Acquires Prudenshopping...



LAVCA Venture Investors logo
LAVCA FO/VC Workshops

Building on the success of VC training programs in New York, Silicon Valley, Buenos Aires, and Santiago, LAVCA will host two Family Office/VC Workshops next month:

>> Medellin, Nov. 12 at RutaN
💸 Fund Manager Q&A with Rodrigo Baer, Partner, Redpoint eventures 
🔥 Fireside Chat: Miguel McAllister, Co-Founder & CEO, Merqueo
Legal Deep Dive: Dan Green, Partner, Gunderson Dettmer
...access Medellin agenda

>> Santiago, Nov. 14 at Carey 
🔥 Fireside Chat with Chaq Cuevas, Co-Founder, Cornershop
🔥 Fireside Chat: Matias Muchnick, Founder & CEO, NotCo
💸 Fund Manager Q&A: Julio Vasconcellos, Partner, Canary
📜 Legal Deep Dive: Dan Green, Partner, Gunderson Dettmer
...access Santiago agenda

LAVCA thanks lead sponsor Amazon Web Services, Inc., as well as the Latin American Tech Growth Coalition, Gunderson Dettmer, and hosts RutaN and Carey for their support to deliver practical training to Latin America’s emerging cohort of tech investors.

Qualified investors can REGISTER for Medellin and Santiago. Contact Julie Ruvolo ( with any questions.


Entrepreneur Spotlight: Proptech

Luis Cervantes
Read More

LAVCA recently spoke with proptech founders from Loft (Brazil) and Flat (Mexico) about their strategy, funding, model, and growth, as well as potential for the sector in Latin America.

Loft is a Brazilian proptech that aims to reinvent the process of buying and selling real estate, founded by Mate Pencz and Florian Hagenbuch (Co-CEOs) in 2018.

Pencz and Hagenbuch are former founders of Printi, and currently also Partners at Brazilian VC Canary.

Pencz and Hagenbuch wanted to do a marketplace play with vertical integration, something with a big market that they could create from Brazil and globalize. That said, Pencz doesn’t necessarily see globalizing as required for their success:

quotation-markWe don’t need to grow outside of Brazil to be relevant. There are real and big problems to solve in the local market: Healthcare, logistics, finance, insurance…” 

Flat is a Mexican proptech employing the iBuyer model to make the home-buying process less painful on both sides of the transaction. Co-founders Victor Noguera and Bernardo Cordero met at UC Berkeley and later co-founded STARTegy Venture Builder.
Noguera, from Spain, previously served as a venture advisor to Quona Capital.

Cordero spoke about proptech at LAVCA’s 2019 Venture Investors Annual Meeting, with Gustavo Vaz (EmCasa), Jeronimo Uribe (La Haus), and Lucas Vargas (GrupoZAP).

Flat started with the traditional iBuyer model — buy, renovate, sell. Whereas it typically takes 6-8 months to sell a home in MX; Flat buys house in cash in a matter of days.

quotation-markWe see a lot of listing sites in Mexico, brokerage services with new angles, but they are not solving a lot of the issues we see in the market.”

 While popularized in the US, the founders also argue iBuyer is one of those models that should work better in Mexico and Latin America.

READ more insights from Loft and Flat in LAVCA’s spotlight on proptech.


WeXchange Nov. 13-14 in Asuncion

LAVCA Summit

Join the seventh edition of the largest forum in Latin America and the Caribbean that connects women entrepreneurs in STEM with mentors and investors.

WeXchange 2019 is taking place on Nov. 13-14 in Asuncion, Paraguay. Access the agenda.

Register here.

NEW Listen to the WeXchange podcast for conversations with women entrepreneurs and ecosystem experts, including:

Ep. 1: Zolvers founder Cecilia Retegui on transforming the domestic work industry in Latin America.

Ep. 2: GlamST founder Agustina Sartori on beauty-tech via augmented reality.

Ep. 3: Wormhole founder Sally Buberman on preparing human capital for digital transformation.


Latest Industry News

Private Equity News
Private Equity News

Advent & Essex Woodlands Exit Biotoscana Via Sale to Knight Therapeutics

(Reuters) Advent International and Essex Woodlands fully exited Brazilian pharmaceutical company Biotoscana through a strategic sale to Canadian pharmaceutical company Knight Therapeutics. Advent and Essex Woodlands‘ 51% stake was purchased for R$596m. Read more

Patria Completes a Follow-on Investment in Alphaville Urbanismo (em português)

(Valor Econômico) Patria Investimentos completed a follow on investment in Alphaville Urbanismo by acquiring Brazilian real estate developer Gafisa’s remaining 21.2% stake for R$100m. Read more

Trivèlla M3 Investimentos Acquires AMcom for R$15m (em português)

