Latin American Private Capital Update - August 27, 2019 Latin American Private Capital Update August 27, 2019
August 27, 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

The Carlyle Group Acquires Three...

Venture Capital News
Venture Capital News

Riverwood Capital Leads a US$50m Series D...

Real Estate News
Real Estate News

BTG Agrees to Acquire 7 BR Malls for US$184m...



LAVCA Summit

Marcelo Claure, CEO of Softbank International is confirmed for the Brazil Keynote Breakfast, hosted by ABVCAP/Apex Brasil, at the 2019 LAVCA Summit & Investor Roundtable (September 23-25) in New York.

Additional speakers include 57 Stars, AC Capitales, ACON Investments, Actis, Advent International, Afore XXI Banorte, AP2, Aqua Capital, BID Invest, BlackRock, Brookfield, CAF, Capital Group Private Markets, CDPQ, Clip, Colony Capital, CPPIB, Crescera Investimentos, Darby, e.Bricks Ventures, Equity International, Fondo de Fondos, Gavea Investimentos, Hamilton Lane, Hasta Capital, idi Emerging Markets, IG4 Capital, ILPA, Interenergy, Jaguar Growth, KPMG, L Catterton, Lafise Investment Management, Lexington Partners, LIV Capital, Megeve Investments, MercadoLibre, Nexxus Capital, OTTP, Pantheon, Peninsula Participações, Puerto Asís, Redpoint eventures, Resultados Digitais, Riverwood Capital, Rock Creek, Siguler Guff & Company, StepStone Group, TC Latin American Partners, Temasek, The Carlyle Group, The IFC, Victoria Capital Partners, Vinci Partners, Washington University IMC.

Please note the following updated times for the Summit program including new topics and content on Wednesday, Sept. 25:

September 23 | 6:00pm – 8:00pm: LAVCA Member & LP Reception (hosted by Advent International)

September 24 | 8:45am – 6:30pm: Full Day PE Program, Including Brazil Keynote Breakfast

September 25 | 8:45am – 3:15pm UPDATED TIMING & CONTENT:

    7.30am: ILPA Breakfast (qualified institutional investors only)
    8.45am – 10:00am: Mexico Keynote Breakfast
    10.30am – 12.30pm: NEW Real Assets Program
    12.30pm – 3.15pm: NEW LP Keynote Luncheon & Institutional Investor Program
    Program Concludes

The 2019 program also includes a separate program exclusive to family offices (September 23); an ILPA Institute Pension Fund Training (September 23).





LAVCA is seeking deal submissions for the sixth edition of The Latin American Private Equity Deal Book & ESG Cases. Access past editions here.

Open exclusively to LAVCA Members, firms can nominate investment cases for consideration for the deal book and the Latin American Private Equity Awards. Congratulations again to the 2018 winners Riverwood Capital, Aqua Capital, Linzor Capital Partners, and ACON Investments.

Complete the online submission form. A PDF submission form can be sent to fund managers upon request.

LPs and service providers can also nominate deals using this SHORT FORM.

Questions can be directed to Natalia Valencia.



Luis Cervantes

🦄 Tech UNICORNS are a more recent phenomenon in Latin America, as the size of an investment round that would normally generate a unicorn valuation has become available in a markedly increased capacity since 2017.

To track the emergence of these unicorns, LAVCA has created a Latin American Unicorn Leaderboard, current as of July 2019, and based on information reported by secondary sources linked to where possible.

For the purposes of the leaderboard, LAVCA defines unicorns as privately held tech companies with post-money valuations of US$1b+ based on their last disclosed valuation event.



idb lab
More Info.

IDB Lab, the innovation laboratory of the Inter-American Development Bank, is supporting the creation of an LAC-Korea Startup Fund that will provide early stage financing to two categories of startups/scaleups: LAC companies expanding within and beyond LAC (in particular Korea/Asia), and to Korean companies operating in or expanding to LAC.

IDB Lab is seeking a dedicated General Partner (GP) from both Korea and LAC regions who will be responsible for making all financial decisions for the proposed Fund.

SUBMIT an Expression of Interest by September 23, 2019.  

The selection will be made IDB Lab and independent experts.


Latest Industry News

Private Equity News
Private Equity News

The Carlyle Group Acquires Three Amusement Parks from Empresa Editora El Comercio (en español)

(LexLatin) The Carlyle Group acquired three amusement park subsidiaries of Empresa Editora El Comercio. The subsidiaries are Coney Island SAC Attractions in Peru, Divertrónica Medellín SAS in Colombia, and Yukids SpA in Chile. The financial terms of the transaction were undisclosed. Read more

Starboard Restructuring Partners Acquires 93% Stake in 3R Petroleum (en español)

(LexLatin) Starboard Restructuring Partners acquired a 93% stake in Brazilian oil and gas company 3R Petroleum. The financial terms of this transaction were undisclosed. In tandem with this acquisiton, 3R Petroleum acquired seven onshore and offshore oil production fields in Rio Grande do Norte for US$191m. Read more

