Latin American Private Capital Update - August 26, 2021Latin American Private Capital Update August 26, 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. |
| 📢 lavca week: EARLY BIRD ENDS TOMORROW | NEW SESSIONS | | |
The 2021 LAVCA Week program is a fully immersive experience with timely content, unique keynotes, panels, discussions and interactive networking opportunities.
Early bird rates expire on August 27! REGISTER NOW
Highlighted keynote sessions include:
> Keynote: Henry McVey, Head of the Global Macro and Asset Allocation, KKR on the Global Macro Trends & Implications for Latin America
> Keynote Interview: Edwin N. Conway, Global Head, BlackRock Alternative Investors and Fadile Herrera, Head of Alternative Investments, Principal Financial Group on Insights on the Future of the Private Capital Industry
Featured breakout sessions include:
> Startup CEOs:
Loreanne Garcia, Co-Founder, Kavak
Florian Hagenbuch, Founder & Co-CEO, Loft
Brian Requarth, Chairman, Grupo ZAP, Co-Founder, Latitud
| > A Blockbuster Year for Exits:
Priscila Rodrigues, Managing Partner, Crescera Capital
Mauricio Salgar, Managing Director, Advent International
Federico Antoni, Managing Partner, ALLVP
Eric Acher, Founding Partner, monashees
| > Meeting Demand in the Education Sector:
Eduardo Parente, CEO, YDUQS
Pat Burtis, Partner, Amadeus Capital Partners
Jean-Bernard Ide, Partner, Linzor Capital
| > Meeting Demand in the Education Sector:
Eduardo Parente, CEO, YDUQS
Pat Burtis, Partner, Amadeus Capital Partners
Jean-Bernard Ide, Partner, Linzor Capital
| > The Next Wave of Real Estate Investing & Proptech
Gregorio Schneider, Founding Partner, TC Latam Partners
Brynne McNulty Rojas, Co-Founder and CEO, Habi
Laura Costantini, Partner, Astella Investimentos
Elizabeth Bell, Principal, Jaguar Growth Partners
| > What's Next for Corporate Venture in Latin America Mariano Amartino, Americas Managing Director, Microsoft for Startups
Michel Glezer, Director, Qualcomm Ventures
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Participation is open to LAVCA members, non-member private capital investors and qualified institutional investors.
Access the agenda at a glance (topics and timing subject to change).
Access more information on LAVCA Week and/or contact LAVCA's Director of Events Kaela Kennedy with any questions. | | |
| The Sustainable Finance Disclosure Regulation (SFDR) went into effect in Europe in March 2020, creating important new requirements for fund managers seeking to raise capital on the continent, as well as for ESG reporting.
The webcast will take place on Thursday, September 9, 2021 at 9:00am ET.
In this timely session, we will explore:
• Key elements of the SFDR, and how funds have been managing the new requirements
• The impact of the reporting for fund managers in Asia, Latin America, Africa, CEE and the Middle East
• Expected changes in ESG reporting • How ESG reporting may evolve beyond Europe
Featured speakers:
> Phil Davis, Director of ESG, Helios Investment Partners
> Jin-Hyuk Jang, International Counsel, Debevoise & Plimpton
> Patricia Volhard, Partner, Debevoise & Plimpton
REGISTER here. Complimentary access for LAVCA member GPs and FoFs. Non-member GPs & FoFs pay USD375.
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| We are only halfway through 2021 and Latin American VC has already set another record.
LAVCA estimates at least USD6.2b in VC investments for 1H 2021, blowing 2019’s record (USD4.6b) out of the water. Stay tuned for the official numbers release next week.
VIEW LAVCA’s full list of 19 startups (recently NotCo) with unicorn valuations in Latin America.
It’s not just Latin America; Africa and the Middle East are also on track for record venture investment in 2021, according to data from the Global Private Capital Association (GPCA).
Top 10 Announced Deals:
LAVCA members can email research@lavca.org for more details on our 1H 2021 VC estimate. | | |
| ILPA has opened for public comment a revised version of the ILPA Due Diligence Questionnaire. The ILPA DDQ was created to help LPs and GPs operate more efficiently and effectively by standardizing the most frequent and important diligence questions posed by investors. ILPA is also seeking public comment on a revised ILPA Diversity Metrics Template.
