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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, newly renamed the Association for Private Capital Investment in Latin America, announced the appointment of four new directors to the Board:
- Fernando Borges, Managing Director of The Carlyle Group
- Michael Harrington, Partner at Actis
- Jose Sosa de Valle, Partner at Lexington Partners
- Nicolas Szekasy, Co-Founder & Managing Partner, KaszeK Ventures
Directors completing terms in September 2018 are Francisco Alvarez-Demalde, Founder & Managing Partner at Riverwood Capital, Scott Voss, Managing Director of HarbourVest Partners, Martín E. Díaz Plata, Managing Partner of Capital Group Private Markets, and Hernan Kazah, Co-Founder & Partner of KaszeK Ventures.
Meet the full LAVCA board here.
 ...We are delighted to welcome such high caliber investors to our Board. Today, the mix of global investors with an active presence on the ground in Latin America includes sector and strategy specialists which are a reflection of the growing maturity of the market. - Cate Ambrose, President, LAVCA
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The 2018 LAVCA/Cambridge Limited Partners Opinion Survey on Latin American private capital is now available for download.
Findings were presented during LAVCA Week 2018 by Carolyn Keating, Senior Director for Cambridge Associates, and Ksenija Jovanovic, LAVCA Senior Advisor and Vice President, External Management for Aflac Global Investments, in New York on September 26th.
Highlighted findings include:
- Over half of LPs plan to increase target allocations to private equity.
- Latin America is seen as preferred destination for emerging markets private equity.
- Agriculture/agribusiness rises as new top sector for Latin American private equity.
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LAVCA Week saw record registration in 2018 including over 500 individuals for the LAVCA Summit & Investor Roundtable, the Real Estate Program, the Venture Investors Annual Meeting, Family Office Programming, and an ILPA Institute Training in New York last week.
We would like to thank our members, the speakers, and our partners for their continued support and participation. Special thanks to LAVCA Week sponsors:
KPMG, Advent International, IDB Invest, Lexington Partners, The Carlyle Group, Actis, CAF, AMEXCAP/Fondo de Fondos, ABVCAP, Brown Rudnick/ARCAP, Stanwich Advisors, Venable, LarrainVial, Omidyar Network, Silicon Valley Bank, FOMIN, Facebook, Google, Telefonica/Wayra, Riverwood Capital, and ILPA.
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LAVCA is conducting the first-ever survey of Latin American startups, the results of which will be shared globally to help put Latin American tech innovation on the map.
We want to tell the world how many jobs startups in the region are creating, diversity among startup founders, challenges for startup growth, and the impact startups are making in their market, sector, and community.
All qualifying applicants will receive:
PARTICIPATE IN THE SURVEY
This survey is multiple choice and should take a startup CEO or founder no more than 12-15 minutes to complete. If you have any questions, please contact jruvolo@lavca.org or malgarin@lavca.org.
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Private Equity News
General Atlantic’s Brazilian Learning Systems Provider Arco Educação IPOs on NASDAQ (em português)
(Valor Econômico) Brazilian learning systems provider Arco Educação, a company backed by General Atlantic, IPO’ed on the Nasdaq. This transaction did not represent an exit for GA. Read more
Great Hill Partners Exits Ascenty at a US$1.8b Valuation
(Press Release) Great Hill Partners entered into a definitive agreement to sell its controlling interest in Ascenty, the largest provider of data center and fiber infrastructure services in Brazil, to Digital Realty. The transaction values the company at over US$1.8b. Read more
Carlyle Sells Stake in Tempo Assist to Swiss Re Group (em português)
(Fusões & Aquisições) Brazil’s antitrust authority CADE authorized the acquisition of USS Soluções Gerenciadas ("Tempo Assist") by Swiss Re Direct Investments Company. Read more
CDPQ and CKD Infraestructura México Invest US$1.4b in Renewables from Enel
(Press Release) CDPQ and CKD Infraestructura México invested US$1.4b for a majority stake in 1.8 GW of renewables in Mexico from Enel. Read more
México Infrastructure Partners América Latina Raised MXN$6b CERPI on Mexico's BMV (en español)
(El Economista) México Infrastructure Partners América Latina raised MXN$6b for its debut CERPI on Mexico’s BMV. The vehicle will invest in energy and infrastructure projects in Mexico, Peru, Colombia, and Chile. Read more
Clara Capital Acquires Argentinean Medicinal Packaging Manufacturer Barrier Solution (en español)
