Thank you to the LAVCA Members and broader investor community from Latin America and around the globe who participated in LAVCA Week 2023 in New York on 10-13 October and helped make it a success.  

Save the date for LAVCA Week 2024, taking place on 8-10 October 2024 in New York City. We look forward to seeing you again next year! 

Please find photos from LAVCA Week 2023 below as well as the reports and briefs discussed during the conference, including LAVCA Latin America Tech Data Insights 2023, which references LAVCA data presented at LAVCA Week 2023.

10th LAVCA ESG Deal Awards
Nominations opening soon

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 for our audience of global institutional and fund investors, as well as strategic and long-term investors active or interested in Latin America.  

For questions regarding the nominations, please contact Marcelo Pizzato at mpizzato@lavca.org.

Deal Case Highlight
Ashmore | Elecnorte

In September 2018, Ashmore invested in Elecnorte, a Colombia-based company that has been awarded a 25-year concession that includes the design, construction, operation and maintenance of two electric power transmission lines and substations in the Caribbean region of La Guajira, in the northern part of Colombia.

Ashmore's involvement in the Electrical Reinforcement of La Guajira 110Kv concession in Colombia improved energy access in a region marked by income inequality. The project increased energy transportation capacity, reduced power cuts, and benefited over 700,000 users while creating jobs and supporting environmental and social initiatives. Importantly, it lays the groundwork for future renewable energy projects, contributing to energy diversification in the region.

◼︎ Appian Capital reached a USD2.06b final close for its third fund focused on mining and mining-related companies in countries with proven geology, supportive governments and a robust legal framework where Appian has existing operations or experience in operating. #PE

◼︎ Mubadala Capital reached a USD710m close for its second Brazil-focused fund. The vehicle will focus on mature companies that are facing some form of complexity or distress, but where the underlying business fundamentals are compelling. #PE

◼︎ Yellowstone Capital Partners reached a USD475m first close for Yellowstone Flagship Opportunity Fund IV. The real estate fund will invest in developing sustainable communities through large-scale residential projects and mixed-use assets in Colombia. #RealAssets

◼︎ Pátria Investimentos acquired a 56% stake in Brazil-based wholesaler Atakarejo. #PE

◼︎ BlueOak reached a BRL250m (~USD49.4m) first close for its first special situations fund focused on infrastructure, utilities, commodities, services and consumer goods sectors in Brazil. #PrivateCredit

◼︎ Valor Capital Group led a USD30m Series C for Gringo, a Brazilian car documentation management platform, with follow-on from Kaszek Ventures, ONEVC and VEF. VEF led a ~USD38m Series B in March 2022; KASZEK led a USD8m round in November 2021. #VC

◼︎ Valor Capital Group led a USD20m Series B for Nexu, a Mexican car financing platform. Nexu raised a USD50m Series A in January 2022. #VC

◼︎ KASZEK led a USD16.5m round for Bia, a Colombian real-time energy consumption analytics platform for SMEs with participation from Ewa Capital, WildSur, and follow-on from Nazca. Canary led a USD6m pre-seed round in July 2022. #VC

◼︎ KASZEK led a USD13m round for Cobre, a Colombian corporate treasury management platform. QED Investors and Atlantico Partners led a USD14m Series A round in February 2022. #VC

◼︎ IFCinvested in CantuStore, a Brazil-based omnichannel aftermarket tire retailer and distributor backed by L Catterton. #PE

◼︎ Pátria Investimentos agreed to acquireAbrdn’s European-headquartered private equity unit. #PE

◼︎ Claure Group acquired a significant stake in Brazil-based investment firm eB Capital. #PE

Brazil NbS Investment Opportunity Roadshow

10-13 November 2023

São Paulo, Brazil

Contact partnership@gpcapital.org for registration information. 

LAVCA RESEARCH