Latin American Private Capital Update - November 3, 2021|  | | 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. |
| 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 groundwater extraction and wastewater treatment solutions provider General Water (GW).
GW addresses the critical challenge of 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 approximately 150,000 people annually.
Since Lightrock’s investment, GW has expanded into the Northeast region of Brazil and has acquired additional industrial clients, including the Guarulhos Airport and Ford Motors. GW also created a centralized command center to reduce operational expenses and improve response times to operational problems. 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. | | |
| call for nominations women investors in latin america | | |
LAVCA is calling for nominations for its lists of Top Women Investors and Emerging Women Investors in Latin American Tech.
ACCESS the form to nominate senior-, mid- and junior-level female investment professionals on your radar committing capital to a PE, real assets or VC fund, or deploying capital from a fund, and women angel investors committing over USD50k to LatAm tech startups.
PARTICIPATE: Investors supporting gender diversity in the region, as well as female founders in STEM are invited to register for WeXchange 2021, taking place December 1-2. Details here. | | |
| 2022 CALL FOR SUBMISSION: LATIN AMERICAN PRIVATE CAPITAL DEAL CASES | | |
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In an effort to showcase best-in-class examples of private capital activity in Latin America, LAVCA is again collaborating with member investors to highlight portfolio company deal cases to our audience of global institutional and fund investors, as well as strategic and long-term investors active or interested in Latin America.
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 local community.
The deadline to submit a portfolio company for Award consideration is Nov. 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.
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Private Equity News
H.I.G. Capital Acquires Majority Stake in Peru’s Grupo Ransa (Private Equity Wire) H.I.G. Capital acquired a majority stake in Grupo Ransa, a third-party logistics company based in Peru. Read more
Actis Exits Brazil’s It'sSeg via Sale to Acrisure (Acrisure) Actis exited Brazil-based benefits management and insurance brokerage platform It’sSeg via a sale to US-based insurance brokerage Acrisure for an undisclosed amount. Read more Goldman Sachs Invests in Brazil’s Elea Digital (Press Release) Goldman Sachs made an undisclosed investment in Elea Digital, a Brazilian data center subsidiary of Piemonte Holdings. The transaction is subject to regulatory approval. Read more
SoftBank Increases Stake in Brazil’s Banco Inter (em português) (Neofeed) SoftBank increased its stake in Banco Inter, a publicly traded Brazilian digital bank, to 15.01% through the purchase of an additional 4.5 million shares for an undisclosed amount. Read more
FirstRock Private Equity Acquires Minority Stake in My Ocean (Jamaica Observer) FirstRock Private Equity agreed to acquire a 26% stake in Bahamas-based manufacturer and retailer My Ocean for an undisclosed amount. Read more L Catterton Leads Investment in Mexican D2C Eyewear Brand Ben & Frank (Press Release) L Catterton led an undisclosed investment for Ben & Frank, a Mexican D2C eyewear brand, with follow-on from Dila Capital. Read more
Mexican Lending Platform ProCredito Secures USD6m Private Credit Facility (Blue Earth Capital) ProCredito, a Mexican lending platform for SMEs, secured a USD6m private credit facility from Blue Earth Capital (formerly PG Impact Investments), a Swiss impact investment fund. Read more |
 Venture Capital News
SoftBank, Amazon and Accel Lead USD108m Series B for Brazilian Fintech Pismo (en español) (Press Release) SoftBank Latin America, Amazon and Accel led a USD108m Series B for Pismo, a Brazilian card issuer and digital banking platform for SMEs, with participation from Falabella Ventures, PruVen, B3, and follow-on from Redpoint eventures and Headline. Read more
SoftBank Leads USD75m Series C for Brazilian BPO Platform Pipefy (Press Release) SoftBank invested USD50m in a USD75m Series C for Pipefy, a Brazilian low-code BPO platform, with participation from Steadfast Capital, and follow-on from Redpoint eventures and Insight Partners. Read more
QED Investors and KASZEK Lead USD40m Series C for Brazilian Fintech Hash (TechCrunch) QED Investors and KASZEK led a USD40m Series C for Hash, a Brazilian payment services provider for non-financial companies looking to offer banking services, with participation from Endeavor Scale-Up Ventures. Read more
Ribbit Capital Leads ~USD35.8m Series A for Brazil’s Justos (TechCrunch) Justos, a Brazilian pre-launch car insurance platform, raised a ~USD35.8m Series A led by Ribbit Capital, with participation from SoftBank and GGV, and follow-on from KASZEK, BigBets and angels David Velez (Nubank) and Carlos Garcia (Kavak). Read more
