Latin American Private Capital Update - June 2, 2021 Latin American Private Capital Update June 2,  
June 2, 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 Investments Acquires Vitalis Group...

Venture Capital News
Venture Capital News

Ribbit Leads USD300m Series E for QuintoAndar...

Real Asset News
Real Assets News

BTG Pactual, BCI & APG to Acquire Chilean Timberland Assets for USD385.5m...


LAVCA 2021 Latin American Private Capital ESG Deal Awards

2021 LAVCA Deal Case Awards

LAVCA has announced the winners of the 2021 Latin American Private Capital ESG Deal Awards to recognize outstanding deal cases in the region, specifically targeting environmental, social and gender diversity initiatives. 

The winners were determined by a distinguished panel of institutional investors from development finance institutions, insurance companies and pension funds.

About the 2021 Latin American Private Capital ESG Deal Award Winners:

🏆 Advent International received the 2021 Environmental Responsibility Award for their investment in Grupo Cataratas. Grupo Cataratas, the largest operator of tourist park services in Brazil, oversees a variety of ecoefficiency, recycling, resource conservation and education efforts across its properties. One such program focuses on maintaining and reintroducing biodiversity throughout Brazil’s national parks.

🏆 Lightrock received a 2021 Environmental Responsibility Honorable Mention for their investment in General Water, which uses innovative technologies to extract, treat and recycle wastewater while adhering to the highest environmental standards. The amount of recycled water out of the total quantity supplied is expected to reach 27% in 2021.

🏆 Linzor Capital received the 2021 Social Responsibility Award for their investment in the Chilean telecom provider Mundo. Among other initiatives, Mundo provides free internet for 1,600 social organizations, including schools, health centers, COVID-19 contact tracing centers, fire departments, neighborhood associations, elderly residences and indigenous communities. Mundo’s commitment underscores their philosophy that expanding internet access improves educational and professional opportunities for its recipients.

🏆 Mesoamerica received a 2021 Social Responsibility Honorable Mention for their investment in the Colombian milk company Alqueria. Over 3,000 raw milk suppliers benefit from Alqueria’s “Vaca Madrina” program, which teaches farmers how to increase milk production efficiency through sustainable farming and technological innovation.

🏆 Actis received the 2021 Gender and Diversity Award for their investment in Atlas Renewable Energy. Atlas’ Women Workforce Programme aims to improve local women’s access to employment, entrepreneurial opportunities and leadership positions across the corporate value chain. The program established an ambitious target of increasing female representation in the construction workforce to 10-15% overall.

🏆 Canary received the 2021 Venture Capital ESG Award for their investment in Alicerce Educação. Alicerce is a Brazilian education and childcare company, which serves children of low- and middle-income families to fill the gaps left by a deficient public schooling system. Students typically spend five hours per day at an Alicerce’s learning center, where each student follows a tailored plan centered around Portuguese, math, English, and socioemotional development activities.

Over 70 deal cases have been published by LAVCA since 2014. ACCESS the list here



LAVCA Week 2021 banner

📢SAVE THE DATE! LAVCA Week is scheduled for September 20-23, 2021.

The conference will engage LAVCA’s broader network of private capital investors from the US, Canada, Europe, Asia and Latin America for a highly interactive experience, including discussions on the latest trends and the outlook of the private capital industry.

Participation is open to LAVCA members, non-member private capital investors and qualified institutional investors. Activities include:

Main Stage Sessions
Invitation-Only Roundtables

STAY TUNED for additional information about the virtual format and agenda.


Latest Industry News

Private Equity News
Private Equity News

ACON Investments Acquires Vitalis Group

(Press Release) ACON Investments, through its Latin America Opportunities Fund V, alongside DEG, FMO and Proparco, has acquired Vitalis Group, a manufacturer and wholesaler of generic injectable pharmaceuticals with production facilities in Colombia and Mexico. Read more

H.I.G. Capital to Exit Brazil’s Bigsal Nutrição Animal via Sale to Nutreco

(Nutreco) H.I.G. Capital has agreed to exit Brazil-based animal nutrition company Bigsal Nutrição Animal through a sale to Nutreco for an undisclosed amount. The transaction is subject to customary closing conditions. Read more

BlackRock Invests in Grupo Axo

(Press Release) BlackRock has made an undisclosed investment in Grupo Axo, a Mexico-based multi-brand retail platform backed by General Atlantic. Read more

Advent International to Acquire Perrigo’s Pharmaceutical Operations in Mexico

(Press Release) Advent International has agreed to acquire the Latin American operations of Perrigo Company, comprising Perrigo Mexico and Perrigo Brazil. The amount of the transaction is undisclosed. Read more

Pátria Increases Stake in Qualicorp From 5% to 15% (em português)

(Brazil Journal) Pátria Investimentos has increased its state in Brazilian healthcare insurer Qualicorp from 5% to 15%. Read more

