London private equity firm Lightrock unveiled a fresh $300m Latin America fund today as it looks to spur growth in ‘purpose-driven’ entrepreneurs across the region.
Lightrock, which has over $3bn in assets under advice, said it plans to now “significantly increase” its investment in Latin America over the coming years.
The firm’s head of Latin America Marcos Wilson Pereira said the fresh funds would be pumped into firms tackling issues like education, health and sustainability, and would build on the firm’s existing investments in the region.
“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,” he said.
“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.
Liechtenstein-based LGT Group, which managed $295bn in assets, has provided anchor capital for the new fund, alongside local investors, including Bradesco’s and XP Inc.’s fund of funds, BNDES and a selection of local family offices.
Lightrock’s new commitment comes after the firm has deployed more than $400m in Latin America since 2017, across sectors such as healthcare, education, financial services and transportation.