Latin American Private Capital Update - November 17, 2021
November 17, 2021
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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

EMX 2021 Acquires EMX Capital's Portfolio...

Venture Capital News

Tencent and SoftBank Lead USD200m Series F...

Real Assets News

3R Petroleum Raises BRL2.1b via Follow-On Offering...

 
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2022 CALL FOR SUBMISSION: LATIN AMERICAN PRIVATE CAPITAL DEAL awards

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The 2022 Latin American Private Capital ESG Deal Awards seek to spotlight deals with extraordinary ESG outcomes at the firm and company level as well as highlight examples of COVID-19 efforts within the company and the local community.

The deadline to submit a portfolio company for Award consideration is November 30, 2021.

Select deals will also be considered for publication in a series of case studies. To date, deal cases published by LAVCA have received nearly 6,000 downloads. Private capital award winners have also been featured at investor events, in industry publications and via widely distributed news and press releases across LAVCA’s network.

NOMINATE A PORTFOLIO COMPANY FOR AN AWARD: We exclusively invite member GPs to nominate a portfolio company deal across any asset class including private equity, VC/tech, private credit and real assets. Member GPs can request the submission form and submit their deal by emailing Megan Smith at msmith@lavca.org. Associate members can also nominate firms and deals by contacting Megan. 

 
 

IPEV Valuation Guidelines: Call for Feedback by January 28, 2022

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The International Private Equity and Venture Capital Valuation (IPEV) Board has published a review timeline for its Valuations Guidelines and issued a call for feedback with the deadline of January 28, 2022.

The Guidelines are reviewed and updated periodically by the IPEV Board to incorporate changes to accounting standards and to ensure they continue to reflect best practice when valuing investments. In 2020, the Board published guidance during the onset of the COVID-19 pandemic.

To provide feedback, contact the IPEV Board at contact@privateequityvaluation.com.

 

2021 DEAL CASE HIGHLIGHT LIGHTROCK | GENERAL WATER

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🏆 LAVCA's Seventh Annual Latin American Private Capital ESG Deal Awards awarded Lightrock a 2021 Environmental Responsibility Honorable Mention for their investment in General Water (GW).

GW addresses water scarcity in Brazil through the sustainable extraction of groundwater and recycling of wastewater. By providing alternative sources of water to corporate clients, GW reduces demand on public utilities and frees supply to cover the water needs of ~150,000 people annually.

Since Lightrock’s investment, GW has expanded into the Northeast region of Brazil and has created a centralized command center to reduce operational expenses and improve its response times. The company’s revenue has grown an average of 20% annually since 2017.

DOWNLOAD LAVCA's deal case featuring Lightrock's investment in General Water here.

VIEW the full list of winners of the Seventh Annual Latin American Private Capital ESG Deal Awards here

 

Latest Industry News

 
PRIVATE EQUITY NEWS

EMX 2021 Acquires EMX Capital's Portfolio

(EMX Capital) EMX 2021, a secondary fund recently created by EMX Capital, acquired the entire portfolio of companies from EMX Capital’s current funds. Read more

Advent-Backed CI&T Raises USD195m in NYSE IPO (em português)

(Terra) CI&T, a Brazil-based technology company backed by Advent International, raised USD195m in its IPO on the NYSE. Advent sold shares in a secondary sale. Read more

 

Earth Capital and Cypress Partner to Launch BRL750m Brazil PE Fund (em português)

(Valor Econômico) Earth Capital and Cypress agreed to form a partnership to launch a BRL750m private equity fund targeting ESG opportunities in Brazil. Read more

IG4 Capital Acquires 50% of Chile’s Adelco for USD57m

(IG4 Capital) IG4 Capital acquired 50% of Chile-based logistics operator Adelco for USD57m. Read more

 

Castlelake Completes Sale & Leaseback of Aircraft to Colombia’s Avianca

(Castlelake) Castlelake completed the sale and leaseback of six A330-200 freight aircraft to Colombian airline Avianca with a 10-year lease term. Read more

Aqua Capital Exits Grand Cru via Sale to Evino (em português)

(Valor Econômico) Aqua Capital exited Grand Cru, a Brazilian importer and distributor of premium wines, via a sale to Brazil-based wine e-commerce Evino for an undisclosed amount. Read more

 

