Latin American Private Capital Update - May 08, 2018 Latin American Private Capital Update May 21, 2019
May 21, 2019
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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

CDPQ Acquires 45% Stake in DP World Chile...

Venture Capital News
Venture Capital News

monashees Leads US$10.5m Investment in Kovi...

Real Estate News
Real Estate News

Kinea Completes Acquisition of Atrium Faria Lima...



LAVCA Members

LAVCA welcomes 29 new member firms to the association including:


  • TPG Growth


  • AC Ventures
  • Amadeus Capital Partners
  • BlueBox Ventures
  • Canary
  • CDPQ Brasil
  • ChileGlobal Ventures
  • Fosun Investimentos
  • HASTA Capital
  • IG4 Capital Investimentos
  • IndicatorCapital
  • InterEnergy Holdings
  • LGT Impact Investment
  • Liil Ventures
  • Mercado Libre
  • MiLA Capital
  • Mountain Nazca
  • Peninsula Investment Group
  • Starboard Partners
  • The Washington University


  • Akerman
  • Beccar Varela
  • Champlain Advisors
  • Morgan Stanley
  • ProColombia
  • Shearman & Sterling
  • Upwelling Capital Group
  • Uruguay XXI
  • Vistra

A full list of LAVCA's Members is available here. For more information on becoming a member, visit LAVCA's website.




APPLY NOW for LAVCA | MIT Inside Private Equity: Dealmaking in Latin America, an executive education program led by the industry’s most seasoned deal makers and esteemed MIT faculty, focused exclusively on Latin America, and rooted in real-life case studies.

Over 100 participants have graduated from the program since it was launched in 2015.

Prospective attendees include Senior Associates/Vice Presidents, Principals, and Directors from private equity firms, as well as professionals from family offices, corporations, business owners, and institutional investors. Relevant industry participants seeking to transition careers are also welcome to apply.

Applicants will be admitted on a rolling basis. Limited seats available.

Contact to see if you qualify to attend.


Member Profile: Angel Uribe, Partner, TPG Growth

Luis Cervantes

LAVCA spoke with Angel Uribe, Partner at LAVCA+ member firm TPG, about TPG Growth's exposure to Latin America to date and the trend of tech-enabled services and products continuing to grow in sectors like education, financial services and healthcare.

quotation-markToday, Latin America is already one of the largest and fastest growing markets for some of our global consumer technology businesses such as Uber, AirBnB, and Spotify.

Uribe also talked about how Latin America represents an important opportunity for The Rise Fund given the region’s development potential and how collinearity between investment success and impact is key.

quotation-markLatin America represents an important opportunity for The Rise Fund given its development potential but also broader sectoral trends taking place in the region: a focus on education and digital literacy, a proliferation of mobile technology and regional and national efforts to expand clean energy.

TPG Growth’s investments in Latin America include Azul Linhas Aereas, one of largest airlines in Brazil, Resultados Digitais, the leading marketing automation platform for SMBs in the region, and Digital House, an education platform providing coding and digital skills in Brazil and Argentina.

Read the full article here.


Inside Another Record Breaking Year: Tech in LatAm


VC investment in Latin American startups has quadrupled since 2016 to a record US$2b in 2018, according to LAVCA data.

Investment by traditional VCs as well as corporates such as Movile, Naspers, SoftBank, Tencent, and Delivery Hero are supporting a new wave of investments in startups in the region, including record US$100m+ rounds in logisitics and distribution companies like iFood, Loggi, and Rappi, as well as fintechs like Nubank. And this doesn’t even account for the record investments we have already seen in 2019 like Rappi’s latest US$1b round from Softbank (details below).

Access LAVCA’s Annual Review of Tech Investment in Latin America, an 8-page report, prepared for and presented at Riverwood Capital’s Latin American Tech Forum in Miami, with insights on the major markets and sectors, top deals by amount, most active investors and new players, co-investments, and more.


