- The fund will back purpose-driven entrepreneurs focused on developing innovative and technical solutions to some of Latin America's most pressing structural problems
- Lightrock is offering local institutional investors the opportunity to join one of its funds for the first time
- LGT Group are joined as anchor investors by the asset management arms of XP Inc. and Banco Bradesco, while other investors include Brazilian Development Bank (BNDES)
London, 07:00 BST, Wednesday 18th May 2022 - Lightrock, the global private equity platform that backs purpose-driven entrepreneurs tackling the world’s biggest challenges, has closed a new $300 million growth equity fund for Latin America, as part of its intention to significantly increase its investment in the region over the coming years.
Headquartered in London, UK, Lightrock currently has over $3 billion in assets under advice invested in 14 countries across Europe, the USA, Latin America, Asia and Africa. Lightrock’s team is comprised of more than 80 private equity professionals around the world, with teams located in Zurich (Switzerland), Bangalore (India), São Paulo (Brazil) and Nairobi (Kenya).
For the new Latin America fund, Lightrock’s anchor capital provider is LGT Group, one of Europe’s leading financial institutions with $295 billion in assets under management. However, this latest fund also sees Lightrock welcome local investors, including Bradesco’s and XP Inc.’s fund of funds, BNDES, as well a selection of local family offices. The fund will offer its LPs co-investment opportunities, increasing total deployment to around $400m.
Since 2009, Lightrock has invested in more than 80 companies in more than 14 countries globally. In Latin America specifically, where the firm made its first investment in 2017, Lightrock has already deployed more than $400 million in companies such as Frete.com, Creditas, Dr. Consulta, Konfio, Buser, General Water, across four countries in sectors such as healthcare, education, financial services and transportation. Most recently, Lightrock’s investments across the region have included the Colombian Tul, the e-commerce platform that sells construction materials to small-sized retailers, the Chilean insurtech Betterfly and Dock, the pioneer in the banking market in Brazil.
Lightrock’s investment thesis covers three verticals; People (focusing on companies that have impact solutions for healthcare and education), Planet (sustainability and efficient use of natural resources) and Productivity (transforming finance and acceleration of business efficiency through technological innovation). The investment focus of this new fund will remain the same, while supporting a greater focus on the Latin American region.
Pål Erik Sjåtil, CEO and Global Managing Partner, said “Lightrock backs companies that have business models powered by innovative technologies, that generate a positive impact on people's lives, the environment or private sector productivity, and that are ready to scale. We see a lot of companies that meet these criteria in Latin America, and I’m delighted that Lightrock will be able to strengthen its investment in the region with this new dedicated fund.”
Marcos Wilson Pereira, Managing Partner and Head of Latin America at Lightrock commented “Lightrock’s investment in the Latin American market has developed very strongly; we have already deployed more than $400 million across 11 companies, and over the next two years we expect Lightrock’s total exposure in the region to exceed $1 billion. We will continue to back innovative and ready-to-scale businesses that contribute positively to society and the environment, thereby developing real solutions to structural problems.
Lightrock is a global private equity platform that backs purpose-driven entrepreneurs tackling the world’s biggest challenges. Since 2009, Lightrock has invested in companies that pursue scalable and tech-driven business models around the key impact themes of people, planet, and productivity/tech for good. Lightrock’s portfolio includes more than 80 high-growth companies in 14 countries across Europe, the USA, Latin America, Asia and Africa.