Deal Description
Insight Partners and Tiger Global co-led a group of investors to participate in the Series D round for Nuvemshop.
Nuvemshop operates an e-commerce platform in Latinamerica, primarily Brazil, Argentina and Mexico.
Highlight Description
Special Mexican counsel to Insight Partners and Tiger Global in the negotiation of a USD$500 million Series E Preferred Stock investment in Nuvemshop (Linked Store Cayman LTD), an e-commerce platform operator in Latinamerica, primarily Brazil, Argentina and Mexico.
Innovation & Additional Comments
The Mexican market is not currently the focus of the target’s operations, however investment will be allocated to develop business in new markets (including Mexico). A full analysis of current regulatory, commercial, contractual and labor structure was implemented to asses business opportunities in Mexico in the near future.
Jurisdiction
- Documents governed by New York law.
- Cross-border transaction with active subsidiaries and business in Brazil, Argentina and Mexico.
Governing Law
- Documents governed by New York law.
- Cross-border transaction with active subsidiaries and business in Brazil, Argentina and Mexico.
Deal Value
- US$500 million
Deal Duration, Date of Closing / Signing
- Closing occurred August 9, 2021 and was publicly announced August 17, 2021.
Practice Area
- Mergers & Acquisitions
- Privacy
Gonzalez Calvillo
- Daniel Guaida Azar – Partner
- Lucía Fernández González – Counsel
- Diego Hernández Abascal – Associate
Other Firms Involved
- Willkie Farr – US Counsel to Insight Partners and Tiger Global
- Rosalind Fahey Kruse - Partner
- Anna Martini - Associate
- Marissa Cantu - Associate
- Matthew Naifeh - Associate
- Mattos Filho – Special Brazil counsel to Insight Partners and Tiger Global
Press Coverage (links)
- https://www.prnewswire.com/news-releases/latin-america-e-commerce-leader-nuvemshop-raises-500-million-from-insight-partners-and-tiger-global-management-301356320.html
- https://techcrunch.com/2021/08/17/brazils-nuvemshop-raises-500m-at-a-3-1b-valuation-months-after-last-raise/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAK4DAR5S9qE4wGOBKOHt-wTBcRl5ydtn6rEUGgcO0lIbHNybj0i_us2q_Zn6Lc8H-f0ZNCIF-hri-e6d8kceKwS2nPwF9_ccNRnq93idPPG-PdVY-h_uL67SfT8F-55nbpyV34xFepkmvXLpDoukO9uiYF-HQz1wR0NRpSPhR5Ck
- https://www.americaeconomia.com/negocios-industrias/nuvemshop-se-convierte-en-el-nuevo-unicornio-de-brasil-tras-recaudar-us-500m
- https://www.businessinsider.com/how-insight-tiger-won-a-fierce-battle-over-startup-nuvemshop-2021-8?r=MX&IR=T
- https://www.reuters.com/article/nuvemshop-funding/e-commerce-platform-nuvemshop-becomes-brazils-latest-unicorn-idUSL1N2PO153