(BAE Negocios) Clara Capital acquired Argentinean medicinal packaging manufacturer Barrier Solution. The company has a plant of 3,000 square meters in the town of San Fernando, from where it supplies the pharmaceutical industry in Argentina and other countries in the region, with customers such as Bayer, GSK, Astra Zeneca, Pfizer, Savant, Gador, and Elea Phoenix, among others. Previously, Clara had acquired Berkes. Read more
Stratus Submits CADE Proposal to Acquire 65% of Farma Participações (em português)
(Fusões & Aquisições) Brazilian fund Stratus submitted a proposal to CADE to purchase an indirect 65% interest of Farma Participações, through the acquisition of the same interest in Holding Investfarma, a company set up for the implementation of the transaction. Read more
General Atlantic’s Grupo Axo Acquires Mexican Sport and Footwear Retailer Tennix (en español)
(Lex Latin) General Atlantic Portfolio Company Grupo Axo reached an agreement with Aloxom Marketing to acquire 100% of it retail stores operated by Tennix, a franchise company that represents the brands TAF (The Athlete’s Foot) and TrueKids in the Mexican market. The amount was not disclosed. Read more
IDK Capital Closes First Round with MXN$1.05b (en español)
(Press Release) IDK Capital, a Mexican investment fund specialized in small and medium infrastructure projects led by Dynfra and Kue Capital, announced that it carried out a first closing of MXN$1,05b from private investors. Read more
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 Venture Capital News
Quona Capital, monashees, & Chromo Invest Make R$20m Investment in BizCapital (em português)
(Valor Econômico) Quona Capital, monashees, and Chromo Invest made a R$20m investment in Brazilian lending fintech BizCapital. Read more
IGNIA Leads Undisclosed Investment in Mexican EdTech Kinedu
(Press Release) IGNIA led an undisclosed investment in Kinedu, a Mexican edtech platform for early childhood development,with participation from BeCurious Partners, The Stanford-StartX Fund, and existing investors DILA Capital, Promotora Social México and Stella Maris. Read more
DILA Capital Leads Undisclosed Series A Investment in Micro-Investing Platform Dvdendo
(Press Release) DILA Capital led an undisclosed Series A investment in Dvdendo, a Miami-based micro-investing platform, with participation from Ideas y Capital and others. Read more
Canary VC Makes Undisclosed Investment in Brazilian Startup EasyDeco (en español)
(Lex Latin) Canary made an undisclosed investment in EasyDeco, a Brazilian interior design platform. Read more
Adobe Capital Invests in Solar Energy Company HEG via Adobe Mezzanine Fund II (en español)
(AMEXCAP) Adobe Capital and ST Capital made an undisclosed investment in Mexican clean energy company HEG. Read more
Astella Investimentos Leads R$25m Investment Round in Omie (em português)
(Baguete) Astella Investimentos led a R$25m investment in Omie, an ERP platform targeting small businesses. Read more
Scotiabank Makes Undisclosed Investment in Colombian Consumer Lending Platform Zinobe (en español)
(Dinero) Scotiabank made an undisclosed investment in Zinobe, a Colombian consumer lending platform, through a joint investment fund with QED Investors. Read more
Mexican Startup Agave Lab Will Raise Second VC Fund with US$20-40m Target (en español)
(El Economista) Mexican startup incubator Agave Lab announced plans to raise a second VC fund with a US$20-40m target. Read more
Cedro Capital Invests R$6m in Risk Management Platform Gira (em português)
(DataMark) Cedro Capital invested R$6m in Gira, a risk management platform for agribusiness receivables, through the Venture Brazil Central fund. Read more
Domo Invest Leads R$4m Investment in Brazilian Car-Sharing Platform Turbi (em português)
(Press Release) Domo Invest led a R$4m investment in Turbi, a Brazilian car-sharing platform. Read more
Domo Invest Makes R$3m Investment in Brazilian Self-Service Restaurant Ordering Platform Goomer (em português)
(Press Release) DOMO Invest made a R$3m investment in Goomer, a Brazilian self-service ordering platform for restaurants. Read more
Magma Partners Makes Undisclosed Investment in Football Live-Streaming Platform Fanatiz
(LatAm List) Magma Partners made an undisclosed investment in Fanatiz, a football live streaming platform. Read more
Global Founders Capital Acquires 10% of Brazilian CaaS Platform Zen Finance
(Lex Latin) Global Founders Capital invested R$1,385,000 (approximately US$344,727 as of October 2) to acquire 10% of the Brazilian fintech specialized in financial services of Credit as a Service Zen Finance. Read more
Orbis Ventures Leads US$440k Investment in Real Estate Platform Ultracasas
(Lex Latin) Orbis Ventures led a US$440k investment in Ultracasas, a Bolivian real estate platform, with participation from Seedstars and Taris. Read more
Primatec Invests R$5m in Facial Recognition Startup FullFace (em português)
(DCI) Primatec invested R$5m in FullFace, a Brazilian facial recognition startup working with corporate clients. Read more
Creation Investments Capital Management Makes MXN$250m Investment in Fintech Pluscorp (en español)
