Private equity giant Advent International announced, in late-September, the raising of a new $2 billion invesment fund aimed at Latin American companies, with a special focus on businesses in Brazil, Colombia, Mexico and Peru.
The firm manages other seven funds dedicated to the region, where it has been investing since 1996 in the finance, health, retail and technology sectors. With the depreciation of Latin American currencies to foreign investors during the Covid-19 pandemic, assets have become cheaper and even more attractive.
“LAPEF VII reflects our strong track-record in Latin America, established throughout six generations of funds and economic cycles in the region”, stated Patrice Etlin, Advent International’s Managing Partner in São Paulo and a member of its Global Executive Committee.
Earlier in September, financial startup Nubank acquired Advent-backed broker Easynvest in a cash and stock deal, which added an undisclosed minority stake of Brazil’s most prominent fintech to its assets.