LatAm Venture Bulletin December 7, 2016

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LatAm Venture Bulletin

> LAVCA welcomed 40+ fund managers (and several angels) to our bi-annual, private gathering, VC in São Paulo, hosted at Cubo with support from Telefonica Open Future_, Omidyar Network, Silicon Valley Bank, and ABVCAP.

Sessions included: Lessons learned from two decades of pioneering Intel Capital’s investments in the region from David Thomas; Recent case studies from monashees+, Valor Capital, DGF Investimentos, and Redpoint eventures on co-investing with international VCs; And a presentation of trends in the Brazilian exit market derived from an original list of 250+ recent digital M&A transactions.

Thanks to all who participated—we will reconvene in São Paulo in 2017.


> DST Global, the investment firm started by Russian venture capitalist Yuri Milner, led a US$80m round in Nubank, with participation from Redpoint Ventures and Ribbit Capital. Prior investors include Sequoia Capital, QED Investors, Tiger Global Management, and Founders Fund. Nubank raised US$80m in 2015 over two rounds, and separately raised a R$200m debt round from Goldman Sachs.

> Redpoint eventures made a R$3m investment in Pismo Soluções Tecnológicas, a Brazilian payment processing platform.

500 Startups made a R$500k investment in Idwall, a Brazilian AI startup that provides identity verification services.

IGNIA made an undisclosed investment in Sr. Pago, a Mexican app that allows businesses to accept payments from a debit or credit card via tablet or smartphone.

Social investor Oikocredit made an undisclosed follow-on investment in Banco Fie, a Bolivian microfinance loan provider and bank.

UNICEF made an undisclosed investment in Nicaragua’s Saycel, which provides affordable mobile connectivity to communities in rural areas, as part of its first portfolio of investments in open source technology solutions focused on connectivity, real time data collection, identity technology, and learning.

Grupo Abril made an undisclosed investment in Guiato, a Brazilian local shopping deal app. A5 Capital Partners invested previously. Grupo Abril also made an undisclosed investment in NerdMonster, a Brazilian digital retail startup.

Fundo de Investimentos Parma made a R$10m investment in Vertis, a Brazilian commercial infrastructure startup.


> WayraMovile, and 500 Startups exited Peruvian movie ticket platform Cinepapaya, which sold to Fandango for an undisclosed amount. This is Fandango’s second acquisition to expand their presence in the region, after purchasing in 2015 for a reported US$71m. Read LAVCA’s interview with Cinepapaya Co-Founder Gary Urteaga.

Decolar is talking about an IPO next year on the Nasdaq. Decolar is backed by Tiger Global, General Atlantic, Accel Partners, Sequoia Capital, and Insight Venture Partners.


> Colombia’s (formerly RedSeguro) and Asegúrate Fácil have merged to form one of the largest online insurance groups in Latin America. The deal included an undisclosed investment from Axon Partners Group and Velum Ventures. Read LAVCA’s interview last year with CEO Nicolas Pardo Lanzetta.

> Webedia, a French gaming holding company, acquired a controlling stake in Nerd ao Cubo, a subscription service platform focused on the nerd demographic. Webedia also acquired YouTube network Paramaker and invested in influencer platform Digital Stars earlier this year.

> Mutant, a contact center technology software platform that spun out of Genesys Prime earlier this year, acquired CCM7, a Brazilian workforce optimization platform.

> Senior Solution, a Brazilian financial services company, acquired Att/PS for R$50m. This is the company’s ninth acquisition since 2013.

> Brazilian tax tech company A&MR IT acquired WTech to expand its vertical expertise.

> CargoX has set aside R$15m for acquisitions in 2017.


> Chilean angel network Venture Capital launched with the support of Corfo.

BZPlan is looking to invest R$50m in startups in the south of Brazil, in partnership with WOW Aceleradora.



Congrats to Gaszen, Gus, Bitso, and Bayonet for winning the 2016 MassChallenge Mexico Accelerator program and receiving US$100k in zero-equity prizes.

> NXTPLabs’ Fintech Conference is December 15 in Buenos Aires. Check out the agenda and register here.

> LatAm Startups launched the LatAm Startups Hub, an accelerator that will scale Latin American startups globally from Toronto.



More coverage on the Nubank deal from Vinod Sreeharsha at The New York Times and international editor Ingrid Lunden at TechCrunch.

Kueski CEO Adalberto Flores explains why only 17% of Mexican adults have access to a credit card, and how fintech is going to fill the financial inclusion gap, in Los retos de un crédito en línea y su aportación a la inclusión financiera.

Swedish business intelligence company Qlik opened an office in São Paulo. Brazil and Mexico are Qlik’s leading markets in the region

The Guardian profiles Laboratoria, a project to teach women in Peru and Chile to code that has graduated 400 women since 2014. Laboratoria will expand to Guadalajara next year.

Atomico head of research Tom Wehmeier has a deep dive on the state of European tech in 2016.



Slack CTO Cal Henderson explains How AI Could Eliminate the Need to Check Your Email Ever Again.

Can Juno, a ride-share startup that is setting aside half of its shares into a pool for its drivers, compete with Uber?

Om Malik tells The New Yorker that Silicon Valley has an empathy vacuum. By 2020, "Silicon Valley will have become an even bigger villain in the popular imagination, much like its East Coast counterpart, Wall Street." 

Tech writer Jeff Jarvis and Betaworks CEO John Borthwick are calling for tech cooperation against fake news. Among other ideas: “Create a system for media to send metadata about their fact-checking, debunking, confirmation, and reporting on stories and memes to the platforms.”

Stephen Hawking: “We can’t go on ignoring inequality, because we have the means to destroy our world but not to escape it.”

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