New York, September 25, 2017 –The Latin American Private Equity & Venture Capital Association (LAVCA) today announced the election of Carlos Garcia, Managing Partner of Victoria Capital Partners who has been on the LAVCA board for three years, to the position of Board Chairman. Garcia takes over for Patrice Etlin, Managing Partner of Advent International, who served as the Chairman of the Board since 2011 completing the maximum of two, three-year terms.
Simultaneously, LAVCA membership reached a new record in 2017, with 190 member firms active within the organization, an increase of 50% from 125 in 2011. Members include qualified investors and industry professionals in the Latin American private capital community.
“This transition comes at an important time in the evolution of LAVCA and the Latin American private capital industry,” said Cate Ambrose, President & Executive Director of LAVCA. “Reaching nearly 200 member firms is a significant milestone and signifies the efforts achieved under Patrice’s leadership for the last six years. We thank him for his dedication to the organization’s mission and are delighted to welcome Carlos, another industry expert, to the role.”
The Board also appointed Mauricio Salgar, Managing Director of Advent International as a Director. Miguel Olea, Partner and Head of Latin America for the Abraaj Group, recently assumed the role of Treasurer, transitioning from Francisco Alvarez-Demalde, whose maximum term ends in 2018.
“As indicated by the association’s expanding membership, LAVCA’s role within the investment community in Latin America has never been more important,” said Garcia. “As markets become more sophisticated and policy makers transition, an industry body like LAVCA has a responsibility to work with its members and regulators to facilitate a successful investment environment for all players. I look forward to stepping up my role on the Board and working with Cate and the team to advance LAVCA’s mission.”
LAVCA’s current Board includes:
- Carlos Garcia (Chairman), Managing Partner, Victoria Capital Partners
- Cate Ambrose, President & Executive Director, LAVCA
- Miguel Olea (Treasurer), Partner & Head of Latin America, The Abraaj Group
- Francisco Alvarez-Demalde, Founder & Managing Partner, Riverwood Capital
- Flavia Buarque de Almeida, Partner, Península Participações
- Alfredo Castellanos Heuer, Managing Director, Glisco Partners
- Martín E. Díaz Plata, Managing Partner, Capital Group Private Markets
- Miguel Gutiérrez, Chairman, YPF; Partner TRG; Advisor, Telefonica Open Future_
- Hernan Kazah, Co-Founder & Partner, KaszeK Ventures
- Maria Kozloski, Chief Investment Officer of Private Equity, IFC
- Mauricio Salgar, Managing Director, Advent International
- Rodolfo Spielmann, Managing Director, Head of Latin America, CPPIB
- Scott Voss, Managing Director, HarbourVest Partners
- Philip von Mehren (Counsel), Partner, Venable
In addition in 2017, Piero Minardi, Managing Director and Head of Brazil for Warburg Pincus, accepted the role of Chairman of LAVCA’s Public Policy and Global Standards Council, taking over for Martín Díaz Plata, Managing Partner of Capital Group Private Markets, who served as Chairman of the council for six years. LAVCA’s Public Policy & Global Standards Council engages with Latin American regulators and policymakers on pertinent issues and policies relevant to private capital investment. Council Members include Olea, Francisco Arboleda, Principal at HarbourVest Partners; Priscila Rodriguez, Partner at Bozano Investimentos; Marco Pescheira, Managing Director of The Carlyle Group; Jose Sosa de Valle, Partner at Lexington Partners; Philip Von Mehren, Partner at Venable; and Carlos Asciutti, Partner at EY.
LAVCA Board Members will convene on September 25th in New York City to kick off LAVCA Week 2017, the organization’s annual investor event designed exclusively for the Latin American private capital community. Visit LAVCA’s website for a full list of members.
About the Latin American Private Equity & Venture Capital Association (LAVCA)
The Latin American Private Equity & Venture Capital Association (LAVCA) is a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean. LAVCA’s membership is comprised of over 180 firms, from leading global investment firms active in the region to local fund managers from Mexico to Argentina. Member firms control assets in excess of US$65b, directed at capitalizing and growing Latin American businesses and include, private equity, venture capital, and real estate fund managers, as well as institutional investors such as pension funds, sovereign wealth funds, and family offices. LAVCA’s mission – to spur regional economic growth by advancing private capital investment – is accomplished through programs of research, networking, education, and advocacy of sound public policy. More information at www.lavca.org