Latin American Private Capital Update - May 08, 2018 Latin American Private Capital Update June 5, 2018
June 5, 2018
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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

Advent to Acquire Walmart Brazil...

Venture Capital News
Venture Capital News

Visa Leads US$12.5m Round in YellowPepper...

Real Estate News
Real Estate News

GuardeAqui Acquires Brazilian Selfstock...


LAVCA Week: Member Priority Registration Open


LAVCA Members now have priority access to register for LAVCA Week (September 24-27, 2018). 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 24-26) and the LAVCA Venture Investors Annual Meeting (September 27).

The 2018 LAVCA Week agenda also includes a separate program exclusive to family offices (September 24), an LP-only breakfast hosted by ILPA (September 26), a dedicated afternoon program for real estate investors (September 26) and NEW IN 2018, a half day ILPA Institute Workshop (September 27) for pension funds, insurance companies, and other qualified institutional investors.

Contact Leah Galamba with program and registration-related questions.


Update on Brazil Public Policy

Brazil Policy

On May 25th, 2018 Brazil's National Monetary Committee (CNM) updated the alternatives investment regulation for pension funds. The CNM decreased pension funds’ investment limit in private capital vehicles from 20% to 15% of assets under management, and vetoed any new direct investment in real estate assets.

According to LAVCA Legal Committee member firm Veirano Advogados, 
the Resolution No. 4,661 sets forth new guidelines for the investment of the guaranteeing funds of the plans managed by the closed complementary private pension entities. The new legislation aims, amongst other aspects, to increase the transparency regarding the investments made and to dictate parameters to improve the management of EFPCs.

Access more information about the rule affecting pension funds in Brazil.


Meet the Professors: Inside PE Dealmaking in Latin America

Brazil Policy

LAVCA and MIT Sloan School of Management Latin America Office are partnering for INSIDE PRIVATE EQUITY: Dealmaking in Latin America, taking place in Miami, FL on November 12 -15, 2018. The program features sessions led by esteemed faculty from MIT Sloan School of Management including:

William Aulet
Professor of the Practice, Technological Innovation, Entrepreneurship, and Strategic Management
William is an award-winning educator and author whose current work is built off the foundation of his 25-year successful business career - first at IBM, and then as a three-time serial entrepreneur. Bill's first book, Disciplined Entrepreneurship, released in August 2013, has been translated into over 18 languages and has been the content for three online edX courses which have been taken by hundreds of thousands of people in 199 different countries. The accompanying follow-on book, Disciplined Entrepreneurship Workbook, was released in April 2017.

Roberto Rigobon
Society of Sloan Fellows Professor of Management
Roberto is a Venezuelan economist whose areas of research are international economics, monetary economics, and development economics. Roberto focuses on the causes of balance-of-payments crises, financial crises, and the propagation of them across countries—the phenomenon that has been identified in the literature as contagion. Currently he studies properties of international pricing practices, trying to produce alternative measures of inflation. He is one of the two founding members of the Billion Prices Project, and a co-founder of PriceStats. Roberto has won both the "Teacher of the Year" award and the "Excellence in Teaching" award at MIT three times.

APPLY HERE. Applicants will be admitted on a rolling basis. Completed applications should be submitted as early as possible to reserve your place.


LAVCA at SuperReturn Emerging Markets


Join LAVCA Board Member Martin Diaz Plata, Managing Partner for Capital Group Private Markets, as chair of the Latin America Summit during Super Return Emerging Markets in Amsterdam on June 27th. Martin will be sharing key insights and stats about Latin American PE/VC activity from LAVCA Industry Data. 

LAVCA Members participating as speakers also include Alta Growth Capital, The Axxon Group, CDPQ, Fondo de Fondos, Hamilton Lane, LIV Capital, Partners Group, Quilvest, Teka Capital, and Vinci Partners.
LAVCA Members receive a discount. Contact Caitlin Mitchell for details and access program information here.


Latest Industry News

Private Equity News
Private Equity News

Advent International to Acquire Majority Stake in Walmart Brazil

(Press Release) Advent International will acquire a majority stake in Walmart Brazil. Walmart Inc. will retain 20 percent stake upon completion of the transaction. Read more

Australis Partners Takes Minority Stake in Mexican Healthcare Provider Vitalmex

(Press Release) Australis Partners has agreed to acquire a significant minority stake in Vitalmex, a Mexican provider of medical healthcare services. No financial terms were disclosed. Read more

BNDES and IDB Launch US$1.5b Infrastructure Credit Fund for Brazil

(Press Release) Brazil’s National Bank for Economic and Social Development (BNDES) and the Inter-American Development Bank launched “B2 Infra”, a US$1.5b infrastructure credit fund that will invest in the transportation, energy, sanitation, and social infrastructure sectors in Brazil. BNDES and the IDB will make capital commitments of at least 30% and 10%, respectively, of the fund’s target size, while the rest will be raised from institutional investors. Read more

Arroyo Energy Investors to Acquire Pattern Energy Group’s Chilean Operations for $US67m

(PE Hub) Pattern Energy Group Inc, a renewable power company, has agreed to sell its Chilean operations to Arroyo Energy Investors for US$67m. The deal is expected to close within 90 days. Read more