Latest Industry News

Private Equity News
Private Equity News

CDPQ Acquires 45% Stake in DP World Chile

(Press Release) CDPQ through its investment partnership with DP World acquired a 45% stake in DP World Chile, which operates terminals in Puerto Central and Puerto Lirquen. CDPQ partnered two years ago with DP World to create a US$3.7b platform to invest in ports and terminals globally. Read more

Brazil’s Vinci Closes US$1b Fund III

(Press Release) Vinci Capital Partners announced the final close of its most recent PE fund, Vinci Capital Partners Fund III and related co-investment entities of US$1b (R$3.962b). The amount includes US$310.6m (R$1.225b) from co-investment capital, of which US$227.6m remains discretionary on the part of investors. Read more

Kinea Investimentos Acquires R$150m Stake in Centro Clínico Gaúcho (em português)

(Valor Econômico) Kinea Investimentos acquired a R$150m minority stake in Centro Clínico Gaúcho (CCG). CCG is a vertical health provider that provides health plans to 176,000 people and operates clinics in Rio Grande do Sul. Read more

General Atlantic Appoints Pedro Parente as Chairman of Brazil 

(Press Release) General Atlantic has appointed Pedro Parente to the newly created position of Chairman of Brazil. The advisory position will help lead General Atlantic’s portfolio companies in Brazil. Mr. Parente is the CEO of BRF Food Group, the ex-CEO of Petrobras, and has served in the administrations of several Brazilian presidents.  Read more

Cartesian Capital Group Invests US$50m in Viva Air Airline (en español)

(La República) Cartesian Capital Group invested US$50m for a minority stake in Peruvian discount airline Viva Air. The investment will be utilized to help purchase 50 new Airbus A320 aircrafts to accelerate Viva Air’s expansion in South America.  Read more

General Atlantic-Backed Arco Educação Acquires Positivo (em português)

(Press Release) Brazilian education company Arco Educação acquired Positivo, an educational content provider, for R$1.65b. Arco Educação IPO’d on the Nasdaq in 2018. Backers include General Atlantic. Read more

Venture Capital News Venture Capital News

monashees Leads US$10.5m Seed Investment in Kovi (em português)

(Brazil Journal) monashees led a US$10.5m seed investment in Kovi a provider of rental cars for on-demand drivers in Latin America, with participation from MAYA Capital and ONEVC. Co-founders Adhemar Milani Neto (CEO) & Joao Costa (CTO) are alums of rideshare 99. Read more

DILA Capital and Mountain Nazca Mexico Exit Creze (en español)

(Press Release) DILA Capital and Mountain Nazca Mexico exited Creze, a Mexican financial services startup for small businesses, through a sale to Polygon Fintech, a financial group targeting unbanked consumers. This transaction represents DILA’s first exit from Fund III and Mountain Nazca’s third exit from Fund I. Read more

KaszeK Ventures, Redpoint and QED Investors Invest R$16m Series A in Xerpa (em português)

(Exame) KaszeK Ventures, Redpoint eventures and QED Investors made a R$16m Series A investment in Xerpa, a Brazilian HRtech platform.
Read more

Andreessen Horowitz Invests US$1.6m in Uruguayan Startup Meitre (en español)

(El País) Andreessen Horowitz made a US$1.6m investment in Meitre, an Uruguayan restaurant management platform. Read more

Signia Venture Partners Leads US$2.5m Round in Colombia’s Picap

(Press Release) Signia Venture Partners led a US$2.5m seed round in Colombia’s Picap to expand its mototaxi mobility platform throughout Latin America. Joining Signia in the Picap round were Peter Livingston with Unpopular Ventures, Another Company Limited, Fahim Saleh of Adventure Capital, and other angel investors. Read more

Astella Investimentos Invests R$6.8m in Data Intelligence Platform JOTA (em português)

(Brazil Journal) Astella Investimentos led a R$6.8m investment in JOTA, a data intelligence platform focused on Brazilian state institutions. Read more

