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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
Riverwood 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
Read MoreQED Investors Leads USD15m Series B for Brazilian Payment Infrastructure Fintech Hash
QED Investors led a USD15m Series B for Brazil-based payment infrastructure fintech Hash, with follow-on from KASZEK and Canary. Read more
Read MoreRiverwood and Oria Partially Exit Brazil’s Mandic via Sale to Claranet
Riverwood Capital and Oria Capital have partially exited Brazil-based cloud and cybersecurity SaaS company Mandic via a sale to UK-based cloud computing group Claranet. Read more
Read MoreOria Capital Reaches ~USD90m Final Close for Oria Tech III
Oria Capital has reached a BRL500m (~USD90m) final close for Oria Tech III. The fund, which intends to invest in six tech companies in Brazil, has already made three investments:
Read MoreWarburg Exits Brazilian Logistics Operator Sequoia Logística via Follow-On Offering for ~USD121m
Warburg Pincus has partially exited its stake in B3-listed Sequoia Logística, a Brazil-based logistics operator focused on the e-commerce sector, via a follow-on offering worth BRL894m (~USD158.5m). Warburg Pincus received
Read MoreIFC to Invest USD20m in HMC Andean Private Debt Investment Fund
IFC has agreed to invest USD20m in HMC Deuda Privada Andina, a private debt fund which will provide financing to mid-sized companies in Colombia, Peru and Chile. Read more
Read MoreSoftBank-Led Consortium to Invest USD1b in Televisa-Univision Merger
A consortium of investors led by SoftBank and including Google and the Raine Group will invest USD1b in Televisa-Univision, a merger between Mexico-based broadcast and media giant Grupo Televisa and
Read MoreJaguar Growth Partners Acquires Brazilian Real Estate Securitization Platform RB SEC
Jaguar Growth Partners has acquired Brazil-based real estate securitization platform RB SEC from RB Capital for an undisclosed amount. Read more
Read MoreD1 Capital, Founders Fund, Ribbit and BOND Lead USD485m Series D for Mexican Car Resale Marketplace Kavak
D1 Capital Partners, Founders Fund, Ribbit Capital and BOND led a USD485m Series D for Mexico-based car resale marketplace Kavak, at a reported USD4b valuation. SoftBank, DST Global and Greenoaks
Read MoreQED Investors Leads USD12m Series A for Mexican Logistics Startup Nuvocargo
QED Investors led a USD12m Series A for Nuvocargo, a Mexico-based digital logistics platform for cross-border trade, with participation from David Velez (Nubank), Michael Ronen (SoftBank), FJ Labs, Clocktower, Karim
Read MoreAqua Capital’s AgroGalaxy Acquires Brazil’s Sementes Campeã and Boa Vista for ~USD9.5m
Aqua Capital’s AgroGalaxy, a holding company bringing together Aqua Capital’s agribusinesses, has acquired the remaining 30% stake in Brazil-based Sementes Campeã for BRL12.3m (~USD2.2m), after acquiring a 70% stake in
Read MoreKKR Acquires 20% Stake in Sempra Infrastructure Partners for USD3.37b
KKR has agreed to acquire a 20% stake in Sempra Infrastructure Partners, the new business platform of US-based energy infrastructure company Sempra Energy, for USD3.37b. Under the terms of the
Read MoreRibbit Capital Leads USD26.7m Series A for Brazilian Fintech Cora
Ribbit Capital led a USD26.7m Series A for Cora, a Brazil-based digital lender for SMEs, with participation from KASZEK, QED Investors and Greenoaks Capital. Read more
Read MoreVinci Acquires Brazilian Wind Farms from Petrobras & Wobben
Vinci Partners’ V2I Energia has acquired Brazilian wind farms Eólica Mangue Seco 3 and Mangue Seco 4 from Petrobras and Wobben. Read more
Read MoreAqua Capital Acquires Brazilian Machinery Platform Rech Tratores for ~USD17.5m
Aqua Capital has acquired Brazil-based agricultural machinery reseller Rech Tratores for ~BRL100m (~USD17.5m). Read more
Read MoreAlkeon Capital Leads USD150m Round for Uruguayan Cross-Border Payment Processor dLocal
Alkeon Capital led a USD150m round for Uruguay-based payment processor dLocal, with participation from BOND, D1 Capital Partners and Tiger Global Management, at a USD5b valuation. Read more
Read MoreMountain Nazca Leads USD2.4m Pre-Seed Round for Mexico’s Meru
Mountain Nazca led a USD2.4m pre-seed round for Meru, a Mexico-based B2B marketplace for Asian products, with participation from Ricardo Weder (Jüsto), Roger Laughlin (Kavak) and David Geisen (Mercado Libre).
