LatAm Venture Bulletin September 7, 2016

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LatAm Venture Bulletin

> The number of VC transactions in the region are up 39% year over year, with US$218m deployed across 104 transactions in 1H2016, according to LAVCA’s 2016 Mid-Year Data & Analysis. Mexico led the region in terms of venture investments for the first time since LAVCA began collecting data in 2008, with 47 VC transactions (versus 11 in 1H2015). Read the highlights in English, Spanish, or Portuguese. LAVCA members can download the report for free using their login. The report is US$395 for non-members.

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> US$1.3b was invested in 522 impact investing deals in 2014 and 2015, according to Impact Investing Landscape in Latin America, a new 140+ page report created by ANDE, LAVCA, and LGT Impact Ventures to map impact investing in the region, including deep dives on Brazil, Colombia, and Mexico. Access the report in English, Spanish, and Portuguese.

Speaking of impact, LAVCA interviewed Marcio Waked, Founder of NESsT-funded Bio Fair Trade about generating sustainable income for artisans in Brazil and how the Projeto do CRAB (Centro SEBRAE de Referência do Artesanato Brasileiro), a 4,500m² renovated space inside three historic buildings in Rio de Janeiro, has helped to draw visibility to Brazilian artisan culture amidst Rio2016 and the Paralympics. 


> British PE firm Permira and US VC firm Technology Crossover Ventures have joined forces to make their first Brazilian direct investment in Mutant, a contact center technology software platform. Mutant spun out of Genesys Prime, the Brazilian operation of Genesys, which was acquired by Permira in 2011.

> Trinity Ventures led a US$15m Series B in Auth0, an identity-as-a-service startup founded by Argentines and based in Washington State, with participation from returning investors Bessemer Venture Partners, K9 Ventures, and Silicon Valley Bank. Cygnus and NXTP invested previously. 

monashees+ led a 
US$3.1m investment in Brazilian pet-sitting platform DogHero, with participation from previous investor KaszeK. 

Wayra Chile and Soluciones Orión (through ChileGlobalAngels) invested US$210k in Chilean logistics platform SimpliRoute. 500 Startups invested previously.

ALLVP made an undisclosed investment in Apli, a Mexican on-demand job marketplace.

Undisclosed American investors invested in Chilean bus ticketing platform PasajeBus. Imagine Business Lab is a previous investor. 


> German chemical and pesticide producer Basf is the next global giant to move into LatAm with the launch of agtech accelerator Agrostart. In partnership with ACE (formerly Aceleratech), Agrostart will provide startups R$150k investment and consideration for follow-on financing by Basf Venture Capital. Applications are open until September 18. 



LAVCA welcomes Elevar Equity and Mass Challenge Mexico as members.

Elevar Equity is a growth equity investor focused on connecting underserved communities to global networks. Founding partners Johanna Posada and Maya Chorengel oversee LatAm investments. Bogotá Contact: Danielle Wainer,

> Mass Challenge is a no-equity, not-for-profit global accelerator. Mass Challenge Mexico is managed by Camila Lecaros, Managing Director, out of Mexico City. 



The Argentina Business & Investment Forum, launched by President Mauricio Macri and hosted by the Argentina Investment and Trade Promotion Agency, is happening September 12-15 in Buenos Aires. This program is invite only; contact Caitlin Mitchell ( for eligibility. 

Brazil Week is happening September 12-16 in Silicon Valley, with programs hosted by Apex-Brasil, ABVCAP, BayBrazil and Redpoint eVentures. Check out the agenda.

Finnovista is hosting FINNOSUMMIT on September 20 in Mexico City. Check out the agenda. Finnovista counts 158 fintech startups in Mexico, more than any other country in the region.

The WeXchange Pitch Competition is seeking innovative science, technology, engineering, and math (STEM) women entrepreneurs in LatAm. Submit your application by September 16 and register to attend the annual forum in Buenos Aires, November 14-15.

Connect with leading global and LatAm VCs and entrepreneurs at the LAVCA Venture Investors NY Summit at the Tribeca Rooftop in NY on September 29. The program features fireside chats with Facebook, FLAG Capital Management, Naspers, and Google. Access the full agenda.



Brazil’s Comissão de Valores Mobiliários (CVM) has made important operational and accounting changes to FIPs, including the creation of a seed fund classification.

Bloomberg reports Mexico is considering tax cuts for local VC and PE investors, including a cut on share sales via IPO from 35% to 10%, and a change that could let funds offset carried interest taxes with investment losses.

U.S. Citizenship and Immigration Services (USCIS) is proposing the International Entrepreneur Rule, which would allow certain international entrepreneurs to be considered for temporary permission to be in the US so that they may start or scale their businesses. One consideration is significant financing from domestic investors.

Brazilian Congress is considering a bill that would ban Waze. (Also under consideration: laws to spy on civilians and criminalize social media.)

WhatsApp has started sharing user data with Facebook, including phone numbers and time spent on the app, to “improve your Facebook ads and product experiences.” At least we know they aren’t sharing message content. You have a couple of weeks to opt out.



Watch HarbourVest’s McComma Grayson III talk about how fund managers without exits can demonstrate value at LAVCA’s inaugural VC in NY program. This is the second of a series on Best Practices for Pitching LPs.

> Adeo Ressi says Founders Institute is doubling down on Latin America, with new launches in São Paulo, Costa Rica, Curitiba, Belo Horizonte, Ribeirao Preto, Panama City, Cordoba, and Guatemala City.

 AngelList co-founder Naval Ravikant says Chinese private equity giant CSC’s US$400m capital commitment is just the beginning of Chinese investment in startups globallly. “ It could easily go 10x from here — this trickle could become a tsunami of capital — and I think it will.”

> SoftTech founder Jeff Clavier on underwhelming CEOs: “Startups are hard. The thing that no one talks about are the personal aspects of running a startup and the relationships between investors and entrepreneurs. We’re coaches and mentors, but sometimes, we’re psychiatrists, too.”


The LatAm Venture Bulletin is a news platform of the Latin American Private Equity and Venture Capital Association.

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