LAVCA RESEARCH

LAVCA's 2024 Trends in Tech

A record number of early-stage startups are likely to begin fundraising in 2024 while investors focus on strengthening their current portfolio.  
 
More than 1,700 companies have raised seed and early-stage VC funding in Latin America since 2019, according to LAVCA data. With longer times to close financing, founders may be faced with stark choices depending on the current health of their business – raise new sources of dilutive capital in a potential down round, turn to venture debt, pursue a sale process, or wind down operations.

New Member-Only Data Portal

LAVCA Members can now access our new interactive data portal. Our quarterly reports will continue to be the best source for aggregate data, but this new portal will give LAVCA Members the option to filter and export publicly disclosed transaction-level data. 

If you are an active LAVCA Member and require assistance accessing the portal, please email contact@lavca.org with the names and email addresses of all the users who require access from your firm. Our team also remains available to fulfill custom research requests not included in our reports.

DEAL CASE

Lightrock | dr.consulta

In December 2017, Lightrock invested in dr.consulta, a Brazil-based clinic chain that provides comprehensive healthcare services, including routine medical appointments, exams and outpatient procedures across more than sixty specialties at an affordable cost.

With Lighrock’s support, the company launched secondary care offerings alongside the introduction of medical tests and diagnostics. Nearly 50% of dr.consulta’s patients are in the low-to-middle-class demographic. Therefore, the majority of their clinic facilities are strategically located near transport terminals, ensuring economically and physically accessible care. The success of the company’s model is evident from the patient satisfaction rate (NPS), which is approximately twice that of public hospitals in Brazil.

LAVCA AWARDS

Save the Date: 22 May 2024

Winners of the 2024 LAVCA ESG Deal Awards will be announced during an online ceremony on 22 May 2024 at 10am ET. The ceremony will take place virtually on LAVCA’s LinkedIn page. Additional details to come.

The 2024 LAVCA ESG Deal Awards received a record number of deal case submissions across asset classes, including private equity, VC/tech, private credit and real assets.

Winners will be chosen by a panel of institutional investors and awards will be conferred in six categories:

Private Capital Deal of the Year

Social Impact

Innovation

Environmental Responsibility

Gender and Diversity

Better Tech Award

Access the past winners of the LAVCA ESG Deal Awards here. The awards seek to showcase best-in-class examples of private capital activity in Latin America by recognizing deals with extraordinary ESG outcomes. Select deals also will be profiled in our regular case studies publications.

For questions, please email Marcelo Pizzato at mpizzato@lavca.org.

◼︎  BTG Pactual’s Warehouse investment fund won auctions for several power transmission projects in Brazil. One of the auctioned projects is lot 6, with an estimated investment of ~BRL3.4b (~USD682.4m) to build 951 Km of transmission lines between the States of Bahia and Minas Gerais. BTG Pactual also won bids for lots 4 and 14, with estimated investments of BRL1b (USD188.3m) and BRL2.1b (USD399.4m), respectively. #RealAssets

◼︎  Aqua Capital increased its stake in SoluBio, a Brazil-based on-farm biological solutions provider, for ~USD19.9m. Aqua is now the controlling shareholder. #PrivateEquity

◼︎  Patria Investments exited Natulab, a Brazil-based generic drug manufacturer, through a sale to Pettra, a Brazilian family office operating in the retail and consumer sectors. #PrivateEquity

◼︎  Valor Capital Group and Across Capital led a USD22.5m round at a reported USD120m pre-money valuation for Akad, a Brazil-based insurtech for contractors and SMEs, with participation from Endeavor Catalyst, Scale-Up Ventures and Actyus. #VC

◼︎  Crescera Capital invested in Avantia Tecnologia, a Brazil-based security solutions company. #PrivateEquity

◼︎  Spectra Investments agreed to invest BRL50m (~USD9.6m) in anchoring funds from OutField Ventures, a Brazil-based fund manager focused on sports and entertainment. Spectra is also acquiring a minority stake in the fund manager. #VC

◼︎  IFC and Victory Park Capital provided a USD30m loan to Habi, a Colombia-based residential real estate technology platform. #VC

LAVCA Week 2024

8-11 October 2024

New York, NY

Industry Events

MIT Sloan and HBS Latin American Business Conference

21 April 2024

MIT Kresge Auditorium

LAVCA RESEARCH