Latin American Private Capital Update - July 13, 2021 Latin American Private Capital Update July 13, 2021
July 13, 2021
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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

ACON Exits Conexão via Sale to Grain Management...

Venture Capital News
Venture Capital News

Spacetech Satellogic Goes Public via SPAC Merger...

Real Asset News
Real Assets News

KKR Acquires Telefonica Chile at USD1b Valuation...



LAVCA Panelist

LAVCA continues to engage with key industry partners to share private capital investment insights and support the industry in Latin America.

LAVCA in the LatAm region:
📈 Ivonne Cuello, CEO, moderated a panel on the private capital industry in Latin America and discussed the region's investment trends and resilience during COVID-19 alongside LAVCA member firms L Catterton, Australis Partners and NAZCA at the 22nd annual Global Private Equity Conference hosted by IFC and GPCA (formerly EMPEA).

🇨🇱 LAVCA in Chile:
Susana Garcia Robles, Senior Advisor, joined the Chilean Association of Investment Fund Administrators (ACAFI) for a panel on venture capital on private equity in Latin America and its role in Chile's development.

🚀 LAVCA and Technology:
Miguel Algarin, Research Director, moderated a panel discussion on digital transformation and technology investment trends in Latin America with LAVCA members General Atlantic, IFC and Valor Capital Group at SuperReturn Emerging Markets 2021.

🇨🇴 LAVCA in Colombia:
Carlos Ramos de la Vega, Venture Capital Manager, participated in a discussion about fintech in Colombia and LatAm and shared insights with LAVCA members iNNpulsa Colombia and Colombia Fintech, who organized the event.

🇵🇪 LAVCA in Peru:
Emanuel Hernandez, Research Analyst, joined a fireside chat on venture capital in Peru and shared 2021 industry data and trends at PECAP's Peru Venture Capital Conference 2021.

SAVE THE DATE for LAVCA Week 2021, our annual investors meeting, from September 20-23, 2021. Stay tuned for early bird registration in the coming weeks! 


EMPEA Rebrands as the Global Private Capital Association (GPCA) 


EMPEA, the global industry association for private capital investment in Asia, Latin America, Africa, Central & Eastern Europe (CEE) and the Middle East, has rebranded to become the Global Private Capital Association (GPCA).

LAVCA is thrilled to be part of the GPCA network and will continue to operate as a parallel membership organization with its own dedicated team and board.

Visit to get familiar with the new format and for an update on upcoming programs, publications and initiatives.


Latest Industry News

Private Equity News
Private Equity News

ACON Exits Brazil’s Conexão via Sale to Grain Management

(Press Release) ACON Investments, through its Latin America Opportunities Fund IV, completed the sale of Brazil-based high speed internet service provider Conexão Group to Grain Management. Terms of the transaction were not disclosed. Read more

Lightrock Reaches USD900m Final Close for Global Growth Fund

(Press Release) Lightrock reached a USD900m final close for its Lightrock Growth Fund I. The vehicle will invest growth capital (predominantly at Series B or C) in Europe, Latin America and India. Read more

Dasa Acquires H.I.G. Capital-Backed Clínica AMO for BRL750m

(Press Release) Ímpar Serviços Hospitalares (DASA) acquired H.I.G. Capital-backed Clínica AMO, a group of oncology clinics in Brazil, for BRL750m (~USD148.5m). The transaction is subject to customary closing conditions. H.I.G. Capital previously invested in 2018. Read more

Crescera Invests BRL200m in Brazil’s Grupo Zelo (em português)

(Valor Econômico) Crescera Capital invested BRL200m (~USD38.5m) in Brazil-based funeral services provider Grupo Zelo. Crescera originally invested BRL305m (approximately USD55.5m) in August 2020. Read more

Ambipar Acquires Australis-Backed Disal for~BRL800m (en español)

(SWI Brazilian Ambipar acquired Australis Partners-backed Disal Ambiental Holding, a Chilean environmental services company, for ~BRL800m (~USD163m). Australis acquired 67% of Disal in 2017. Read more

Axxon Invests BRL300m to Acquire a Controlling Stake in Alibra (em português)

(2A+ Alimentos) Axxon agreed to invest up to BRL300m (~USD58m) to acquire a controlling stake in Brazilian food production company Alibra Ingredientes. Read more

Darby International Exits Ecuador’s Tabacarcen Via Sale to Group Omnivest

(Press Release) Darby International exited Ecuador-based logistics company Tabacarcen via a sale to Group Omninvest. Transaction details were not disclosed. Read more

