Latin American Private Capital Update February 27, 2018
February 27, 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

Apollo Enters Agreement with Brazil’s Starboard...          

Venture Capital News
Venture Capital News

IFC & TheVentureCity Invest in Brazil’s RecargaPay...

Real Estate News
Real Estate News

Paladin Announces New Real Estate Projects in LatAml...


4th Edition LAVCA Deal Book + Award Luncheon

NEW: 4th Edition LAVCA Deal Book & Award Luncheon

The Latin American Private Equity Deal Book & ESG Cases, published with the support of BID Invest, details 16 PE investments across stages, countries, and sectors including consumer/retail, agribusiness, renewable energy, financial services, real estate, oil & gas, and more.

These deals and others submitted directly to LAVCA are also in consideration for a PE/ESG award. LAVCA will announce award winners at the PEI/PRI Responsible Investment Forum in New York on March 20.

LAVCA Member general partners and qualified institutional investors are invited to the award luncheon. RSVP to for a complimentary pass (attendance is limited to 1 person per firm).

Members interested in attending the full 2-day PEI/PRI Responsible Investment Forum receive a 15% LAVCA Member discount. Contact for details.


Mapping: Global Investors in Latin American Startups

Global Investor Mapping

Some of Silicon Valley’s biggest names are now active in Latin America, investing in startups alongside Europeans, Asians, and global corporate VCs. 25 global investors made debut investments in Latin America in 2017 alone, and the total number of global investors in the region's startups has more than doubled since 2013 (from 36 in 2013 to 80 in 2017).

Today LAVCA publishes a Mapping of Global Investors Active in Latin American Startups, including a deep dive of highlighted investments.

NEW global investor lists:

US Investors in Latin American Startups (2013-2017)

New Global Investors in Latin American Startups (2017)

Global Corporate Investors in Latin American Startups (2013-2017)

European Investors in Latin American Startups (2013-2017)

Asian Investors in Latin American Startups (2013-2017)


Participate: Impact Investing Survey

Impact Investing

LAVCA and ANDE are partnering on a Latin American impact investing survey in order to collect fundraising, investment, and exits data from the region's impact investors.

Relevant fund managers, foundations, and other investors are invited to PARTICIPATE IN THE ONLINE SURVEY.

The deadline to participate is Friday, March 23, 2018. All respondents will receive a copy of the survey findings. Information collected will be treated as confidential and will only be used to publish aggregated data.

Access LAVCA/ANDE's past impact report. For more information on LAVCA data, visit:

Please contact Natalia Valencia with any questions.


Regional Events: Colombia & Mexico

Regional Events: Colombia & Mexico

2nd LatAm LP Conference: LPs are invited to the 2nd LatAm LP Conference, hosted by ColCapital in Bogota on March, 7. For more information or to register, email Deissy Diaz.

Pacific Alliance Private Equity Summit & Women in Private Equity: Investors are also invited to ColCapital’s Pacific Alliance Private Equity Summit & Women in Private Equity in Bogota on March 8. For more information or to register, email Alejandra Mejia.

AMEXCAP 13th Private Equity Summit: Join AMEXCAP in Mexico City on March 13-15 for their annual investor event featuring venture capital, growth, real estate, infrastructure, and energy. Access the agenda and register online here.


Latest Industry News

Private Equity News
Private Equity News

Apollo Enters Agreement with Brazil’s Starboard Restructuring Partners

(Press Release) Global alternative investment manager Apollo Global Management has entered into an agreement with Starboard Restructuring Partners to pursue corporate special situation and distressed investment opportunities in Brazil. Read more

Nexxus Capital to Invest US$350m in SMEs in Mexico, Spain, & Portugal (en español)

(El Economista) Mexican private equity firm Nexxus Capital has announced its plan to invest US$350m in small and medium enterprises in Mexico, Spain, and Portugal over the next 12 to 18 months. Read more

DXA Investments Sells Stake in Brazil’s ZeeDog

(Press Release) Brazilian private equity firm DXA Investments has reached an agreement to sell its principal shareholder stake in pet accessory lifestyle brand ZeeDog to the founders of the company Felipe Diz, Thadeu Diz, and Rodrigo Monteiro. Read more

Confrapar Invests in UK-based Oxis Energy

(FinSMEs) The Aerotec Fund, a Brazilian Private Equity fund focused on Aerospace and advanced manufacturing, managed by Confrapar, has invested in UK-based maker of Lithium Sulfur cells Oxis Energy. Read more

CONSAR Seeking to Increase Afores Investment Limits for Infrastructure (en español)

(El Economista) Mexico’s National Commission of Savings Systems for Retirement (CONSAR) is seeking to increase Mexican pension fund investment limits in the infrastructure sector. Read more

