Latin American Private Capital Update - May 08, 2018 Latin American Private Capital Update May 8, 2018
May 8, 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

Actis Acquires Mexican Portfolio from InterGen...

Venture Capital News
Venture Capital News

IFC Led a US$7.1m Series B in Brazilian Parcel Logistics...

Real Estate News
Real Estate News

Amistad Global To Expand Industrial Portfolio...


Inside Latin America's Breakout Year in Tech

Tech Growth Coalition

VC Investments in Latin America surpassed US$1b for the first time in 2017, doubling the amount committed to startups in 2016.

Inside Latin America’s Breakout Year in Tech is an 8-page report with data and updates on venture and tech in the region.

The report maps the major markets and covers top deals by value, co-investments, startup ecosystem maturity, and the trending and fastest growing sectors. 

The content is made possible with support from Omidyar Network and the Latin American Tech Growth Coalition, including Google, Facebook, Telefonica Open Future_, Qualcomm Ventures, Riverwood Capital, Movile, and Globant.

A special thank you to Riverwood Capital and the supporters of last week's LatAm Tech Forum in Miami.


Complying with New Cayman Islands Anti-Money Laundering Regulations

Impact Investing

On October 2, 2017 the Cayman Islands updated its Anti-Money Laundering (AML) Regulations in response to developments in international AML standards. The new regulations apply to all Cayman investment funds.

LAVCA spoke with Trident Trust and Carey Olsen about the updated regulations, an indication of the ongoing development of anti-money laundering and terrorist financing standards seen globally, and how previously exempt funds have until September 30, 2018 to comply.

quotation-markThe changes to the AML regime are undoubtedly significant for the Cayman Islands and for market participants, but Cayman is far from being the only jurisdiction to undergo such an exercise in order to maintain conformity with international standards.


LAVCA | MIT MBA Scholarship


LAVCA is proud to announce a scholarship program for INSIDE PRIVATE EQUITY: Dealmaking in Latin America. The scholarship is targeted to current MBA students looking to expand their knowledge of private equity in Latin America.

WHO IS ELIGIBLE: Students currently enrolled in an MBA program are welcome to apply. Priority will be given to students that can demonstrate relevant work experience and/or internships in the private equity sector. 

HOW TO APPLY: To be considered for the scholarship, students must complete the dedicated scholarship application form, including:

  • Current GPA and proof of matriculation
  • Personal statement
  • Resume
  • Two references (one professional and one academic)

SELECTION PROCESS: LAVCA will select winners based on a variety of criteria, including academic performance, professional experience, and a personal statement. Scholarship winners will be informed by September 14, 2018.


Scholarship winners receive full tuition, room and board, and a certificate of completion (US$12,800 value). Airfare and transportation is not included.

The scholarship is made possible through the generosity of industry benefactors including leading private equity firms from the LAVCA Member community and board.


Latest Industry News

Private Equity News
Private Equity News

Actis Acquires Mexican Portfolio from InterGen & Establishes Saavi Energia

(Press Release) Actis acquired InterGen’s Mexican portfolio for a consolidated enterprise value of US$1.256 billion. The deal is Actis’ largest acquisition to date. The Mexico-focused platform will be rebranded as Saavi Energia. Read more

Partners Group to List CERPI on Mexico’s BMV (en español)

(El Economista) Partners Group is expected to list its first CERPI (Certificado de Proyectos de Inversión) on the Mexican Stock Exchange (BMV) by July 2018. Partners Group’s CERPI will seek to raise US$500m to make private capital investments in mid-market companies in Mexico and abroad. Read more

Vinci Partners to Raise Up to US$150m to Invest in Transmission Lines (em português)

(Valor Econômico) Brazilian alternative investments firm Vinci Partners is aiming to raise up to US$150m in new fundraising rounds to invest in transmission lines. Read more

H.I.G. Capital Agrees to Acquire Brazilian Chemicals Manufacturer Elekeiroz

(Press Release) H.I.G. Capital announced that one of its affiliates has signed a definitive agreement to acquire Brazilian chemicals manufacturer Elekeiroz from Brazilian conglomerate Itaúsa. Read more

