General Atlantic. Facebook Twitter Google + LatAm Venture Bulletin. About General Atlantic. Contxto – Singapore fund GIC and General Atlantic recently made undisclosed investments in Hotmart, a Brazilian online platform for digital courses and products. São Paulo, Brazil — May 13, 2019 — General Atlantic, a leading global growth equity firm, announced today that Pedro Parente will join the firm as Chairman of Brazil, as of June 18, 2019. Investors recognise the climate in Brazil is ready for disruption in banking, a country with notably high interest rates and less choice of banks. See here for a complete list of exchanges and delays. Both General Atlantic and SoftBank will hold a minority stake in Acesso Digital after the investment. We partner with leading entrepreneurs and innovative growth companies to deliver value for our family and institutional capital partners. General Atlantic buys stake in Brazil’s Pague Menos. “The Brazilian banking industry is ripe for change, and Neon is providing new solutions that are resonating with Brazilian customers,” says General Atlantic’s principle Luiz Ribeiro. General Atlantic has made a minority equity investment in Qualicorp Group, a Brazilian provider of healthcare brokerage and benefits administration services. In this newly created advisory role, Mr. Parente will work closely with General Atlantic’s Latin American investment team to support its portfolio companies in the country to scale and grow both regionally and internationally. Vorhoff also played an active role in the firm's successful investments in NYSE Euronext, RiskMetrics Group, and Grupo Qualicorp in Brazil. In 2007, Linx was listed for the 3rd time in the Valor 1000 annual report, which lists the 1000 biggest Brazilian companies. Photographer: Yasuyoshi Chiba/AFP via Getty Images. Our Standards: The Thomson Reuters Trust Principles. The General is a fantastic merc! Growth-equity firm General Atlantic has led a $300 million funding round for Brazilian financial technology company Neon Pagamentos to help foster the company’s continued growth. According to the American technology consulting firm IDC, Linx retains 40.2% of the retail management software in Brazil. Cristiane Lucchesi. In March, Geru introduced payroll loans, under which employers discount installments from pay checks, in a partnership with French bank BNP Paribas's BNPP.PA Cetelem consumer credit unit. General Atlantic buys stake in Brazil’s Pague Menos. Geru charges consumers average interest rates between 36.1 percent and 98.8 percent annually, according to its website, stratospheric by U.S. and European standards but much lower than conventional Brazilian banks, whose rates average 126 percent annually, according to central bank data. 1 like. The advisory position will help lead General Atlantic’s portfolio companies in Brazil. Geru charges annual rates of between 25.8 and 29.9 percent on such loans. The acquisition will give the US private equity firm 2 seats on the board of the Brazilian company responsible for building more than 500 data centers in Brazil and Latin America as a whole, says a spokeswoman for General Atlantic. Pague Menos has more than 1,100 stores and was founded in 1981 by Francisco Deusmar de Queiros. General Atlantic is headquartered in New York, NY and has 15 office locations across 11 countries. US private equity fund nets 17% stake in Brazilian drugstore chain Brazil M&A. The company plans to use the new capital to triple the number of its customers in 2020. U.S. private equity firm General Atlantic LLC and Japan’s SoftBank Group Corp are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday. Colonial Pipeline Paid Hackers Nearly $5 Million in Ransom, Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths, Singapore Moves Back Toward Lockdown as Virus Cases Rise, Cryptocurrency’s Value Surges to $45 Billion One Day After Its Debut, Colonial Restarts After Cyberattack But Fuel Curbs to Linger. General Atlantic has appointed Pedro Parente to the newly created position of Chairman of Brazil. General Atlantic owns a 17% stake in the company, according to a regulatory filing. The LatAm Venture Bulletin is a must-read roundup of startup deals and news on emerging technologies in Latin America, delivered to over 6,000+ investors, entrepreneurs, and corporates bi-weekly. SAO PAULO (Reuters) - U.S. investment firm General Atlantic is in talks to buy a minority stake in closely held Brazilian online lending startup Geru Tecnologia e Serviços SA, according to two sources with knowledge of the matter. General Atlantic-Backed Brazil Firm Mulls Below-Range IPO By . Today (25), Brazilian healthtech Conexa Saúde announced its Series B for R$40 million (~US$7.5 million) through General Atlantic, e.Bricks Ventures, as well as angel investors Luiz Fraga and his son, Guilherme Fraga. They’re also earning investments. Vinicius Andrade, Rachel Gamarski, and . U.S. private equity firm General Atlantic LLC and Japan's SoftBank Group Corp <9984.T> are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday. General Atlantic, a leading global growth equity firm, announced today that Pedro Parente will join the firm as Chairman of Brazil, as of June 18, 2019. Subscribe to the Crunchbase Daily. Global growth equity firm General Atlantic appointed Pedro Parente as Chairman of Brazil, as of June 18, 2019.. In 2012, General Atlantic acquired a stake in online brokerage XP Investimentos SA, which it partially sold to Itaú Unibanco Holding SA, In March, Geru introduced payroll loans, under which employers discount installments from pay checks, in a partnership with French bank BNP Paribas's. As Geru has no deposits, it funds itself by issuing domestic bonds to raise money and lend to consumers. In 2012, General Atlantic acquired a stake in online brokerage XP Investimentos SA, which it partially sold to Itaú Unibanco Holding SA ITUB4.SA in a $1.89 billion deal last