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Latin America 2021 Industry Data and Analysis
The LAVCA 2021 Industry Data & Analysis includes data and insights on fundraising, investment and exit activity from the full year in 2020. Member access includes: LAVCA Analysis: A summary of
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Industry News
ALLVP Exits Cornershop via Sale to Uber at USD3b+ EV
ALLVP has exited Chile-based grocery delivery platform Cornershop via a sale to Uber at a reported ~USD3b+ valuation. Read more
Read MoreDST Global, QED and Valor Capital Group Invest USD60m Series B for Chilean Insurtech Betterfly
DST Global, QED investors, Valor Capital Group, Endeavor Catalyst and SoftBank Latin America Fund have invested a USD60m Series B for Betterfly (formerly Burn to Give), a Chile-based certified B-Corp
Read MoreAdvent International Invests USD430m in Brazil’s Ebanx
Advent International has invested USD430m in Brazil-based cross-border payment platform Ebanx. Advent invested through its Latin American Private Equity Fund, Global Private Equity, Advent Tech and Sunley House Capital fund.Advent
Read MoreLightrock Leads ~USD138.6m Series C for Brazilian Bus Ticketing Platform Buser
Lightrock led a BRL700m (~USD138.6m) Series C for Buser, a Brazil-based bus ticketing platform, with participation from Iporanga Ventures and follow-on from SoftBank, monashees, Valor Capital Group, Globo Ventures and
Read MoreSoftBank and Viking Global Lead USD250m Round for Mexican Payments Platform Clip
SoftBank Latin America and Viking Global Investors led a USD250m round for Clip, a Mexico-based digital payments platform, at a reported USD2b valuation. General Atlantic and SoftBank invested in 2019
Read MorePelham Capital Leads USD10m Round for Argentine Car Marketplace Karvi
Pelham Capital led a USD10m round for Argentina-based car marketplace Karvi, with participation from Launchpad, Inti Ventures and Luxor Capital. Read more
Read MoreBerkshire Hathaway Leads USD750m Series G+ for Brazilian Neobank Nubank
Brazilian neobank giant Nubank raised a USD750m Series G+, including USD500m from Berkshire Hathaway and USD250m led by Sands Capital, with participation from Verde Asset, Absoluto Partners and others. Read
Read MoreCrescera Exits Brazil’s Afya via Sale to Bertelsmann
Crescera Capital has sold its remaining 25% stake in Brazil-based medical education group Afya to German-based media conglomerate Bertelsmann, achieving a full exit. Read more
Read MoreKinea Exits Brazil’s Centro Clínico Gaúcho via ~USD210m Sale to Notre Dame Intermédica
Kinea Investimentos has exited Brazil-based health services provider Centro Clínico Gaúcho via a BRL1.06b (~USD210m) sale to Notre Dame Intermédica. Read more
Read MoreProsus and KASZEK Invest USD40m in Mexican Last-Mile Delivery Company 99 minutos
Prosus Ventures and KASZEK have invested USD40m in 99 minutos, a Mexican last-mile delivery company for e-commerce platforms. Read more
Read MoreL Catterton Files to Raise USD200m for Latin America-Focused SPAC
L Catterton Latin American Acquisition, a blank check company formed by L Catterton, has filed with the SEC to raise up to USD200m in an initial public offering. Read more
Read MoreSoftBank to Invest up to USD150m in Mexico’s GBM
SoftBank, through its Latin America Fund, has committed up to USD150m to Grupo Bursatil Mexicano (GBM), an investment brokerage platform in the Mexican stock market. Read more
Read MoreIFC Commits USD100m to Cerberus Emerging Market Special Situations Fund
IFC has committed USD100m to Cerberus Emerging Market Special Situations Fund. The vehicle, which is managed by Cerberus Capital Management, will invest in credit opportunities in emerging markets, primarily targeting
Read MoreDarby International Invests in Peru’s IBT Health
Darby International Capital has made an undisclosed investment in Peru-based healthcare operations provider IBT Health. Read more
Read MoreACON Investments Acquires Vitalis Group
ACON Investments, through its Latin America Opportunities Fund V, alongside DEG, FMO and Proparco, has acquired Vitalis Group, a manufacturer and wholesaler of generic injectable pharmaceuticals with production facilities in
Read MoreFuture Positive, Kibo Ventures, FJ Labs, Others Invest USD43m Series A for Mexican Fintech Belvo
Belvo, a Mexican fintech providing a financial services API for mobile applications, raised a USD43m Series A from Future Positive, Kibo Ventures, FJ Labs, Sebastián Mejía (Rappi) and Harsh Sinha
Read MoreGGV Capital Leads USD65m Series B for Colombian B2B Platform Frubana
GGV led a USD65m Series B for Frubana, a Colombia-based B2B fresh produce platform for restaurants and small retailers, with participation from Lightspeed Venture Partners and follow-on from monashees, Tiger
Read MoreSoftBank Leads USD86m Series B for Ecuadorian Fintech Kushki
SoftBank Latin America Fund and an undisclosed growth equity firm led a USD86m Series B for Ecuador-based payments platform Kushki, with follow-on from DILA Capital, KASZEK, Clocktower Ventures and Magma
Read MoreRibbit Capital Leads USD300m Series E for Brazilian Proptech QuintoAndar
Ribbit Capital led a USD300m Series E for Brazilian proptech QuintoAndar, with participation from SoftBank LatAm Innovation Fund, LTS, Maverik, Alta Park, KASZEK, Dragoneer, Kevin Efrusy (Accel) and an undisclosed
Read MoreGeneral Catalyst, DST Global and monashees Invest USD30m in Mexican Corporate Expense Startup Clara
General Catalyst, DST Global and monashees have invested USD30m in Clara, a Mexico-based startup offering corporate expense management and credit cards for Mexican startups, at a reported USD130m valuation. Clara
Read MoreUnion Square Ventures Leads USD65m Series B for Colombian Lending Platform ADDI
Union Square Ventures led a USD65m Series B for ADDI, a Colombia-based point-of-sale lending platform, with participation from 8VC, Citius Capital, Endeavor Catalyst, The Marathon Fund, Hans Tung (GGV) and
Read MoreSoftBank and WeWork Announce Joint Venture in Latin America
SoftBank and WeWork have announced a joint venture that provides SoftBank Latin America Fund with the exclusive right to operate the WeWork brand in Argentina, Brazil, Chile, Colombia and Mexico.
