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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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Earlier this month investors and business executives participated in the LAVCA | MIT Inside Private Equity: Dealmaking in Latin America program in Miami.
Vice Presidents, Principals, and Directors from private equity firms, family office and institutional investors, and business professionals from North America, Europe, and Latin America participated in sessions facilitated by 12 leading private capital investors. Content included original cases on private equity and family office investment transactions and deep dives into deal successes and failures.
Congratulations to those individuals that received completed the course, including from Altra Investments, Ashmore Colombia, Austral Gold, BID Invest, DEG, Development Bank of Jamaica, Fondo de Fondos, Global Emerging Markets, Greenstone Asesores, Grupo Conroy, Grupo Fortaleza, IFC, and others.
This year LAVCA also awarded two MBA scholarships to Tomas Garcia Escudero and Mauricio Carvajal of Stanford, made possible with the generosity of LAVCA's Chairman Carlos Garcia and the Partners of Victoria Capital Partners.
Pre-apply for the 2019 program here.
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It It is with great sadness that we acknowledge the passing of two long-standing LAVCA members, both of whom played a pioneering role in the Latin American PE/VC industry. This year, the industry lost Francisco Mira and Chris Meyn.
Francisco Mira was CEO of Promotora since 2002, and was by all accounts the first venture capital fund manager in Colombia. He led multiple successful investments and exits for the VC fund and was also involved in the PE/growth fund managed by Promotora.
Chris Meyn was at the forefront of private equity investing in Brazil since the late 1990s, most notably as a private equity team leader at Gávea investimentos. He was also an active angel investor in tech startups and advisor to early stage fund managers.
LAVCA’s board and staff deeply regret the loss of these two outstanding individuals and wish to acknowledge their contributions to the development of private capital in Latin America.
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Private Equity News
CDPQ and FDN Invest US$1b in Colombia Infrastructure
(Press Release) Colombian President Iván Duque announced an agreement was reached with Caisse de dépôt et placement du Québec (CDPQ) through the National Development Bank (FDN) for more than US$1b for infrastructure works. Read more
Stepstone Group Opens Office in Peru
(Press Release) Stepstone Group expands presence in Latin America by opening an office in Lima, its second office in the region. Shannon Bolton, Managing Director, will run Steptstone’s new office and will lead the firm’s business development activities in the Andean Region. Read more
CADE Approves CPPIB & Votorantim’s 40.6 % Acquisition of Companhia Energetica de São Paulo
(Renewables Now) Brazil’s antitrust authority CADE has approved without restrictions the planned acquisition of a 40.6% stake in Companhia Energetica de Sao Paulo by Votorantim Energia and Canada Pension Plan Investment Board (CPPIB). The transaction is valued at more than R$3b. Read more
Fosun Acquires R$288M in Brazilian Brokerage Firm Guide Investimentos (em português)
(DCI) Fosun has acquired 69.14% stake in Brazilian Brokerage Firm Guide Investimentos for a sum of R$287.9m. Read more
MAS Equity Partners Invests in Clinical Laboratories Europa América Laboratorios (en español)
(Press Release) MAS Equity Partners, via its private equity fund MAS Equity Fund III, invested in Europa América Laboratorios with the goal of expanding into Latin America. Read more
Macquarie Exits Talasa Projectco and Talasa Conexion in Sale to Hydro Global Investment (en español)
(LexLatin) Macquarie Development Corporation exited Talasa Projectco, an electric generation company, and Talasa Conexion, an architecture and engineering company, in a sale to Hydro Global Investment for an undisclosed amount. Read more
Centerbridge Partners Establishes Partnership with Vectis to Invest in Brazil (em português)
(Valor Econômico)
Centerbridge Partners and Vectis will invest in the Brazilian market via a strategic partnership. Previously in 2017, Centerbridge was one of the investors in a structured credit operation by Vectis in the renewable energy segment. Read more
H.I.G. Portfolio Company Grupo Meridional Acquires Hospital Metropolitano in Brazil
(Press Release) H.I.G. Capital announced that its portfolio company, Grupo Meridional, acquired Hospital Metropolitano in Brazil for an undisclosed amount. Read more
Mota-Engil Raises MXN$3b in BMV via CERPI (en español)
(El Economista) MOTA-ENGIL listed a MXN$3b CERPI on Mexico’s BMV to invest in infrastructure, energy and tourism projects in Mexico. Parallel to the vehicle, MOTA-ENGIL had a co-investment for the same amount, totaling MXN$6b. Read more