Goldman Sachs Leads Minority Investment in Peru's AGP

(Press Release) Goldman Sachs Private Capital Investing led a minority investment in Peruvian specialty glass producer American Glass Products. Read more

Goldman Sachs Merchant Banking Division Invests in Brazil’s Grupo Oncoclínicas (em português)

(Press Release) The Merchant Banking Division of Goldman Sachs, along with Victoria Capital Partners, made an investment in Brazilian private cancer treatment group Oncoclínicas do Brasil Serviços Médicos (Grupo Oncoclínicas). Read more

IDB Invest Provides MXN$450m to Indigo 2PD Fund to Expand Mid-Sized Mexican Companies

(Press Release) IDB Invest, the private sector institution of the Inter-American Development Bank (IDB), will invest up to MXN$450m (~US$24m) with private equity firm Capital Índigo in a debt vehicle, the Indigo 2PD fund, to provide debt financing to mid-sized Mexican companies across different sectors. Read more

Graycliff Partners’ Latin America Team Spins-Off to Form Bela Vista Investimentos

(Press Release) The Latin America Group of Graycliff Partners has spun-off to form an independent private investment firm, Bela Vista Investimentos. The firm will be led by Cristiano Boccia and Guilherme Cunha. Read more

Venture Capital News Venture Capital News

IFC Leads US$7.1m Series B in Brazilian Parcel Logistics Startup Mandaê

(Press Release) IFC led a US$7.1m Series B in Brazil’s Mandaê, a parcel logistics startup. Other participants include UPS Strategic Enterprise Fund, Mercado Libre Fund, Tekton Ventures, FJ Labs, and existing investors Performa Investimentos, Qualcomm Ventures, Monashees, and Icon Holding Company. Read more

Redpoint eventures to Raise US$130m Venture Capital Fund

(PE Hub) Redpoint eventures is targeting up to US$130m in capital commitments for RPeV 2, its second Brazil-focused venture-capital fund, according to an SEC filing. Read more

Scale Capital Leads US$2m Round in Chilean IoT Startup Fracttal

(Pulso Social) Scale Capital made a US$2m investment in Fracttal, an IoT asset management platform. Fracttal has offices in Chile, Brazil, and Colombia with plans to expand to Mexico. Read more

Alaya Capital Partners Makes Undisclosed Investment in Chilean Startup Rocketpin (en español)

(Press Release) Alaya Capital Partners made an undisclosed investment in Rocketpin, a Chilean startup that provides point-of-sale auditing software. Rocketpin will use the funds to expand to Argentina. Read more

monashees+, Quona Capital & Propel Venture Partners Lead US$22m Series A in Brazilian Fintech Neon

(Press Release) monashees+, Quona Capital, and Propel Venture Partners led a US$22m Series A in Brazilian fintech Neon Pagamentos, with participation from Omidyar Network, Tera, and Yellow Ventures. Read more

Xpand Ventures Invests US$200k in Argentinean Agtech Startup Kilmo

(Press Release) Xpand Ventures, Diario Clarín’s corporate accelerator, invested US$200k in Argentinean startup Kilimo, a big data startup for crops irrigation management. Read more

Guatemala's Invariantes Closes First Fund With US$3.5m in Commitments

(Press Release) Guatemala's Invariantes closes first fund with US$3.5m in commitments from a mix of high-net worth individuals and family offices in Central America and Mexico. Read more

HCS Capital Partners Leads US$2m Round in Chilean IoT Startup We-Techs (en español)

(Press Release) HCS Capital Partners led a US$2m investment in We-Techs, a Chilean IoT monitoring platform for natural gas, water treatment, and other industries. We-Techs was accelerated at Wayra Chile. Read more

FCP Innovación SP Leads a US$2.6m Investment in Chilean Waste Management B Corp TriCiclos (en español)

(Economía y Negocios) ) FCP Innovación SP, the corporate venture fund of Colombian utility EPM, led a US$2.6m investment in TriCiclos, a Chilean recycling and sustainability B Corp, with participation from FIS_Ameris, Australian fund Small Giants, and William McDonough. MOV Investimentos invested previously. Read more