You may visit ILPA's website to view the revised ILPA DDQ and ILPA Diversity Metrics Template. Feedback can be submitted through the ILPA DDQ Feedback Submission form – please be sure to follow the feedback instructions provided on the front page of the ILPA DDQ. Questions may be directed to DDQFeedback@ilpa.org. All feedback must be submitted by September 24, 2021. | | |
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Private Equity News
HIG Capital-Backed Kora Saúde Raises BRL769.9m in IPO (em português) (Press Release) HIG Capital-backed Kora Saúde, a Brazilian hospital chain, raised BRL769.9m in its IPO on the B3. Capital was raised via a restricted offering. Read more
2bCapital-backed WDC Networks Raises BRL450.1m via IPO (Press Release) 2bCapital-backed WDC Networks (Livetech da Bahia Indústria e Comércio), a Brazilian distributor of information technology, telecommunication and solar energy solutions, raised BRL450.1m in its IPO on the B3. Read more
H.I.G.-Backed Viveo Raises BRL2.25b in IPO (em português) (Press Release) Viveo, a Brazil-based distributor of medicines and medical supplies backed by H.I.G. Capital, raised BRL2.25b in its IPO on the B3. Siguler Guff, Dynamo, GIC, Brasil Capital and Equitas Capital took stakes in Viveo through a restricted offering. Read more
Lojas Americanas to Acquire Partners Group-Backed Hortifruti for BRL2.1b (Press Release) Brazilian retailer Lojas Americanas agreed to acquire Brazilian grocery chain Hortifruti Natural da Terra for BRL2.1b (~USD402m). Read more
Jive Investments Leads ~USD20m Round for Brazilian Real Estate Financing Marketplace inGaia (em português) (NeoFeed) Brazilian distressed asset platform Jive Investments led a ~USD20m round for inGaia, a Brazilian real estate financing marketplace and CRM platform for brokers. Read more
Patria Sells Stake in Alliar to Nelson Tanure
(Yahoo) Patria Investments announced an agreement for the full divestment of Centro de Imagem Diagnosticos (Alliar), a Brazil-based provider of healthcare services, to businessman Nelson Tanure. The transaction encompasses the sale of 25,012,323 common shares of Alliar, which corresponds to the total interest held by Patria. Read more EB Capital's EB Fibra Acquires Vip Br Telecom (em português) (pontoisp) EB Capital, through its telecom infra arm EB Fibra, acquired Vip Br Telecom, a Brazil-based telecommunications provider, for an undisclosed amount. Read more
Vinci Partners Acquires a 40.9% Stake in Transpotech (Press Release) Vinci Partners, through Vinci Impacto e Retorno IV, acquired a 40.9% stake in Transpotech, a Brazilian company operating in the B2B services sector. Read more |
 Venture Capital News
Tiger Global and Insight Partners Lead USD500m Round for E-Commerce Platform Tiendanube (Tech Crunch) Tiger Global and Insight Partners led a USD500m round for Tiendanube/Nuvemshop, an Argentine e-commerce platform with operations in Brazil and Mexico, with participation from Sunley House Capital, VMG Partners, Alekon and Owl Rock, and follow-on from KASZEK, Qualcomm Ventures, Accel, ThornTree Capital and angel Kevin Efrusy (Accel), at a reported USD3.1b valuation. Read more
Softbank and Tencent Lead USD350m Series D for Argentine Fintech Ualá (Bloomberg) SoftBank and Tencent led a USD350m Series D for Argentine fintech Ualá, with participation from D1 Capital, 166 2nd LLC and Jacqueline Reses (Square), and follow-on from Soros Management, Goldman Sachs, Ribbit Capital and monashees, at a reported USD2.45b valuation. Read more
Greenoaks and Tencent Lead USD120m Series E+ for Brazilian Proptech QuintoAndar (LABS News) Greenoaks and Tencent led a USD120m Series E+ for Brazilian proptech QuintoAndar at a reported USD5.1b valuation. Ribbit Capital led a USD300m Series E in May at a reported USD4b valuation; SoftBank led a USD250m Series D in 2019; General Atlantic led a ~USD50m Series C in 2018. Read more
Valor Capital Group and Prosus Ventures Lead USD104m Series B for Brazilian Rental Car Platform Kovi (TechCrunch) Valor Capital Group and Prosus Ventures led a USD104m Series B for Kovi, a Brazilian subscription-based rental car platform for on-demand drivers, with participation from monashees, GFC, Quona Capital, Broadhaven Ventures, GFC, Norte Ventures, MAYA Capital, PIPO and Globo Ventures. Kovi recently closed a USD20m credit facility. Angels Justin Mateen (Tinder) and Peter Thiel (PayPal) also participated. Read more
Mercado Libre Acquires 1.25% Stake in Social Media Content Broker Aleph Group (en español (La Nacion) Mercado Libre acquired a 1.25% stake in Aleph Group, a Miami- and Argentina-based content broker for social media platforms, for USD25m. Read more
Alexia Ventures and Igah Ventures Lead USD10.3m Series A for Brazilian Trade Platform LogComex (LABS News) Alexia Ventures and Igah Ventures led a USD10.3m Series A for LogComex, a Brazilian international trade management platform, with participation from Endeavor Scale Up Ventures, and follow-on from Invest Tech and Caravela Capital. Read more
Sofinnova Partners Leads USD10 Series A for Chilean Biotech Protera (en español) (La Tercera) Sofinnova Partners led a USD10m Series A for Protera, a Chilean biotech developing a protein to naturally extend food shelf-life, with participation from Grupo Bimbo and ICL Planet. Sofinnova led a USD5.6m round in 2020. Read more