year. The acquisition of a stake in Geru would follow other similar investments by General Atlantic in Brazilian financial companies challenging the country’s six dominant banks, which together control 80 percent of assets in its financial system. General Atlantic owns a 17% stake in the company, according to a regulatory filing. General Atlantic has brought on Fernando Marques Oliveira as managing director to head up the firm's Latin American investment programme and its office in Sao Paolo, Brazil. The proceeds will be used to fund loans and technology projects, one source said, asking not to be identified because discussions are still private. The pricing is scheduled for Monday and no decision has been made yet, the people said. Empreendimentos Pague Menos SA, a Brazilian drugstore chain with private equity firm General Atlantic among its backers, is considering selling shares next week below a targeted range on low demand, according to three people with direct knowledge of the matter. Before it's here, it's on the Bloomberg Terminal. Since 1980, we have identified disruptive businesses with transformative potential and helped them scale globally. Pague Menos has more than 1,100 stores and was founded in 1981 by Francisco Deusmar de Queiros. General Atlantic has acquired a minority stake in Aceco TI, a leading Brazilian data center provider, it says. Have a confidential tip for our reporters? Financial Service. Mr. Parente is the CEO of BRF Food Group, the ex-CEO of Petrobras, and has served in the administrations of several Brazilian presidents. General Atlantic has agreed to provide development capital to SAS Sistema de Ensino, a K-12 learning system provider, making it the eighth Brazilian company to receive GA's direct backing.SAS provides a suite of integrated and technology-enabled services to educational institutions including curriculum content, teacher training and consulting services. U.S. private equity firm General Atlantic LLC and Japan's SoftBank Group Corp are leading a 580 million reais ($107.25 million) funding round in Brazilian facial biometrics and digital admission company Acesso Digital, it said in a statement on Monday. Both General Atlantic and SoftBank will hold a minority stake in Acesso Digital after the investment. Facebook is showing information to help you better understand the purpose of a Page. Linx S.A. is a Brazilian management software company and the largest software house in retail management systems in Latin America. 0. Brazil General Atlantic XP Investimentos. His skills scale to his level. December 23, 2015 | Aaron Weinman. – USA, CT – General Atlantic, a leading global growth equity firm, announced today that Pedro Parente will join the firm as Chairman of Brazil, as of June 18, 2019. U.S. investment firm General Atlantic is in talks to buy a minority stake in closely held Brazilian online lending startup Geru Tecnologia e Serviços SA, according to two sources with knowledge of the matter. No financial terms were disclosed. General Atlantic (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies. See the full list at Craft. Pague Menos considering selling shares below range on Monday, General Atlantic owns a 17% stake in the Fortaleza-based firm. GA is headquartered in New York, New York. General Atlantic, a leading global growth equity firm, announced today that Pedro Parente will join the firm as Chairman of Brazil, as of June 18, 2019. Pague Menos and General Atlantic declined to comment. The Fortaleza, Ceara state-based company may price its initial public offering below the indicative range of between 10.22 reais to 12.54 reais a share since interest from investors at those levels has been below expectations, the people said, asking not to be named because the discussions are private. Editing by Christian Plumb and James Dalgleish. General Atlantic is a global growth equity investor. Other investors may join General Atlantic, the sources said, adding that Geru’s partners have spent the last few weeks visiting funds in San Francisco and New York to raise about $50 million. General Atlantic, which has been in Brazil for 10 years, appears to be making a bet on an expanding financial services sector and middle class even as the country’s growth continues to weaken and it continues to have difficulties improving competitiveness. Adds General Atlantic’s no comment in fourth paragraph. Former General Atlantic advisor for Brazil Marcelo Kayath, now a partner at Geru, is leading the consumer lender’s efforts to find fresh funds. Neon, which operates a digital bank in Brazil, has reportedly raised $94 million in funding in a round led by Banco Votorantim and General Atlantic, according to a news report from Brazilian publication Estadao.. Email Address * First Name * Former General Atlantic advisor for Brazil Marcelo Kayath, now a partner at Geru, is leading the consumer lender’s efforts to find fresh funds. General Atlantic is a private equity general partner firm headquartered in New York, NY, United States and has other offices in Brazil, China, Germany, Hong Kong, India, Singapore, United Kingdom and United States. The firm was founded in 1980 as the captive investment team for Atlantic Philanthropies, a philanthropic organization founded by Charles F. Feeney, the billionaire co-founder of Duty Free Shoppers Ltd. Itau BBA, Credit Suisse Group AG, JPMorgan Chase & Co., Santander Brasil , XP Investimentos and BB Investimentos are the banks managing the deal. Another option could be to delay or cancel the IPO, one of the people said. All quotes delayed a minimum of 15 minutes. Following the deal, the Brazilian company plans to hire an additional 600 employees by 2021 and to accelerate international growth. Itau BBA, Credit Suisse Group AG, JPMorgan Chase & Co., Santander Brasil, XP Investimentos and BB Investimentos are the banks managing the deal. 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