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Asian Investors in LatAm Startups (2013-2017)

February 26, 2018

Asian investors are playing an increasingly important role in financing Latin American startups, co-investing alongside local and global investors across a range of sectors and stages.

2017 saw landmark investments from SoftBank and Didi Chuxing into Brazilian rideshare company 99, significant deals from Singaporean sovereign wealth funds GIC (in Netshoes) and Temasek (Netshoes, IguanaFix, Neoway) and corporate investors Tencent (Satellogic) and Tsing Capital (Bluesmart); and blockchain investors Digital Finance Group and FGB Capital in Ripio (formerly BitPagos).

SoftBank and Didi Chuxing’s US$200m investment in 99, along with Riverwood Capital, is the largest publicly disclosed round of venture investment in a LatAm startup to date. Didi acquired 99 in early 2018 for ~US$600m, in a deal that officially put 99 in unicorn territory and marked one of Didi’s first acquisitions outside of China. Didi is also expanding to its first market outside of China: Mexico.

The deal speaks to the larger significance of Latin America’s rideshare market on the global scale. Uber’s top three cities by ride volume are all in Latin America, and the battle between local and international players is heating up: 99 competes with Uber and Cabify in LatAm. But Didi is also an investor in Uber, and Uber is Didi’s largest shareholder; SoftBank is invested in Didi, Uber and 99. And Cabify, which acquired Brazilian rideshare app Easy in 2017, received a US$160m cash injection in early 2018, led by Japanese corporate Rakuten Capital and others.

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HIGHLIGHTED ASIAN INVESTMENTS IN LATAM STARTUPS (2013-2017)

Startup Startup HQ Sector Stage* Investor(s)
99 Brazil Marketplace: Ridesharing Growth Didi Chuxing (China); Softbank (Japan)
Bitso Mexico Fintech Early Bitcoin Capital (Hong Kong)
Bluesmart Argentina IoT: Travel & Tourism Early Tsing Capital (China)
Geekie Brazil Edtech Early Mitsui (Japan)
IguanaFix Argentina Marketplace Early Temasek (Singapore)
Neoway Brazil Big Data Growth Temasek (Singapore)
Netshoes Brazil e-commerce Growth GIC (Singapore); Temasek (Singapore)
Nubank Brazil Fintech Growth DST Global (Hong Kong)
Psafe Brazil Digital Security Expansion Qihoo 360 Technology (China)
Rappi Colombia Logistics & Distribution Early DST Global (Hong Kong)
Ripio Argentina Fintech Early Digital Finance Group (Huiyin Blockchain) (China)
Satellogic Argentina Earth Observation Expansion Tencent (China)

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DATA METHODOLOGY

Investments took place during the period 2013-2017 and include verified LAVCA Industry Data on fund manager transactions, as well as other investor types from public sources.

This information has been gathered from sources believed to be reliable and from secondary sources that were checked whenever possible, but its accuracy and completeness are not guaranteed. LAVCA shall not be responsible for any inaccuracy unintentionally included in this publication. Readers should consult and rely solely on their own advisers regarding all pertinent information, legal, and accounting issues.

*Investments include the following stages:

  • Seed/Incubator: Startup capital for companies to incubate an idea into a company or product.
  • Early Stage: Startup capital for companies.
  • Expansion Stage: Capital for companies that have reached a sustainable level of development and may be shipping products.
  • Growth Financing: Non-control equity investment in an existing company to finance growth strategy.
Asian Investors in LatAm Startups (2013-2017) was last modified: March 9th, 2018 by Editor
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Methodology

LAVCA’s fourth annual list of Emerging Women Investors in Latin American Tech includes 135 junior- and mid-level investment professionals from Latin America-based firms, as well as from global firms with Latin America-dedicated investment teams.

Every year since 2016, LAVCA solicits nominations of top women investors in tech from the investment community. In 2018, complementing the peer nomination process, LAVCA reviewed the investment teams of all active Latin American VC funds. Our inaugural list of  Emerging Women Investors in Latin American Tech had 47 investors. The list has been constantly growing – from 87 investors featured in 2019, to 97 in 2020, and to 116 in 2021.

NOMINATE AN INVESTOR

This list is not exhaustive; if you know of a junior- or mid-level investment professional working on Latin American tech deals who should be on this list, contact [email protected]

TOP WOMEN INVESTING IN LATIN AMERICAN TECH

LAVCA’s companion list of Top Women Investors in Latin American Tech includes 140 senior-level women investment professionals who are deploying capital in early and growth stage tech deals.

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

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