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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 spoke with Angel Uribe, Partner at LAVCA+ member firm TPG, about TPG Growth's exposure to Latin America to date and the trend of tech-enabled services and products continuing to grow in sectors like education, financial services and healthcare.
 Today, Latin America is already one of the largest and fastest growing markets for some of our global consumer technology businesses such as Uber, AirBnB, and Spotify.
Uribe also talked about how Latin America represents an important opportunity for The Rise Fund given the region’s development potential and how collinearity between investment success and impact is key.
Latin America represents an important opportunity for The Rise Fund given its development potential but also broader sectoral trends taking place in the region: a focus on education and digital literacy, a proliferation of mobile technology and regional and national efforts to expand clean energy.
TPG Growth’s investments in Latin America include Azul Linhas Aereas, one of largest airlines in Brazil, Resultados Digitais, the leading marketing automation platform for SMBs in the region, and Digital House, an education platform providing coding and digital skills in Brazil and Argentina.
Read the full article here.
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VC investment in Latin American startups has quadrupled since 2016 to a record US$2b in 2018, according to LAVCA data.
Investment by traditional VCs as well as corporates such as Movile, Naspers, SoftBank, Tencent, and Delivery Hero are supporting a new wave of investments in startups in the region, including record US$100m+ rounds in logisitics and distribution companies like iFood, Loggi, and Rappi, as well as fintechs like Nubank. And this doesn’t even account for the record investments we have already seen in 2019 like Rappi’s latest US$1b round from Softbank (details below).
Access LAVCA’s Annual Review of Tech Investment in Latin America, an 8-page report, prepared for and presented at Riverwood Capital’s Latin American Tech Forum in Miami, with insights on the major markets and sectors, top deals by amount, most active investors and new players, co-investments, and more.
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On the heels of record investment dollars in Latin American startups in 2018 and the announcement of the new US$5b Softbank Latin American Tech Fund, LAVCA published an Inaugural Survey of Latin American Startups.
Created with support from Latin American Tech Growth Coalition member Facebook, The Survey is a 25+ page report that captures key insights from 227 startups.
88% of responses come from Founders and C-level executives. The majority of responding startups have raised US$500k to US$100m+ in funding.
The survey was conducted by LAVCA in Q4 2018 and startups were verified by LAVCA’s research team across a range of primary and secondary sources.
KEY FINDINGS:
> Experience: 66% of participating founders have started multiple companies; 59% advise other startups.
> Growth: 89% of startups reported positive net revenue growth for 2017-2018.
> Impact: 59% are measuring some form of impact; job creation and financial inclusion top the list.
Thanks to all who participated. Download it here.
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Private Equity News
Gavea Exits Grupo São Francisco through Sale to Hapvida (em português)
(Brazil Journal) Gavea Investimentos fully exited its minority stake in health conglomerate Grupo São Francisco through a strategic sale to health insurance provider Hapvida. Read more
MPC Capital Acquires Costa Rican Wind Farm for US$50m
(Press Release) German private equity manager MPC Capital acquired Tilawind a 21MW wind farm in Costa Rica for US$50m and will directly administer the farm. Trinidad & Tobago’s largest corporate conglomerate ANSA McAL co-invested in the deal. Read more
GEF Completes R$300m Final Close on Brazil Focused Private Equity Fund (em português)
(Valor Econômico) GEF Capital Partners completed a final close on a R$300m private equity fund targeting medium-sized Brazilian companies with sound ESG principles. Read more
Vinci Acquires Minority Stake in Brazilian Restaurant Group Drumattos (em português)
(Valor Econômico) Vinci Partners acquired a minority stake in restaurant group Drumattos for an undisclosed amount. Drumattos controls two seafood chains and will use the capital to expand its Camarada Camarão franchise to other locations in Brazil. Read more
Evolvere Rebrands to Miranda Capital Partners
(Press Release) Venezuelan private equity firm Evolvere Capital rebrands to Miranda Capital Partners in anticipation of expanding their investment activities. Read more
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 Venture Capital News
SoftBank Invests US$1b in Rappi
(Press Release) SoftBank will invest US$1b in Colombian delivery app Rappi, split 50/50 between SoftBank’s Vision Fund and the new SoftBank Innovation Fund. Read more
General Atlantic & SoftBank Invest in Mexico's Clip
(Reuters) General Atlantic and SoftBank made an undisclosed investment in Mexican payments startup Clip. Reuters reports a round near US$100m at a valuation near US$400m. Read more