Tiger Global Leads USD35m Series A for Argentine Fintech Pomelo (TechCrunch) Tiger Global led a USD35m Series A for Pomelo, an Argentine payments infrastructure platform enabling fintechs to fast-track the launch of prepaid and credit cards, with participation from monashees, Insight Partners, Index Ventures, SciFi, QED Investors, BoxGroup, Greyhound, Gilgamesh Ventures and Clocktower. Read more
Unbox Capital Leads USD30m Series B for Brazilian Marketing Platform Rock Content (em português) (Brazil Journal) Unbox Capital led a USD30m Series B for Rock Content, a Brazilian content marketing platform, with participation from BTG Pactual and Crescera Capital. Read more
DNA Capital, Temasek and Fit Participações Lead ~USD20m Round for Brazilian Healthtech Memed (LABS News) DNA Capital, Temasek and Fit Participacoes led a ~USD20m round extension for Memed, a Brazilian provider of digital drug prescriptions. Read more
Mexican Delivery Platform Skydropx Raised USD20m Series A from Cometa, Base10 Partners, 645 Ventures (TechCrunch) Skydropx, a Mexican shipping and delivery management platform for e-commerce brands, raised a USD20m Series A from Cometa, Base10 Partners and NY-based VC 645 Ventures. Read more
Anthos Capital Leads USD18m Series A for Venezuelan Delivery Platform Yummy (TechCrunch) US growth equity fund Anthos Capital led a USD18m Series A for Yummy, a San Francisco-based ridesharing and food delivery app with operations in Venezuela, with participation from JAM Fund, the VC fund of Tinder founder Justin Mateen. Read more
SP Ventures and Astella Investimentos Lead USD17m Series A for Brazilian Fintech Traive (em português) (Startupi) SP Ventures and Astella Investimentos led a USD17m Series A for Traive, a Brazilian lending platform for agricultural producers. Read more
Andreessen Horowitz and Base Partners Lead USD15m Series A for Colombian Foodtech Foodology (TechCrunch) Andreessen Horowitz and Base Partners led a USD15m Series A for Foodology, a Colombian foodtech leveraging the dark kitchen model to launch restaurant brands, with follow-on from Kayyak Ventures and Wollef (formerly Jaguar Ventures). Read more
Flourish Ventures and GFC Lead USD10m Series A for Brazilian Wholesale Marketplace Merce do Bairro (LABS News) Flourish Ventures and GFC led a USD10m Series A for Merce do Bairro, a Brazilian same-day delivery wholesale marketplace for SMEs, with follow-on from DOMO Invest, Alexia Ventures, Prana Capital, MAYA Capital, SV Latam, Quartz and Picus Capital. Read more
KASZEK Leads USD8m Round for Brazilian Car Documentation Platform Gringo (TechCrunch) KASZEK led a USD8m round for Gringo, a Brazilian car documentation management platform, with participation from GFC and ONEVC. Read more
Brazilian Wholesale Marketplace Inventa Raises ~USD6m Seed Round (em português) (Exame) Inventa, a Brazilian wholesale marketplace connecting regional wholesalers with local retailers, raised a ~USD6m seed round from NXTP, PearVC, ONEVC and MAYA Capital. Read more
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 Real Assets News
Actis Exits Brazil’s Echoenergia via Sale to Equatorial Energia for BRL6.65b (em português) (Brazil Journal) Actis exited Echoenergia, a Brazil-based developer of electricity generation projects from renewable energy sources, via a BRL6.65b sale to Equatorial Energia. Read more
Appian Exits Atlantic Nickel and Mineração Vale Verde via Sale to Sibanye-Stillwater for USD1b (Press Release) Appian Capital Advisory agreed to sell Brazilian battery metals-focused companies Atlantic Nickel and Mineração Vale Verde to Sibanye-Stillwater for USD1b and an additional 5% NSR royalty on production from the Santa Rita underground expansion. Read more
Vinci Partners Acquires Four Shopping Malls in Brazil for BRL659.5m
(Suno) Vinci Partners, through its Vinci Shopping Centers real estate fund, acquired stakes in four Ancar Ivanhoe shopping malls in Brazil for BRL659.5m. Read more Blue Macaw and Catuaí Asset Acquire Six Floors of the Pátio Malzoni Building for BRL365m (em português)
(Valor Econômico) Blue Macaw and Catuaí Asset acquired six floors of the Pátio Malzoni building in São Paulo, Brazil for BRL365m. Read more Susi Partners to Acquire Renewable Energy Assets in Chile
(Private Equity Wire) Susi Partners signed an agreement with BIWO Renovables and Latsolar Energy Investments to acquire a portfolio of distributed renewable energy assets in Chile for an undisclosed amount. Read more |
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| | INCmty
Hosted by INCmty | November 8, 2021 | Virtual
| | | AcelerAP Summit
Hosted by Pacific Alliance and USIL Ventures | November 9-10, 2021 | Virtual
| | | WeXchange
Hosted by IDB Lab | December 1-2, 2021 | Virtual
| | | GPC Conference
Hosted by GPCA | April 4-6, 2022 | New York, NY
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| 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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Mexican Lending Platform ProCredito Secures USD6m Private Credit Facility (Blue Earth Capital) ProCredito, a Mexican lending platform for SMEs, secured a USD6m private credit facility from Blue Earth Capital (formerly PG Impact Investments), a Swiss impact investment fund. Read more |
