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LGT’s Lightrock closes $300m Latin American-focused fund

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Published: 27 May 2022

Private equity firm Lightrock, owned by LGT Group, has raised $300m for its latest fund which will back purpose-driven entrepreneurs across Latin America, as part of its plans to increase investments in the region

Lightrock plans to increase its exposure to Latin America over coming years | Photo by blackdovfx on iStock

Impact investor Lightrock, owned by the Liechtenstein royal family’s LGT Group, says has closed a new $300m (€279m) private equity fund targeted at Latin America.

LGT Group is the anchor investor for the Latin American fund. Other investors include Brazilian firms Bradesco, XP Inc, and the Brazilian development bank BNDES, as well a selection of local family offices.

UK-based Lightrock invests in companies that offer solutions in three key areas: healthcare and education, sustainability and efficient use of natural resources, and finance and acceleration of business efficiency through technological innovation.

The company said it plans to significantly increase investment in Latin America over coming years. Having made its first investment in the region in 2017, it has already deployed more than $400m here, in sectors including healthcare, education, financial services and transportation across four countries.

Recent Latin American investments include Tul, a Colombian-based e-commerce platform that sells construction materials to retailers, Betterfly, a Chilean insurance tech company, and Dock, a Brazilian digital payments and banking platform.

“Lightrock backs companies that have business models powered by innovative technologies, that generate a positive impact on people’s lives, the environment or private sector productivity, and that are ready to scale. We see a lot of companies that meet these criteria in Latin America,” said Pål Erik Sjåtil, Lightrock’s CEO.

Marcos Wilson Pereira, Lightrock’s head of Latin America said he expected the company’s total exposure in the region to exceed $1bn over the next two years. “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,” he said.

Founded by its chairman Prince Max von Liechtenstein, Lightrock has over $3bn in assets under advice invested in 14 countries across Europe, the US, Latin America, Asia and Africa. Its globally- oriented Lightrock Growth Fund I closed at $900m in July 2021, with investments from LGT and its private clients.

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