Dealflow.la #89 – Makasí 🇧🇷 Raises $21M for Housing, Berkshire 🇺🇸 Exits Nubank 🇧🇷, & Argentina 🇦🇷 Unveils Nazi Archive
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Funding
Mileto 🇧🇷 raised a $215K Angel Round from Strategic Angel Investors to connect companies with technical high school interns via tailored recruitment and mentorship. The platform bridges Brazil’s skills gap by aligning 16–18-year-old students’ hands-on training with corporate needs, targeting 100K placements by 2029.
BioPlaster Research 🇲🇽 raised a $655K Bridge Round with funding from Rindani Capital 🇲🇽, GRIDX 🇦🇷, and other Strategic Angel Investors to replace petroleum plastics with seaweed-based biodegradable materials. The startup converts coastal seaweed waste into pellets for packaging films and bags, partnering with Carnival Cruise Line and suppliers for BMW. Funds will launch a Mérida pilot plant in late 2025, targeting hundreds of thousands of units annually to address Mexico’s 7M tons of plastic waste crisis.
Datlo 🇧🇷 raised a $710K Seed-Extension Round led by Hiker Ventures 🇧🇷 to boost sales via AI geo-intelligence, analyzing 120M+ data points for clients like iFood and Nestlé. Funds will enhance analytics and expand into Mexico and Colombia, building on 180+ enterprise clients post-Y Combinator (2021).
VMetrix 🇨🇱 raised a $3.2M Seed Round with funding from Kayyak Ventures 🇨🇱 and Nazca Ventures 🇨🇱 to automate and streamline investment portfolio management. The platform simplifies processes, reduces manual tasks, and enables efficient scaling for asset managers and institutional investors.
Allugg 🇧🇷 raised a $5.3M FIDC-backed Debt Round led by Oslo DTVM 🇧🇷 to scale its Hardware-as-a-Service platform for IT and medical equipment rentals, serving 200+ clients (70% startups).
Makasí 🇧🇷 raised a $21M Debt Round from undisclosed investors to finance affordable housing via Brazil’s Minha Casa, Minha Vida program, having funded 2.8k+ homes across 19 states. Combined with a prior $19M round, total 2024 funding hits $40M to tackle Brazil’s 5.8M-home deficit.
Auna 🇵🇪 raised a $62.1M Post-IPO Debt Round from undisclosed investors to expand its integrated healthcare network across Latam. The company operates 31 hospitals and clinics in Mexico, Peru, and Colombia, offering oncology-focused health care plans and prioritizing high-complexity care in underpenetrated markets, while refinancing obligations to support its vertical integration strategy.
Acquisition News
Vórtx 🇧🇷 acquired Grafeno 🇧🇷, a Brazilian fintech providing digital infrastructure for credit operations, transaction security, and institutional asset management, to accelerate its Banking-as-a-Service (BaaS) and Credit-as-a-Service (CaaS) capabilities by integrating Grafeno’s 15,000 accounts and advancing infrastructure for corporate debt/FIDC markets.
Tiendanube 🇦🇷 acquired Kalto 🇲🇽, a Latam B2B payments platform empowering SMEs with advanced cash flow and credit tools, to launch a native payments solution and expand financial products for Tiendanube’s merchants across Latam.
Startup & VC News
Berkshire Hathaway 🇺🇸 exited its Nubank 🇧🇷 position with a $250M profit, divesting 40.2M shares to streamline financial sector exposure despite Nubank’s 91% 2024 revenue growth. The move aligns with Buffett’s shift toward cash reserves ($348B) and industrial assets, while Nubank remains Latam’s leading crypto-integrated neobank with 100M+ users. (FinanceFeeds) (Valor International)
Uber and iFood 🇧🇷 announced a cross-platform integration in Brazil, enabling ride bookings via iFood and delivery orders via Uber apps to boost convenience for 85M users. This move strengthens the market positions of both platforms amid rising competition from Meituan's $883 million Keeta expansion. (Reuters) (G1 Globo)
Patria Investimentos 🇧🇷 announced a $1B investment to launch Omnia, a hyperscale data center platform targeting Brazil, Mexico, and Chile, focused on powering AI and cloud services for major global tech clients. The first campus, set for Brazil, will use only renewable energy and aims to meet surging Latam demand as regional data center capacity is expected to triple by 2030. (Startupi) (Reuters) (Valor International)
Sociopolitical News
🇦🇷 Argentina
Recurrent floods in Argentina highlight escalating climate risks, with March 2025's Bahía Blanca disaster displacing 33K households and crippling key agricultural exports. Climate attribution studies link extreme rainfall to warming trends, while May 2025 storms further strained soybean and corn production in vital farming regions. (Reuters) (FloodList)
