Dealflow.la #58 - President Alberto Fernández 🇦🇷 launches investigation into Milei 🇦🇷, Third MLB 🇺🇸 facility in DR 🇩🇴 robbed at gunpoint, & Galgo 🇨🇱 raises $40 Million.

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Funding

Sling Hub 🇧🇷 raised a $895,000 Seed round from Urca Angels 🇧🇷 to build a data intelligence platform designed to organize information about the ecosystem and facilitate interaction among its players. The company's platform helps access the ecosystem straight from a browser, create searches, and filters, and receive updates, enabling clients to have a gateway to startup data, rounds, deals, investors, and market analysis.

Bia Energy 🇨🇴 raised a $10.5 Million Series A led by Kaszek 🇧🇷, with funding from Nazca Ventures 🇨🇱, WildSur 🇨🇱, and EWA Capital 🇨🇴 to continue building their virtual energy marketing platform intended to serve as the point of contact between users and the rest of the electricity sector. The company allows users to track energy consumption and provides automatic monthly payment savings recommendations, and energy analysis, enabling users to make decisions that positively impact their business and the environment.

Galgo 🇨🇱 raised a $40 Million Venture Round led by Nazca Ventures 🇨🇱 with funding from WIND Ventures 🇺🇸, Kayyak Ventures 🇨🇱, güil Mobility Ventures 🇨🇱, FYNSA 🇨🇱, Dalus Capital 🇲🇽, & Buena Vista Capital 🇨🇱 to expand their financial service platform intended to provide financial support to migrants. The company's platform offers financial, credit, and insurance products that address the main needs of foreigners, enabling unbanked immigrants to revalidate their titles, buy a car, or pay the guarantee of the lease.

Sociopolitical News

🇦🇷 Argentina

• Far-right libertarian Javier Milei leads in the polls for Argentina's Oct. 22 presidential election, but the race remains closely contested among the top three candidates. While Milei champions radical economic reforms, gaining him support amid the country's financial struggles, his lead over rivals Economy Minister Sergio Massa and conservative Patricia Bullrich is slim, making a runoff round probable. Some voters view Milei's policies as too extreme, favoring more moderate options. (Reuters)

• Javier Milei, a right-wing populist and fervent critic of Argentina's political establishment, has become a front-runner in the country's presidential race. Advocating for radical economic reforms, including abolishing the Central Bank and dollarizing the economy, Milei's rise has been fueled by widespread economic hardships in Argentina, where over 40% of the population now live in poverty. Many see him as a hope for change, despite controversies surrounding his strong opinions on various issues. (ABC)

• Argentina's central bank increased its benchmark interest rate to 133% from 118% due to escalating inflation, which reached 12.7% monthly and 138% annually. This move occurs amidst a severe economic crisis and upcoming presidential elections on October 22nd. (Reuters)

• Lionel Messi may not play for Argentina against Peru in World Cup qualifying due to muscular pains, despite practicing with the team. In Brazil, Neymar faces criticism after a subpar performance in a draw against Venezuela, with fans expressing their frustration by throwing popcorn at him. (AP)

• A prosecutor in Argentina has accused presidential frontrunner Javier Milei of intentionally causing the Argentine currency's decline by advising against saving in pesos. Milei, leading the upcoming October 22 elections, denounced this as political persecution. President Alberto Fernández prompted the investigation, labeling Milei's actions as a threat to democracy. Milei, a critic of the establishment, advocates for dollarizing the economy in response to soaring inflation rates. (ABC)

• Argentine presidential candidate Patricia Bullrich seeks to reevaluate the nation's ties with China, challenging recent state loans and Beijing's growing influence in key sectors. Bullrich aims to maintain trade relations but ensure sovereignty. She opposes Argentina joining the China-dominated BRICS expansion and expresses concerns over Chinese infrastructure in Argentina. Polls show Bullrich's bloc trailing in upcoming elections. She criticizes contender Javier Milei's dollarization plan, proposing a dual currency system instead. Bullrich emphasizes restoring order in Argentina, currently facing economic and political challenges. (FT)

• Javier Milei, a libertarian leading Argentina's presidential race, faces backlash for his past criticism of Pope Francis, a national hero in Argentina. Despite his controversial remarks, Milei is popular, having won open primaries with 30% of the vote and currently leading in polls. While some Argentines are deeply offended by his comments, others support him, seeking change in the nation. (New York Times)

🇧🇴 Bolivia

• Deforestation in Bolivia has surged by 32% in a year, primarily due to the expansion of agribusiness, especially soya farming. Santa Cruz, Bolivia's most economically prosperous region, is at the epicenter, with its lucrative soya and beef industries driving the transformation of forests into farmlands. Despite the severe environmental consequences, including forest fires and biodiversity loss, both regional and national authorities continue to support and even subsidize these practices, motivated by significant economic gains and land value appreciation. (The Guardian)

