LAVCA Tech Brasil

We look forward to seeing venture investors on Wednesday, 21 August in São Paulo for this year’s meeting. 

The program will include keynote fireside chats, breakout sessions and networking opportunities designed to build meaningful relationships amongst investors active in the region.

LAVCA Members are welcome to join us for a Members-only dinner right after the program. 

LAVCA Tech Brasil 2024 is made possible with support from LAVCA’s Tech Growth Members. Special thanks to Google for hosting, along with AWS, Qualcomm Ventures, MercadoLibre, Riverwood Capital and SVB, for their continued partnership.

Contact Marcelo Pizzato at mpizzato@lavca.org with questions.

Deals

▸ Summit Partners led a USD125m round for Celcoin, a Brazil-based infrastructure developer for fintechs targeting the underbanked.

• Innova Capital led a ~USD17m round in 2021.

▸ EV | Eve, a Brazilian manufacturer of electric vertical take-off and landing aircraft (eVTOLs), raised USD95m from Brazilian aerospace company Embraer and Japanese vehicle part manufacturer Nidec. 

▸ CRM | Bonus, a Brazil-based marketing automation platform, raised a USD10m Series B+ from Vivo Ventures and Industry Ventures. 

• BOND just led a ~USD78m Series B in May. 

▸ Flapper, a Brazilian on-demand private aviation platform, raised an undisclosed Series A+ with follow-on from DXA Invest, Arien and Confrapar.

• DXA Invest and Arien led a ~USD6m Series A+ in Nov 2022; ACE Startups and Aerotec led a ~USD2m Series A earlier this year.

▸ AGTECH | Emerald Technology Ventures led a USD7.5m Series A for Kilimo, an Argentine agtech using satellite-based analytics to optimize water irrigation systems in crops, with participation from Kamay Ventures, Salkantay Ventures, iThink VC and the Yield Lab Latam.

• Kamay invested in December 2022; Chilean investor Impacta VC invested in April 2022. 

▸ CLIMATE | Teampact Ventures fund led a USD4.2m seed round extension for Morfo, a France and Brazil-based reforestation startup, with participation from RAISE Seed for Good, Demeter and AFI Ventures.

▸ Ximple, a Mexico-based digital financial services company for the underbanked, raised a USD2.7m pre-seed round from Clocktower Technology Ventures, BoostCapital Partners, Graph Ventures, 99 Startups and Lotux.VC.

▸ LOGISTICS | LogShare, a Brazil-based collaborative logistics platform, raised a ~USD2.2m round from ONEVC, Niu Ventures and FJ Labs.

▸ TheVentureCity led a USD1.74m round for Moonflow, an Argentinian debt collection management startup, with participation from Salkantay Ventures, Amador Holdings and Morro Ventures.

• Moonflow raised a USD700k pre-seed round in December 2023.

▸ Impacta VC led a USD1.2m round for Retorna, a Chilean international money transfer platform, with participation from Morro Ventures, Ana Raptis (Amplifica) and undisclosed angels. 

▸ Omnik, a Brazilian e-commerce solutions platform, raised ~USD1.2m from ABSeed. 

▸ Canary and QED Investors led a ~USD1m round for Amparo, a Brazilian end-of-life service recommendation platform.

▸ HRTECH | Valutia led a ~USD1m seed round for Konsi, a Brazilian payroll loan analysis platform, with participation from Lighthouse's LH Tech Ventures fund.

• Valutia led a ~USD600k seed round in November 2023.

▸ AGTECH | Gado Certo, a Brazilian cattle marketplace, raised  ~USD780k from KPTL and Bossa Invest.

▸ AGTECH | Grandeo, a Brazilian agricultural monitoring and analysis startup, raised ~USD730k from holding company Uby Agro. 

▸ Thompson Participações led a ~USD650k round for Licitei, a Brazilian government commission bidding platform for SMEs.

▸ Espírito Santo’s FUNSES1 invested ~USD550k in Conducco, a Brazilian CRM platform, Global Touch, a Brazilian community mapping tool, MVGI, a Brazilian environmental asset management platform, Taxly, a Brazilian tax management platform and Twiggy, a Brazilian online fashion startup. 

▸ DEFI | Notus Labs, a Brazilian decentralized finance on-chain solutions startup, raised ~USD230k from Transfero, a Brazilian blockchain company. 