(Startupi) Brazilian fund manager Trivèlla M3 Investimentos acquired a minority stake in Brazilian SaaS technology company AMcom for R$15m. Read more

Colombia’s Government Awards a Metro Construction Contract to Consortium Apca Transmimetro

(Reuters) The government of Colombia awarded the construction of the Bogotá metro to a consortium composed by China’s Harbour Engineering Company, Xi’an Metro Company, Canada’s Bombardier Inc. Read more

FTV Capital Makes a Follow-on Investment in EBANX  (em português)

(Brazil Journal) FTV Capital, a US-based growth equity firm, made an undisclosed follow-on investment in Brazilian payments processor EBANX at a reported valuation over US$1b. FTV Capital invested US$30m in 2018 with participation from Endeavor Catalyst. Read more

Global Asset Capital Acquires a Minority Stake in Árbore Engenharia (en español)

(LexLatin) US Fund manager Global Asset Capital acquired a minority stake in Brazilian real estate developer Árbore Engenharia. Financial terms of the deal were undisclosed. Read more

Small Enterprise Assistance Funds (SEAF) Raises US$47m Toward Caribbean SME Growth Fund

(Jamaica Gleaner) US based private equity firm Small Enterprise Assistance Funds (SEAF) has raised US$47m of its US$100m target Caribbean SME Growth Fund. SEAF has begun evaluating companies in the Caribbean for investment and hopes for a final close on the fund in Q1 2020. Read more

Fleury Signs Agreement to Acquire Diagmax for R$80.3m (em português)

(Valor Econômico) Brazilian medical diagnostics company Fleury signed an agreement to acquire Recife based medical diagnostics company Diagmax for R$80.3m. The transaction if approved by CADE will provide an exit for Vinci Partners. Read more

Venture Capital News Venture Capital News

SoftBank Leads a R$190m Investment in Olist (em português)

(Neofeed) SoftBank led a R$190m investment in Olist, a Brazilian e-commerce platform, with follow-on from Redpoint eventures and Valor Capital. Read more

Qualcomm Ventures Leads a R$40m investment in idwall (em português)

(Globo) Qualcomm Ventures led a R$40m investment in idwall, a Brazilian validation and identification services startup, with participation from ONEVC and Grupo Globo, and follow-on from monashees and Canary. Read more

Fifth Wall Ventures Leads a US$10m Series A Investment in Cobli (em português)

(Press Release) Fifth Wall Ventures led a US$10m investment in Cobli, a Brazilian telematics and fleet management SaaS platform, with participation from Valor Capital, NXTP Ventures, GLP, and angels including Hans Tung (GGV), and Sheel Tyle (Amplo). Read more

Canary and Valor Capital Lead a R$20m Investment in Alicerce (em português)

(Brazil Journal) Canary and Valor Capital led a R$20m investment in Alicerce, a Brazilian network of education centers to supplement students in the public school system living in city peripheries. Angels including Armínio Fraga, David Feffer, Luiz Fernando Figueiredo, Wolff Klabin and Daniel Goldberg participated in the round. Read more

Parallax and Others Invest R$20m in Cerc (em português)

(Valor Econômico) Brazilian fintech Cerc raised R$20m from Parallax and an undisclosed investor. Read more

NFX Leads a US$4.4m Investment in Zubale

(TechCrunch) NFX led a US$4.4m investment in Zubale, a Mexican crowdsourcing platform for retailers to conduct point-of-sales analysis, with participation from Industry Ventures, Liquid 2 Ventures, XFactor fund, and angels including Jonathan Swanson (Thumbtack), Sergio Romo (Grow), and Bob White (Bain Capital). Read more

Astella Leads a R$15m Investment in Exact Sales

(Press Release) Astella led a R$15m investment in Exact Sales, a Florianopolis-based pre-sales optimization platform, with follow-on from CVentures and Vesper Ventures. Read more

Elevar Equity Leads a US$3m Series A in Canasta Rosa

(Press Release) Elevar Equity led a US$3m Series A in Canasta Rosa, a Mexico-based marketplace for DIY and handmade goods, with participation from WPSS Consumer Investments and angels from Mercado Libre, P&G, Fitpass, and others. Read more

ALLVP and InQlab Invest US$2.5m in Slang (en español)

(Portafolio) ALLVP and InQlab invested ~US$2.5m in Slang, a Boston-based edtech focused on career development. Read more

Confrapar Invests R$7.5m in Compass 3D (em português)

(Startupi) Confrapar invested R$7.5m in Compass 3D, a consumer dental tech company based in Belo Horizonte. Read more

Redpoint eventures and Angels Invest R$4.5m in Antecipa (em português)

(Valor Econômico) Redpoint eventures and angels invested R$4.5m in Antecipa, a B2B receivables platform. Read more

