Latin American Private Capital Update

Latin American Private Capital Update - December 16, 2021

December 16, 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 MEMBER ACCESS

LATAM VENTURE BULLETIN

Latest Industry Headlines

Private Equity News

SAVE THE DATE: LAVCA WEEK 2022

SAVE THE DATE

Save the date for LAVCA Week 2022 taking place in person on October 12-14 at the Conrad New York Downtown in New York City.

The 2022 conference will convene LAVCA’s unparalleled network of private capital investors from across Latin America, the US, Asia and other global markets for a highly interactive experience, including networking and discussions on the latest trends in private equity, venture capital and other private capital strategies.

Participation is open to LAVCA members, non-member private capital investors and qualified institutional investors.

2021 DEAL CASE HIGHLIGHT: LINZOR CAPITAL PARTNERS | MUNDO

DOWNLOAD

🏆 LAVCA's Seventh Annual Latin American Private Capital ESG Deal Awards awarded Linzor Capital Partners a 2021 Social Responsibility Award for their investment in Mundo, a Chile-based fiber-to-the-home network provider.

Mundo’s low-cost fiber optic broadband services increase the accessibility of fast and reliable internet connections for underserved populations. The company’s services are priced 15-20% below its peers which has pressured large telecom operators to upgrade their technologies and reduce prices.

Since Linzor’s investment in 2019, Mundo has implemented an ambitious fiber deployment plan and nearly tripled the size of its network, reaching 2.8 million homes and 624,000 subscribers

DOWNLOAD LAVCA's deal case featuring Linzor Capital Partners‘ investment in Mundo here.

VIEW the full list of winners of the Seventh Annual Latin American Private Capital ESG Deal Awards here.

LAVCA: TOP/EMERGING WOMEN INVESTORS

VIEW LISTS

Women in venture are as underrepresented in Latin America as they are globally. In the US, women only hold ~15% of GP positions in VC, and the majority of firms have no women partners; in other markets, reliable benchmarks for comparison are harder to come by.

In an effort to raise the visibility of women in venture, LAVCA published an updated annual list of the Top Women Investors in Latin American Tech, and our fourth annual list of Emerging Women Investors in Latin American Tech.

The 117 investors featured in the Top Women list and the 115 investors featured in the Emerging Women list in 2021 represent a 15% and 21% increase, respectively, over 2020.

LAVCA’s gender diversity content is made possible with support from IDB Lab, Member of the IDB Group. This year’s lists were composed in collaboration with WeInvest Latam.

VIEW LAVCA’s 2021 list of 117 Top Women Investors in Latin American Tech.
VIEW LAVCA’s 2021 list of 115 Emerging Women Investors in Latin American Tech.

LAVCA Welcomes 31 NEW MEMBERS

In 2021, LAVCA was pleased to welcome 31 new members to the association.

LAVCA+ Members

Full Members
Agricultural Land Corporation	Inversiones El Trueno
Alexia Ventures	Krealo
Bamboo Capital Partners	LGT Capital Partners
Capital SAFI	Gramercy Funds Management
Continental Grain Company	ONEVC
DGF Investimentos	PayPal Holdings
Finnovista	SP Ventures
Globant	Talipot Holdings
Imaginable Futures Fund	U.S. International Development Finance Corporation
Indicator Capital	Volpe Capital

Associate Members
Colombia Fintech	State Street Bank & Trust
CrossBoundary Group	TozziniFreire Advogados
Japan External Trade Organization (JETRO)	Victorian Government Trade and Investment Office for Latin America
MUFG Union Bank,	Wilson Sonsini Goodrich & Rosati
Pellecchia International

This is the final edition of the Private Capital Update in 2021. We will resume regular frequency in 2022 after a brief break over the holidays.