Vista Oil & Gas Acquires Argentine Oil & Gas Platform from Pampa Energy & Pluspetrol

(Press Release) Vista Oil & Gas, a Mexican oil & gas company backed by private equity firm Riverstone Holdings, has acquired a fully operational oil & gas platform from Pampa Energía and Pluspetrol Resources Corporation located in the Neuquina basin in Argentina. Read more

Blackrock, Sura, & Others Provide Financing for Colombia’s 4G Project (en español)

(Portafolio) BlackRock, Sura, BBVA, ING Bank, and FDN have provided financing for the Colombian 4G highway project, Iniciativa Privada Tercer Carril Bogotá-Girardot. Read more

Vinci Partners Exits Inbrands with Sale to Nelson Alvarenga (em português)

(ISTOE Dinheiro) Brazilian alternative investment firm Vinci Partners has sold its stake in fashion and lifestyle company Inbrands to businessman Nelson Alvarenga Filho. Read more

Nexxus Completes Partial Exit from Mexico’s Maak Arca Holding

(Press Release) Mexican private equity firm Nexxus Capital has announced a partial exit from Maak Arca Holding, a consolidating platform for the acquisition and operation of businesses within the construction and decoration industries in Mexico. Read more

Venture Capital News Venture Capital News

IFC, TheVentureCity, Ventech, & Others Invest in Brazil’s RecargaPay

(Press Release) TheVentureCity, the IFC and Ventech made a US$22m investment in RecargaPay, a Brazilian mobile payments platform, with participation from FJ Labs, DN Capital, and various angel investors (through AngelList and FundersClub). Read more

DOMO Invest Makes Investment in Brazilian Startup Agenda Edu (em português)

(Baguete) DOMO Invest has made a R$3m investment in Brazilian edtech startup Agenda Edu, a platform to manage communications and engagement in school settings. Read more

DILA Capital & Jaguar Ventures Lead Investment in Ben & Frank

(Press Release) Dila Capital and Jaguar Ventures made an undisclosed investment in Ben & Frank, a high fashion direct-to-consumer brand in Mexico, with the participation from previous investors. Read more

E.Bricks Invests in Brazilian Fintech Startup F(x) (em português)

(Estadão) Brazilian venture capital firm e.Bricks Ventures will invest up to R$10m in F(x), a fintech startup that acts as a “Tinder” for enterprises seeking credit and capital investment. Read more

Fundo Aerospacial Invests in Brazilian Flight Simulation Startup Virtual Avionics (em português)

(Startupi) Fundo Aeroespacial, a fund managed by PortCapital and launched by BNDES in 2014, made an undisclosed investment in Virtual Avionics, a Campinas, Brazil-based startup creating and commercializing training cockpits for pilots. Read more

Invest Tech Acquires Preferred Shares in Brazilian Cloud Computing Consultant Sky.One (en español)

(LexLatin) Brazilian private equity and venture capital firm Invest Tech, through their Fundo Capital Tech II, has completed the acquisition of preferred shares in cloud computing consultancy Sky.One. Read more

Agfunder Invests in Brazilian Agtech Startup Solinftec

(Press Release) Agfunder made an undisclosed investment in Brazilian agtech startup Solinftec through its new co-investment vehicle. TPG previously made an undisclosed investment in Solinftec in 2017 through TPG ART. Read more

Dalus Capital Invests MXN$121m in Cloud Computing Startup Xertica (en español)

(El Economista) Dalus Capital made a MXN$121m investment in Xertica, a cloud computing startup in Silicon Valley with operations in Mexico, Colombia, Peru, Argentina, and Ecuador. Read more

IGNIA, KaszeK, monashees+, & Global Founders Capital Invest in Brazil’s Doghero

(Press Release) IGNIA, KaszeK Ventures, monashees+ and Global Founders Capital have invested in Brazilian pet-hosting startup DogHero. Read more

Glocal, NESsT, & Others Invest US$350k in Agtech Startup Auravant (en español)

(iProfesional) Argentine agtech accelerator Glocal, impact investor NESsT, and others made a US$350k investment in Auravant, a precision agtech startup. Read more

Qualcomm, MercadoLibre, Confrapar, & FJ Labs Invest in Brazil’s Ingresse (em português)

(Fusões & Aquisições) Qualcomm Ventures, MercadoLibre, Confrapar, and FJ Labs made a R$20m investment in Brazilian ticketing platform Ingresse. Previous investors include e.Bricks Ventures and DGF Investimentos. Read more

Dux Capital Invests in Mexico's Cronology (en español)

(Press Release) Dux Capital made its inaugural investment in Cronology, a cleantech Mexican startup developing paper replacement products. Read more

Alaya & MercadoLibre's MELI Fund Invest US$300k in Chile's Zoco (en español)