Venture Capital News Venture Capital News

Visa Leads US$12.5m Investment in YellowPepper

(Press Release) Visa led a US$12.5m strategic investment in Latin American fintech YellowPepper, with participation from existing investors. Read more

Banrisul Launches R$50m Brazilian Fintech Fund Fundo Fintech Ventures (em português)

(Amanhã) Banrisul, the largest bank in Southern Brazil, is launching Fundo Fintech Ventures, a R$50m fund investing in Brazilian fintechs. Banrisul will contribute R$25m, with partner Gama Investimentos and private investors contributing the remaining R$25m. Read more

Mexico’s DILA Capital Holds a MXN$800m Final Close for its Third Fund (en español)

(Press Release) DILA Capital announces the final close of its third fund, with MXN$800m in commitments anchored by Mexico Ventures and NAFIN, Mexico’s Development Bank. Read more

Wharton Alumni Angels Seeks to Invest in Brazilian American Startups (em português)

(Exame) Wharton Alumni Angels’ Brazil Chapter is looking to invest R$9-12m in local startups this year, according to BTG Pactual president Roberto Sallouti, who recently joined the network. Read more

Portugal’s EDP Launches Corporate Venture Capital Vehicle in Brazil

(Press Release) The Portuguese energy company EDP launched a corporate venture capital vehicle, EDP Ventures Brasil. With initial funds of R$30m, the fund is looking for early-stage energy startups focused on: Digital innovation (Blockchain, IoT, Big Data), Client Focused Solutions (Smart Pricing, eMobility, ePayments), Cleaner Energy, Smarter Grids and Support Areas (HR, Logistics). Read more

Amérigo Chile Makes Undisclosed Investment in Chilean Parcel Delivery Startup Entrega Creativa (em português)

(LexLatin) Fondo de Inversión Privado Amérigo Chile Early Stage & Growth, managed by Scale Capital, made an undisclosed investment in Entrega Creativa, a Chilean parcel delivery startup. Read more

Monsanto Leads R$2.3m Investment in Brazilian Agtech Grão Direto (em português)

(Valor Econômico) Monsanto Growth Ventures made its inaugural Brazil investment in Grão Direto, a grain marketplace that primarily transacts via mobile and WhatsApp. Monsanto contributed about half of the R$2.3m investment, with participation from Canary and OpenVC. Read more

Bossa Nova Investimentos Makes Undisclosed Investment in Brazilian SaaS Startup SmartHint (em português)

(Fusões & Aquisições) Bossa Nova Investimentos made an undisclosed investment in SmartHint, a Curitiba, Brazil-based client retention and product recommendation SaaS platform for small and medium businesses.  Read more

Real Estate News Real Estate News

GuardeAqui Acquires Brazilian Self-Storage Operator Selfstock (em português)

(Valor Econômico) GuardeAqui, a company backed by Equity International and Patria Investimentos, closed its third competitor acquisition with the purchase of Brazilan self-storage operator Selfstock. Read more

H.I.G. Capital Acquires Parque Ana Costa in São Paulo, Brazil

(Press Release) Global private equity firm H.I.G Capital has announced the acquisition of AAA office building Parque Ana Costa with 17,997 square meters of space, located in Santos, São Paulo, Brazil. Read more

Trinity Investments, Oaktree, & Walton Street Capital Acquire Los Cabos Hilton

(Press Release) Trinity Investments, Walton Street Capital, and Oaktree Capital Management have announced the formation of a joint venture and acquisition of the Hilton Los Cabos Beach & Golf Resort in Mexico. Read more

LAVCA & Industry Events
Add to Calendar
Mexico PE Day
Hosted by AMEXCAP | June 6-7, 2018 | New York, NY
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Proptech Latin American Summit
Hosted by Marketing in Real Estate | June 7, 2018 | Santiago de Chile, Chile
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SuperReturn Emerging Markets
Hosted by KNect365 | June 27 - 29, 2018 | Amsterdam, Netherlands
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GIIN Investor Forum
Hosted by GIIN & PEI | October 30-31, 2018 | Paris, France
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FLII Central America and the Caribbean
Hosted by Alterna & New Ventures | November 7 - 8, 2018 | Antigua,Guatemala
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Inside Private Equity: Dealmaking in Latin AmericaLAVCA-Icon
Hosted by LAVCA & MIT | November 12-15, 2018 | Miami, Florida
LAVCA Week events (Sept. 24 - 27)
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Family Office Program & DinnerLAVCA-Icon
Hosted by LAVCA | September 24, 2018 | New York, NY
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Summit & Investor RoundtableLAVCA-Icon
Hosted by LAVCA | September 24-26, 2018 | New York, NY
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Venture Investors Annual MeetingLAVCA-Icon
Hosted by LAVCA | September 27, 2018 | New York, NY
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ILPA Institute WorkshopLAVCA-Icon
Hosted by LAVCA & ILPA | September 27, 2018 | New York, NY
LAVCA Members receive a discount on select events. For information on member discounts, contact Caitlin Mitchell.

Latin American Venture Capital Association
589 8th Avenue, 18th Floor
New York, NY 10018

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