Read MoreDarby International Capital Sells Stake in Colombian Oil Pipeline Ocensa
Darby International Capital has sold its stake in Colombian oil pipeline Ocensa to Spain-based AI Candelaria for an undisclosed amount. Read more
Read MoreKASZEK Reaches Combined USD1b Close Across Two Funds
KASZEK has reached a USD475m final close for Kaszek Ventures V, a vehicle targeting early-stage investments in Latin American tech companies, and a USD525m final close for Kaszek Ventures Opportunity
Read MoreONEVC Reaches USD18m First Close for Latin America VC Fund
ONEVC has reached a USD18m first close for its second Latin America VC fund. The vehicle, which has an initial target of USD40m, will invest in Brazil and in Spanish-speaking
Read MoreG2VP, IFC and IDB Invest Lead USD43m Series C for Latin America-Focused Agtech ProducePay
G2VP, IFC and IDB Invest led a USD43m Series C for ProducePay, a US-based agtech venture that offers financing solutions to growers in Latin America, with participation from Astanor Ventures,
Read MoreH.I.G. Capital to Exit Brazil’s Bigsal Nutrição Animal via Sale to Nutreco
H.I.G. Capital has agreed to exit Brazil-based animal nutrition company Bigsal Nutrição Animal through a sale to Nutreco for an undisclosed amount. The transaction is subject to customary closing conditions.
Read MoreMinerva and Quartz Lead ~USD23m Series B for Brazilian Subscription Delivery Platform Shopper
Minerva’s corporate venture capital fund and Quartz led a BRL120m (~USD23m) Series B for Shopper, a Brazil-based subscription delivery platform for consumer products, with participation from FJ Labs and Floating
Read MoreAdvent International to Acquire Perrigo’s Operations in Latin America
Advent International has agreed to acquire Perrigo Mexico and Perrigo Brazil, the Latin American operations of global provider of over-the-counter self-care products Perrigo, for an undisclosed amount. Read more
Read MoreBlackRock Invests in Mexican Retail Platform Grupo Axo
BlackRock has made an undisclosed investment in Grupo Axo, a Mexico-based multi-brand retail platform backed by General Atlantic. Read more
Read MoreBTG Pactual-Led Consortium to Acquire Chilean Timberland Assets from Arauco for USD385.5m
A consortium led by BTG Pactual’s Timberland Investment Group along with British Columbia Investment Management Corporation and APG has agreed to acquire Arauco’s Chilean timberland assets in Chile for USD385.5m.