CDPQ Acquires a Stake in Sanfer for US$500m

(Press Release) Caisse de dépôt et placement du Québec (CDPQ) acquired a minority stake in Mexican pharmaceutical company Sanfer for US$500m. General Atlantic will maintain its minority stake in Sanfer and work in partnership with CDPQ. Read more

Crayhill Capital Management Invests US$100m of Debt Financing in Mutuo Financiera

(Press Release) Mutuo Financiera, a Mexican vehicle fleet leasing company focused on clean energy passenger transportation, raised US$100m in debt financing from Crayhill Capital Management to expand its fleet. Read more

TreeCorp Acquires a 26% Stake in Zul Digital (em português)

(Exame) TreeCorp Investimentos acquired a 26% stake in Zul Digital, a Brazilian parking management platform for public and private companies. Financial terms of the transaction were undisclosed. Read more

Cade Approves Sale of Schlumberger Oil and Gas Assets to WIS (em português)

(Fusões & Aquisições) The Administrative Council for Economic Defense of Brazil (Cade) approved the sale of Schlumberger's oil and gas assets to WIS – Wellbore Integrity Solutions Holdings. This is the first investment of WIS in Brazil’s oil markets. Read more

Venture Capital News Venture Capital News

Riverwood Capital Leads a US$50m Series D Investment in Resultados Digitais (RD Station)

(Press Release) Riverwood Capital led a US$50m Series D investment in Resultados Digitais, a Brazilian marketing automation platform for small businesses in Latin America, with participation from existing investors DGF Investmentos, Redpoint eventures, TPG Growth, and Astella Investmentos. Read more

Franklin Templeton, XP Asset Management and Others Invest R$167m in REBEL

(Yahoo Finance) Brazilian personal credit fintech REBEL raised R$167m from Franklin Templeton, XP Asset Management and others via a public offering of regular debentures. In 2018, REBEL raised US$4m from monashees, XP Investimentos, Point Break Capital, and family office J. Malucelli. monashees was the company’s first investor in 2017. Read more

Stanley Black & Decker Invests in Argentina's Iguanafix

(Reuters) Iguanafix, an Argentine marketplace for home improvement services, raised an undisclosed round from Stanley Black & Decker’s venture funding arm, in their inaugural investment in South America. Temasek led the company’s US$16m Series B in 2016, with participation from Qualcomm Ventures, Endeavor Catalyst and, RVC Capital. Read more

DGF Investimentos Invests US$3.5m in Sólides (em português)

(Baguete) DGF Investimentos invested US$3.5m in Sólides, a Brazilian talent management platform. This is the company’s first institutional investment. Read more

Redpoint and a.b.Seed Invest a US$2.2m Series A in Movidesk (en español)

(LexLatin) Redpoint eventures and a.b.Seed made a US$2.2m Series A investment in Movidesk, a Brazilian multi-channel help-desk platform. a.b.Seed invested previously in 2018. Read more

Criatec3 Invests R$2.7m in Neomode (em português)

(Fusões & Aquisições) Criatec3, managed by Inseed Investimentos, invested R$2.7m in Neomode, a Brazilian retail software platform. Read more

BNDES Announces Investments in VC Funds (em português)

(BNDES) BNDES announced investments in VC funds managed by A5, Axxon Group, Oria, Trivella M3 Investimentos, Triaxis Capital, Vox Capital, and Fundepar. Read more

Alacrity Mexico and Wesley Clover Closes Canada Fund I (en español)

(Press Release) Alacrity Mexico, in partnership with Wesley Clover, a Canadian investment management firm with global operations, closed its first seed fund, Canada Fund I. Read more

Grupo Mosaico Receives Cade's Approval to Acquire Buscapé from Naspers (em português)

(DCI) Grupo Mosaico, parent company of ecommerce app Zoom, received regulatory approval to acquire Buscapé from Naspers. Read more

Real Estate News Real Estate News

BTG Pactual Agrees to Acquire Seven BR Malls for US$184m

(Yahoo Finance) BR Malls, Brazil’s largest mall operator, has signed an agreement to sell seven of its malls to a real estate fund controlled by BTG Pactual for US$184m. Read more

BR Malls Acquires Additional 25.5% Stake in Shopping Iguatemi Caxias do Sul (em português)

(Money Times) BR Malls acquired an additional 25.5% stake in Shopping Iguatemi Caxias do Sul, a shopping mall in Rio Grande do Sul. BR Malls now has a 71% stake in the shopping center. The financial terms of the transaction were undisclosed. Read more

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

LAVCA & Industry Events
Hosted by LAVCA | September 23-26, 2019 | New York, NY
GIIN Investor Forum
Hosted by GIIN | October 2-3, 2019 | Amsterdam, Netherlands
Sustainable Investing in Emerging Markets Summit/ EMPEA Private Equity Masterclass
Hosted by EMPEA | October 8-10, 2019 | London, England
Peru Venture Capital Conference
Hosted by COFIDE | October 16-17, 2019 | Lima
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 | MIT Inside PE: Dealmaking in Latin AmericaLAVCA-Icon
Hosted by LAVCA & MIT | November 20-23, 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
589 8th Avenue, 18th Floor
New York, NY 10018

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