Elevar Equity, Omidyar Network, and The Rise Fund announced an undisclosed Series A investment in Grupo VI-DA, an Argentinean digital literacy and education company. The investment was through Grupo VI-DA’s early stage co-investment partnership with Elevar.
Dalus Capital led a US$3m Series A investment in Sirena, an Argentine mobile sales solution, with participation from NXTPLabs and unnamed local funds. (Press Release) Mexico City, Mexico (June 27, 2018)…
OLX, a global classifieds marketplace backed by Naspers, and Properati, a real-estate marketplace with operations across Latin America, will merge its operations in Argentina and 13 other countries in the region. Properati will continue to operate independently in Brazil, Chile and Mexico. Previous venture capital investors in Properati include NXTP Labs and NEVEQ.
Riverwood Capital made an undisclosed investment in Chilean SaaS Nubox. This is Riverwood Capital’s second investment in the Chilean firm. Nubox recently acquired Argentinean SaaS Colppy as part of its regional expansion.
The Yield Lab has launched a Latin American program based in Buenos Aires and will take on six startups for the first cohort. The accelerator has so far invested in local agtechs Agree Market, Kilimo, and Eiwa.
Puerto Rico’s Science, Technology and Research Trust (PRSTRT) will invest US$225k through Puerto Rican accelerator Parallel18’s follow on fund in Abartys Health, a Puerto Rican insurance startup, and Quiena, an Argentine fintech startup.
BID Invest made an initial investment of US$3m in Argentinean fintech startup MONI Online, and it has the option to invest an additional US$2m in the startup’s next investment round. This is BID Invest’s first fintech investment.
On May 9, 2018, the Argentine Congress passed the Productive Financing Law. This law introduces significant reforms to Capital Markets Law No. 26,831 (“CML”) with the objective of achieving a modern financial regulatory framework that contributes to the development of the country’s economy.
A newly-passed capital markets reform bill in Argentina will loosen restrictions on some funds investing in the country. The upgrade would open the country to a wider range of more risk-averse investment funds. The bill allows closed-end mutual funds to invest in alternative assets like real estate or farmland, while requiring them to raise funds through a public offering to boost transparency, according to Reuters.
NXTP Labs participated in an undisclosed investment round in Pay per TIC, an Argentine last-mile payments platform.