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Dealflow.la #59 - Massa-Milei runoff 🇦🇷, Neymar 🇧🇷 out for surgery, Security concerns at Pan-Am Games 🇨🇱, Narco-zoos 🇪🇨, Priests 🇳🇮 expelled to Rome 🇮🇹, & Anti-copper mine protests 🇵🇦.
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Valuelist 🇨🇱 raised a $600,000 Pre-Seed round led by Synapse XTL 🇺🇸 to develope a wealth technology designed to arrange investments, pension funds, and real estate assets. The company's technology offers wealth consolidation services and real-time monitoring of investment performances, enabling advisors and family offices to provide their clients with a consolidated overview of their investments and to visualize the performance of their assets in a simple and user-friendly way.
Plurall 🇨🇴 raised a $1 Million Seed round from Krealo 🇵🇪 to offer micro and commercial lending products, mobile payment solutions and other financial services, technology, data science, and a hyper-focus on customers to deliver mission-critical financial services, helping entrepreneurs and small and mid-size enterprises (SMEs) who are left out, through digital-first banking and financial services.
Vopero 🇲🇽 raised a $4 Million Venture round led by Cencosud Ventures 🇺🇾 to operate an online retail firm intended to re-circulate fashion. The company works on a circular garment rotation system and allows customers to buy and sell unique fashion, sustainably at prices cheaper than stores, enabling users to promote a more conscious fashion consumption.
CondoConta 🇧🇷 raised $5.8 Million led by EXT Capital 🇧🇷 to continue building their digital financial platform designed to offer transparency in the financial management of condominiums. The company's platform works through its application available for iOS and Android devices and includes services like deposit accounts, money transfers, bill payments, and tracking of revenues, enabling customers to manage their bank accounts from their mobiles in the comfort of their homes made for property managers and residents.
Nexu 🇲🇽 raised a $20 Million Series B led by Valor Capital Group 🇺🇸, with funding from Wollef 🇲🇽, Gilgamesh Ventures 🇺🇸, FJ Labs 🇺🇸, FinTech Collective 🇺🇸, Endeavor Catalyst 🇺🇸, Clocktower Technology Ventures 🇺🇸, CAPEM Mexico 🇺🇸, & Altos Ventures 🇺🇸 to continue building their digital marketplace intended to connect people with businesses. The company's platform allows browsing products and services and generates sales and rewards by using e-wallet credit or top-up using PayPal or credit card, enabling business owners with a risk-free way to grow their business.
Massa-Milei runoff shocks Argentina's bond market. Overseas notes plummet post-election. Unexpected strong Massa support leads to second round against Milei, feared by investors. Milei proposes dollarizing economy. Massa rebounded after August primary loss. (Bloomberg)
Economy Minister Sergio Massa leads early results in Argentina's presidential election, surprising many who expected a right-wing populist win. Massa held 36.2% versus Milei's 30.3%, pushing a second round. Pre-election polls inaccurately favored Milei, who promises state overhaul, including dollarizing the economy. The election outcome will either continue Argentina's center-left governance or introduce profound changes amid economic challenges. While Massa seeks stability, Milei opposes socialism, feminist policies, and abortion, drawing both strong support and criticism. The election reflects Latin America's broader political shift and anti-establishment sentiment. (Politico)
Javier Milei, a libertarian, unexpectedly trailed in Argentina's presidential elections, moving to a runoff against Sergio Massa, the center-left economy minister. Despite leading in polls for months, Milei secured 30% of votes against Massa's 36.6%. Massa promises stability and has been in Argentine politics for over two decades. Meanwhile, Milei's radical proposals include eliminating the Argentine central bank and adopting the U.S. dollar. Argentina's economic distress, marked by skyrocketing inflation and a plummeting peso value, has drawn significant attention to the election. (New York Times)
Bolivian officials are pursuing a 30-year prison sentence for ex-president Jeanine Anez for alleged genocide related to post-election protest deaths in 2019. Anez previously received a 10-year sentence for orchestrating a 2019 coup. (VOA)
Brazilian President Lula vetoed key parts of a bill that could have compromised Indigenous land rights. He rejected the notion that Indigenous claims to land had to be established by October 5, 1988. The move is seen as a win for Indigenous rights advocates. (AP)
Fernanda Guardado, Brazil's central bank director of international affairs and a noted hawk, has requested reappointment to her position, despite differing policy views from President Lula. (Bloomberg)
GM workers in Brazil strike against recent layoffs. The action follows GM's workforce reduction due to decreased sales and exports. The Sindmetal union demands job stability until May 2024. GM confirmed layoffs but emphasized operational agility. (Reuters/Yahoo)
Brazilian footballer Neymar requires surgery after tearing his ACL and meniscus during a World Cup qualifying match against Uruguay. The 31-year-old recently joined Saudi club Al Hilal from Paris Saint-Germain. The injury may sideline him for months. (Al Jazeera)
Chilean traders adjust their interest rate forecasts after the central bank acknowledges the peso's recent decline. Expectations are for a rate cut to 8.25% by year-end and 6% by next October. (Bloomberg)
The National Stadium in Santiago, Chile, set to host the Pan American Games' opening ceremony, holds a dark past as a site of torture and killings 50 years ago. Despite the painful history, many Chileans hope the event will highlight and educate about the past, aiming for national healing and unity. (AP)
TV equipment was stolen from the Pan American Games' National Stadium site in Chile, raising security concerns. Although some stolen items were retrieved and an alleged thief arrested, the incident amplifies existing worries about rising crime in the country. (AP)
Colombia's President Gustavo Petro's remarks on Gaza strain longstanding military relations with Israel. Israel suspends defense exports to Colombia after Petro equated Israel's Gaza actions with Nazi Germany. Suspension endangers contracts and threatens Colombia's military capabilities against domestic threats. (AP)