EDP Ventures Brasil and Criatec 3 Invest R$4.5m in Fractal Engenharia e Sistemas (em português)

(Startupi) EDP Ventures Brasil and Criatec 3, managed by Inseed Investimentos, invested R$4.5m in Fractal Engenharia e Sistemas, a Brazilian smart monitoring system for hydroelectric dams. Read more

Acumen Invests in SUNCOLOMBIA

(Press Release) Acumen LatAm Capital Partners made an undisclosed investment in SUNCOLOMBIA, a Colombian solar energy company providing access to reliable energy in rural areas. Read more

Bossa Nova, 42K, Gavea Angels, and Hangar 8 Invest in GeekHunter (em português)

(Startupi) GeekHunter, a Brazilian HRtech platform for hiring software engineers, raised R$2m from Bossa Nova Investimentos, 42K Investimentos, Gavea Angels, and Hangar 8. Read more

North Star and Axen Capital Invest R$1.2m in GlooPay (em português)

(Startupi) GlooPay, a Brazilian payments startup focused on the under-banked, raised R$1.2m from North Star and Axen Capital. Read more

Alaya Capital Partners Invests in Inti Tech, Entelai, and Aquabyte (en español)

(LaVoz) Alaya Capital Partners made undisclosed investments in Inti Tech, a Chilean manufacturer of robots to clean solar panels without use of water; Entelai, an Argentine healthtech working on image-based diagnosis; and Aquabyte, a US/Norwegian aquaculture monitoring startup. Read more

Verus Group Invests in Alstra (em português)

(Baguete) Verus Group made an undisclosed investment in Alstra, a Brazilian job matching platform. Read more

Real Estate News Real Estate News

Vinci Partners Acquires Prudenshopping for $199.7m (em português)

(N Plus) Vinci Shopping Centers Real Estate Investment Fund administered by Vinci Partners acquired a 100% stake in shopping mall Prudenshopping in São Paulo for R$199.7m. Read more

BR Properties to Purchase Faria Lima 4440 Building for R$310.7m (em português)

(Money Times) BR Properties agrees to purchase 50% stake of Faria Lima 4440 building in São Paulo for R$310.7m. Read more

BR Properties Acquires Properties from Hemisferio Sul Investimentos (em português)

(Money Times) BR Properties acquired two multiuse condominium properties still under development from Hemisferio Sul Investimentos. The transaction transferred a 100% stake in Corporate Tower B2 – Paineira and a 30% stake in Corporate Tower B3 – Jatobá to BR Properties. The total value of the acquisition was approximately R$766.1m. Read more

Patria Announces Acquisition of Vila Olimpia Corporate Building (em português)

(Investimentos e Notícias) Patria Investimentos has announced the acquisition of commercial buildings Vila Olimpia Corporate Building through FII, Its Real Estate Investment Fund. Read more

BHG Signs an Agreement to Acquire a 76% Stake in Novotel (em português)

(Panrotas) Brazil Hospitality Group (BHG) signed an agreement to acquire a 76% stake in Novotel São Paulo Berrin. The Hotel opened in August 2018 and offers 209 rooms. Financial terms of the deal were undisclosed. Read more

LAVCA & Industry Events
PERE America
Hosted by PEI | October 29-30, 2019 | New York, NY
Cambridge´s Latin American Business Summit (LABS)
Hosted by University of Cambridge | November 3-8, 2019 | Santiago, Chile
Scotiabank's Latin America Innovation & Disruption Forum
Hosted by Scotiabank | November 12-13, 2019 | Mexico City, MX
Hosted by IDB Lab | November 13-14, 2019 | Asunción, Paraguay
Hosted by Alterna and New Ventures | November 13-14, 2019 | Antigua, Guatemala
The Global Steering Group for Impact Investment Impact Summit
Hosted by GSG | November 18-20, 2019 | Santiago, Chile
LAVCA Family Office/VC Workshop in MedellinLAVCA-Icon
Hosted by LAVCA | November 12, 2019 | Medellin, Colombia
LAVCA Family Office/VC Workshop in SantiagoLAVCA-Icon
Hosted by LAVCA | November 14, 2019 | Santiago, Chile
VII Innovation Summit of The Pacific Alliance
Hosted by The Pacific Alliance (Chile,Colombia,Mexico,Peru) | November 20-21, 2019 | San Francisco, California
LAVCA | MIT Inside PE: Dealmaking in Latin AmericaLAVCA-Icon
Hosted by LAVCA & MIT | November 20-23, 2019 | Miami, FL
FINNOSUMMIT Miami by LendIt Fintech
Hosted by LendIt Fintech and Finnovista | December 3-4, 2019 | Miami, FL
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
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New York, NY 10018

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