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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 Members now have priority access to register for LAVCA Week (September 23-26, 2019). Attendees include private capital investors from Latin America and around the globe, such as fund managers, institutional investors, family offices, development finance institutions, sovereign wealth funds, fund of funds, corporates, and secondaries.
Activities are organized around two programs: the LAVCA Summit & Investor Roundtable Private Equity Program (September 23-25) and the LAVCA Venture Investors Annual Meeting (September 26).
The 2019 LAVCA Week agenda also includes a Member and LP reception hosted by Advent International (September 23) a separate program exclusive to family offices (September 23), an LP-only breakfast hosted by ILPA (September 25), and a VC/tech VIP welcome cocktail (September 25).
Contact LAVCA with program and registration-related questions.
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This week the Asociación Mexicana de Capital Privado, AMEXCAP, is hosting Mexico PE Day in New York.
Taking place on June 19-20 at the New York Marriott Marquis, the program covers private equity, real estate, infrastructure, and energy.
Speaker highlights:
> A Keynote and Macro Overview from Arturo Herrera, Deputy Finance Minister, SHCP.
> A Keynote Interview with Kenneth Smith, former Chief Negotiator of NAFTA and Cate Ambrose, President, LAVCA.
> A panel on Investment Opportunities with participation from Colony Latam Partners, EMX Capital, Alta Growth, and ACON Investments.
> A discussion with Martín Escobari of General Atlantic on Entrepreneurship in Mexico.
For information visit mexicopeday.com. Register here. #MexicoPEDay
Access LAVCA's Industry and Partner Events page for upcoming programs.
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Private Equity News
DEG and Altra Acquire 38% of Chile's AVLA (en español)
(Diario Financiero) German development institution DEG and Colombian private equity firm Altra Investments acquired 38% of Chilean insurance company AVLA through a joint-venture. The financial terms of the deal were undisclosed. Read more
Bain Capital to Sell 10% of Intermédica via Public Offering (em português)
(Brazil Journal) Bain Capital will sell 10% of its stake in NotreDame Intermédica in a second follow on share offering following Intermédica’s IPO in 2018. The share offering is another partial exit for Bain netting them proceeds of R$2b. Read more
Actis' Atlas Renewable Energy Launches Guajiro Solar Plant
(BN Americas) Atlas Renewable Energy, a portfolio company of Actis, launched the Guajiro Solar Plant, its first project in Mexico. The plant will have the capacity to generate 300 GW annually. Atlas invested more than US$118m into the project which was constructed and launched within seven months. Actis has plans to invest up to US$600m in Atlas to fund its continued expansion. Read more
Mesoamerica Acquires Dairy Manufacturer Alquería (en español)
(Portafolio) Mesoamerica acquired a minority stake in Colombian Dairy manufacturer Alquería. The IFC transferred its minority stake to Mesoamerica which added additional capital for a 35% position in the company. Read more
AC Capitales Exits Lima Airport Partners with Sale to Fraport
(Latin Finance) AC Capitales sold its remaining 10% stake in Lima Airport Partners to German transport company Fraport. Fraport now holds an 80% stake. LAP has a 30-year concessionaire to operate Lima’s airport. Read more
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 Venture Capital News
SoftBank Invests US$300m in Gympass
(Press Release) Gympass, a Brazilian B2B gym membership platform with global operations, raised US$300m at a reported valuation over US$1b. Investors include SoftBank Vision Fund, SoftBank Latin America Fund and existing investors General Atlantic, Atomico, and Valor Capital Group. Read more
Valor Capital, Unbox Capital and Others Invest US$20m Series B in In Loco (em português)
(Brazil Journal) Brazilian geo-precision startup In Loco raised a US$20m series B led by Valor Capital and Unbox Capital, the Trajano family office, with participation from Naspers and others. Read more
Jaguar Ventures Seeks to Raise US$25m for its LatAm Fund
(PEHub) Jaguar Ventures is seeking to raise US$25m for its second early-stage Latin America fund, according to an SEC filing. Read more
Andreessen Horowitz and Others Invest US$12.5m in ADDI
(TechCrunch) Andreessen Horowitz invested US$12.5m in ADDI, a Colombian point-of-sale lending startup, with participation from previous investors monashees, Village Global, and Sinai VC. Read more
Foundation Capital Invests US$6m in Colombian Edtech Platzi
(Contxto) Foundation Capital made a US$6m investment in Colombian edtech Platzi. Other investors include Omidyar Network, Mountain Nazca Chile, Y Combinator, 500 Startups, and others. Read more
DNA Capital Invests R$20m in Feegow Clinic (em português)
(Baguete) DNA Capital invested R$20m in Feegow Clinic, a Brazilian software provider to medical clinics. Read more
