Latin American Private Capital Update - December 8, 2020Latin American Private Capital Update December 8, 2020 |  | | 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. |
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Women investors in early-stage tech are underrepresented in Latin America as they are globally. The lack of diverse representation among decision-makers has ramifications for entrepreneurs, as well; startups with global women co-founders captured only about 12% of VC funding in 2019, and that appears to have declined during the C19 pandemic. In Latin America, it was about the same, with 13% of disclosed VC funding going to women-led startups in 2019, according to LAVCA Data.
In an effort to raise the visibility of women investing in early and growth stage tech in Latin America, LAVCA has published updated annual lists of the ♀️ Top Women Investing in Latin American Tech, and ⭐ Emerging Women Investors in Latin American Tech.
The 102 investors represented on the Top Women list and the 96 investors represented on the Emerging Women list in 2020 represents a 15% and 10% increase, respectively, over 2019.
In 2020, a number of notable VC firms in the region added their first woman partner, including Mariana Donangelo (KaszeK Ventures), Carolina Strobel (Redpoint eventures), Claire Diaz-Ortiz (Magma Partners), Valentina Terranova (Draper Cygnus), and Ariadne Caballero (SP Ventures). In addition, Microsoft appointed Marcella Ceva to head WE Ventures, a fund it launched in 2020 to back women entrepreneurs in Brazil.
Finally, two women from the previous year’s Emerging Women Investors list were promoted to senior roles - Adelina Dasso (Accion), and Livia Brando (Wayra), and have graduated to the 2020 Top Women list.
👀 VIEW the Top Women Directory.
👀 VIEW the Emerging Women List.
LAVCA’s gender diversity content is made possible with support from IDB Lab, Member of the IDB Group.
ℹ️ More profiles of leading female founders and investors available at LAVCA.ORG/WOMEN
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LAVCA’s VC+tech members represent the leading early stage and tech investors active in Latin America and around the globe. Members play a pivotal role in the growth of the venture ecosystem and industry throughout the region.
NEW: Access LAVCA's updated VC directory of member firms investing in VC/tech in Latin America, including details on sector, stage, geo preferences, and more.
This digital directory profiles the core group of LAVCA member venture investors, corporates, and tech organizations dedicated to supporting startups and the tech ecosystem in Latin America.
LAVCA members are qualified investors and professionals in the Latin America private capital industry and are approved by the LAVCA Board on the basis of industry relevance, peer references, and investment activity. Latin American Tech Growth Coalition members are leading global and Latin American tech companies and investors with a common goal of advancing high growth startups in Latin America.
Access further information about The Latin American Tech Growth Coalition and other relevant tech-related lists and directories.
To APPLY for LAVCA Membership, please submit an application here. | | |
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READ the latest deal case featuring Aqua Capital's investment in Brazil-based agribusiness/animal feed additives company Yes Synergy.
Antibiotics have been widely used in agriculture to enhance animal productivity since the 1950s, but their excessive use has exacerbated the rise of antibiotic-resistant germs in humans. In turn, the use of antibiotics for non-medical purposes has increasingly come under scrutiny in the last two decades.
Yes produces a low-cost alternative to antibiotics and, as more countries are taking measures to restrict the use of antibiotics in agriculture, Yes is well positioned to continue developing its antibiotic-free additives and expand into new markets.
Aqua Capital invested US$29.4 million for a 73.7% stake in Yes in April 2016 to support research and development as a key driver of growth and innovation, decrease the company’s supplier concentration and mitigate other potential risks along its supply chain, and expand to markets outside of Latin America.
DOWNLOAD the full deal case here.
LAST CHANCE TO SUBMIT A DEAL LAVCA members have until December 31 to submit a deal for the Latin American Private Capital Awards. New in 2020-21 LAVCA is seeking special deals to highlight all asset classes including private equity, infrastructure, real estate, and venture capital/tech, with special consideration for deals that showcase community support during the global pandemic.
Complete the online submission form. A PDF submission form can be sent to fund managers upon request.
LPs and service providers can also nominate deals using this SHORT FORM.
THE DEADLINE TO SUBMIT A DEAL IS DECEMBER 31, 2020.
