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Inside Venture Capital: Practitioner-Led Investor Training

Location: Virtual
Date: 27 - 28 October 2020
Hosted By: LAVCA

Building on the success of VC training programs in New York, Silicon Valley, Buenos Aires, Santiago, and Medellin, LAVCA partnered with PECAP to host a virtual training for first-and second-time fund managers and early stage investors in Latin America on October 27-28, 2020. The training was designed  also for new corporate ventures, family offices, heads of accelerators, and select angel investors active in the region.

Sessions were focused on issues relevant to emerging ecosystems with 6 hours of practitioner-led curriculum across two days including:

  • Discussions with notable limited and general partners.
  • Content on legal considerations for the industry and region.
  • A virtual pitch session for participants to a panel of LPs.

LAVCA | PECAP Inside Venture Capital combined a conversational format with experience-based discussions. Participating investors were encouraged to bring specific questions and concerns they were currently working on, and  they participated actively in the discussion. The program was conducted in Spanish.

AGENDA (Subject to change)

Tuesday, October 27

2:30-3:00 PM Opening Remarks & Participant Introductions

3:00-3:50 PM Q&A with Nicolas Szekasy, Co-Founder, KaszeK Ventures
A candid opening discussion on how KaszeK Ventures navigated from its early days to one of the region’s referential VCs. Topics will include fundraising (last year KaszeK raised US$600m across its fourth flagship fund and its first opportunities fund), investment strategy, approaches to investing in different geographies within the region, co-investing with local and global players, and any relevant topics participants want to raise with Nico.

3:50-4:15 PM BREAK

4:15-5:15 PM VC Fundraising
Moderated by: Luis Narro, Executive Director, PECAP
Fernando Lelo de Larrea, Partner, ALLVP
Rodrigo Baer, Partner, Redpoint eVentures
Cristobal Perdomo, Partner, Jaguar Ventures
A discussion about strategy, challenges, and successes for fundraising for new vehicles, including with Mexico-based ALLVP which held a US$85m final close for Fund III in the first semester of this year; Redpoint eVentures, a Brazil-based GP investing across the region, which held a final close of US$175m for Fund II in January of this year; and Mexico- and Argentina-based Jaguar Ventures, which is in the process of raising its second fund.

Wednesday, October 28

9:00-9:45 AM LP Seminar: Sourcing & Securing LP Commitments
Facilitated by: Javier Diaz-Fajardo, CEO, Bancoldex
Susana Garcia-Robles, Venture Partner, Capria; Executive Advisor, LAVCA
Francisco Valdés, Olivo Capital (Family Office)
Evaluating a first and second time fund means largely assessing the team. What complementary skill sets are you looking for? How important is operational expertise within the GP to drive value in portfolio companies? What characteristics do you look for in the managers with whom you have maintained relationships across multiple fund cycles? 

9:45-10:00 AM Virtual “Pitch” Session
LPs will hear 1-3 participants from the audience pitch their funds for 2 minutes each. The LPs will deliver advice to the funds and may or may not follow up individually to facilitate a private conversation and introduction. Advanced confirmation of participation required to pitch the LPs. Space is limited.

10:00-10:10 AM BREAK

10:10-12:30 PM Legal Session: VC Investing Best Practices with Gunderson Dettmer
Dan Green, a Partner at Gunderson Dettmer working with many of the top VC funds and startups in the US and Latin America, will host a two-part legal deep-dive focused on best practices for early investors in a startup to invest in a way that sets their portfolio up to successfully raise follow-on capital. Key topics will cover term sheet best practices, key issues in founder/early employee stock plans, valuation and follow-on, co-investing with corporates, issues around securing IP, red flags in deals to avoid, considerations in portfolio company formation, and new considerations in a C19 context. 

Contact LAVCA Manager of VC Carlos Ramos de la Vega at [email protected] for additional questions.

A special thanks to COFIDE, IDBCooperación Suiza-SECO, and Latin American Tech Growth Coalition partners including AWS, Facebook, Google, Microsoft, and Visa for their support to deliver practical training to Latin America’s emerging cohort of tech investors.

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