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Uruguayan fintech payments company dLocal, the country’s first unicorn, has raised USD617.65 million in its initial public offering, which started trading on Thursday on the Nasdaq under the symbol ‘DLO’.
Of the shares sold, close to 4.4 million were by dLOcal and 25 million by its existing investors. JP Morgan, Goldman Sachs, Citigroup and Morgan Stanley were the lead underwriters for the IPO.
Led by its 30-year-old CEO Sebastián Kanovich and headquartered in Uruguay, dLocal is the first unicorn to come out of one of South America’s smallest countries. Kanovich is a pioneer in the EM payments space, having spun off dLocal from AstroPay in January 2016.
The startup, whose high-profile backers include General
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By Mark Lynch, partner at Oghma Partners – The food industry appears to be going through a revolution in its structure which may turn out to be as far reaching as the shift to factory made processed foods which we saw in the 19th and 20th century, when the likes of John Cadbury and Henri Nestlé set up their businesses in the 1840’s and 1860’s, and the age of industrial food processing was born.
This change is occurring across the industry and incorporates areas which we would define as ‘low’ food tech – that is, changes from the way product is sold and distributed
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In this Private Equity Wire podcast, we catch up with private debt expert John Clifford, co-head of the UK private debt team at Muzinich & Co, to talk about some of the reasons why private debt is currently taking market share away from banks and how the private debt market is evolving, as well as why small companies, that would in the past have been more of a VC target, might now look to private debt instead.
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By Kyle Burrell, US FSO Assurance Partner, Ernst & Young LLP – Over the years, private equity fund managers have bolstered their firms’ reputations as the asset class of choice for investors, building strong value for their portfolio companies and fuelling job growth across a wide swath of industries.
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Frazier Healthcare Partners has closed Frazier Healthcare Growth Buyout Fund X, its 10th healthcare private equity fund focused on the middle market, a vehicle which was oversubscribed and hit its USD1.4 billion hardcap.
The capital came in from new as well as existing limited partners, including public pension funds, financial institutions, foundations and endowments, family offices, corporate pensions and sovereign wealth funds from investors based in the US, Europe, the Middle East and Asia.
“Our three decades of focusing on the healthcare industry, breadth and depth of our ecosystem and team resonated with both new and existing investors,” comments Ben Magnano,
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