Dealflow.la #69 - Noboa’s 🇪🇨 war on gangs, Bukele 🇸🇻 wins landslide relection, & Mexico 🇲🇽overtakes China 🇨🇳 as the leading source of goods imported by US 🇺🇸.
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Funding
Nuqlea 🇦🇷 raised a $750,000 Seed Round led by Fundamental VC 🇮🇳, with funding from Newtopia VC 🇦🇷 to build a construction ecosystem platform intended to build a digital network of construction and habitat. The company's platform provides an e-commerce website where businesses access customers through an intermediary but can interact directly under their own brand, enabling construction companies with a network of professionals, companies, brands and users to create the construction industry's future.
Techreo 🇲🇽 raised a $3.4 Million Seed round from G2 Momentum Capital 🇲🇽 and Creation Investments Capital 🇺🇸 to build a financial platform designed to offer services to non-banking clients. The company offers financial services such as savings, loans, insurance, and financial education, enabling unbanked and underbanked individuals to access financial services, and providing the ability to save and access credit.
PlayGreen 🇧🇷 raised a $6 MIllion Seed round from Vice Ventures 🇺🇸 to build a sportsbetting app for the Brazilian market.
Tenchi Security 🇧🇷 raised a $7 Million Series A round led by Banco Bradesco 🇧🇷, with funding from ONEVC 🇧🇷, MAYA Capital 🇧🇷, L4 Venture Builder 🇧🇷, Kinea Investimentos 🇧🇷, and Accenture Ventures 🇺🇸 to security management platform designed to connect companies and their value chains. The company reduces information asymmetry regarding information security and compliance risks in corporate ecosystems in a cooperative and scalable way, enabling clients to continuously monitor all relationships with technology suppliers in real-time, providing simplified decision-making.
PhageLab 🇨🇱 raised a $11 Million Venture round with funding from Nazca Ventures 🇨🇱 and Collaborative Fund 🇺🇸 to create antibiotic substitutes designed for the livestock industry. The company's medicines are designed to be used in industrial facilities as a food-grade additive, that is able to recognize pathogen bacteria specifically, without affecting the commensal flora, enabling food industries to selectively eliminate pathogenic bacteria with ease and increase productivity.
Sociopolitical News
🇦🇷 Argentina
Argentina President Javier Milei announced plans to relocate the country's embassy to Jerusalem during his first official visit to Israel, meeting Prime Minister Netanyahu and visiting significant sites, amidst reactions from various stakeholders. (Al Jazeera)
Argentinian President Javier Milei's ambitious economic reforms faced a significant setback in Congress, prompting a required revision and reflecting deep divisions over his deregulatory agenda amidst his trip to Israel. (France 24)
Javier Milei's ambitious economic reforms in Argentina face rejection from lawmakers, causing a rift in Congress and leading to a drop in bonds as investor confidence wanes, reflecting challenges in implementing his agenda. (Bloomberg)
🇧🇴 Bolivia
Fitch Ratings downgraded Bolivia's credit rating to CCC from B-, citing falling international reserves as a threat to debt servicing and macroeconomic stability. (Bloomberg)
🇧🇷 Brazil
Brazil's Petrobras is negotiating a long-term LNG deal with Qatar to reduce energy import costs and stabilize supply, amidst efforts to lessen reliance on the volatile spot market. (Bloomberg)
A Brazilian army colonel was arrested upon his return from the US in connection with a probe into an attempted coup linked to former President Bolsonaro's associates. (Reuters)
Brazil confronts its slavery legacy, with public discussions on reparations emerging amid apologies from institutions like the Bank of Brazil and movements for racial equality gaining momentum. (AP)
Brazilian police seized former President Jair Bolsonaro's passport and arrested several allies in a probe into an alleged coup attempt following his electoral defeat. (Al Jazeera)
🇨🇱 Chile
Massive forest fires in central Chile, particularly around Viña del Mar, have resulted in at least 112 deaths over three days, destroying homes and prompting curfews. (AP)
Former Chilean President Sebastian Pinera, aged 74, died in a helicopter crash in southern Chile, leaving the nation in mourning. Known for his public service and overseeing the rescue of 33 trapped miners, Pinera's death has prompted a national mourning period and plans for a state funeral. (Reuters)
🇨🇴 Colombia
To bolster its forces against Russia, Ukraine has been enlisting experienced Colombian soldiers, veterans of one of the world's longest conflicts, offering significantly higher pay to attract foreign fighters. (AP)
A Brazilian woman was arrested in Bogota, Colombia, for attempting to smuggle 130 endangered poisonous dart frogs, valued at up to $130,000, hidden in film canisters in her luggage. (CBS)
Colombia, typically accustomed to heavy rainfall, is grappling with widespread wildfires exacerbated by the hottest January in three decades, linked to climate change and El Niño. Over 600 firefighters, including volunteers, battle blazes nationwide, prompting the president to declare a national disaster and seek international aid. (New York Times)
US officials will visit Bogotá for high-level meetings amid tensions with Venezuela, a week after restoring sanctions on Venezuela's gold sector and discussing opposition participation in upcoming elections. (Bloomberg)
🇪🇨 Ecuador
