GLOBAL MEMBER MEETUP

Meet the LPs: In Conversation with ALTÉRRA

LAVCA Members are invited to join GPCA's next Global Member Meetup, taking place virtually on 18 June from 9 - 9:45 am EDT. This Meet the LPs event will be hosted by Karim Radwan, GPCA Energy Leadership Council Member and Head of Investments for ALTÉRRA.

ALTÉRRA is one of the world’s largest private investment vehicles for climate finance. Launched at COP28 with a USD30b commitment from the UAE, ALTÉRRA aims to build innovative partnerships to mobilize USB250b globally by 2030 to finance the new climate economy and accelerate the climate transition. 

The Meet the LPs series is for members interested in building relationships with institutional investors active in global private markets. Members will have the opportunity to participate in an interactive Q&A for unscripted sharing on private capital trends. 

▸ Founders Fund led a USD100m+ Series B for Enter, a Brazilian AI platform for enterprise legal departments, at a reported USD1.2b valuation, with participation from Ribbit Capital, Sequoia Capital, KASZEK, ONEVC and Atlantico.

• Founders Fund and Sequoia Capital co-led a USD35m Series A for Enter at a reported USD350m valuation in September 2025; Sequoia led a USD5.5m seed round in March 2025. Enter was Sequoia’s first Brazilian startup investment since Nubank in 2014.

▸ iFood acquired a <5% minority stake in Daki, a Brazilian online grocery platform, for an undisclosed amount.

• Daki last raised a USD50m Series D led by Convivialité Ventures, Pernod Ricard’s CVC arm, in 2023 at a reported USD800m post-money valuation.

▸ CRYPTO | Tether led a USD14m Series A for Belo, an Argentine digital crypto wallet, with participation from Titan Fund, The Venture City, Mindset Ventures and G2.

▸ FINTECH | Valor Capital Group, Quona Capital and Globo Ventures led a USD12.4m Series B for Franq, a Brazilian fintech platform for independent bankers and investment advisors.

▸ Takenos, an Argentine cross-border payments platform, raised USD10m from undisclosed investors.

▸ FINTECH | Canary, Atlantico and Caravela co-led a USD8m seed round for Robbin, a Brazilian AI-enabled credit and payments platform for B2B retail transactions, with participation from ABSeed, Norte Ventures, Clocktower and Tomorrow Capital.

▸ HRTECH | Seresa Experian led a USD4m round for Palenca, a Mexican professional identity verification platform, with participation from Foundation Capital, Gilgamesh Ventures and Dhow Ventures.

▸ Patria Investments led a USD3.5m seed round for Benup, a Brazilian corporate benefits platform, with participation from Atman Capital, Roberto Lee (Avenue Securities), Florian Bartunek (Constellation) and Marcelo Kayath (QMS Capital).

▸ ONEVC and 17Sigma co-led a USD2.5m round for Brazilian fintech Aro, with participation from Norte Ventures, Gilgamesh and Grão VC.

▸ Alkemio, an Argentine mining solutions startup, raised USD2m from Epic Angels, GridX, Dalus Capital, VU Venture Partners, Amplifica Capital and VX Ventures.

▸ DEEPTECH | Indicator Capital and SP Ventures co-led a ~USD1.8m round for Aimirim, a Brazilian deeptech company integrating field hardware and software for predictive control in industrial processes.

▸ Wollef Ventures led a USD1.5m seed round for Kleva, a Mexican startup specializing in AI agents for debt collection, with participation from Nascent, Kuiper VC and Lerer Hippeau.

▸ EDTECH | Elevify, a Brazilian online course platform, raised a USD1.4m seed round from big_bets, Vivo Ventures, GP Investments, Malta Enterprise and Newtopia VC.

▸ ADTECH | Guipa, a Brazilian advertising platform using LED-enabled delivery motorbike boxes, raised a ~USD1.4m pre-seed round from angels including João Dias (NEOOH), Carlos Fonseca (Galápagos Capital) and others.

▸ ENERGYTECH | Triaxis Capital and Crescera Capital led a ~USD1.1m round for SolarZ, a Brazilian software platform for solar energy integrators, through the Criatec 4 fund.

• SolarZ previously raised a BRL1.5m pre-seed round led by DOMO.VC and Bossa Invest.

▸ CVC | Vellore Ventures, the CVC arm of Grupo Vellore, invested ~USD900k in Constr Up, a Brazilian platform digitizing construction materials retailers.

▸ FINTECH | Orbit Ventures led a USD600k pre-seed round for Mozart, a Uruguayan AI platform for debt collection and recovery operations, with participation from Picante VC.