Argentina's Supreme Court uncovered 83 crates of Nazi-era documents in its basement, shedding light on historical propaganda networks. The 1941 shipment, intercepted en route from Tokyo, contained materials to spread Hitler's ideology, which are now under review with Holocaust Museum experts to trace global Nazi finances. (Corte Suprema) (BBC) (NY Times)
Argentina tightens immigration rules, ending free healthcare and education for foreigners to curb public spending under President Javier Milei. The decree mandates health insurance for visitors, allows universities to charge international students, and expedites deportations, aligning with austerity measures; provinces like Salta saw a 95% drop in foreign patients after implementing fees. (CNN) (Info3)
Argentina secures a $500M IDB loan as part of a $10B package to stabilize its economy and advance fiscal reforms. The funds aim to strengthen balance of payments, support private sector growth, and reduce inflation through fiscal discipline, aligning with IMF and World Bank agreements while targeting aid to vulnerable populations. (Infobae) (IDB)
🇧🇷 Brazil
Brazil’s Serra Verde rare earth mine challenges China’s dominance, but exports remain tied to Chinese contracts. The US-backed project, aiming to produce 5K tons/year by 2026, taps Brazil’s 21M-ton reserves (second-largest globally) as Western nations seek supply chain alternatives amid trade tensions. (Xataka) (NY Times)
Brazil’s first commercial farm bird flu outbreak risks $10B exports as China and others impose bans. The virus detected in Rio Grande do Sul-home to 35% of global poultry trade-prompted culling 17K birds and egg destruction, with farmers boosting biosecurity to prevent supply chain disruptions. (Reuters)
China and Brazil ink 20 trade deals opposing U.S. protectionism, boosting agriculture, currency swaps, and nuclear ties. Beijing lifted soybean import bans on five Brazilian firms to reduce U.S. reliance, alongside $4.8B in new investments and a BRICS multilateralism push ahead of July’s summit. (Reuters) (China Daily)
Meituan to invest $1B to launch Keeta in Brazil, challenging iFood in a $4.5B delivery market projected to grow 15% annually. The five-year plan includes nationwide logistics and digital tools for local restaurants, backed by President Lula during Beijing talks, as China expands tech ties amid U.S. trade tensions. (Dotdotnews) (Bloomberg)
🇨🇱 Chile
Chile’s lithium value-added strategy stalls as Chinese firms Tsingshan and BYD exit cathode plant projects. The withdrawals, despite Chile’s 39% global lithium reserves, reflect global oversupply and price drops to $12K/ton, though Tsingshan hints at future opportunities while Cochilco forecasts 305K-ton 2025 output. (Discovery Alert) (Riotimes) (Energy News)
Chile’s Codelco secures $500M credit line backed by Santander and Italy’s SACE to bolster copper production. The state-owned miner, responsible for 8% of global copper output, will use the funds for operational stability and debt management amid rising project costs and market volatility. (Reuters) (Marketscreener)
🇨🇴 Colombia
Colombian smuggler Diego Marín operated a $100M/year criminal network with DEA complicity, bribing agents to evade scrutiny. Allegations reveal agents accepted luxury gifts and enabled his contraband operations while he allegedly funded President Petro’s campaign with $125K, prompting comparisons to historic U.S. law enforcement corruption scandals. (AP News) (Infobae) (RTVC)
Bogota's mayor says the $6B metro project is still on track despite US attempts to veto it. The city confirms 53.6% completion of Line 1 (scheduled for 2028) and ongoing support from IDB, World Bank, and EU lenders, though analysts warn future phases may require alternative financing amid U.S.-China tensions over Colombia’s Belt and Road membership. (Swissinfo) (Semana)
Colombia joins China’s Belt and Road Initiative, prioritizing infrastructure and tech projects amid U.S. trade tensions. The non-binding agreement targets renewable energy, AI, and rail corridors to boost exports, with China pledging to import more Colombian goods while domestic critics warn of risks to U.S. ties, Colombia’s top trade partner. (El Economista) (ColombiaOne) (Reuters)
Colombia seeks membership in the BRICS-led New Development Bank, signaling a geopolitical shift toward China amid strained U.S. relations. President Petro committed to purchasing $512M in shares to fund a 120km Atlantic-Pacific railway, leveraging the bank’s $40B infrastructure portfolio, while U.S. officials oppose BRI-linked projects in Latam. (AP News) (Business Standard)
Colombian Senate rejects Petro’s labor reform referendum, prompting fraud claims and protests. The 49-47 vote faced allegations of irregularities, with Petro vowing to resubmit the proposal as opponents cite $250K cost savings and accuse him of undermining Congress. (El Colombiano) (Infobae)
🇨🇷 Costa Rica