ACCESS past case studies here. Questions can be directed to Catalina Santos. | | |
| 📢 Capria is seeking a highly analytical investment professional to join Capria’s investment team to analyze and support direct investments. The Investment Fellow participates in the full investment lifecycle including screening companies, executing investment transactions, and portfolio management and monitoring.
The Investment Fellow will be managed by Capria’s Co-Investment Director and work closely with Capria Partners, Directors, and other team members.
APPLY or access more details about the position and the fellowship here. | | |
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Private Equity News
H.I.G. Capital Acquires Brazilian Internet Service Provider Desktop Sigmanet (Press Release) H.I.G. Capital has acquired Brazil-based internet service provider Desktop Sigmanet for an undisclosed amount. Read more
PC Capital and Altum Capital Complete Undisclosed Investment in Medios Cattri (Press Release) Mexican private equity firm PC Capital and Mexican private credit fund Altum Capital invested in Medios Cattri, a Mexico-based digital advertising company. The amount of the transaction was undisclosed. Read more
Crescera and Vulcan Acquire Minority Stake in Brazilian Fintech Nelogica for US$103m (em português) (Baguete) Crescera Capital and Vulcan Capital have acquired a minority stake in a Brazil-based fintech Nelogica for R$550m (approximately US$103m) at a reported valuation of R$2.9b (approximately US$542m). Read more
Emerald Peak Appoints Lauren Burnhill as Managing Partner and Launches US$150m LatAm Fund (Press Release) Emerald Peak Private Equity appointed Lauren Burnhill as a Managing Partner and launched its US$150m flagship America Impact Fund I, targeting opportunities in sectors that can best impact specific United Nations SDGs: agribusiness, clean energy/cleantech, healthcare/healthtech, and fintech. Read more
Bain Capital to Exit Notre Dame Intermedica for R$2.8b in Follow-on Offering (em português) (Trade Map) Bain Capital plans to sell 40m shares in Brazilian medical conglomerate Notre Dame Intermedica for around R$2.8b in a follow-on a offering. Read more
Kinea Acquires Minority stake in Verzani & Sandrini for R$150m (em português) (Clipping Medialink) Kinea, the alternative asset management subsidiary of Brazil-based financial services group Itaú, acquired a minority stake in Brazilian security, maintenance, and facilities management company Verzani & Sandrini, for R$150m. Read more
Toesca Raises US$310m for Toesca Deuda Privada DIP LATAM Fund (Leaders League) Chilean private equity and asset management group Toesca has closed on US$310m for Toesca Deuda Privada DIP LATAM Fund, aimed to financing the restructuring of Chile-based regional carrier LATAM Airlines. In May, the airline filed for Chapter 11 bankruptcy protection amid COVID-19-induced slump in air travel demand. Read more
InfraBrasil FIP and FIP Caixa Ambiental Exit Renova Energia via Sale to Spectra (em português) (Investing.com) InfraBrasil Fundo de Investimento em Participações and Fundo de Investimento em Participações Caixa Ambiental exited Renova Energia via a sale to Spectra Volpi Fundo de Investimento. With this deal, Spectra will own a ~12% stake in Renova. Read more
Titan Venture Capital Acquires Data Center Unit Oi for R$325m (Nasdaq) Titan Venture Capital, a private equity vehicle of Brazilian investment fund Piemonte Holding, acquired Brazil-based data center telecom unit Oi, for R$325m. Oi plans to use the sale proceeds to help exit bankruptcy protection. Read more
XP Private Equity Acquires Minority Stake in Brazilian Digital Skincare Brand Beyoung for R$140m (em português) (Brazil Journal) XP Private Equity has acquired a minority stake in Brazil-based digital skincare and make-up brand Beyoung for R$140m (approximately US$26m). Read more
Relay Investments-backed Colca Capital Acquires Polysistemas (Press Release) Perú-based investment firm Colca Capital, backed by Relay Investments, has completed the acquisition of Polysistemas, a Perú-based record and information management solutions company. Read more
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 Venture Capital News
