Cate ambrose


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TBLI CONFERENCE™ is the prime annual global networking and learning event on Environment, Social, Governance (ESG) and Impact Investing.

Monday and Tuesday, June 17-18, 2013

Paul Rose
Vice President of the Royal Geographical Society
Richard L. Kauffman
Chairman for Energy Policy and Finance for the State of New York - Governor of New York's Office and Cabinet - United States of America
Martin Rapaport is chairman of the Rapaport Group and founder of the Rapaport Diamond Report

Published in: Economy & Finance, Business
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Cate ambrose

  1. 1. Overview of Venture Capital and Impact Investing in Latin America TBLI Conference June 17, 2013 Cate Ambrose President & Executive Director Latin American Private Equity & Venture Capital Association New York October 7, 2011
  2. 2. LAVCA Overview Mission § To spur regional economic growth by advancing venture capital and private equity investment through programs of research, networking, investor education, the promotion of best investment practices, and the advocacy of sound public policy. Members § LAVCA’s membership is comprised over 150 firms which control assets in excess of US$50 billion, directed at capitalizing and growing Latin American businesses. § Some of the best known global and regional fund managers are members of LAVCA: LAVCA is supported by:
  3. 3. LAVCA Overview VC Member Firms and Partners
  4. 4. Research and Products 2012 LAVCA Industry Data and Midyear Reports § Cited in multiple publications including,,, Bloomberg BusinessWeek, Reuters, Private Equity International, and peHUB Wire. 2013 LAVCA Scorecard § Produced in collaboration with the EIU the LAVCA Scorecard ranks 12 countries based on 13 indicators. The Latin America PE VC Report The Latin America PE VC Report is the official newsletter of the Latin American Venture Capital Association. LAVCABase The Latin American Investor Network, is the only comprehensive online database of Latin America private equity and venture capital fund managers. Coller Capital / LAVCA LP Survey The first comprehensive survey of Latin American PE of its kind, providing a unique perspective of the issues and opportunities facing private equity investors in the region.
  5. 5. LAVCA Scorecard Countries are ranked based on the following indicators • Laws on VC/PE fund formation and operation • Tax treatment of VC/PE funds and investments • Protection of minority shareholder rights • Restrictions on local institutional investors • Protection of intellectual property rights • Bankruptcy regulation • Capital market development and feasibility of local exits • Registration/reserve requirements on inward investments • Corporate governance requirements • Strength of the judicial system • Perceived corruption • Use of international accounting standards • Entrepreneurship © 2013 LAVCA Scorecard
  6. 6. LAVCA Scorecard – 2013 Ranking Overall score – 0-100 where 100=best environment © 2013 LAVCA Scorecard
  7. 7. Trends on Fundraising and Investments © 2013 LAVCA Industry Data LatAm PE/VC Fundraising and Investments (in USD million, 2008-2012)
  8. 8. Investments by Country Central America 7 Deals $58m Other countries: 14 Deals/ $333m PE/VC Investments by Country (2012) Mexico 21 Deals $684m Brazil 148 Deals $5,832m Chile 14 Deals $398m Peru 12 Deals $269m Colombia 14 Deals $413m Argentina 8 Deals $63m © 2013 LAVCA Industry Data
  9. 9. A New Era for VC Investments Seed, Early and Expansion Stage Investments (in # of deals, 2010-2012) Seed, Early and Expansion Stage deals grew 47% in 2012 compared to 2011. © 2013 LAVCA Industry Data Brazil accounted for 2/3 of VC investments, followed by Chile (10%) and Argentina (6%).
  10. 10. A new generation of IT deals Deals in the IT Sector in Latin America (in # of deals, 2008-2012) © 2013 LAVCA Industry Data The number of IT deals in Latin America have grown faster than any other sector in the last five years, driven by early stage investments
  11. 11. The Ecosystem explodes in LatAm Incubators & Business AcceleratorsPublic Support Angel Investor Networks
  12. 12. 2012 Coller Capital/LAVCA Latin American Private Equity Survey Governance and alignment in Latn American PE compare well with PE Overall 2012 LatAm PE/VC Fundraising © 2012 LAVCA LP Survey
  13. 13. 2012 Coller Capital/LAVCA Latin American Private Equity Survey Investors foresee increased importance for ESG in Latn American fund selecton 2012 LatAm PE/VC Fundraising © 2012 LAVCA LP Survey Likelihood ofESG growing importance in Latin American fundselectionover 2-3 years –LPviews
  14. 14. UNPRI Signatories Total Investment Managers Globally: 743 Signatories Signatories to the UN Principles for Responsible Investment Brazil 30 Signatories Investment Managers Peru 1 Signatory – Investment Manager PRI Association
  15. 15. Trends in Impact Investing © 2012/ 2013 LAVCA Industry Data + Food Industry Financial Services Housing Projects Job Creation
  16. 16. Thank You! Cate Ambrosea President @lavca_org