US trade uncertainty risks Costa Rica’s $9.4B exports, threatening agriculture and medical device sectors. A 10% tariff and China tensions may cut demand, hurting currency and FDI; diversification via EU/Asia deals and CAFTA-DR safeguards continues. (Tico Times) (Fresh Plaza)
Costa Rica’s PROCOMER targets AI and data analytics investments via Silicon Valley trade mission to boost $16.1B tech exports. The initiative aims to expand its high-value tech hub status, leveraging 119K jobs and global sector growth. (Newswire)
Costa Rica’s FDI hits a decade low with 43 projects in 2024 amid agency restructuring and Mexico’s $43.3B surge. Free trade zones drove 64% of inflows as the government pivots to semiconductors and advanced manufacturing to counter global competition. (CRHoy) (Tico Times)
🇩🇴 Dominican Republic
Dominican Republic deploys 1.5K troops and accelerates border wall construction amid Haiti’s escalating gang violence and refugee crisis. The measures include stricter migration controls and legal penalties for aiding undocumented migrants, with over 213.6K Haitians deported since October 2024 as gangs control 85% of Port-au-Prince. (Reuters) (Al Jazeera) (ReliefWeb)
Dominican Republic eyes record $45B forex earnings in 2025 as tourism (+22%) and remittances offset construction dip. Reserves hit $15.1B with 5% GDP growth projected, driven by FDI and strong Q1 inflows. (EHPLUS+) (Travel and Tour World) (CSQWorld)
🇪🇨 Ecuador
Jorge Glas, former VP of Ecuador, is charged with the 2023 murder of anti-corruption candidate Fernando Villavicencio via Los Lobos gang links. Glas, imprisoned for corruption, is one of six facing allegations, including a $200K prison-ordered bounty.(Bloomberg) (Al Jazeera) (Riotimes)
Ecuador's President Noboa introduces legislation classifying gang members as "combatants" to dismantle criminal economies. The urgent bill targets financial networks behind Ecuador's violence crisis (47 homicides per 100K), allowing asset seizures while establishing 30-year sentences for gang leaders. (Rio Times) (La Derecha Diario)
Ecuador's President Noboa consolidates power with his movement controlling the National Assembly amid democratic concerns. Following April's re-election, he pursues constitutional reforms expanding military powers against organized crime while aligning with Trump through proposed security cooperation, including reopening the Manta base. (La Jornada) (CNN)
Ecuador’s President Noboa sets security, economic reform, and jobs as top priorities for 2025–2029 amid violence and fiscal crisis. Plans include military crackdowns and infrastructure investment, but progress faces legislative and economic hurdles. (Primicias)
🇸🇻 El Salvador
El Salvador’s President Bukele proposes a "foreign agents" law taxing NGOs 30%, raising fears of authoritarian crackdowns on dissent. The bill targets critics of his gang crackdown and mirrors measures seen in Nicaragua and Venezuela. (AP News) (El País)
🇬🇹 Guatemala
Guatemala implements a 10% minimum wage hike for 2025 to address inflation and labor demands, with 6% for export sectors. The monthly rates range from $409-$454 (Q3,097–Q3,723), set by presidential decree after failed negotiations, though employers warn of strain on small businesses and potential job losses. (Prensa Libre) (Central Law) (Bloomberg Línea)
Guatemala’s private securities market hits $340M in four months, driven by bank bonds and sustainable investments. Major issuers like Banco Promerica and BAC deployed $65M of $500M authorized, while electronic trading and ESG-focused bonds gain traction amid capital market reforms. (Prensa Libre) (Proparco) (CABEI)
Yazaki’s $10M factory launch in Guatemala draws interest from seven more auto firms, boosting nearshoring and job creation. The plant, supported by USAID and CAFTA-DR, targets North American supply chains and electric mobility growth. (Prensa Libre) (Yazaki)
🇭🇳 Honduras
Honduras’ goods exports rose 33% in early 2025, led by coffee and electronics, reversing last year’s drop and supporting 3–4% GDP growth. Improved weather and global demand drove the rebound. (El Heraldo) (Fitch Solutions)
Honduras’ business leaders warn the new tax law deters investment by ending incentives and increasing uncertainty. The law replaces existing benefits with stricter regimes, raising investor concerns amid already slowing FDI and legal unpredictability. (La Prensa) (Trade.gov)
🇲🇽 Mexico
Hispanic US lawmakers and Mexico’s Sheinbaum oppose a proposed 5% remittance tax, warning it would harm migrant families and fuel irregular migration. The bill could cost Mexico $3.25B/year and push remittances into informal channels. (El Universal) (El País)