Alloy Merchant Finance Makes US$4.5m Structured Investment in Joint Venture with Salud Facil (en español)
(AMEXCAP) Alloy Merchant Finance made an investment of approximately US$4.5m in a joint venture with Salud Fácil, a company in the health sector specialized in providing financing to doctors and patients in Mexico. Read more
Alloy Merchant Finance Invests US$8.75m in Fidelity Marketing Group (en español)
(AMEXCAP) Private equity firm Alloy Merchant Finance made a US$8.75m mezzanine investment in Fidelity Marketing Group, a Mexican company managing loyalty marketing programs. Read more
Colombia Passes New Private Equity Regulation (en español)
(INCP) The Colombian government has issued a new decree specific for private equity funds. The new decree is aligned with international standards and provides tools to identify and prevent risks that may arise in the operation of private equity funds. Read more
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 Venture Capital News
General Atlantic Invests R$250m in Brazilian Apartment Rental Platform QuintoAndar
(Press Release) General Atlantic led a R$250m Series C in Brazilian apartment rental platform QuintoAndar, with participation from existing investors KaszeK Ventures, Qualcomm Ventures, QED Investors, Ruane, and Cunniff & Goldfarb. Acacia Partners invested previously. Read more
Elevar Equity Leads US$5.25m Investment in Uruguayan Fintech Bankingly
(Press Release) Elevar Equity led a US$5.25m investment in Uruguayan digital banking platform Bankingly, with participation from The Rise Fund and Endeavor Catalyst. Read more
Redpoint eventures Invests in Used Clothing e-Commerce Platform Repassa (em português)
(Press Release) Redpoint eventures invested and undisclosed amount in Repassa, an online platform for buying and selling gently used clothing. The capital will be used to improve brand reach and customer experience. Read more
TeraSigma Venture Capital Will Invest in Tech-Based Companies in Mexico (en español)
(El Financiero) TeraSigma Venture Capital announced that it plans to invest US$200k to US$250k each in up to ten projects in Querétaro, Mexico’s technology sector over the next two years. Read more
Draper Cygnus Invests US$3m in Space and Biotech Industry (en español)
(Apertura) The Draper Cygnus fund, invested US$3m in Alxerion, Skyloom, and Stamm The three Argentine companies are focused on the space and biotechnology industries. Read more
Parallel18 Ventures Will Invest US$225k in Four Startups (en español)
(El Nuevo Dia) The Fideicomiso de Ciencia, Tecnología e Investigación (FCTI) announced that it will invest US$225k through the Parallel18 Ventures tracking fund in four startups in Puerto Rico and Latin America. Read more
Invexor Capital led a US$15.8m Investment in Chilean Developer Kauel (en español)
(Economia y Negocios) Invexor Capital led a US$15.8m investment in Kauel, a Chilean developer working on solutions in industrial tech, education and retail, to fund international expansion. Read more
Colombia Studies Bill That Will Allow Financial Institutions To Invest Directly in Fintech Companies (en español)
(Colombia Fintech) The Colombian government published a bill that will allow financial institutions to invest directly in fintech companies. Read more
3xBit Acquires Cryptocurrency Broker Troca Ninja (em português)
(Portal do Bitcoin) 3xBit , a Brazilian cryptocurrency broker, announced the acquisition of the brokerage Troca Ninja. The two brokerages will integrate their cryptocurrencies and will work with Bitcoin, Litecoin, Dash, Dogecoin, ATM Cash, Smartcash, and others that were being traded by Troca Ninja. Read more
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 Real Estate News
MIRA Will Invest MXN$4b in Mixed-Use Complexes in Mexico (en español)
(El Financiero) Investment and real estate platform MIRA plans to invest MXN$4b in mixed-use urban complexes in Queretaro, Mexico City, Mexico state and Monterrey. Read more
Blue Equity Executes First Phase for the Sale of Mexican Resort
(Global Legal Chronicle) Private equity firm Blue Equity executed the first phase for the auction/sale of a resort located in Tulum, Mexico called Mukan, Tulum Sian Ka’an Reserve for an undisclosed amount. Read more
Grupo O'Donnell Registers MXN$2b CKD on BMV (en español)
(LexLatin) Grupo O'Donnell registered a CKD with a maximum issuance of MXN$2b on the Mexican stock exchange BMV. The private capital fund will invest in industrial and urban real estate and in the development of industrial logistics infrastructure. Read more
H.I.G Signs Agreement with Tecnisa for 2019 Launch
(Valor Econômico) Tecnisa, a Brazilian residential property manager, announced a joint venture with H.I.G. Capital to return to the real estate market after two years of inactivity in the sector. This represents H.I.G’s first residential real estate deal in Brazil. Read more
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell. |
The Association for Private Capital
Investment in Latin America
589 8th Avenue, 18th Floor
New York, NY 10018
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