Board of Directors


Patrice Etlin, Chair
Managing Partner, Advent International

Patrice Etlin joined Advent International, a global private equity firm with operations across Latin America, in 1997 and started the firm’s investment activities in Brazil. As one of Advent’s 14 global Managing Partners, he helps oversee the firm’s strategic direction and investment activities, with a particular focus on Latin America. Mr. Etlin has 18 years of private equity experience and has led, co-led or participated in 13 Advent investments. These include Terminal de Contêineres de Paranaguá, the third-largest container terminal in Brazil; Kroton Educacional (BM&FBOVESPA: KROT11), one of Brazil’s largest private education companies; International Meal Company (BM&FBOVESPA: IMCH3), the leading quick-casual restaurant chain in Latin America; Microsiga, Brazil’s largest ERP software provider (now part of TOTVS, BM&FBOVESPA: TOTS3); and CSU CardSystem (BM&FBOVESPA: CARD3), the largest independent credit-card administrator in Brazil. Mr. Etlin is also a board member of ABVCAP, the Brazilian private equity association, and a member of the Listing Committee of Bovespa Mais.

From 1994 to 1997, Mr. Etlin was a partner at International Venture Partners in São Paulo, where he was responsible for the overall operation of a media and communications fund focused on Brazil. Previously, he spent five years with Matra Marconi Space, initially as a systems engineer on a project to develop a European military observation satellite. In 1990, he was promoted to general representative for Brazil, in charge of setting up a private telecommunications satellite system providing services to Mercosul countries.

He received an undergraduate degree in electronic engineering from the University of São Paulo, a master’s in industrial engineering from École Centrale de Paris and an MBA from INSEAD.

Cate Ambrose, President
President and Executive Director, Latin American Private Equity & Venture Capital Association

Cate Ambrose is President and Executive Director of the Latin American Private Equity & Venture Capital Association (LAVCA). She speaks and writes regularly on a range of topics related to public policy and private investment in Latin America, and is a regular commentator on CNN En Español, Bloomberg, and Fox Business and a guest lecturer at The Wharton School. Cate is also on the Board of Directors for Youth INC, a non-profit dedicated to improving the lives of New York City’s youth and a member of the Bretton Woods Committee, a nonpartisan network of prominent global citizens, which works to demonstrate the value of international economic cooperation.

Prior to joining LAVCA, Ms. Ambrose was Chief of Advocacy for the Commission on Legal Empowerment of the Poor, a United Nations initiative co-chaired by Peruvian economist Hernando de Soto and former US Secretary of State Madeleine Albright, where she directed research projects on business regulation and property rights in Mexico, Brazil, Guatemala, India, Kenya and Tanzania. Until 2005, Ms Ambrose was Executive Director of Programs at The Economist, where she founded the first industry gathering on private equity investment in Latin America, and chaired annual roundtables with the Presidents of Mexico and Colombia. She also chaired a range of meetings on finance, economic policy and business strategy in the US and Latin America, and founded The Global Agenda, a high-level panel of economists, policymakers and business leaders. Ms. Ambrose began her career as a journalist in Spain.

Ms. Ambrose holds an MPA in International Economic Policy from Columbia University, and received her BA in Latin American studies from St Lawrence University and the University of Madrid.

Francisco Alvarez-Demalde
Founder and Partner, Riverwood Capital


Francisco Alvarez-Demalde is a Founder and Partner of Riverwood Capital Partners, and heads Riverwood’s efforts in Latin America and its New York office. Riverwood manages approximately $1.5 billion, and makes private equity investments in high-growth businesses, primarily in the global technology, technology-enabled and related growth industries. Prior to establishing Riverwood, Mr. Alvarez-Demalde was an investment professional at Eton Park Capital Management, where he focused on a variety of private equity investments in Latin America. Previously, he was an investment executive at KKR, where he focused on leveraged buyouts in the Technology Industry and other sectors in both North America and emerging markets, and an investment banker with Goldman, Sachs & Co. Mr. Alvarez-Demalde has been actively involved in the investment of capital in North America, Latin America and Asia, has invested and been actively involved in the development and growth of several successful businesses across Latin America.

Mr. Alvarez-Demalde earned a B.Sc. (Honors) in Economics and Finance from San Andres University, Argentina (including an exchange program at the Wharton School). He is a Director of Alog Data Centers do Brasil, CloudBlue, Globant, LAVCA, Mandic, Motionpoint, Integro, and Synapsis Soluciones y Servicios IT, and a former Director of Allus Global BPO Center and Aveos.