Ecuador's President Daniel Noboa's war on gangs, using troops to patrol streets and enforce curfews in Guayaquil, has garnered widespread support amid a crisis of violence. However, experts caution that this aggressive approach risks civil liberties, drawing parallels to El Salvador's controversial tactics. Despite temporary peace, human rights violations have escalated, raising concerns about the long-term impact on democracy and the rule of law. (New York Times)
Ecuador faces a diplomatic crisis with Russia, banning some banana imports in retaliation for Ecuador's military equipment deal with the US, impacting a crucial market for the world's leading banana exporter. (AP)
Amid Ecuador's declaration of an "internal armed conflict" against drug gangs, U.S. retirees, drawn by the country's affordability and safety, face a new reality. The violence, centered in cities like Guayaquil, has prompted increased military presence and a curfew, challenging the sense of security that once attracted expatriates to retire in the peaceful Andean nation. (USA Today)
🇸🇻 El Salvador
Nayib Bukele won a landslide re-election as El Salvador's president, securing 83% of the vote amid applause for his tough stance on gang violence. His victory and New Ideas party's dominance raise fears of increased power and potential constitutional overhauls. Critics warn of long-term sustainability issues and risks to democracy. (Reuters)
🇬🇹 Guatemala
Facing little congressional support and an active pursuit by the attorney general, Guatemala's newly elected President Bernardo Arévalo seeks societal aid to combat corruption and the entrenched old guard, emphasizing the role of collective action in driving national change amidst legal and political challenges. (AP)
🇭🇳 Honduras
Former Honduran National Police chief Juan Carlos "El Tigre" Bonilla pleads guilty to drug trafficking in the U.S., implicating former President Juan Orlando Hernández as his co-defendant, highlighting the country's struggles with corruption and narco-politics. (FOX)
🇲🇽 Mexico
Mexican President Andrés Manuel López Obrador proposes constitutional reforms to guarantee pensions equal to full salaries upon retirement, alongside other ambitious measures, despite unlikely congressional support. The proposals aim to influence the upcoming presidential elections and shape the next administration's agenda, focusing on social welfare and environmental protections. (AP)
South Dakota Governor Kristi Noem considers enhancing Texas' border security efforts against immigration by potentially sending razor wire and personnel. Criticizing the federal government's handling of border issues, Noem emphasizes the threat of drug cartels and violent crime, while also pledging support for the Oglala Sioux Tribe's lawsuit for more law enforcement on their reservation. Critics argue Noem's focus on the border is politically motivated. (ABC)
Mexico's stricter immigration enforcement, prompted by a request from President Biden to President López Obrador, has significantly reduced migration flows to the U.S. This crackdown, which included deportations and disrupting cartel-run bus networks, underscores that stronger border security can effectively decrease illegal immigration. However, this action is not a comprehensive solution to the broader migration issue, which remains a significant concern for both the U.S. and Mexico. (New York Times)
Pemex continued releasing significant methane from its Zaap-C platform despite UN alerts, undermining Mexico's pledge to cut emissions and highlighting challenges in combating climate change. (Reuters)
Bullfighting resumed in Mexico City despite protests, as the Supreme Court temporarily overturned a ban, igniting a legal battle between supporters and opponents concerned with animal rights and environmental health. (CBS)
For the first time in over two decades, Mexico surpassed China as the leading source of U.S. imports, reflecting tensions between Washington and Beijing and efforts to source closer to home. (ABC)
🇳🇮 Nicaragua
Nicaragua's crackdown on the Catholic Church intensifies, with 19 priests exiled and widespread harassment, spreading fear among the faithful. President Daniel Ortega's regime targets critics, silencing opposition and affecting church operations, driving a climate of fear and oppression in the country and among exiles. (AP)
🇵🇦 Panama
Nicaragua grants political asylum to former Panamanian President Ricardo Martinelli, following Panama's court decision to uphold his money laundering conviction. Martinelli, claiming political persecution, sought asylum to avoid a 10-year prison sentence and a $19.2 million fine related to irregular state contracts. (CNN)
🇵🇪 Peru
Peru rescinds a contract with a private firm for Machu Picchu ticket sales after protests, affecting local tourism. The government's reversal aims to alleviate sector concerns, but the area remains deserted, echoing pandemic emptiness, despite resumed rail service. Losses are estimated at $4.7 million. (AP)
🇵🇷 Puerto Rico
Protests over a new ticketing system for Machu Picchu have left the area desolate, fearing damage to small tourism businesses. The government's outsourcing decision has sparked concerns of favoritism towards larger companies, causing widespread disruptions and significant estimated losses of about $4.7 million for the local tourism industry. (NBC)
🇻🇪 Venezuela
The US seized a Boeing 747 sold by Iran to a Venezuelan state airline, citing sanctions violations. Tehran condemned the act, calling it illegal, while vowing support for Venezuela's efforts to reclaim the aircraft. (Al Jazeera)
Venezuela accuses Guyana of illegal oil concessions in disputed territory, defending its military buildup as within its rights. The longstanding territorial dispute over the Essequibo region escalates despite a peace agreement aimed at easing tensions. (ABC)
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