Brazil

SoftBank invested US$100m in Loggi, a Brazilian shipping logistics platform, as part of a new US$111m round. Loggi previously raised capital from Qualcomm Ventures, monashees and Dragoneer Investment Group.

CyrusOne, a global data center REIT, announced it will make a US$12m investment in ODATA, a data center in Brazil focused on serving cloud companies. The company has over 12 megawatts of capacity with plans to develop over 100 MW in Brazil, and will soon launch construction in Colombia.  ODATA is majority owned by Patria Infrastructure Fund III, managed by Patria Investments.

Nubank doubled its valuation to US$4b this year with a US$180m investment from Tencent, representing about a 5% stake in the company. US$90m was a direct investment from Tencent; the other US$90m in equity was purchased from existing shareholders. In March 2018, DST Global led a US$150m round in Nubank at a valuation over US$2b, with participation from Thrive Capital, Dragoneer Investment Group, and existing investors Founders Fund, Redpoint Ventures, Ribbit Capital, and QED Investors. Previous investors include KaszeK Ventures, Sequoia Capital, and Tiger Global Management. Tencent’s last disclosed direct investment in Latin America was a 2017 Series B in Satellogic, an Argentine space exploration platform.

BNDES, IFC, and BID Invest committed R$1.2b to Patria’s Credito Estruturado Fund (FDIC). The fund will grant long-term credit of up to seven years to medium-sized companies that still do not have access to the capital market.

Sigular, Guff & Company has raised US$309m for its emerging markets fund, according to an SEC filing.  The Brazil Special Situations Fund will invest in legal claims against Brazil’s government. 

Domo Invest led a R$4m investment in Turbi, a Brazilian car-sharing platform.

Jaguar Growth Partner announced the appointment of Mario De Barros as Principal – Head of Brazil on the firm’s investment team.

Astella Investimentos led a R$25m investment in Omie, an ERP platform targeting small businesses. Angel network Verus Group invested previously.

2B Capital SA agreed to acquire 34.8% of the shares of the hematology service provider and clinical laboratory Hemoterapia Brasil SA (H. Hemo), for an amount not disclosed. 

Brazil’s Magazine Luiza launches new PE fund headed by JP Morgan Vet Patricia Moraes and  will invest wealth from  controlling shareholders. Moraes will seek out minority stakes in Brazilian middle-sized companies valued at as much as 1.5 billion reais ($362 million).