Read MoreVinci Partners Reaches USD173m Final Close for Vinci Impacto e Retorno IV
Vinci Partners has reached a BRL1b (~USD173m) final close for Vinci Impacto e Retorno IV. The vehicle will invest in medium-sized companies operating in the healthcare, education, retail, IT and
Read MoreTCV Leads USD130m Series C for Brazilian Content Distribution Platform Hotmart
TCV led a BRL735m (~USD130m) Series C for Brazil-based content distribution platform Hotmart, with participation from Alkeon Capital. Read more
Read MoreMercado Libre, Globant, Riverwood Capital and KaszeK Invest USD50m Round for Argentinian Edtech Digital House
Mercado Libre, Globant, Riverwood Capital and existing investor KaszeK Ventures have invested a USD50m round for Argentina-based edtech Digital House. Read more
Read MoreCarrefour to Acquire Advent-Backed Grupo BIG Brasil for ~USD1.3b
Grupo Carrefour Brasil has agreed to acquire Grupo BIG Brasil, a Brazil-based food retailer backed by Advent International, for BRL7b (~USD1.3b). Once the deal is completed, Advent and Walmart will
Read MoreAdvent Sells Stake in Mexico’s Gayosso to Servicios Funerarios GG for USD49m
Advent International has sold its stake in Mexico-based funeral services provider Grupo Gayosso to Servicios Funerarios GG for USD49m. Advent originally invested in Gayosso in October 2007. Read more
Read MoreIFC and Goldman Sachs Lead USD25m Series C for Brazilian Consumer Credit Fintech OpenCo
IFC and Goldman Sachs led a USD25m Series C for OpenCo, a Brazil-based consumer financing fintech resulting from the merger of fintechs Geru and Rebel, with Raiz Investmentos as a
Read MoreFTV Capital Leads USD35m Series B for Brazilian Corporate and Trust Service Provider Vortx
FTV Capital led a USD35m Series B for Vortx, a Brazil-based tech-enabled corporate and trust service provider for fund managers and corporate issuers. Read more
Read MoreD1 Capital Leads USD425m Series D for Brazilian Proptech Loft
D1 Capital led a USD425m Series D for Brazilian proptech Loft at a USD2.2b valuation, with participation from Advent International, Altimeter Capital Management, Canada Pension Plan Investment Board, DST Global,
Read MoreAccel Leads USD90m Series D for Brazilian E-Commerce Platform Nuvemshop
Accel led a USD90m Series D for Nuvemshop, a Brazil-based e-commerce platform for SMEs with operations in Mexico, Brazil and Argentina, with participation from ThornTree Capital and follow-on from KaszeK
Read MoreCPP Investments to Invest USD214.5m in Brazilian Water and Sewage Service Holding Company Igua Saneamento
Canada Pension Plan Investment Board (CPP Investments) has agreed to invest BRL1.178b (~USD214.5m) for a 45% stake in Brazil-based water and sewage service holding company Igua Saneamento, partnering with existing
Read MorePatria SPAC Files for USD250m IPO
Patria Acquisition, a SPAC formed by Patria Investimentos targeting Latin American companies, has filed to raise up to USD250m in an IPO on the Nasdaq. Read more
Read MoreDILA Capital SPAC Files for USD50m IPO
DILA Capital Acquisition, a SPAC formed by DILA Capital targeting tech-enabled sectors in Latin America, has filed to raise up to USD50m in an IPO on the Nasdaq under the
Read MoreHomebrew Leads USD3.3m Round for Mexican B2B Payments Company Higo
Homebrew led a USD3.3m round for Higo, a Mexico-based B2B payments company focused on SMEs, with participation from Susa Ventures, Haystack and J Ventures. Read more
Read MoreAdobe Capital Invests in Chilean Refurbished Phone Company Rephone
Adobe Capital, through its Adobe Mezzanine Fund II, has invested an undisclosed amount in Rephone, a Chile-based company that recovers, refurbishes and resells previously used smartphones. Read more
Read MorePortag3 and Gradient Ventures Lead USD14m Series A+ for Mexican Fintech Fondeadora
Portag3 and existing investor Gradient Ventures led a USD14m Series A extension for Mexico-based challenger bank Fondeadora, with participation from angel investors. Gradient Ventures led the USD14m first tranche of
Read MoreBoa Vista Acquires Crescera-Backed Konduto for USD30.6m
Boa Vista has acquired 100% of Konduto, a Brazilian anti-fraud startup backed by Crescera Capital, for BRL172m (approximately USD30.6m). Read more
Read MoreXP Asset Management Invests USD8.7m Debt in Brazilian Fintech Acqio
XP Asset Management has invested BRL50m (approximately USD8.7m) in a convertible debt round for Brazil-based fintech Acqio. Read more
Read MoreVolpe Capital Reaches USD80m First Close for Latin American VC Fund
Volpe Capital has reached a USD80m first close with commitments from SoftBank, BTG Pactual and Banco Inter affiliates. The VC fund, which specializes in high-growth technology investments in Latin America,
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