Mexico accuses MrBeast of violating filming permits by commercially exploiting Mayan pyramid footage. Authorities allege he used an educational permit to promote a chocolate product, with scenes deemed misleading or fabricated, prompting legal action against his production company. (MSN) (BBC) (Reuters)
Starting on 1 June, Mexico will become the first country to elect all of its judges via popular vote, beginning with 881 federal positions. Critics warn that the reform could politicise courts and weaken judicial independence. (The Economist) (DW)
Mexico’s government signed a pact with 22 firms to boost "Made in Mexico" product sales, targeting 70% of products in supermarkets and 400K new jobs. The deal, part of Sheinbaum’s Plan México, includes a $55M textile agreement and sector-specific increases. (El Economista) (Revista Migrante) (BNAmericas)
🇳🇮 Nicaragua
Nicaragua bans dual citizenship via constitutional amendment, stripping nationality from those acquiring foreign passports. Critics say it targets opponents, following over 400 revocations since 2023, and requires 2026 ratification. Central Americans are exempt. (Reuters) (Tico Times)
🇵🇦 Panama
Panama City’s mayor hints at a Bitcoin reserve after meeting El Salvador’s crypto leaders, signaling potential municipal adoption. The move follows Panama City’s approval of crypto payments for taxes and fines, though federal legislation would be required for broader implementation. (Cointelegraph) (Binance)
Panama’s Cobre Panamá mine restart is critical to U.S. mineral security, offering a counter to China’s copper dominance. The $10B mine, halted in 2023, could supply 1.5% of global copper for AI and green tech if revived via U.S.-backed talks, with Panama’s president exploring expedited reopening. (The Deep Dive) (CSIS) (Bloomberg)
🇵🇾 Paraguay
Paraguay aims to produce 90K tons/year of green hydrogen by 2030 using surplus hydropower to cut fossil fuel imports and boost energy security. The strategy targets transport and industry, backed by a $100M ammonia facility and partnerships with IDB and private investors. (ABC Color) (GH2)
Paraguay establishes a General Directorate for Gambling to modernize regulation, targeting illegal operations and boosting state revenue. The overhaul includes taxing online platforms and blockchain integration for transparency, aligning with regional trends. (Infoplay)
🇵🇪 Peru
Peru extends emergency powers in Lima districts to combat organized crime, deploying military and reporting 15K arrests since 2024. Affected areas face persistent violence and extortion, while bishops condemn recent gang-linked murders. (Milenio) (Riotimes) (BSS News)
Peru’s Congress allows microenterprises to avoid fines by taking tax courses, raising concerns over $200M–$350M in revenue losses. The law applies to firms with under $215K annual sales; SUNAT must implement courses by August 2025. (Infobae) (Gestión)
🇻🇪 Venezuela
UN experts condemn Venezuela’s isolation of detained opponents as equivalent to forced disappearances, citing activist Eduardo Torres’ case. Over 894 political prisoners face systemic repression, with judicial complicity in denying habeas corpus rights. (UN News) (Infobae) (Foro Penal)
Toyota, H&M, and Volkswagen have resumed direct operations in Venezuela, signaling cautious foreign investment as the economy stabilizes. Trade with Colombia is rising but remains below historic levels, with further growth hinging on oil sector licenses and currency stability. (La República) (America Retail)
US sanctions have exacerbated Venezuela’s economic crisis, with Oxford Economics projecting a 35% GDP contraction and $226B in oil revenue losses since 2017. Hyperinflation and import declines have deepened poverty, linked to mass migration and humanitarian suffering. (Bloomberg Linea) (Tricontinental)
Venezuela’s legislative and gubernatorial elections face voter apathy and economic crisis amid opposition fractures and repression. The ruling party dominates campaigning as sanctions cut oil output, with GDP set to contract 2–3% and inflation at 130–150%. (El País) (Crisis Group)
🇺🇸 Miami
A proposed US bill would impose a 5% tax on remittances sent by non-citizens, threatening billions in annual flows to Latam and the Caribbean. The measure, supported by House Republicans, could cost Mexico $3.25B and India $1.6B yearly, spark a shift to informal channels, and hurt economies where remittances make up over 20% of GDP. (La Prensa Gráfica) (El País) (Economic Times)
Miami Beach approved an initiative to attract Israeli and Jewish-owned firms, aiming to diversify its economy beyond tourism. The plan targets tech and healthcare sectors, leveraging Florida’s 429 Israeli-founded companies that employ 8,190 workers and generate $7.3B annually. (Miami Today) (Times of Israel)
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