BTG Pactual Acquires a Majority Stake in CDF for BRL350m (em português)

Brazil Journal) BTG Pactual acquired a majority state in CDF, a company that offers technical support and installation services, for BRL350m (~USD67m). Read more

MXO Management Acquires 1% Stake in Grupo Axo

(Latin Finance) PE firm MXO Management acquired a 1% stake in Grupo Axo, a Mexico-based multi-brand retail platform backed by General Atlantic, for an undisclosed amount. BlackRock invested in May 2021. Read more

IDB Invest Provides a USD14m Loan to Costa Rica’s Calox

(IDB Invest) IDB Invest provided a USD14m loan to Costa Rica’s pharmaceutical company Calox. The project's objectives are the acquisition of the company’s current manufacturing plant to make improvements in infrastructure and energy efficiency and the provision of medium-term financing for working capital. Read more

Venture Capital News Venture Capital News

Argentine Spacetech Satellogic Goes Public Via SPAC Merger

(TechCrunch) Argentine earth observation startup Satellogic merged with CF Acquisition Corp. V, a SPAC formed by Cantor Fitzgerald, to go public at a reported USD850m valuation. The deal includes a USD100m PIPE investment from SoftBank and Cantor Fitzgerald. Read more

SoftBank Invests USD200m in Brazilian Bitcoin Exchange Mercado Bitcoin (en español)

(Press Release) SoftBank invested USD200m in Brazilian bitcoin exchange Mercado Bitcoin, at a reported USD2.1b valuation. Read more

Movile Invests ~USD34m in Brazilian Fintech Platform Zoop (em português)

(Istoe Dinheiro) Movile invested ~USD34m in Zoop, a Brazilian white label fintech platform for startups and SMEs. Read more

Tiger Global Leads USD22m Series B for Brazilian Corporate Benefits Platform Flash (em português)

(Startupi) Tiger Global led a USD22m Series B for Flash, a Brazilian on-demand corporate benefits provider for executives, with participation from Citius and Kauffman Fellows and follow-on from monashees and GFC. monashees invested in 2019. Read more

Mouro Capital Leads USD16m Series A for Mexican Freight Platform Nowports

(Press Release) Mouro Capital led a USD16m Series A for Nowports, a Mexican automated freight platform, with participation from Foundation Capital, InvestoVC and angel investors Ricardo Weder (Jüsto), Carlos Salinas (Luuna) and Justin Mateen (Tinder) and follow-on from monashees, Base10 Partners, Broadhaven Ventures and Y Combinator. Read more

Luxor Capital Leads USD14.3m Seed Round for Colombian Sales Platform Treinta (en español)

(Forbes) NY-based hedge fund Luxor Capital led a USD14.3m seed round for Treinta, a Colombia-based sales and inventory management platform for SMEs, with participation from Goodwater Capital, Y Combinator, First Check Ventures, Outbound Ventures, Soma Capital, FJ Labs, Commerce VC, Rhombuz VC, Acacia Venture Capital, TwentyTwo Ventures, and angel investors Varsha Rao (Nurx) and Raffael Johnen (Auxmoney). Read more

monashees Leads USD10m Series A for Brazilian Proptech Yuca (em português)

(Brazil Journal) monashees led a USD10m Series A for Yuca, a Brazilian residential rentals platform, with participation from Foundation Capital and Tishman Speyer, and follow-on from ONEVC. Read more

DILA Capital Leads USD9m Round for Mexican Orthodontics Startup Moons

(Press Release) DILA Capital led a USD9m round for Moons, a Mexican orthodontics startup. Moons raised USD5m from Jaguar Ventures, Foundation Capital, Tuesday Capital and others in 2020. Read more

monashees Leads ~USD8m Round for Beauty Salon Platform Gal (em português)

(Exame) monashees led a ~USD8m round for Gal, a Brazilian finance, marketing and recruiting platform for beauty salons, with participation from Canary and angel investors Jose Gallo (Renner) and Renato Freitas (99). Read more

ALLVP Leads USD7.2m Series A for Mexican Insurtech

(TechCrunch) ALLVP led a USD7.2m Series A for, a Mexican insurtech providing COVID-19, life, and earthquake insurance, with participation from Goodwater Capital, Kairos Angels and Bridge Partners and angel investors Joe Schmidt IV (Accel) and Kyle Nakatsuji (Clearcover). Read more

Nexodata Raises ~USD7m Round from MELI Fund, Floating Point, FIR Capital and Others (em português)