777 Partners Backs USD11.3m Acquisition of Greensill Capital’s Unit in LatAm (OmniLatAm)

(Bloomberg) Miami-based investment firm 777 Partners has backed the purchase of OmniLatAm, Greensill Capital’s unit in Latin America, for USD11.3m. OmniLatAm is 777 Partners' first private equity investment in a Latin American fintech. Read more

Kinea Investimentos Launches BRL2b Fund V (em português)

(Brazil Journal) Kinea Investimentos has announced the launch of Fund V with an initial target of BRL2b. The fund will focus on healthcare, education and technology sectors. Read more

Riverwood Capital Leads USD21m Round for Brazilian API Management Platform Sensedia

(Press Release) Riverwood Capital led a USD21m growth round for Brazil-based API management platform Sensedia. Read more

LIV Capital SPAC to Merge with Nexxus Capital-Backed AgileThought

(Press Release) LIV Capital SPAC has agreed to merge with Nexxus Capital-backed AgileThought. The transaction is subject to approval and expected to close in the third quarter of 2021. Read more

Venture Capital News Venture Capital News

Ribbit Capital Leads USD300m Series E for Brazilian Proptech QuintoAndar

(TechCrunch) Ribbit Capital led a USD300m Series E for Brazilian proptech QuintoAndar, with participation from SoftBank LatAm Innovation Fund, LTS, Maverik, Alta Park, KASZEK, Dragoneer, Kevin Efrusy (Accel) and an undisclosed US-based asset manager with USD2t in AUM, at a reported USD4b valuation. Read more

SumUp Raises BRL300m Through FIDC (em português)

(Startupi) German fintech SumUp raised BRL300m through an FIDC (Fundo de Investimento em Direitos Creditorios) to fund its short-term debt revolving facility. Read more

Endurance Investments Leads BRL210m Series C for Brazilian Identity Authentication Platform idwall (em português)

(Brazil Journal) Chilean VC fund Endurance Investments led a BRL210m Series C for idwall, a Brazilian identity authentication platform, with participation from GGV and Norte Ventures and follow-on from monashees. Read more

SoftBank Leads USD86m Series B for Ecuadorian Payments Platform Kushki

(Press Release) SoftBank Latin America and an undisclosed growth equity firm led a USD86m Series B for Ecuadorian payments platform Kushki, with follow-on from DILA Capital, KASZEK, Clocktower Ventures and Magma Partners. Read more

Union Square Ventures Leads USD65m Series B for Colombian Lending Platform ADDI (em português)

(Startupi) Union Square Ventures led a USD65m Series B for ADDI, a Colombian point-of-sale lending platform, with participation from 8VC, Citius Capital, Endeavor Catalyst, The Marathon Fund, Hans Tung (GGV) and Huey Lin (Affirm), with follow-on from Andreessen Horowitz, Foundation Capital, monashees and Quona Capital. Read more

GGV Leads USD65m Series B  for Colombian Restaurant and Retail Platform Frubana

(Press Release) GGV led a USD65m Series B for Frubana, a Colombian B2B platform of agri-products for restaurants and small retailers, with participation from Lightspeed Venture Partners, and follow-on from monashees, Tiger Global and SoftBank. Read more

Creditas Leads BRL95m Round for Brazilian Electric Motorcycle Company Voltz

(Yahoo Finance) Creditas led a BRL95m round for Voltz, a Brazilian electric motorcycle company, with participation from UVC, the CVC arm of Grupo Ultra. Read more

Mexican Fintech Belvo Raises USD43m Series A

(TechCrunch) Belvo, a Mexican fintech providing a financial services API for mobile applications, raised a USD43m Series A from Future Positive, Kibo Ventures, FJ Labs, Sebastián Mejia (Rappi) and Harsh Sinha (Transferwise), with follow-on from MAYA Capital, KASZEK, Venture Friends and David Velez (Nubank). Read more

General Catalyst, monashees and DST Global Invest USD30m in Mexican Corporate Expense Platform Clara

(TechCrunch) General Catalyst, DST Global and monashees invested USD30m in Clara, a Mexican startup offering corporate expense management and credit cards for Mexico-based startups, at a reported USD130m valuation. Read more

Grupo CCR and J2L Partners Lead BRL100m Series B for Brazilian Mobility Startup Quicko

(LABS News) Brazilian infrastructure conglomerate Grupo CCR and J2L Partners led a BRL100m Series B for Quicko, a Brazilian smart mobility startup working on commuter transit. Read more

Minerva Foods and Quartz Lead BRL120m Series B for Brazilian Delivery Platform Shopper (em português)

(Baguete) Brazilian beef exporter Minerva Foods and Quartz led a BRL120m Series B for Shopper, a Brazilian subscription delivery platform for consumer products, with participation from FJ Labs and Floating Point, and follow-on from FEGIK, multifamily office Oikos, Ariel Lambrecht (99) and Marcio Schettini (Itau Unibanco). Read more

B Capital Leads USD50m Series C for Mexican Customer Service Management Platform Yalo

(TechCrunch) B Capital led a USD50m Series C for Yalo, a Mexican customer service management platform that runs on WhatsApp and Facebook Messenger. Read more