Alfredo Castellanos Heuer
Senior Managing Director, Evercore

Alfredo Castellanos joined Evercore in 2003, where he currently is an SMD of Evercore Mexico Capital Partners (EMCP) and member of its Investment Committee. He currently serves on the Board of Directors of 6 of EMCP’s portfolio companies: More Pharma, Javer, Axo, Intellego, Diavaz DEP and Grupo CP. Alfredo has 17 years of relevant business experience working with companies in Latin America, specifically in Mexico. He also founded Actimart, an internet B2B company that focused on Latin America. Alfredo’s previous work experience includes private equity throughout Latin America at Banc of America Equity Partners, mergers and acquisitions at BT Wolfensohn, and strategic management consulting at McKinsey and Company. Alfredo received his B.A. in Economics from Instituto Tecnológico Autónomo de México (ITAM) and an M.B.A. from Harvard Business School.

Martin E. Diaz Plata
Managing Partner, Capital International Private Equity Funds (CIPEF)

Martin E. Diaz Plata is a Managing Partner of Capital International Private Equity Funds (CIPEF) with primary responsibility in Latin America. Prior to joining CIPEF in 2003, he spent seven years with Donaldson, Lufkin & Jenrette (now Credit Suisse), first as an investment banking associate, then as a principal of DLJ Merchant Banking Partners, in New York and Buenos Aires. Before that, Mr. Diaz Plata spent three years with Corporacion Financiera del Valle in Bogota as an investment analyst and stockbroker. Mr. Diaz Plata is a graduate of Universidad Externado de Colombia and holds an MBA from Columbia University Graduate School of Business. Mr. Diaz Plata serves on the board of directors of El Tejar Limited, ETW Africa Holdings UK Limited, Controladora Milano S.A. de C.V. and the British Colombian Chamber of Commerce. Mr. Diaz Plata previously was a director, among other privately held companies, of Arcos Dorados Holdings Inc, Jumbo Retail Argentina S.A., Peñaflor S.A., and BOPP Holdings. He is based in London.

Carlos Garcia
Co-Managing Partner & Chairman, Victoria Capital Partners

Carlos García is the Co-Managing Partner and Chairman of Victoria Capital Partners, a regionally dedicated private equity firm, and the successor to DLJ South American Partners. Prior to forming DLJ South American Partners in 2006, Mr. García joined Donaldson Lufkin & Jenrette (“DLJMB”) in New York in 1995 to focus on Private Equity Investing in South America. Prior to joining DLJMB, he spent six years at Bankers Trust Company in New York, where he ran the Latin American Merger & Acquisitions and Private Equity Group, and nine years at Bank Boston Argentina, where he was head of Corporate Finance and Investment Banking. Mr. García serves on the board of directors of Zucamor S.A., Papel Misionero, Grupo Santillana de Ediciones S.L., Corona Industrial, Satus Ager and Fitness Chile. Mr. García was a director of the Argentine American Chamber of Commerce, Arcos Dorados, Jugos del Valle S.A., Atlántida Comunicaciones, Grupo Peñaflor, Localiza Rent-a-Car, Cameo Marinetti S.A., Torneos y Competencias, Vitopel S.A. and several other private companies. Mr. García graduated as a Certified Public Accountant from the Catholic University in Argentina in 1981.

Susana Garcia-Robles
Lead Investment Officer, Early Stage Financing Group, Multilateral Investment Fund

Since 1999, Susana García-Robles has created and guided the seed and venture capital investments of the Multilateral Investment Fund in Latin America and the Caribbean. She also leads MIF’s microfinance activities for Argentina and Uruguay. Ms. García-Robles serves on many boards of directors and investment committees of seed and venture capital funds, and serves as Advisor to different governments on issues related to the seed and VC industry. She has been a member of the US-Brazil Venture Capital Task Force since 2006. From 1994 to 1999, she worked with local and international NGOs and several Latin American countries on economic development issues at the U.N. She participated as a country delegate in all the main negotiations of the major U.N. conferences during that period.

Ms. Garcia-Robles holds a Master’s Degree in International Economic Policy from Columbia University, and a Master’s in Philosophy and Education from the Catholic University of Argentina.

Alvaro Gonçalves
Founding Partner, CEO and Chairman of the Investment Committee, Stratus Group

Álvaro Gonçalves is Founding partner, CEO, and Chairman of the Investment Committee of Stratus Group. Formerly, Mr. Gonçalves held the position of MD of Pactual Electra Capital Partners, a private equity fund jointly sponsored by Electra (UK) and Banco Pactual (Brazil). He also served as Chairman of the Brazilian Private Equity Association from 2004 to 2006. In addition to private equity, Mr. Gonçalves has substantial industry experience in C-level executive roles, leading turnarounds, acquisitions and divestitures. He has also served on the board of directors of Brazilian and multinational companies.