(Brazil Journal) Nexodata, a Brazilian drug prescription and clinical exam scheduling platform, raised a ~USD7m round from Mercado Libre’s MELI Fund, Floating Point, FIR Capital, Albert Einstein Hospital, and the family office of Guilherme Benchimol. Read more

Cadonau Investimentos and Astella Investimentos Lead ~USD6m Series A for Brazilian Proptech Livance (em português)

(Startupi) Cadonau Investimentos and Astella Investimentos led a ~USD6m Series A for Livance, a Brazilian on-demand office space provider for health professionals, with participation from Terracotta Ventures, Green Rock and Mago Capital. Read more

Valor Capital, Canary and Wayra Invest USD5m in Brazilian Edtech Alicerce Educação (em português)

(Startupi) Alicerce Educação, a Brazilian network of education centers which provide afterschool educational programs to children of low- and middle-income families, to supplement students in the public school system living in city peripheries, raised a USD5m seed extension from Valor Capital Group, Canary and Wayra.  Read more

Y Combinator Leads USD2.5m Round for Brazilian Fintech Conta Simples (em português)

(NeoFeed) Y Combinator led a USD2.5m round for Conta Simples, a Brazilian finance management platform enabling SMEs to issue corporate cards to manage supplier payments. Read more

Turim Leads ~USD2.4m Round for Brazilian Retail Investment Platform Guru (em português)

(Startupi) Multi-family office Turim led a ~USD2.4m round for Guru, a Brazilian retail investment platform, with participation from Discovery Ventures, SumUp, Norte Ventures and angels from iFood and Gympass. Read more

Inovabra Ventures Invests ~USD2m in Brazilian Intelligence Platform Developer Developer 4intelligence (em português)

(Brazil Journal) Bradesco’s Inovabra Ventures invested ~USD2m in 4intelligence, a Brazilian analytics platform enabling corporates to develop predictive models to map consumer demand, as part of a USD5m seed round expected to close in September. Read more

Brazilian Fintech Cora Raises ~USD1.8m from Employees (em português)

(Startupi) Cora, a Brazilian lending platform for SMEs, raised ~USD1.8m from its employees at the same terms offered to Ribbit Capital, KASZEK, Greenoaks and QED Investors when they participated in the USD26.7m round in April. Read more

Parceiro Ventures Leads ~USD1.7m Round for Brazilian Corporate Travel Platform Paytrack (em português)

(Baguete) Parceiro Ventures led a ~USD1.7m round for Paytrack, a Brazilian invoice and corporate travel management platform. Read more

Brazilian Recruiting Platform Rocketmat Raises ~USD1.6m (em português)

(Exame) Rocketmat, a US- and Brazil-based recruiting and employee retention platform for large companies and institutions, raised a ~USD1.6m round from DOMO Invest, Alexia Ventures and Sound Money Ventures. Read more

Canary Leads USD1.4m Round for Brazilian Subscription Management Platform Lastlink (em português)

(Startupi) Canary led a USD1.4m round for Lastlink, a Brazilian community and subscription management platform for content creators, with participation from Graph Ventures and angel investors Israel Salmen (Meliuz), Marcela Rezende (MadeiraMadeira) and Gustavo Caetano (SambaTech). Read more

Real Asset News Real Assets News

KKR Acquires Telefonica Chile at USD1b Valuation (en español)

(Press release) KKR acquired a majority stake in the fiber-optic network of Telefonica Chile in a transaction valued at USD1b. Read more

BTG Pactual Exits Duna Energia Via Sale to 3R Petroleum for USD71m (em português)

(Istoé Dinheiro) BTG Pactual exited Duna Energia via a sale to Brazilian oil and gas company 3R Petroleum, for USD71m. Read more

Susten Energia and BFL Administradora to Raise BRL50m for Solar Projects (em português)

(Canal Energia) Susten Energia and BFL Administradora announced that they have teamed up to create a Participation Investment Fund (FIP) to raise BRL50m for clean energy and solar projects at its photovoltaic generation plants in Minas Gerais, Brazil. Read more

Ruta al Sur Is Granted to Patria’s Rodovias Colombia (en español)

(Press Release) The Ruta al Sur Concession (Santana-Mocoa-Neiva) was formally granted to Patria Investments' Rodovias Colombia (70%) and MC Victorias Tempranas (30%). Read more

LAVCA & Industry Events
Cultivating LP Relationships in the Pandemic Era
Hosted by LAVCA & GPCA (formerly EMPEA) | July 14, 2021 | Virtual

Hosted by LAVCA | September 20-23, 2021 | Virtual 

LAVCA Members receive a discount on select events. For information, 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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