Estapar Acquires TreeCorp-Backed Zul Digital for BRL75m (em português)

(Startupi) Brazil-based car park operator Estapar acquired TreeCorp Investimentos-backed Zul Digital, a Brazil-based parking management platform for public and private companies, for BRL75m. Read more

XP Acquires Gestão em Tecnologia da Informação

(Iberian Lawyer) XP acquired 100% of Gestão em Tecnologia da Informação (IGTI), a Brazilian distance learning college focused on technology and innovation, for an undisclosed amount. Read more

VENTURE CAPITAL NEWS

Tencent and SoftBank Lead USD200m Series F for Brazilian Trucking Marketplace CargoX

(LABS News) Tencent and SoftBank led a USD200m Series F for CargoX, a Brazilian trucking marketplace, with participation from Valor Capital Group and MFO Oikos, and follow-on from Lightrock, at an undisclosed valuation. Read more

GGV and GIC Lead USD125m Series C for Mexican Credit Card Issuer Stori

(Press Release) GGV and GIC led a USD125m Series C for Stori, a Mexican credit card issuer, with participation from General Catalyst, Goodwater Capital and Tresalia Capital, and follow-on from Lightspeed, Vision Plus Capital, BAI Capital and Source Code Capital. Read more

General Atlantic Leads USD125m Round for Brazilian Edtech isaac (em português)

(Brazil Journal) General Atlantic led a USD125m round for isaac, a Brazilian financial management platform for schools, with participation from SoftBank and KASZEK. Read more

 

Rage Capital and BTG Pactual Lead ~USD60m Series C for Brazilian Foodtech Fazenda Futuro

(TechCrunch) Rage Capital and BTG Pactual led a ~USD60m Series C for Fazenda Futuro, a Brazilian startup focused on plant-based meat alternatives, with participation from XP, and follow-on from monashees, Go4It Capital, MFO Turim and Enfini Ventures at a reported USD400m valuation. Read more

 

GIC Leads USD50m Series A for Brazilian Credit Issuance Platform QI Tech

(Press Release) GIC led a USD50m Series A for QI Tech, a Brazilian API-based credit issuance platform. Read more

Goodwater Capital Leads USD35m Series A for Chilean Proptech Houm

(TechCrunch) Goodwater Capital led a USD35m Series A for Houm, a Chilean home purchase and rental marketplace with operations in Chile, Mexico and Colombia, with participation from Fifth Wall, Fen Ventures, Broadhaven and Rahul Mehta (DST Global), and follow-on from ONEVC. Read more

 

Brazilian Mobile Platform RecargaPay Raises USD10m Series C+ (em português)

(Mobile Times) RecargaPay, a Brazilian mobile payments platform, raised a USD10m Series C+ from IDB Invest, IDC Ventures and Fuel Venture Capital. Read more

REAL ASSETS NEWS

3R Petroleum Raises BRL2.1b via Follow-On Offering (em português)

(Pipeline) Brazilian oil & gas company 3R Petroleum raised BRL2.1b in a follow-on offering, providing a partial exit for Starboard. 3R will reportedly use the proceeds to finance the acquisition of Polo Potiguar from Petrobras. Read more

 

Mubadala Acquires Brazil’s Metrô Rio and Metrô Barra

(Pipeline) Mubadala acquired Rio de Janeiro subway operators Metrô Rio and Metrô Barra in a deal valued at BRL1.8b (~USD335m). Read more

Ore Investments and Genesis Mining Invest in Brazilian Gold Project (em português)

(Notícias de Mineração Brasil) Ore Investments and Genesis Mining formed a joint venture to develop the Nazareno gold project in Minas Gerais, Brazil. Read more

Riverstone Holdings Launches VEMO

(Riverstone Holdings) Riverstone Holdings launched VEMO, a Mexican company committed to accelerating clean mobility in Mexico and Latin America. VEMO designs and implements customized solutions that combine charging infrastructure, clean mobility fleets and advanced monitoring technology. Read more

 

 
 
LAVCA & Industry Events
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WeXchange
Hosted by IDB Lab | December 1-2, 2021 | Virtual

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GPC Conference
Hosted by GPCA | April 4-6, 2022 | New York, NY

LAVCA Members receive a discount on select events. For information, contact Kaela Kennedy.
 
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Investment in Latin America
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