HCS Capital Invests US$3m in Chile's RedCapital
(LatAm List) HCS Capital invested US$3m in RedCapital, a Chilean crowdfunding platform. Read more
Undisclosed Investors Invest US$2m in Odd Industries
(Diario Financiero) Chilean big data startup Odd Industries raised a US$2m seed round from undisclosed investors. Read more
Globant Ventures Invests US$500k in CamonApp, AvanCargo and TheEye (en español)
(Iproup) Globant Ventures invested US$500k in CamonApp (AR), AvanCargo (cargo transport), and TheEye (HRtech). Read more
ALLVP Invests in Edtech Slang
(Press Release) ALLVP Made an undisclosed investment in Boston-based edtech Slang and partnered with the startup to launch a free English course on entrepreneurship for Spanish-speaking entrepreneurs. Read more
Magma Partners Makes Undisclosed Investment in Truora
(LatAm List) Magma Partners made an undisclosed investment in Truora, a Colombian fraud detection startup providing instant background checks. Read more
DILA Capital, Shell Foundation, Endeavor Catalyst, & Others Invest US$12m in Sistema.bio
(Yahoo Finance) Mexico City based impact startup Sistema.bio raised US$12m from DILA Capital, Shell Foundation, Engie RDE Fund, EcoEnterprise Fund, EDFIMC (ElectriFI), Endeavor Catalyst, CoCapital, Triodos, Alpha Mundi, Lendahand, and others. Read more
Vereeni Acquires 24% Stake in Caleta Gaming
(iGaming Business) Maltese VC Vereeni Investments acquired a 25% stake in Caleta Gaming, a Brazilian gaming content development studio, for an undisclosed amount. Read more
Harvard Angels Brazil Invests in Jobecam (em português)
(Money Times) Harvard Angels Brazil invested in Jobecam, a Brazilian job matching platform. Read more
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 Real Estate News
Hemisfério Sul Investimentos Buys Icon Realty I Real Estate Investment Fund for R$620m (en español)
(Lex Latin) Brazilian real estate investment firm Hemisfério Sul Investimentos (HSI) purchased the entire portfolio of the Icon Realty I Real Estate Investment Fund administered by BTG Pactual. HSI paid R$620m for the portfolio which consists of 32 real estate properties in Brazil. Read more
Cerberus Capital Management Partners with Brasil Brokers (em português)
(Valor Econômico) US Real Estate firm Cerberus Capital Management has entered the Brazilian market through a partnership with local real estate manager Brasil Brokers. Brasil Brokers issued R$120m of debentures of which 73% was purchased by Cerberus. If converted this would give Cerberus a 29% stake in Brasil Brokers making them the main shareholder. Read more
Sura Asset Management Launches Second Real Estate Fund via Peru’s FIRBI Structure (en español)
(LexLatin) Sura Asset Management has announced the successful launch of its second real estate investment fund utilizing Peru’s FIRBI structure. With US$1b in commitments it is the largest FIRBI in Peruvian history. Read more
ODATA Launches its First Data Center in Colombia
(Press Release) Real Estate Investment Trust Company CyrusOne helped Brazilian data center company ODATA open its first data center in Bogotá. CyrusOne holds a 10% minority stake in ODATA while Pátria’s infrastructure fund holds a majority stake. Read more
Odebrecht Sells Headquarters in Brasil to SDI Gestão and Barzel Properties (em português)
(Estadão) Odebrecht sold its headquarters in São Paulo to SDI Gestão and Barzel Properties. The financial terms of the deal were undisclosed, but through the sale Odebrecht will settle a R$500m debt it incurred to finance the construction of the headquarters. Read more
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VII Mexico PE Day
Hosted by AMEXCAP | June 19-20, 2019 | New York, NY
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Investor Relations Marketing & Communications Forum 2019
Hosted by PEI | June 19-20, 2019 | New York, NY
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VC StratComm LIVE: Meet the Press
Hosted by NVCA | June 24, 2019 | New York, NY
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SuperReturn Emerging Markets
Hosted by SuperReturn | June 24-26, 2019 | Amsterdam
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6ª Conferência Brasileira de Venture Capital - Florianópolis
Hosted by ABVCAP | August 12-13, 2019 | Florianópolis
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BlastU 2019
Hosted by BlastU | August 13-14, 2019 | São Paulo
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BayBrazil Annual Conference
Hosted by BayBrazil | August 22, 2019 | Menlo Park, CA
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LAVCA Week
Hosted by LAVCA | September 23-26, 2019 | New York, NY
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Peru Venture Capital Conference
Hosted by COFIDE | October 16-17, 2019 | Lima
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LAVCA | MIT Inside PE: Dealmaking in Latin America
Hosted by LAVCA & MIT | November 20-23, 2019 | Miami, FL
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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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