Latest Industry News

PRIVATE EQUITY NEWS

Selina to Go Public via USD1.2b SPAC Merger

(Bloomberg) Selina, a UK-based hotel platform with operations in Portugal, Mexico, Costa Rica, Colombia, Panama and Brazil, will go public via a USD1.2b SPAC merger with BOA Acquisition Corp. The transaction includes a USD70m PIPE from South Light Capital, MORE Investment House and Ronald Cohen (Apax Partners). Read more

Oaktree Capital Management to Provide USD750m in Debt Financing for LATAM Airlines

(Global Legal Chronicles) Oaktree Capital Management agreed to invest up to USD750m in debt financing for LATAM Airlines. This financing will be in addition to the A and C financing tranches agreed in 2020. Read more

Kandeo Partners with Colombia’s Clave

(Clave) Kandeo Asset Management agreed to partner with Clave, a fintech consumer lending platform active in Latin America, to expand digital consumer lending in Colombia. Read more

IDB Invest Provides USD10m Loan Facility to Portland Caribbean Fund II

(IDB Invest) IDB Invest provided a USD10m loan facility to Portland Caribbean Fund II, a multi-sector growth fund that targets middle market companies in the Caribbean region. Read more

VENTURE CAPITAL NEWS

Nubank Lists on NYSE at USD44b Valuation

(The Wall Street Journal) Nubank listed on the NYSE in what is reported to be one of the biggest IPOs in 2021 at a reported USD44b valuation. Nubank also listed on the B3 through Brazilian Depositary Receipts. Read more

Prosus Ventures Leads USD60m Series B for Colombian Edtech Platzi

(Press Release) Prosus Ventures led a USD60m Series B for Colombian edtech Platzi, with follow-on from Foundation Capital, Y Combinator, 500 Global, FJ Labs, FundersClub and Hans Tung (GGV) and Darian Shirazi (Gradient). Read more

Cometa Leads USD20m Seed Round for Mexican E-Commerce Aggregator Quinio

(Press Release) Cometa led a USD20m seed round for Quinio, a Mexican e-commerce aggregator, with participation from DILA Capital, GBM Ventures, AlleyCorp, Western Technology Investment and angel Adalberto Flores (Kueski). Read more

ALLVP and Infinity Ventures Lead USD15m Series A for Mexico's Mendel

(TechCrunch) ALLVP and Infinity Ventures led a USD15m Series A for Mendel, a Mexican corporate spend management platform. Read more

Lachy Groom Leads USD14.8m Series A for Brazil's Stark Bank (em português)

(Brazil Journal) Lachy Groom led a USD14.8m Series A for Stark Bank, a Brazilian cash management platform and corporate card issuer, with participation from Iporanga Ventures, Norte Capital and K5 Global. Read more

Online Contact Lens Retailer Lentesplus Raises ~USD8m

(LABS News) Lentesplus, an online retailer for contact lenses, raised a ~USD8m round from IGNIA Partners, DG Ventures, Empire Group and Palm Drive. KASZEK led a USD5.25m round in August. Read more

Dalus Capital and Kayyak Ventures Lead USD5.1m Seed Round for Colombian's Proptech Aptuno (en español)

(Forbes) Dalus Capital and Kayyak Ventures led a USD5.1m seed round for Aptuno, a Colombian proptech focused on eliminating the need for a co-signer in the residential rental market. Read more

GFC Leads ~USD3.4m Round for Brazil's VELVT (em português)

(Startupi) GFC led a ~USD3.4m round for VELVT, a Brazilian liquidity platform for late-stage VC financing, with participation from Headline, Yolo Ventures and Armyn Capital. Read more

REAL ASSETS NEWS

Mubadala Acquires RLAM from Petrobras for USD1.8b

(Petrobas) Mubadala completed the acquisition of the Refinaria Landulpho Alves (RLAM) refinery in Brazil from Petrobras for USD1.8b. Read more

CPP Investments and OTPP To Increase Stake in Mexico’s IDEAL

(Press Release) CPP Investments and Ontario Teachers’ Pension Plan Board (OTPP) agreed to acquire incremental stakes in Mexican infrastructure operator Impulsora del Desarrollo y el Empleo en América Latina (IDEAL). CPP Investments and OTPP will acquire an additional 8.4% and 1.1% stake, respectively. Read more

Alba Capital Partners-Backed A1 Torres Acquires 47 Telecom Sites in Argentina

(Press Release) A1 Torres, an Argentina-based telecom tower company backed by Alba Capital Partners, announced the acquisition of 47 telecommunication sites in Argentina. A1 Torres now holds 110+ sites in the country. Read more

LAVCA & Industry Events

MORE INFORMATION

GPC Conference
Hosted by GPCA | April 4-6, 2022 | New York, NY

SAVE THE DATE

LAVCA Week 2022
Hosted by LAVCA | October 12-14, 2022 | New York, NY

LAVCA Members receive a discount on select events. For information, contact Kaela Kennedy.