Leading PE and VC Firms join Latin American Venture Capital Association Board
New Directors to Represent Leading LatAm Fund Managers Advent International, FIR Capital, Nexxus Capital and Conduit Capital
New York, NY –- Four prominent fund managers have recently accepted seats on the Board of Directors of the Latin American Venture Capital Association (LAVCA). Active terms for the new directors will begin in April.
LAVCA’s new directors are Ernest Bachrach, Latin America Chief Executive, Advent International; Marcus Regueira, Managing Director and Founding Partner, FIR Capital; Arturo Saval, Managing Director, Nexxus Capital; and J. Scott Swensen, Chairman, Conduit Capital.
“LAVCA’s Board expansion reflects the strong growth of our industry in recent years,” said Eduardo Elejalde, Chair of LAVCA’s Board of Directors and Founding Partner of Latin American Enterprise Fund Managers. “We are delighted to welcome Ernest, Marcus, Arturo and Scott to their new leadership role within LAVCA.”
Mr. Elejalde said that LAVCA’s new directors bring added depth of experience to LAVCA’s Board.
Mr. Bachrach has managed Advent’s Latin American investment program since 1995, including LAPEF IV, a $1.3 billion regional fund closed in July 2007.
“There is a real need for an active industry association to support momentum and foster further expansion of private equity and venture capital in Latin America,” said Mr. Bachrach. “The association has some great initiatives underway and we look forward to being an active participant.”
Mr. Regueira, who is completing his term as President of the Brazilian Private Equity and Venture Capital Association (ABVCAP), founded Brazil’s most prominent venture capital firm.
“Over the last decade, start up and early stage investing have taken hold in Brazil, and global interest in venture capital continues to grow,” said Mr. Regueira. “LAVCA has a mandate to promote venture capital throughout Latin America, and I look forward to supporting that mandate as a board member.”
Mr. Saval’s experience operating successfully within Mexico’s nascent private equity industry will be of value to LAVCA’s Board, noted Mr. Elejalde. Nexxus is also a member of the Mexican Private Equity Association (AMEXCAP).
Mr. Swensen, who has served for over 14 years as Founding Partner of Conduit Capital’s Latin Power Funds Group, brings to LAVCA his regional experience in Latin America’s energy sector.
“I agreed to join LAVCA’s Board because I have been very impressed by its efforts to promote the industry in Latin America,” said Mr. Swensen. “As a LAVCA Director, I look forward to working with local governments to bring the benefits of private equity investments to their countries.”
LAVCA’s new directors will be formally welcomed at the LAVCA/AMEXCAP 2008 Annual Summit, to be held in Mexico City from April 9-10.
Cate Ambrose
Executive Director
Latin American Venture Capital Association
Ernest Bachrach
Chief Executive, Latin America
Advent International
Enrique Bascur
Managing Director, Latin America Head
Citigroup Venture Capital Association
Eduardo Elejalde, Chair
Founding Partner
Latin America Enterprise Fund Managers
Julio Lastres
Senior Managing Director- Americas
Darby Overseas Investments, Ltd.
Claudia Fan Munce
Managing Director
IBM Global Venture Capital Group Erik Peterson, Treasurer
Managing Partner
Aureos Capital
Marcus Regueira
Managing Director and Founding Partner
FIR Capital
Arturo Saval
Managing Director
Nexxus Capital
J. Scott Swensen
Chairman
Conduit Capital
David Thomas, Chair Emeritus
Managing Director
Intel Capital Latin America