17 September 2025

LAVCA MEMBER PROFILE

Jerónimo Bosch | Grupo Pegasus

LAVCA recently spoke with Jerónimo Bosch, Managing Partner of Grupo Pegasus, about the firm’s evolution from its early venture capital roots to a multi-asset platform investing across private equity, real estate and operating companies in Latin America. Marking its 25th anniversary, Pegasus has moved away from traditional blind-pool funds toward flexible, long-term structures, enabling it to navigate market cycles and align with both local and global investors.

Jerónimo highlighted the firm’s expansion from Argentina into Colombia and the growth of platforms like Viajero Hostels, ARG Realty and its senior living business, underscoring Pegasus’s hands-on approach, independent structure and ability to build scalable businesses around resilient, high-conviction themes.

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FEATURED SESSIONS

LAVCA Week 2025

7-9 October 2025 | New York City

Join us at LAVCA Week, taking place 7-9 October at the Conrad New York Downtown, as we convene leading private capital investors from Latin America and around the globe each year for a series of meaningful discussions and private meetings covering the latest trends in private equity, venture capital and other private capital strategies.

FEATURED SESSION

From Growth to Exit: The

L Catterton – Despegar Experience

FEATURED SESSION

A Global Vision for Venture

Dirk Donath

Managing Partner,

L Catterton

Damián Scokin

CEO,

Despegar

Anne Martin
Chief Investment Officer,
Wesleyan University

Nicolás Szekasy
Co-Founder & Managing Partner,
KASZEK

Featured Speakers

Alejandra Botero

Manager of Investments & Financial Development,
CAF

Daniel Grew

Investment Director

iAlumbra Capital

Juan Sebastián Restrepo
Head of Investments,
Skandia

Andre Ventura

Portfolio Manager, Capital Solutions Group,

CPP Investments

Qualified institutional investors are granted complimentary access to these exclusive discussions, including a private sit-down with this year's keynote speaker, Orlando Bravo, Founder and Managing Partner of Thoma Bravo.

See which firms have already registered.

Register Now

LAVCA DEAL CASE

Patria | Delly's

In December 2015, Patria founded and invested in Delly’s, a Brazil-based food distributor that manages storage, transportation and product inventory for food retailers.

With Patria’s support, Delly’s acquired and integrated 15 regional distributors, unifying operations across 17 warehouses and a fleet of 700 delivery trucks. The company also broadened its distribution network to include local retailers that had previously been excluded due to low order volumes and high logistics costs. By 2023, these small businesses accounted for 40% of Delly’s sales, driving economic activity in lower-income regions and generating formal employment opportunities. As of 2025, Delly’s processes over 18,000 orders daily, serving 190,000 customers per year and covering 46% of Brazilian municipalities.

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◼︎ Darby International Capital reached a USD363m final close for its fourth private debt fund focused on middle-market companies in Latin America. #PrivateCredit

◼︎ General Atlantic partially exited its stake in Uruguay-based cross-border payments platform DLocal (Nasdaq: DLO) for USD221m. #VC

◼︎ Partners Group led a BRL855m (~USD164m) round for Omie, a Brazil-based ERP for SMEs. The investment was primarily secondary, providing a partial exit to prior investors, including SoftBank, Riverwood Capital, Astella and others. #VC

◼︎ Patria Investments agreed to invest in Brazil-based distribution hub Cariacica Logistics Center in a transaction valued at BRL206.7m (~USD38m). #RealAssets

◼︎ Amazon invested USD25m in Colombia-based delivery platform Rappi. The initial investment was structured as a convertible note and entitles Amazon to buy as much as 12% if certain milestones are met. #VC

◼︎ Vinci Compass acquired a 70% stake in Brazil’s RIOgaleão airport concession for an undisclosed amount. #RealAssets

◼︎ CMB Activa and Newfoundland Capital Management announced the launch of the CMB-NewF Variable Income Infrastructure Financial Trust I, an infrastructure and energy fund focused on Uruguay. #RealAssets

◼︎ Darby International Capital invested in AVLA Bermuda Holding, a Bermuda-based insurance solutions provider for SMEs across six Latin American countries. #PrivateCredit

◼︎ Mattilda, a Mexico-based finance management and tuition collection platform for private schools, secured a USD50m credit facility from Lendable. #VC

◼︎ Mubadala Capital to delist Zamp, the operator of Burger King, Popeyes, Starbucks and Subway franchises in Brazil, after a successful takeover bid. #PE

◼︎ Gramercy and Proparco invested BRL135m (~USD25m) in Frooty, a Brazil-based açaí sorbet manufacturing company backed by Patria Investments. #PrivateCredit

◼︎ Denham Capital-backed Ceiba Energy sold a natural gas-to-power project to Eneva, a Brazil-based integrated energy operator. #RealAssets