Riverwood Capital Led a US$50m Series C in Technisys
(Press Release) Riverwood Capital led a US$50m Series C in Technisys, a digital software platform operating in Latin America, the US, and Canada. Read more
Magazine Luiza Acquires Brazil's Netshoes (em português)
(Brazil Journal) Magazine Luiza acquired Brazilian ecommerce brand Netshoes for US$62m. Read more
Chromo Invest Leads Series B Investment in Fitpass (en español)
(AMEXCAP) Chromo Invest led an undisclosed Series B investment in Fitpass, a Mexican fitness membership platform. Read more
Redwood Ventures, Angels & A Family Office Invest US$1.3m in Crabi (en español)
(Contxto) Crabi, a Mexican auto insurance startup, raised a US$1.3m seed round led by an undisclosed family office, with participation from Redwood Ventures and angels. Read more
Wayra Colombia Invests in Sales Management Startup Peiky (en español)
(Press Release) Wayra Colombia made an undisclosed investment in Peiky, a Colombian sales management tool for social media platforms. Read more
Seaya Ventures Led a US$4m Investment in MUY Tech
(Press Release) Seaya Ventures led a US$4m investment in MUY Tech, a Colombian restaurant management platform. Read more
Atlant Fonder, Dunross & Co, Vostok Emerging Finance Invest R$42m in FinanZero (em português)
(Exame) Brazilian credit marketplace FinanZero raised R$42m from Atlant Fonder, Dunross & Co, Vostok Emerging Finance, and others. Read more
Horácio Lafer Piva & Angels Invest US$5m in Brain4care (em português)
(StartSe) Brazilian medical device startup brain4care raised US$5m from Horácio Lafer Piva and other angel investors. Read more
E.bricks Invests Series A in Brazilian Fintech Bcredi (em português)
(Baguete) e.Bricks Ventures made an undisclosed Series A investment in Bcredi, a Brazilian real estate credit fintech. Read more
Riverwood Capital Invests US$20m Series B in Omie
(Crunchbase News) Riverwood Capital made a US$20m Series B investment in Omie, a Brazilian ERP platform targeting small businesses. Read more
Verus Group & Angels Invest R$800k in Fix it
(Press Release) Verus Group and Brazilian angels invested R$800k in Fix it, a Brazilian company producing biodegradable and thermoformable plastic materials as an alternative to casts for joint immobilization. Read more
Access Industries led a US$100m Investment in Panama’s Startup Selina
(TechCrunch) American multinational Access Industries led a US$100m investment in Panama’s Selina, a global network of hostels and co-working spaces, at a post-money valuation of US$850m. CVC Grupo Wiese and existing investor Colony Latam Partners (formerly Abraaj Group LatAm) also participated in the round. Read more
Inter-American Development Bank Invests US$500K in Zolvers
(LatAm List) Digital hiring platform Zolvers raised US$500k from the IDB. Zolvers is based in Argentina. Read more
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 Real Estate News
Blackstone Transfers 35% Stake in Brazil’s Alphaville Urbanismo to Pátria (em português)
(Valor Econômico) Blackstone transferred its 35% stake in Brazilian real estate developer Alphaville Urbanismo to its partner Pátria Investimentos. Blackstone and Pátria originally invested R$1.4b in June 2013 for a 70% stake in the company. The two firms formed a partnership in 2010 and Blackstone retains a 40% stake in Pátria. Read more
XP Hotéis Acquires 2 Hotels in São Paulo from the Habraset Hoteleira Group (en español)
(LexLatin) The XP Hotéis FII Real Estate investment fund administered by XP Asset Management acquired two hotels in São Paulo from the Habraset Hoteleira group. Read more
Patria Partially Exits Brazil Senior Living with Sale to Orpea
(Global Legal Chronicle) Patria Investimentos partially exited nursing care conglomerate Brazil Senior Living through the sale of a 20% stake to French nursing care corporation Orpea. The agreement included provisions allowing Orpea to acquire the remainder of Patria’s stake over the next five years. Read more
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Lima Fintech Forum 2019
Hosted by Emprende UP, Universidad del Pacífico | May 8-9, 2019 | Lima, Perú
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The IFC/EMPEA Global Private Equity Conference
Hosted by the IFC & EMPEA | May 13-16, 2019 | Washington, DC
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LAVCA Encontro Anual Brasil
Hosted by LAVCA | May 15, 2019 | São Paulo
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14° Summit de Capital Privado
Hosted by AMEXCAP | May 20-22, 2019 | Mexico City
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Foro Argentino de Inversiones 2019
Hosted by ARCAP | May 22, 2019 | Buenos Aires
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Congresso ABVCAP 2019
Hosted by ABVCAP | May 23-24, 2019 | São Paulo
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SuperReturn Emerging Markets
Hosted by SuperReturn | June 24-26, 2019 | Amsterdam
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LAVCA Week
Hosted by LAVCA | September 23-26, 2019 | New York, NY
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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 Caitlin Mitchell. |
The Association for Private Capital
Investment in Latin America
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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