(Press Release) Alaya Capital Partners and MercadoLibre’s MELI Fund invested US$300k in Zoco, a Chilean ecommerce platform for small businesses selling on MercadoLibre. Read more

Real Estate News Real Estate News

Paladin Realty to Launch New Real Estate Projects in Latin America in 2018

(IREI) Institutional real estate fund manager Paladin Realty Partners plans to launch nearly a dozen residential and mixed-use development projects across Latin America in 2018. Read more

Brazil’s HSI Partners with AccorHotels & Atrio Hotéis (em português)

(Valor Econômico) Brazilian private equity firm Hemisfério Sul Investimentos (HSI) has agreed to partner with AccorHotels and Atrio Hotéis, resuming its investment activity in the hospitality sector after three years of hiatus. Read more

Be Grand Launches CKD for New Residential Housing Projects (en español)

(Expansión) Mexican housing developer Be Grand will launch a CKD vehicle on the Mexican Stock Exchange (BMV) that seeks to raise up to MXN$1.5b with the intent of funding seven to eight new residential projects. Read more

Bradesco Acquires Tishman Speyer Building in Porto Maravilha (em português)

(Valor Econômico) Bradesco Seguros has acquired the Port Corporate Tower located in Brazil’s Porto Maravilha for an undisclosed amount. The building was developed by real estate firm Tishman Speyer. Read more

Thor Urbana Raises MXN$5b Through CKD & International Investors

(Expansión) Mexican real estate investment and development company Thor Urbana, a partner company of Thor Equities, recently raised an aggregate MXN $5b through a CKD vehicle listed on the Mexican Stock Exchange (BMV) and from international institutional investors. Thor Urbana will use the capital raised to develop 5 to 8 new commercial real estate projects in Mexico. Read more

Grupo Amistad Launches CKD for Industrial Assets in Mexico (en español)

(El Economista) Mexican real estate developer Grupo Amistad has launched a CKD vehicle on the Mexican Stock Exchange (BMV) for a total of MXN$2.5b. The firm plans to deploy the capital in industrial buildings throughout Mexico. Read more

Hines to Launch R$1.5b Worth of Projects in 2018 (em português)

(Valor Econômico) Global real estate investment, development and management firm Hines plans to invest R$1.5b in Brazilian real estate projects in 2018 in partnership with Cyrela, Tecnisa, Vitacon, and Stuhlberger Construtora e Incorporadora. Read more

Why So Many Shopping Malls Are Being Built in Mexico

(WSJ) The strong demand that Mexico’s growing middle class is having for urban-located shopping centers that offer a full social experience, along with the under penetration of online shopping are some of the reasons why malls are thriving in the country. Read more

Macquarie Infrastructure & Real Assets Merges with GLL

(IPE Real Assets) Macquarie Infrastructure and Real Assets (MIRA) and GLL Real Estate Partners have agreed to merge and will together manage €10.6b worth of assets in Europe and the Americas. Read more

LAVCA & Industry Events
Add to Calendar
Foro Latinoamericano de Inversión de Impacto (FLII) 2018
Hosted by New Ventures | February 27–March 1, 2018 | Merida, Mexico
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2018 UCLA Latin American Business Conference
Hosted by UCLA | March 2, 2018 | Los Angeles, CA
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2018 Annual NYU Stern VC & PE Conference
Hosted by NYU Stern | Mach 2, 2018 | New York, NY
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Women's Private Equity Summit
Hosted by Falk Marques Group | March 7–9, 2018 | Half Moon Bay, CA
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2nd LatAm LP Conference
Hosted by ColCapital & EY | March 7, 2018 | Bogotá, Colombia
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Pacific Alliance Private Equity Summit + Women in Private Equity
Hosted by ColCapital & EY | March 8, 2018 | Bogotá, Colombia
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Stanford/NVCA Venture Capital Symposium
Hosted by Stanford & NVCA | March 13–14, 2018 | Stanford, CA
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13° Summit de Capital Privado
Hosted by AMEXCAP | March 1315, 2018 | Mexico City, MX
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Latin American PE ESG Awards Luncheon LAVCA-Icon
Hosted by PEI-UNPRI | March 20, 2018 | New York, NY
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2018 Responsible Investment Forum New York
Hosted by PEI-UNPRI | March 20–21, 2018 | New York, NY
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Wharton Latin America Conference
Hosted by Wharton | March 22–24, 2018 | Philadelphia, PA
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Finnosummit Colombia
Hosted by Finnovista | March 22, 2018 | Bogotá, Colombia
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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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VC in São PauloLAVCA-Icon
Hosted by LAVCA | May 8, 2018 | São Paulo, Brazil
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20th Annual IFC/EMPEA Global Private Equity Conference
Hosted by IFC & EMPEA | May 15-16, 2018 | Washington, D.C.
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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