▸ HEALTHTECH | Wayra invested in Fiibo, a Brazilian employee health benefits management platform.

• Headline led a ~USD3.5m round in August 2023.

▸ CVC | CEMEX Ventures invested in ObraLink, a Chilean sensor-based construction monitoring platform.

• Polpaico Soluciones invested USD500k in December 2023; CEMEX Ventures and Gruas M10 led a USD2m round in June 2022.

▸ Paysecure invested in a55, a Brazilian revenue-based lender and payment integration platform focused on SMEs in Brazil and Mexico.

• Movile exited a55 through a sale to AstroPay, a UK-based platform for international payments, in July 2023. 

▸ ANGEL | Judit, a Brazilian legal processes search engine for companies, raised a ~USD730k round from undisclosed angels.

Exits and M&As

▸ M&A | Nubank acquired Hyperplane, a US-based AI platform that helps banks deploy deep-learning models trained in proprietary data.

• Hyperplane raised USD6m six months ago led by Lachy Groom (Stripe), with participation from Clocktower Ventures, Latitud, Norte Ventures, SV Angel, Soma Capital and others. 
• Hyperplane was co-founded by Felipe Lamounier, Daniel Silva, Rohan Ramanath and Felipe Meneses

▸ EXIT | DILA Capital exited Cobee, a Spanish employee benefits platform and card issuer with operations in Latin America, through a sale to Pluxee, a Spanish employee engagement platform. 

• DILA last participated in Cobee’s USD41m Series B in November 2022.

▸ EXIT | Mexico-based investor GC Capital exited Amigo Tours, a Mexican B2B coordination platform for travel agencies. 

Funds

▸ USV is targeting USD275m for its latest fund. 

• USV’s funds have consistently clocked 25%+ returns, according to LACERA.
• USV’s investments in Latin America include ADDI, Mundi, Mombak and alt.bank.

▸ Global Environment Facility committed USD6m to The Yield Lab Latam’s opportunity fund focused on food production startups in Latin America and the Caribbean.

▸ CVC |  Brazilian beauty company Natura launched Natura Ventures, a ~USD10m CVC fund to invest in cosmetics, circular economy and B2B early-stage startups in Brazil. 

• Natura Ventures will be managed by Vox Capital. 

▸ AMAZON | Brazilian VC KPTL reached a USD11m first close for an inaugural fund with a USD30m target to invest in the Amazon-focused companies. 

▸ Brazilian multi-family office Jera Capital is setting up offices in Miami with a focus on international investments, and Geneva, to further expand client relationships.

News

▸ iFood launched iFood Pago, a fintech platform offering credit and payment services to restaurants. 

▸ Kunzapp, a Mexican enterprise software activation and management platform for employees, launched operations in Ecuador through a partnership with fintech Kushki. 

• Kushki raised a USD100m Series B+ from KASZEK, Dila Capital, SoftBank Latin America and Clocktower Ventures in  June 2022. 
• Daedalus Ventures, a Chilean VC founded by Cristóbal Piñera, invested in Kunzapp in July 2023. 

▸ BOLIVIA | The Central Bank of Bolivia authorized crypto transactions executed through banking institutions after implementing a crypto-based payment ban earlier this year. 

▸ Steve Cohen’s Point72 Ventures is rolling back its fintech investment team to focus on AI, per Forbes. 

• Point72’s investments in Latin America include Icognia, Influur, Ontop, Syncfy, Contabilizei and Ualá among others.

▸ AI | Mary Meeker of BOND published her first industry report since 2019 analyzing the relationship between AI and higher education in the US and its global impact. 

• Meeker’s annual Internet Trends reports were amongst the most sought after analysis in the industry. 

▸ SECONDARIES | Venture Capital Journal reviews the increased investor appetite for VC secondaries across global markets.

People & Programs

▸ REGISTER NOW | LAVCA will be hosting LAVCA Week on 8-11 October in New York. Registration is now open.

Global Tech

▸ Sign up for GPCA’s Global Tech Brief, a monthly newsletter that covers tech activity in Asia, Latin America, Africa, CEE and the Middle East. 

LAVCA is now part of GPCA, the Global Private Capital Association, and will continue to operate as a parallel membership organization with its own dedicated team and board.