▸ AI | Asterismus Capital led a ~USD550k round for Draiven, a Brazilian AI-driven corporate decision-making platform.

• Draiven also acquired Rabt Automation, a Brazilian software automation and low-code development company, to expand its workflow automation capabilities.

▸ Comunitá led a ~USD400k round for Beepay, a Brazilian autonomous checkout technology startup.

▸ CREATOR ECONOMY | Bossa Invest and Raio Capital invested ~USD280k in Sandwiche, a Brazilian creator marketing platform connecting brands with micro-creators.

▸ HEALTHTECH | Kfund and IDB Lab invested in Sofía, a Mexican digital health insurer and telemedicine platform.

• Kfund led a USD13.5m round in December 2024; Index Ventures led a USD19m Series A in November 2020.

▸ Banco do Brasil invested in Agrorobótica, a Brazilian startup that develops intelligence solutions for the soil carbon market.

▸ CLEANTECH | Epic Angels invested in Eolic Wall, a Peruvian distributed wind energy startup developing small-scale wind systems for buildings.

• This is Epic Angels’ first investment in Peru, according to LAVCA Data.

▸ Proparco committed USD15m to Lightrock Latam Fund II, an impact investment fund backing growth-stage companies across Latin America focused on energy transition, resource efficiency, access to essential services and productivity.

• Proparco previously invested USD10m in a Lightrock-managed co-investment vehicle for ComBio, bringing its total exposure to Lightrock in Latin America to USD25m.

▸ 99 invested BRL45m as anchor LP in YvY Capital’s two-wheel electromobility fund, a BRL304.5m vehicle to accelerate local production of electric motorcycles and related supply-chain infrastructure in Brazil.

▸ DNA Capital reached a BRL300m first close for DNA VC II, its second venture capital fund with a BRL500m target Series A and B healthtech companies in Latin America and the US.

• LPs include J&J Impact Ventures, the Johnson & Johnson Foundation’s impact investment fund, BNDES, Desenvolve SP, BTG Pactual and the Bueno family office.
• This is J&J Impact Ventures’ first fund commitment in Latin America, according to LAVCA Data.

▸ Mouro Capital, Banco Santander’s fintech-focused venture capital platform, reached a USD400m close for its third flagship fund to invest in early and growth-stage fintech, AI, data and financial infrastructure companies across Europe, North America and Latin America.

• Recent LatAm investments include Colektia, Klar, nocnoc, a55 and Nowports.

▸ Banco do Brasil selected MSW Capital and Vox Capital to manage BB Ventures II, a new BRL300m+ corporate venture capital strategy focused on fintech, govtech, agtech, AI and bioeconomy startups in Brazil.

• MSW Capital will manage BRL115m and Vox Capital will manage BRL140m, with ~BRL30m allocated to other funds.

▸ B Venture Capital reached a USD7m close for its third fund to invest in pre-seed and seed B2B, fintech, SaaS and AI-native startups across Latin America.

• BVC portfolio includes Hashi, Pantera, Contas Simples and Mono.

▸ Caricaco Ventures launched CV2, its second investment vehicle to back software and AI-native startups led by founders with ties to Central America.

▸ inDrive launched Aurora Ventures, an early-stage investment program to back women-led pre-seed and seed startups across Latin America, Africa and MENA, with tickets of up to USD250k-300k.

▸ Serasa Experian acquired idwall, a Brazilian digital identity verification and fraud prevention platform, in a ~USD78m transaction.

• Endurance led a USD38m Series C for idwall in 2021, with participation from GGV Capital, monashees, Canary, Qualcomm Ventures, ONEVC, Peninsula and Norte Ventures.

▸ Vertex, a US-based tax technology platform, acquired Brinta, an Uruguay-based AI-native e-invoicing and tax compliance platform

• KASZEK led a USD5m seed round for Brinta in 2023, with participation from DST Global, 17Sigma, Broadhaven Ventures, Latitud and Gilgamesh Ventures.
• Brinta was co-founded by dLocal alums Michel Golffed and Rodrigo Sanchez Prandi.

▸ Klar, a Mexican digital bank, acquired Yave, a Mexican digital mortgage platform.

• Klar raised a USD190m Series C led by General Atlantic in 2025.

▸ Capim, a Brazilian fintech offering financial services to dental clinics, acquired Dental Office, a Brazilian management software platform for dental clinics, providing an exit for Stone, which held a ~20% stake.

• Valor Capital Group and QED Investors led a USD27m round for Capim in 2025, with participation from Endeavor, Credit Saison and Actyus.

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