Flourish Ventures, Mountain Nazca, Valar Ventures, and Greyhound Capital Invest US$45m in albo (TechCrunch) Flourish Ventures, Mountain Nazca, Valar Ventures, and Greyhound Capital invested US$45m in Mexico-based digital bank albo. Read more
Riverwood Capital Invests US$32m in Brazilian Freight Management Intelipost (Press Release) Riverwood Capital invested US$32m in Intelipost, a Brazilian freight management startup for omnichannel ecommerce deliveries. Intelipost also acquired AgileProcess, a Brazilian routing optimization platform. Read more
Peninsula Participações and Endeavor Catalyst Lead US$10m Series B in Brazilian Healthtech Hilab (em português) (Brazil Journal) Peninsula Participações and Endeavor Catalyst led a US$10m Series B in Hilab (formerly Hi Technologies), a Brazilian manufacturer of portable blood test devices. The round implies a R$300m post-money valuation for Hilab, according to Brazil Journal. Read more
ONEVC Leads US$2.7m Round in Brazilian Agtech TerraMagna (Crunchbase) ONEVC led a US$2.7m round in TerraMagna, a Brazilian agtech platform providing working capital for farmers, with participation from MAYA Capital and Accion Venture Lab, and angels Patrick Sigrist (iFood), Fernando Gadotti (DogHero), Lincoln Ando (idwall), and Allan Kahimoto (Delivery Direct). Read more
Clout Capital Leads US$2.55m Series A in Quantum Talent (en español) (Press Release) Clout Capital led a US$2.55m Series A in Quantum Talent, a Peruvian HR SaaS platform focused on increasing employee productivity. Angel Ventures led a US$660k round in 2019. Read more
KaszeK Ventures, Global Founders Capital, and Iporanga Ventures Invest US$2.5m in Legiti (em português) (Brazil Journal) KaszeK Ventures, Global Founders Capital, and Iporanga Ventures invested US$2.5m in Legiti, a Brazilian cybersecurity startup developing predictive models for preventing ecommerce fraud. Legiti is founded by former Palantir employee Pedro Sanzovo. Read more
The Craftory Leads US$1.8m Round in Brazilian Carbon Credit Marketplace Moss (em português) (Valor Econômico) The Craftory led a US$1.8m round in Moss, a Brazilian blockchain-based marketplace for companies to trade carbon credits. Read more
Mountain Nazca Leads US$1.7m Round in Mexican Personal Finance Startup Heru (Press Release) Mountain Nazca led a US$1.7m round in Heru, a Mexican personal finance and fiscal management platform for independent workers, with participation from Flourish Ventures, Magma Partners, YC, and Xtraordinary Venture Partners. Read more
Accion Venture Lab, Emles Venture Partners, and Noveus VC Invest US$1.5m in Henry (TechCrunch) Accion Venture Lab, Emles Venture Partners, and Noveus VC invested US$1.5m in Henry, an Argentine on-demand coding program enabling students to cover their tuition costs through an Income Share Agreement (ISA). Henry was selected to participate in the YC S20 batch alongside ten other Latin American startups. Read more |
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 Real Assets News
Digital Colony-Backed Highline to Acquire Brazilian Telecom Infrastructure Provider Phoenix Tower from Blackstone (Press Release) Digital Colony-backed Highline do Brasil has agreed to acquire Phoenix Tower do Brasil, a Brazil-based telecommunications infrastructure provider, from Blackstone. Equity financing for the transaction was provided by Digital Colony. Details of the transaction were not disclosed. Read more
SURA and Credicorp Launch Second Infrastructure Debt Fund with ~US$574m target (en español) (Press Release) SURA Investment Management and Credicorp Capital Asset Management, together called Unión para la Infraestructura S.A.C (UPI), launched a second infrastructure debt fund with a COP$1.5-2t (approximately US$574m) target. Read more
Actis Exits Mexican Renewable Energy Company Zuma Energía to China’s SPIC (Bloomberg Green) China’s State Power Investment Corp., through its Hong Kong-based unit China Power International Holding Limited, has acquired Mexico-based renewable energy company Zuma Energía from Actis for an undisclosed amount. Read more
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| LAVCA Members receive a discount on select events. For information on member discounts, contact Catalina Santos. |
The Association for Private Capital
Investment in Latin America
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New York, NY 10018
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