Participated · Equity · Jan 2024

Tembici develops and operates technology-driven bike-sharing networks, offering both conventional and electric bicycles to urban commuters throughout Latin America. The company positions itself as the regional leader in shared micromobility and plans to use new capital to acquire thousands of additional bikes and broaden its footprint in current and new Brazilian cities. Its three-year, R$274 million investment plan also earmarks resources for R&D and smart-city initiatives such as sharing traffic, location, weather and pollution data with public authorities. Part of the funds will expand production capacity at Tembici’s assembly plants in the Manaus Free Trade Zone and in Extrema, Minas Gerais. By integrating climate-focused financing, the firm underscores its commitment to reducing emissions and promoting sustainable urban transportation. Although no specific revenue or user metrics were disclosed, the company highlights continued growth and leadership in the Latin American micromobility market.

Led · Series A · Aug 2023

Wonder Brands pivoted from buying established sellers to acquiring e-commerce infrastructure and developing its own digital brands across marketplaces like MercadoLibre and Amazon. The company uses marketplace data plus AI-driven operations, marketing, analytics, supply-chain and working-capital tools to create and scale products. In the past 12 months it launched more than 15 brands and introduced over 2,000 SKUs, with plans to double SKUs in the next year and enter new product categories. Wonder Brands reached profitability in 2022 and is generating over $100 million in annualized revenues with an annual growth rate exceeding 100%. It currently operates in Mexico, Colombia, Chile, Argentina and Uruguay and plans to use new capital to expand into the rest of South America, hire staff, build distribution channels and invest in go-to-market. Wonder Brands acquires digitally native sellers on MercadoLibre, Amazon and other marketplaces and uses technology and operating support to scale them. The company offers category and brand management, marketing and performance, inventory and logistics automation, and channel operations. It focuses on home & garden, sports & fitness, and beauty & personal care. Founded in January 2021 by Nicolás Gonzalez Luna and Federico Malek, the company currently has 20 employees and plans to triple headcount in the next month. Wonder Brands targets larger sellers (at least $5M in revenue) using a buy-and-build approach rather than pure consolidation. The company aims to reach $55 million in revenue by year-end and $100 million within the following 12 months, and plans to begin operations in Brazil by the end of 2021.

Participated · Series D · Aug 2023

Dr.Consulta operates a digital-first healthcare ecosystem that includes an electronic medical record, clinician-created protocols based on international standards, data intelligence and use of artificial intelligence to integrate the patient journey from initial consultation to high-complexity care. The company says its model resolves roughly 80% of patient needs within its clinics, referring patients to credentialed hospitals only when necessary. Over the past two years Dr.Consulta averaged about 2 million visits and reported 14.5% growth in the first half of 2023 versus the second half of 2022. The startup positions itself to further strengthen its presence in the telemedicine market following its latest fundraise. Its platform and clinical protocols are a core part of its value proposition to improve access to higher-quality, technology-enabled healthcare in Brazil. dr.consulta is a healthtech that provides consultations, exams and a coordinated primary-to-secondary care ecosystem through physical clinics and digital tools. The company operates a proprietary electronic medical record, clinical protocols and in-house data intelligence to coordinate patient journeys. It reports approximately 4.5 million registered users (about 30% of São Paulo’s population) and achieved R$310 million in revenue in 2021 with positive EBITDA margin. dr.consulta says its semi-verticalized model resolves about 80% of patient needs in-house and focuses on clinical outcomes and patient satisfaction (medical satisfaction 90% and NPS 84). Future plans include consolidating and expanding its health-and-technology ecosystem, scaling an owned health-plan offering via a partnership with cuidar.me, and continued investment in technology and clinical innovation.

Led · Series B · Jan 2023

GoTrendier is a Mexico-based e-commerce marketplace focused on second-hand clothing. The platform operates in the resale apparel sector, facilitating transactions of pre-owned garments. The article reports the company raised roughly USD15 million in a Series B financing. The round was led by IDB Invest, Creas Impacto and IDC Ventures, with follow-on from IGNIA Partners and other investors. The article does not disclose revenue, user metrics, or specific future plans. Sources cited include IDB Invest and Flow Partners. GoTrendier operates an online marketplace for secondhand clothing. The platform reports more than one million users and a catalogue valued at over $47 million. The company will use the funds to continue growing in Mexico and Colombia, open in Chile, reinforce its team, and introduce new features to scale. The article places the business in the internet sector and notes this is the company's third financing round. It also cites the broader secondhand clothing market as having billed more than 360,000 million in 2017 and expected to reach 400,000 million by 2022. GoTrendier is based in Mexico. Trendier operates a marketplace and mobile app focused on women's fashion, described in the article as the largest such marketplace in Mexico. The app lets sellers list items in three clicks and buyers search and negotiate prices. As of the report, Trendier had more than 200,000 registered users and users upload over 1,000 products daily. The company already operates in Colombia and was seeing promising growth there. In December 2016 Trendier closed a financing round of €1 million. The funds were earmarked to expand its model across Mexico and to export the business to Colombia.

Led · Series C · Jul 2021

Merqueo operates a full-stack, on-demand online supermarket that sources directly from large brands and local suppliers and delivers from a network of dark stores. The platform offers more than 8,000 products spanning fresh foods, packaged goods, home essentials, beverages and frozen items. It currently operates in more than 25 cities across Colombia, Mexico and Brazil and serves over 600,000 users. The company reports being close to $100 million in run-rate revenue, grew more than 2.5x in 2020, and reached positive cash flow in Colombia, its most mature market. Merqueo has roughly 1,300 employees and says owning the vertical supply chain gives it better margins and healthy unit economics. The startup plans to use new capital to accelerate geographic expansion in Brazil (starting with Sao Paulo) and to build the largest dark-store network in Latin America.