HCS Capital Partners Invests US$1m in Chilean Regulatory Tech Startup Ceptinel

(Press Release) HCS Capital Partners completed a US$1m investment Ceptinel, a Chilean fintech startup which specializes in regulatory technology. Read more

Fundo Aerotec and Criatec II Make Undisclosed Investment in Brazilian Aerospace Startup ALTAVE (em português)

(Press Release) Fundo Aerotec (managed by Confrapar) and Criatec II made an undisclosed investment in ALTAVE, a Brazilian aerospace startup designing cost-effective air vehicles to monitor ground conditions for a variety of industries, including oil and gas, agrobusiness and mining. Read more

Real Estate News Real Estate News

Amistad Global to Expand Industrial Portfolio (en español)

(El Economista) Mexican real estate developer Amistad Global Development, through its recently listed MXN2.5bn CKD vehicle, will acquire industrial properties in Hidalgo, Jalisco, Apodaca, and Nuevo León. The firm plans to add 1 million square meters to its current portfolio of rental properties over the next six years. Read more

MIRA Acquires Land in Querétaro for Mixed-Use Project (en español)

(Obras) Investment and real estate platform MIRA has acquired land for a new mixed-use real estate project in Querétaro, Mexico. The transaction was funded through the Certificado de Proyectos de Inversión (Cerpi) MIRA listed on Mexico’s Stock Exchange (BMV) in September 2016. Read more

Brookfield to Sell Majority Stake in Raposo Shopping (em português)

(DCI) Brazil’s antitrust authority CADE has approved Brookfield’s sale of a majority stake in São-Paulo-based Raposo Shopping to Jorge’s Imóveis e Administração, Grupo Rezek, Eacas Participações, and businessman Michel Michaluá Filho. Read more

Odebrecht Reaches Preliminary Agreement to Sell São Paulo Towers to HSI

(Nasdaq) Brazilian conglomerate Odebrecht has reached a preliminary agreement to sell the construction rights for three towers in São Paulo’s Parque da Cidade to private equity firm Hemisferio Sul Investimentos SA (HSI). Read more

LAVCA & Industry Events
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Workshop for Emerging VCs in ArgentinaLAVCA-Icon
Hosted by LAVCA | May 16, 2018 | Buenos Aires, Argentina
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Workshop for Emerging VCs in ChileLAVCA-Icon
Hosted by LAVCA | May 17, 2018 | Santiago, Chile
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20th Annual IFC/EMPEA Global Private Equity Conference
Hosted by IFC & EMPEA | May 15-16, 2018 | Washington, D.C.
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2018 ABVCAP Conference
Hosted by ABVCAP | June 4-5, 2018 | São Paulo, Brazil
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Mexico PE Day
Hosted by AMEXCAP | June 6-7, 2018 | New York, NY
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Proptech Latin American Summit
Hosted by Marketing in Real Estate | June 7, 2018 | Santiago de Chile, Chile
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SuperReturn Emerging Markets
Hosted by KNect365 | June 27 - 29, 2018 | Amsterdam, Netherlands
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GIIN Investor Forum
Hosted by GIIN & PEI | October 30-31, 2018 | Paris, France
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Inside Private Equity: Dealmaking in Latin AmericaLAVCA-Icon
Hosted by LAVCA & MIT | November 12-15, 2018 | Miami, Florida
LAVCA Week events (Sept. 24 - 27)
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Family Office Program & DinnerLAVCA-Icon
Hosted by LAVCA | September 24, 2018 | New York, NY
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Summit & Investor RoundtableLAVCA-Icon
Hosted by LAVCA | September 24-26, 2018 | New York, NY
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Venture Investors Annual MeetingLAVCA-Icon
Hosted by LAVCA | September 27, 2018 | New York, NY
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ILPA Institute WorkshopLAVCA-Icon
Hosted by LAVCA & ILPA | September 27, 2018 | New York, NY
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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