G2VP Leads USD43m Series C for Latin America Farmer Financing Platform ProducePay

(Press Release) G2VP led a USD43m Series C for ProducePay, a US-based financing platform for farmers in Latin America, with participation from IGNIA Partners, IFC, IDB Invest, Anterra Capital, Coventure, Astanor Ventures and Finistere. Read more

Homebrew Leads BRL14m Seed Round for Brazilian Digital Bank Z1 (em português)

(Brazil Journal) Homebrew led a BRL14m seed round for Z1, a Brazilian digital bank for teenagers, with participation from Clocktower Technology Ventures, Soma Ventures, Rebel, Goodwater, Gaingels and Mantis, a VC fund formed by The Chainsmokers. Read more

Ribbit Capital Leads BRL53m Series A for Brazilian Pension Fund Management Platform Onze (em português)

(NeoFeed) Ribbit Capital led a BRL53m Series A for Onze, a Brazilian pension plan management platform. Read more

Igah Ventures Leads BRL35m Round for Brazilian Beauty Subscription Platform Lilly Estetica (em português)

(Brazil Journal) Igah Ventures led a BRL35m round for Lilly Estetica, a Brazilian beauty and dermatology clinic subscription platform at a reported BRL265m post-money valuation. Read more

Point72 Ventures Leads USD4.5m Seed Round for Colombian HRtech Ontop

(Crunchbase) Point72 Ventures led a USD4.5m seed round for Ontop, a Colombian onboarding and payroll management platform for companies with international teams, with participation from Funders Club, Clocktower Technology Ventures, H2O Capital Magma Partners, SOMA Capital and Supernode. Read more

AcNext Capital Leads BRL10m Round for B4A Brazilian Influencer Marketing Platform B4A (em português)

(Startupi) AcNext Capital, a syndicate formed by former Accenture Latin America CEO Roger Ingold, led a BRL10m round for B4A, a Brazilian marketing platform connecting beauty brands with influencers, with participation from Eduardo Chalita (, Donato Ramos (Imaginarium), Stephano Gabriel (XP) and Olivier Grinda (Shoes4You). Read more

Better Tomorrow Leads USD3.6m Seed Round for Brazilian Financing Platform Divibank

(TechCrunch) Better Tomorrow led a USD3.6m seed round for Divibank, a Brazilian revenue-based financing platform for startups and SMEs, with participation from Village Global, Clocktower Ventures, Magma Partners, Gilgamesh Ventures, Rally Cap Ventures, Alumni Ventures Group, Kairos Angels, Sebastian Mejia (Rappi), and Kari Atiyeh (Ramp), and follow-on from MAYA Capital. Read more

GAA Investments Leads BRL10m Seed Round for Brazilian Healthtech LAURA (em português)

(Startupi) GAA Investments led a BRL10m seed round for LAURA, a Braziliant patient and care management platform for healthcare facilities. Read more

Bossa Nova Investimentos and Elife Participações Invest BRL1.7m in Brazilian Healthtech Carefy (em português)

(Startupi) Bossa Nova Investimentos and Elife Participações invested BRL1.7m in Carefy, a Brazilian management platform for patient hospitalization. Read more

Real Asset News Real Assets News

BTG Pactual, BCI & APG to Acquire Chilean Timberland Assets for USD385.5m

(BCI) BTG Pactual’s Timberland Investment Group, alongside Canada’s British Columbia Investment Management Corporation and pension provider APG, has agreed to acquire Chilean timberland assets from Arauco for USD385.5m. Read more

Darby International Capital Sells Stake in Ocensa

(Press Release) Darby International Capital has sold its stake in Colombian oil pipeline Ocensa to Spain-based AI Candelaria for an undisclosed amount. Read more

Appian Capital Advisory to Sell the Caserones Copper Royalty to Nomad Royalty for USD23m

(Press Release) Appian Capital Advisory has entered into an agreement to sell the Chile-based Caserones copper royalty to Nomad Royalty for USD23m. The transaction is subject to approval. Read more

Ore Investments Invests BRL30m in Copper & Gold Project in Carajás (em português)

(Conexão Mineral) Ore Investments has invested BRL30m in copper and gold project in the province of Carajás, in Pará, Brazil. Read more

OTPP to Acquire Brazilian Electricity Transmission Platform Evoltz From TPG

(OTTP) Ontario Teachers’ Pension Plan (OTTP) has agreed to acquire a 100% interest in Brazil-based electricity transmission platform Evoltz from TPG for an undisclosed amount. Read more

Vinci Partners to Partner with Chrimata for Agribusiness Investments in Brazil

(Seeking Alpha) Vinci Partners has announced a joint venture with investment company Chrimata to target agribusiness investments in Brazil. Read more

LAVCA & Industry Events
Perú Venture Capital Conference
Hosted by PECAP | June 22-24, 2021 | Virtual

SuperReturn Emerging Markets
Hosted by SuperReturns Global Series | June 22-24, 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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