Read Moremonashees, KASZEK and Tiger Global Exit Brazil’s GetNinjas via ~USD105m IPO
monashees, KASZEK, Tiger Global Management and Saint-Gobain have exited Brazilian local service marketplace GetNinjas through the company’s BRL500m (~USD105m) IPO on the B3. Read more
Read MoreValor Capital Group Leads USD26m Round for Brazilian Crypto Platform Hashdex
Valor Capital Group led a USD26m round for Hashdex, a Brazilian crypto investment and management platform, with participation from SoftBank, Igah Ventures, Globo Ventures, Canary and Coinbase Ventures. Read more
Read MoreCoatue Leads USD190m Series B for Brazilian POS Platform CloudWalk
Coatue led a USD190m Series B for CloudWalk, a Brazilian blockchain-based POS platform for entrepreneurs and SMEs, with participation from DST Global and follow-on from Valor Capital Group, FIS and
Read MoreRiverwood Capital Leads USD21m Round for Brazilian API Management Platform Sensedia
Riverwood Capital led a USD21m growth round for Brazil-based API management platform Sensedia. Read more
Read MoreOTPP to Acquire Brazilian Electricity Transmission Platform Evoltz From TPG
Ontario Teachers’ Pension Plan (OTTP) has agreed to acquire a 100% interest in Brazil-based electricity transmission platform Evoltz from TPG for an undisclosed amount. Read more
Read MoreRiverwood Makes Follow-On Investment in Latin America-Focused SUMA
Riverwood Capital made an undisclosed follow-on investment in SUMA, a financial management automation platform for SMEs in Latin America. Read more
Read MoreTiger Global and Coatue Lead USD250m Series C for Mexican Crypto Exchange Bitso
Tiger Global Management and Coatue Management led a USD250m Series C for Mexico-based crypto exchange Bitso, with participation from Valor Capital Group, BOND and Paradigm, and follow-on from KASZEK, QED
Read MoreCanary, Dragoneer and Rainfall Lead USD8m Seed Round for Brazilian Insurtech 180° Seguros
Canary, Dragoneer Investment Group and Rainfall led a USD8m seed round for Brazil-based insurtech 180° Seguros, with participation from 8VC, Quartz, Norte Ventures and angel investors. Read more
Read MoreAccial Capital Leads USD35m Round for Brazilian Credit Fintech a55
Accial Capital led a USD35m round for Brazil-based credit fintech a55, with participation from E3 Negócios and follow-on from Mouro Capital, Santander’s VC arm. Read more
Read MoreAtlantico Leads ~USD20.2m Series B for Brazilian D2C Cosmetics Brand Sallve
Atlantico led a BRL110m (~USD20.2m) Series B for Brazil-based D2C cosmetics brand Sallve, with participation from Red Swan and Endeavor Catalyst and follow-on from Astella Investimentos, Canary, Waldencast and KASZEK.
Read MoreMéliuz Acquires InvestTech-Backed Acesso Bank for USD59.5m
Brazil-based cashback platform Méliuz has acquired Acesso Bank, a Brazilian fintech backed by InvestTech, in a BRL324m (USD59.5m) all-stock deal. Read more
Read MoreCPP Investments and AIMCo Invest ~USD411m in Brazilian Water and Sewage Service Holding Company Igua Saneamento
Existing investors CPP Investments and Alberta Investment Management Corporation (AIMCo) have agreed to invest an additional BRL1.7b (~USD318m) and BRL500m (~USD93m), respectively, in Igua Saneamento, a Brazil-based water and sewage
Read MoreValor Capital, monashees and Balderton Lead USD160m Debt & Equity Round for Latin America-Focused E-Commerce Platform Merama
Valor Capital Group, monashees and Balderton Capital led a USD160m round for Mexico- and Brazil-based e-commerce platform Merama, with participation from TriplePoint Capital and the CEOs of Uala, Loggi, Rappi
Read MoreGIC Leads ~USD55 Series C for Brazilian Fintech Warren
GIC led a BRL300m (~USD55m) Series C for Brazil-based fintech Warren, with follow-on from Ribbit Capital, KASZEK, Chromo Invest, QED Investors, Meli Fund and Quartz. Read more
Read MoreCarVal Invests USD150m Debt in Mexico’s Viva Aerobus
CarVal Investors has provided USD150m in financing to Mexico-based ultra low-cost airline Viva Aerobus. Read more
Read MoreSoftBank to Invest USD150m in Brazilian Medical Education Group Afya
SoftBank, through its SoftBank Latin America Fund, has agreed to invest BRL822m (USD150m) in Brazil-based medical education group Afya through the purchase of convertible preferred shares. Existing backers Crescera Capital
Read MoreKinea Invests ~USD54.3m in Brazilian Pet Store Chain Cobasi
Kinea Investimentos has invested BRL300m (~USD54.3m) for a minority stake in Brazil-based pet store chain Cobasi. Read more
Read MoreTMT Investments and Copernion Capital Lead USD22m Series A for Colombian Dark Kitchen Startup Muncher
TMT Investments and Copernion Capital Partners led a USD22m Series A for Muncher, a Colombia-based startup specialized in building, operating and renting dark kitchens, with participation from Femsa Ventures, MGM
Read MoreCrescera Exits Brazil’s Bling via Sale to Locaweb for ~USD94.5m
Crescera Capital has exited its investment in Brazil-based enterprise resource planning SaaS Bling via a sale to Locaweb for BRL524m (~USD94.5m). Read more
Read MoreBaillie Gifford Leads USD100m Series D2 for Brazilian Proptech Loft
Baillie Gifford led a USD100m Series D2 for Brazil-based proptech Loft, with participation from investors including Tarsadia, Flight Deck and the founders of Better, GoPuff, Instacart, Kavak and Sweetgreen. Loft
Read MoreGavea- and Warburg-Backed GPS Raises ~USD422m in IPO
GPS, a Brazil-based facilities company backed by Gavea Investimentos and Warburg Pincus, has raised at least BRL2.3b (~USD422m) in its IPO on the B3. Gavea and Warburg achieved a partial
Read MoreBlue Like an Orange Invests ~USD12m Debt in Brazilian Solar Energy Solutions Company Órigo Energia
Blue Like an Orange has provided BRL106m (~USD12m) in mezzanine financing to Órigo Energia, a Brazil-based solar energy solutions company serving SMEs and households. Read more
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