🇧🇷 Brazil

• Brazil continues importing Russian diesel to stabilize fuel prices for motorists. Russia has become Brazil's primary fuel supplier, surpassing the US. Energy Minister Silveira anticipates no US objections to these imports. (Bloomberg)

• Brazil's government warns ranchers and farmers against setting fires in the Amazon, as smoke severely affects Manaus. Environment Minister Marina Silva condemns the fires as criminal actions linked to deforestation. A historical drought, intensified by El Nino, exacerbates the region's annual burning. 60 of 62 cities in northern Amazonas declare emergencies. Over 300 firefighters are deployed, and offenders face sanctions. Under President Lula, deforestation rates dropped 49.5% in 2023. Silva declares a "climate emergency" in Brazil. (Reuters)

• Abu Dhabi's Mubadala Capital plans to invest over $1 billion annually in Brazil, buoyed by its growth prospects. Having invested $5 billion since entering Brazil, the firm views the country as South America's most lucrative investment destination. (Bloomberg)

🇨🇱 Chile

• Chile, possessing the world's largest lithium reserves, is courting Japanese battery and metals companies for investment. In return, Chile offers long-term preferential access to lithium. The goal is to boost local processing and manufacturing skills. (Bloomberg)

• Canadian pension funds, including CPPIB, are contemplating selling their stakes in Chile's leading power-transmission company, Transelec SA, for an estimated $3 billion, targeting a 72% share of the utility. (Bloomberg)

🇨🇴 Colombia

• Colombia's government plans to invest $4.25 billion to purchase 1.5 million hectares of land for underprivileged farmers, aiming to enhance agricultural production and promote peace. This initiative is part of President Gustavo Petro's strategy to resolve Colombia's prolonged conflict over land rights. The National Land Agency's objective is to benefit around 150,000 families, offering them land for agricultural activities. The project will run until 2026. (Reuters / US News)

• The US criticized Colombian President Gustavo Petro for comparing Israeli government comments to Nazi remarks and urged him to condemn Hamas. Following a deadly Hamas attack, Israeli Defense Minister Yoav Gallant announced a "total blockade" on Gaza. Petro likened this to Nazi rhetoric, warning against hate speech leading to a "holocaust." The US condemned Petro's statements and highlighted Hamas's recent violent actions against Israelis. (Reuters)

🇨🇷 Costa Rica

• Costa Rica deemed Chinese firms a cybersecurity threat to 5G development. In response, the Chinese embassy in San Jose expressed concerns over eroding bilateral relations, calling the comments "irresponsible and unfounded." Costa Rican President Rodrigo Chaves had earlier restricted tech companies from nations not adhering to an international cybercrime convention. (Reuters / US News)

• Due to rising security concerns, Costa Rica introduced visa requirements for Hondurans. Honduras retaliated with a similar measure for Costa Ricans, emphasizing reciprocity. Both policies are effective from Tuesday. (Reuters)

🇩🇴 Dominican Republic

• The Dominican Republic reopened its border with Haiti for limited commercial activities after a month-long closure due to disagreements over a canal diverting water from a shared river. Despite the partial reopening, diplomatic tensions remain high between the two nations, with visa restrictions and a ban on certain exports still in place. The conflict arises from Haiti's construction of the canal, which the Dominican Republic claims violates a 1929 treaty and endangers shared water resources. The situation intensifies already complicated relations between the neighboring countries. (ABC)

• In a chilling pre-dawn raid, the St. Louis Cardinals' facility in the Dominican Republic fell victim to armed marauders, plunging the location into a nightmarish ordeal. Between the haunting hours of 12:30 a.m. and 4 a.m. on Friday, shadows infiltrated the compound, ruthlessly pilfering money, cell phones, jewelry, and baseball equipment. While no blood was spilled, the trauma was palpable; players and staff were left deeply shaken. With coaches held hostage at gunpoint, and players violently yanked from their sanctuaries, a palpable dread permeated the scene. The sinister episode is under intense scrutiny, especially in light of recent macabre incidents at the facilities of the Cleveland Guardians and Miami Marlins. The dark underbelly of Boca Chica, in the Santo Domingo province, has now been thrust into the spotlight. (CBS)

🇪🇨 Ecuador

• 35-year-old businessman Daniel Noboa won Ecuador's presidential election, becoming its youngest president. With 97% votes counted, he led by 4% over rival Luisa González. Amidst heightened violence, Noboa promised to restore peace and address Ecuador's security and economic issues. He'll serve till May 2025. (BBC)