HiPartners and HIX Capital Invest ~USD10m in Brazilian Fintech F360 (em português) (Startupi) Brazilian PE HiPartners and late stage investor HIX Capital invested ~USD10m in F360, a Brazilian finance management platform for SMEs. Read more
SBPar Invests ~USD10m in Brazilian Healthtech Salux (em português) (Startupi) SBPar invested ~USD10m in Salux, a Brazilian operations management platform for hospitals and clinics. Read more
Kayyak Ventures Leads USD7m Series A for Chilean RFP Platform wherEX (Press Release) Kayyak Ventures led a USD7m Series A for wherEX, a Chilean RFP platform for sourcing industrial materials and services , with participation from Jaguar Ventures, FJ Labs and Tuesday Capital. Read more
Mexican On-Demand Grocery Delivery Platform Orchata Raised USD4m Seed Round (TechCrunch) Orchata, a Mexican on-demand grocery delivery platform operating its own microfulfillment centers, raised a USD4m seed round from YC, JAM Fund, FJ Labs, Venture Friends, Investo and Foundation Capital. Read more
X8 Investimentos Invests ~USD3.6m in Brazilian Foodtech Vida Veg (em português) (Exame) Brazilian growth equity fund X8 Investimentos invested ~USD3.6m in Vida Veg, a Brazilian plant-based meat and dairy producer. Read more
Alexia Ventures Leads ~USD3.4m Round for Brazilian Edtech HeroSpark (em português) (Startupi) Alexia Ventures led a ~USD3.4m round for HeroSpark, a Brazilian education platform for freelancers selling digital-first products. Read more
KASZEK Leads USD3m Round for Argentine DeFi Platform Exactly (CoinDesk) KASZEK led USD3m round for Exactly, an Argentine decentralized finance platform building a credit protocol on Ethereum, with participation from NXTP, Sur Ventures, 6th Man Ventures, Maker Growth, Baires DAO, 11-11 DG Partners and Newtopia VC. Read more
SP Ventures Invests ~USD2.7m in Venture Debt in E-Commerce Solutions Platform Digibee (em português) (Startupi) SP Ventures invested ~USD2.7m in venture debt in Digibee, an e-commerce digital integration manager for SMEs. Read more
GNDI Leads ~USD2m Round for Brazilian Healthtech NeuralMed (em português) (Baguette) Grupo NotreDame Intermedica led a ~USD2m round for NeuralMed , a Brazilian medical record analysis platform for hospitals, with follow-on from IDB, Alexia Ventures, Norte Ventures and MG Tech Invest. Read more
Astella Investimentos Invests ~USD1.6m in Brazilian Healthtech Kompa Saúde (em português) (Startupi) Astella Investimentos invested ~USD1.6m in Kompa Saúde (formerly Assina Saúde), a digital healthcare platform providing virtual nursing services for low-income Brazilians. Read more
Brazilian Technology Education Platform Sirius Education Raises ~USD1m (em português) (LABS News) Sirius Education, a Brazilian six-month tech training program for tech professionals, raised ~USD1m from Garan Ventures and angels Camila Farani (G2 Capital), Rodrigo Cartacho (Sympla), Joao Selarin (Zenvia) and Gustavo do Valle (Decorated). Read more
Citrino Invests ~USD1m in Round Extension for Brazilian Industrial Management Platform Tractian (em português) (Mergers & Acquisitions) MFO Citrino invested ~USD1m in a round extension for Tractian, a Brazilian industrial equipment maintenance management platform. Read more
Canary Invests in Brazilian Accounts Receivables Financing Platform Marvin (em português) (Startupi) Canary invested in Marvin, a Brazilian account receivables-based financing platform. Read more |
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 Real Assets News
Actis Sells Saavi Energia to Global Infrastructure Partners (Press Release) Actis sold 100% of Saavi Energía, an independent power producer in Mexico, to Global Infrastructure Partners for an undisclosed amount. Read more
Mubadala and Magni Partners Receive Approval by CADE to Acquire Four Drilling Rigs from Sete Brasil (em português) (Mergers & Acquisitions) The General Superintendence of the Administrative Council for Economic Defense (CADE) approved the acquisition by Mubadala Investment Company Magni Partners, a Bermuda based financial services company, four drilling rigs are owned by Sete Brasil. Read more
GLP Reaches BRL2.6b Final Close for Brazil Development Fund
(GLP) GLP reached a BRL2.6b final close for its GLP Brazil Development Partners II, a logistics-focused vehicle that will develop nine Class-A logistics parks in São Paulo submarkets. Read more Mexico Infrastructure Partners Raises ~MXN22b via Fibra E (en español) (El Economista) Mexico Infrastructure Partners, an investment fund manager specialized in infrastructure and energy sectors, issued its first investment trust in energy and infrastructure (Fibra E) in the Mexican Stock Exchange and obtained capital for a total of ~MXN22.1b. Read more |
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| LAVCA Members receive a discount on select events. For information, contact Kaela Kennedy. |
The Association for Private Capital
Investment in Latin America
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New York, NY 10018
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