Latin America Data Insights (Mid-Year 2020)
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Despite the difficulties introduced by COVID-19, year-over-year fundraising increased 30%
Fundraising for Latin America-focused private capital funds saw a 30% year-over-year increase to USD1.7b in 1H 2020. Venture capital (VC) and private credit funds accounted for 67% of all capital raised in 1H 2020. Within the private credit sphere, Promecap issued an MXN6b (USD319m) credit special situations CKD, and Blue Like an Orange raised over USD200m for its first regional mezzanine fund. Also contributing to fundraising totals were XP’s inaugural BRL1.3b (USD282m) private equity (PE) fund, IG4 Capital’s USD232m equity special situations fund, and Redpoint eventures’ USD174m second early-stage fund. As fund managers and LPs navigate uncertainty surrounding the COVID-19 crisis, some fund managers were able to leverage existing LP relationships while many opted to postpone fundraising efforts until 2H 2020 or 2021.