Sapphire Ventures Leads US$130m Series E in Auth0

(VentureBeat) Sapphire Ventures led a US$103m Series E investment in Auth0, a US-based identity verification solution founded by Eugenio Pace and Matías Woloski, with participation from existing investors Bessemer Venture Partners, Trinity Ventures, K9 Ventures, Meritech Capital, Telstra Ventures and World Innovation Lab, at a reported valuation of US$1b. Read more

DILA Capital & Angel Ventures Peru Invest in Emptor

(Press Release) DILA Capital and Angel Ventures Peru made an undisclosed seed investment in Emptor, a Mexican identity services platform for on-demand companies. Read more

CEMEX Ventures Invests in Brazilian Delivery Platform LINKX

(Press Release) CEMEX Ventures made an undisclosed investment in LINKX, a Brazilian delivery management platform for construction goods. Read more

Portuguese VC Indico Capital Partners Invests in Zenklub (em português)

(DCI) Portuguese VC Indico Capital Partners made its inaugural Brazil investment in Zenklub, an online therapy and wellness platform. Read more

Google AI Impact Challenge Invests US$750k Grant in Brazilian App Hand Talk

(Press Release) HandTalk, a real-time translation platform for Brazilian sign language, received a US$750k grant from Google(dot)org as one of 20 global winners of the Google AI Impact Challenge. Read more

Dev Labs Invests US$100k in Chile's Altum Lab (en español)

(Diario Financiero) Dev Labs made a US$100k seed investment in Altum Lab, a Chilean fish feed optimization platform founded by Madeleine Valderrama. Read more

Superjobs Invests R$1m in Startup Matchbox Brasil (em português)

(Baguete) Superjobs Ventures led a R$1m investment in Matchbox Brasil, a recruitment marketing platform. Read more

DILA Capital Invests in Alana Jobs

(Press Release) DILA Capital made an undisclosed investment in Alana Jobs, a Mexican HR tech platform for the hospitality industry. Read more

Mexican E-Commerce Platform 99 Minutos Acquires Chilean Startup MuvSmart (en español)

(Press Release) 99 Minutos, a Mexican ecommerce shipping platform, acquired MuvSmart, a Chilean last-mile delivery startup, for an undisclosed amount. Engie Factory Mexico made a follow-on investment in 99 Minutos as part of the transaction. Read more

Real Estate News Real Estate News

Kinea Investimentos Completes 100% Acquisition of Atrium Faria Lima for R$285m (en español)

(LexLatin) The real estate fund of Kinea Investimentos completed the 100% acquisition of Atrium Faria Lima a 14-floor office building in São Paulo for R$285m. Read more

Equity International Plans to Sell Shares in Latin American Companies

(Yahoo Finance) Equity International is weighing plans to sell shares in Latin American companies from its portfolio, including public offerings for Brazilian parking lot operator Estapar; Mexican mall operator Acosta Verde; and Colombian lodging company Decameron. Read more

Pactia Invests COP$98m in Distribution Center in Colombia for Colgate Palmolive (en español)

(La República) Real Estate development firm Pactia completed the COP$98m construction of a distribution center in Palmira, Colombia to be rented by Colgate Palmolive. Read more

LAVCA & Industry Events
Foro Argentino de Inversiones 2019
Hosted by ARCAP | May 22, 2019 | Buenos Aires
Congresso ABVCAP 2019
Hosted by ABVCAP | May 23-24, 2019 | São Paulo
Investor Relations Marketing & Communications Forum 2019
Hosted by PEI | June 19-20, 2019 | New York, NY
SuperReturn Emerging Markets
Hosted by SuperReturn | June 24-26, 2019 | Amsterdam
Hosted by LAVCA | September 23-26, 2019 | New York, NY
LAVCA | MIT Inside PE: Dealmaking in Latin AmericaLAVCA-Icon
Hosted by LAVCA & MIT | November 20-23, 2019 | Miami, FL
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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