Colombia's government and FARC-EMC rebels signed a three-month cease-fire and initiated peace talks, aiming to stabilize rural regions. The agreement includes a halt to civilian attacks and potential UN cease-fire monitoring. (ABC)
Daniel Noboa, at 35, is set to be Ecuador’s youngest president. Inheriting a banana industry fortune, he won a historic, abbreviated 18-month term due to a constitutional mechanism. Facing challenges like a recovering economy and rising crime, Noboa must navigate with limited political backing. Additionally, he confronts suspicions of continuing the conservative trend started by the previous president. Experts suggest he should prioritize security, corruption, and economic growth. However, the short tenure could prove restrictive for substantial change. (Al Jazeera)
Ecuador's drug lords, mirroring Colombia's Pablo Escobar, are building private, illegal "narco-zoos" as status symbols, resulting in the mistreatment of various wild animals. This trend coincides with the rise of Ecuador's underground drug industry. The animals, including jaguars and birds, often can't return to their natural habitats after rescue. This illicit activity signifies a trafficker's power and rank within organized crime networks. The phenomenon poses environmental and ethical concerns, as many animals suffer severe physical and psychological harm. (CBS)
🇸🇻 El Salvador
Salvadoran President Nayib Bukele anticipates an agreement with the International Monetary Fund (IMF) regarding a new financing program after next year's general elections ending in March. Recent negotiations have been productive. (Reuters / US News)
Guatemala's attorney general, Maria Consuelo Porras, is devising strategies to hinder President-elect Bernardo Arevalo from assuming office, amid a national political crisis. Protesters blame Porras for the disruption, leading to international condemnation, especially from the U.S. Arevalo's victory has been met with resistance from the established political order. (Reuters)
Former U.S. ATF investigator, Jose Luis Meneses, allegedly trafficked guns to Mexico in 2017. U.S. Senator Charles Grassley's letter suggests the ATF didn't fully investigate, potentially straining U.S.-Mexico relations. Meneses admitted to buying and smuggling firearm parts. (NBC)
Bruno Plácido, leader of a civilian "self-defense" group in Mexico, was killed in Chilpancingo. His death follows other vigilante leaders' killings, raising concerns over cartels infiltrating self-defense groups and escalating regional violence. (ABC)
Remittances to Mexico face challenges due to the strengthening of the Mexican peso against the U.S. dollar. The increased value of the peso, termed the "super peso," and inflation have reduced the buying power of remittances in Mexico. This has prompted many in the U.S. to send more money to maintain previous support levels. (CNBC)
Mexican real estate investment trust Fibra Uno Administracion SA is preparing for an IPO of its segment, Fibra Next, targeting industrial properties. This could be Mexico's largest IPO in over five years, capitalizing on the rising demand for industrial spaces in Mexico. (Bloomberg)
Nicaragua's government has released 12 jailed Catholic priests and sent them to Rome after negotiations with the Vatican. This move follows accusations against the Catholic Church of supporting anti-government protests in 2018. Jailed Bishop Rolando Alvarez, a critic of the government, was not among those freed. (Al Jazeera)
Protesters in Panama opposed a contract extension for a major copper mine, fearing environmental threats. Led by teaching and construction unions, demonstrators cited concerns for forests and groundwater. While some protests remained peaceful, others faced police tear gas. The government emphasized the mine's economic importance, accounting for 3% of Panama's GDP. Despite potential economic benefits, opposition remains strong, emphasizing environmental and sovereignty concerns. (AP)
After months of denial, Peru's finance ministry confirmed the country is in recession. Despite prior claims of an impending recovery, economic activity has dwindled, leading analysts to slash their annual growth forecasts. Peru previously thrived as Latin America's standout economy. (Bloomberg)
Corredor Logistico Multimodal (CLM) is negotiating with three global energy firms about creating hydrogen-based products at a proposed $1.6 billion deepwater port on Uruguay's Atlantic coast, near potential wind-energy sources. (Bloomberg)
The US is relaxing sanctions on Venezuela's oil, gas, and gold sectors after an election monitoring agreement between Venezuela's government and opposition. Although other sanctions remain, the US emphasizes potential reversal if the electoral agreement fails. This move follows Venezuela's heavy sanctions since 2019 and aims to ensure a fair election process for all candidates, including emigrant Venezuelans. Relations between the two countries have improved under President Joe Biden, benefiting both economically. (BBC)
Venezuela's sovereign bonds surged after the US lifted its ban on secondary market trading of some Venezuelan eurobonds. This move follows an agreement between Venezuela's government and opposition parties concerning the 2024 election. Despite the surge, prices remain below pre-sanction levels. The US's decision surprised bond investors since negotiations between the government and opposition are only restarting. The future depends on Venezuela's adherence to the agreed political commitments and ensuring fair elections. (Reuters)
María Corina Machado, former Venezuelan lawmaker and longtime government critic, dominated the opposition's presidential primary, securing over 90% of the votes. Despite not being officially declared the winner yet, she's significantly ahead of other candidates. This election showcases Venezuelans' desire for an alternative to President Nicolás Maduro's leadership. However, Machado faces challenges, as the government previously barred her from running for office. The international community will closely watch the next moves, particularly any potential reversal of Machado's ban. (ABC)
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