🇸🇻 El Salvador

• El Salvador deployed over 4,000 security forces to three communities near the capital, targeting gang members. President Nayib Bukele, who's seeking extended emergency powers, has detained 72,000 alleged gang affiliates since 2022, facing both domestic support and international criticism. (ABC)

🇬🇹 Guatemala

• Pro-democracy hackers, linked to Anonymous, disabled multiple Guatemalan government websites supporting Indigenous-led demonstrations. Protesters seek the resignation of Attorney General Consuelo Porras, accusing her of undermining President-elect Bernardo Arévalo's vote. Authorities are treating the hacking as a "national security" incident. (NBC)

• Guatemala's President Alejandro Giammattei stated he can't remove Attorney General Maria Consuelo Porras, despite protests accusing authorities of obstructing the government transition. (Reuters)

• Tension escalates in Guatemala as pro-Arévalo protests enter their second week. Demonstrators demand Attorney-General Porras's resignation, accusing her of blocking Arévalo's presidency. Initially peaceful protests turned violent; infiltrators reportedly caused disturbances. (BBC)

🇭🇳 Honduras

• Honduras' anti-corruption unit indicts former presidents Juan Orlando Hernandez and Porfirio Lobo for diverting $12 million of public funds for political campaigns. The charges include fraud and money laundering. (Reuters / US News)

🇲🇽 Mexico

• "Extremely dangerous" Hurricane Lidia made landfall on Mexico's Pacific coast as a Category 4 storm, later downgraded to Category 2. One death reported; President Obrador deploys 6,000 troops for aid. (BBC)

• Mexico's President, Andrés Manuel López Obrador, has turned down a request from the U.S. to establish migrant transit centers within Mexico, akin to those in Guatemala where migrants can apply for U.S. work and refugee visas. Instead, López Obrador expressed a preference for these centers to be located in the primary countries of migrant origin. He intends to bring up this topic in an upcoming meeting with Latin American leaders, hinting at the possibility of a unified approach to handling the issue. The assembly, which will include leaders from 11 countries majorly affected by migration routes, is scheduled to be held later this month in Palenque, southern Mexico. (NBC)

• Many Americans are relocating to Mexico City, attracted by its cheaper cost of living and relaxed lifestyle. This influx has increased rents and displaced some locals, altering the city's dynamic. While the city offers a sense of community and safety for some, it's causing challenges for long-time residents, leading to gentrification concerns. (CNBC)

• The NHL is considering Mexico City for future international games, spurred by team interest in the market. Previously, the league ventured into non-traditional hockey markets like Australia. NHL teams, including the Coyotes, have shown enthusiasm for playing in Mexico, highlighting the country's potential for a passionate fanbase. Venue logistics remain a concern. (ABC)

🇺🇸 Miami

• Inter Miami, not qualifying for the MLS playoffs, has signed a deal to play two exhibition games in China against Chinese Super League teams. Matches will feature stars like Lionel Messi, with both games potentially generating significant ticket revenue, amplifying Inter Miami's global presence. (CBS)

🇵🇾 Paraguay

• Inmates at Tacumbú jail in Asunción, Paraguay released 22 prison guards after holding them hostage for over 15 hours during a riot. The Rotela Clan prison gang demanded Justice Minister Ángel Barchini's resignation, but negotiations remain unclear. The unrest followed Barchini's intent to reclaim prison control from the gang. (BBC)

🇵🇪 Peru

• 43 young Malaysians, trapped by a human trafficking syndicate running a telecommunication fraud in Peru, were rescued a week after arriving in Lima. Originating from Taiwan and China-based crime groups, the scam has seen hundreds of Malaysians deceived by job offers only to be coerced into online scams. The victims are awaiting repatriation after investigations. (ABC)

🇵🇷 Puerto Rico

• After multiple incidents of Puerto Ricans being denied services in the US due to misunderstandings about their identification, Puerto Rico has decided to add "USA" to its driver's licenses. This aims to emphasize Puerto Rico's status as a US territory and reduce confusion regarding Puerto Ricans' US citizenship. (BBC)

🇻🇪 Venezuela

• The US and Venezuelan governments are anticipated to announce a deal easing US sanctions on Venezuela's oil sector in exchange for Venezuela's commitment to its 2024 presidential elections. This follows multiple discussions to address Venezuela's prolonged political and economic challenges. (Reuters)

• The Biden administration and Venezuelan President Nicolás Maduro's government agreed to a deal where the U.S. will ease sanctions on Venezuela’s oil industry in exchange for Venezuela allowing a competitive, internationally monitored presidential election in 2024. (Washington Post)

• Russia expects Venezuelan President Nicolas Maduro to visit as they strengthen ties and explore further investments. Russia emphasizes the importance of oil cooperation with Venezuela and opposes Western political pressures using energy demands. (Reuters)

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