(Lex Latin) Creation Investments Capital Management made a MX$250m investment in Pluscorp, a Mexican financial services company. Read more
Chilean VC Genesis Ventures Plans to Raise a New US$100m VC Fund
(La Tercera) Chilean VC Genesis Ventures announced plans to raise a new US$100m VC fund. Read more
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 Real Estate News
GP Investments Sells Brazil Hospitality Group to GTIS Partners for R$150m (em português)
(Obras) GP Investments has announced the sale of its stake in the Brazil Hospitality Group to GTIS Partners, a US investment company. GP will receive approximately R$150m for 27.4% of the shares for the transaction, which was based on an enterprise value of BHG of approximately R$900m. Read more
Fortem Capital Raises MXN$5b via BIVA (en español)
(El Economista) Fortem Capital, a subsidiary of the IPB Group real estate company, seeks to raise MXN$5b via BIVA. Fortem Capital now joins a group of companies, including LIV Capital, Ignia, and Crédito Real, which decided to list on BIVA. Read more
Jaguar Growth Partners Appoints Mario De Barros as Principal
(Press Release) Jaguar Growth Partner announced the appointment of Mario De Barros as Principal – Head of Brazil on the firm’s investment team. Read more
Be Grand Raises MXN$4b CKD via BMV (en español)
(Obras) Be Grand, developer of residential housing, lists a MXN$4b CKD and debt for MXN$1.5b on the Mexican Stock Exchange. The developer will use the capital to develop more than five projects in Mexico City and its metropolitan area. Read more
Beyond Capital Announced a New Residential Development in Tulum (en español)
(Obras) Mexican private equity fund Beyond Capital announced its new real estate concept, Bloom Residential Tulum, which consists of 95 apartments and more than 40 amenities. The project will begin construction later this year. Read more
SíRenta Will Develop 4,000 Apartments in Bosque Real (en español)
(Press Release) SíRenta will develop 4,000 apartments in its Bosque Real complex in Huixquilucan, State of Mexico. Its objective is to invest MXN$20b it plans to raise over the next 10 years. Last year, the company listed its first CKD on the BMV for MXN$million pesos. Read more
Choice Hotels Expands Mexico Operations in Multi-Unit Agreement with SI Operaciones
(Press Release) Choice Hotels Mexico has signed an exclusive multi-unit agreement with SI Operaciones, a Mexican Private Equity fund, to develop 20 new-construction Sleep Inn hotels over the next five years. The agreement is expected to add 2,000 rooms in top markets, like Mexico City, and Guadalajara. Read more
GTIS Partners is GRESB Top Sustainable Private Equity Real Estate Investment Fund
(Business Wire) GITS Brazil Real Estate Fund has been awarded the top ranking most sustainable private equity real estate fund in South America in 2018 by Global Real Estate Sustainability Benchmark (GRESB). GTIS Brazil Real Estate Funds II and III won second and third place, respectively. Read more
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FINNOSUMMIT Miami
Hosted by Finnovista | October 4 - 5, 2018 | Miami, Florida
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LATAM Investment Summit
Hosted by i11 and Group SG | October 19, 2018 | Miami, Florida
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Sustainable Investing Emerging Markets Summit
Hosted by EMPEA | October 23, 2018 | London, UK
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Latin American Ventures Summit
Hosted by Corporación Ventures | October 30-31, 2018 | Cartagena, Colombia
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GIIN Investor Forum
Hosted by GIIN & PEI | October 30-31, 2018 | Paris, France
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Foro Argentino de Inversiones 2018
Hosted by ARCAP | November 1, 2018 | Buenos Aires, Argentina
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WeXchange
Hosted by FOMIN | November 6-7, 2018 | Lima,Peru
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FLII Central America and the Caribbean
Hosted by Alterna & New Ventures | November 7-8, 2018 | Antigua,Guatemala
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PERE America
Hosted by PERE | November 7-8, 2018 | New York, NY
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Women's Alternative Investment Summit
Hosted by Falk Marques | November 8-9, 2018 | New York,NY
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Inside Private Equity: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 12-15, 2018 | Miami, Florida
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5th International Investment Forum Chile 2019
Hosted by InvestChile | January 15-17, 2019 | Santiago, Chile
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PERE Investor Forum: Los Angeles
Hosted by PERE | April 17-18, 2019 | Los Angeles, CA
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell. |
Latin American Private Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018
Contact Us
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