Mr. Gonçalves holds a BS in Industrial Engineering from FEI (São Paulo), a postgraduate degree from FGV (São Paulo) and an MBA from IMD-International (Switzerland).

Hernan Kazah
Co-founder and Managing Partner, Kaszek Ventures

Hernan Kazah is a co-founder and Managing Partner of Kaszek Ventures, a Venture Capital firm focused on the technology industry in Latin America. Prior to launching Kaszek Ventures, Mr. Kazah co-founded MercadoLibre (Nasdaq: MELI), Latin America’s largest commerce and payments online platform, and co-led its growth for 12 years – the first 9 years as COO and last 3 years as CFO. Before MercadoLibre, Mr. Kazah worked as a Brand Manager for Procter & Gamble Co. (1994 to 1997) and was a finance analyst at the United Nations Development Program and in a stock brokerage firm in Buenos Aires (1991 to 1994). He currently sits on the boards of several technology firms in the region (PetLove, BelezaNaWeb, MadeiraMadeira, eOtica, Helpsaude, GetNinjas, and PedidosYa). He was selected as an Endeavor Entrepreneur in 1999, Established Endeavor Entrepreneur in 2009, and was awarded “The Outstanding Young Persons of Argentina” recognition by the Junior Chamber International in 2004.

Mr. Kazah received an MBA from Stanford University in 1999 and graduated magna cum laude from the University of Buenos Aires with a Bachelor’s degree in Economics.

Philip T. von Mehren, Outside Counsel

Philip von Mehren is a partner and the Co-Chair of Venable’s New York Corporate Group. He routinely handles cross-border and domestic acquisitions and dispositions – for strategic and financial buyers – including private equity and venture capital funds. Prior to that, Mr. von Mehren was a Partner in the New York office of Baker & McKenzie LLP since January 2007. His practice was focused on cross-border acquisitions and dispositions, often for strategic and financial buyers, including private equity and venture capital funds, often in a distressed situation. Mr. von Mehren also represented various strategic and financial purchasers in U.S. LBO transactions. He has substantial experience representing private equity funds with a Latin American focus in offshore and onshore aspects of transactions in Mexico, Brazil, Venezuela, Colombia, Argentina and Chile. Mr. von Mehren was recently appointed as a member of an eight person advisory committee of the Firm’s Global Restructuring Focus Group. He is admitted to practice in the State of New York and in the District of Columbia.

Mr. von Mehren received his J.D., cum laude, from Harvard Law School, his M. Phil from Cambridge University and his B.A. from Reed College.

Susan Segal
President and CEO,the Americas Society and Council of the Americas, International Advisory Board, Endeavor

Susan Segal was elected President and CEO of the Americas Society and Council of the Americas in 2003 after having worked in the private sector, with Latin America and other emerging markets for more than 30 years. Prior to her appointment, Susan was a partner at Chase Capital Partners/JPMorgan Partners focusing on private equity in Latin America as well as pioneering early stage venture capital investing in the region. During her career as a banker, she focused on multiple areas including but not limited to investment banking, building an emerging market bond trading unit and the debt crisis of the 1980’s and 1990’s where she chaired the Chilean and Philippine Advisory Committees. She is a board member of the Tinker Foundation, the Advisory Board of Endeavor and a member of the Council of Foreign Relations. Susan’s awards include the Order of Bernardo O’Higgins, Chile and Cruz de San Carlos, Colombia.

Ms. Segal holds an MBA from the Columbia University School of Business, and a BA from Sarah Lawrence College.

Scott Voss
Managing Director, HarbourVest

Scott Voss

Scott Voss, a Managing Director of HarbourVest, focuses on primary partnership fund investments in the U.S., Asia, and Latin America. He has also collaborated on several secondary investment opportunities.

Mr. Voss represents HarbourVest on several advisory boards, including funds managed by Advent International (Latin America), Bain Capital Ventures, Braemar Energy Ventures, Doll Capital Management, Draper Fisher Jurvetson, Element Management, Insight Venture Partners, Linzor Capital Partners, Southern Cross Capital Management, and Victoria Capital Partners.

His prior experience includes managing international sales and distribution for Cannondale Corporation, a leading manufacturer of bicycles and cycling accessories, where he had direct oversight of the company’s wholly-owned subsidiaries in Japan and Australia and its network of independent distributors in Asia and Latin America.

Mr. Voss received a BS from Bryant College in 1992 and an MBA from Babson College in 1999.

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