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Softbank gets behind Brazilian e-commerce platform

Softbank gets behind Brazilian e-commerce platform

Latin Lawyer


Por – Emily Darby

Simpson Thacher & Bartlett LLP in New York and Pinheiro Neto Advogados in São Paolo have helped Softbank’s Latin America fund lead a 580 million reais (US$140 million) investment in Brazilian e-commerce platform VTEX.

Paul Hastings LLP’s New York and São Paolo offices advised Brazilian investment fund Gávea Investimentos, which had a minority interest in the investment. VTEX enlisted Gunderson Dettmer in New York and L O Baptista Advogados’ São Paolo team for the deal, which closed on 22 November.

Brazil’s Constellation Asset Management also made a minority investment, but Latin Lawyer could not confirm its counsel prior to publication. The stake each company obtained in return for their investments was not disclosed.

Software as a service (SaaS) company VTEX will use the funds to boost its international presence and invest in its auto-scaling cloud commerce platform, which helps its clients manage traffic to their online sites and provides them with a simplified infrastructure for web app development.

VTEX, which was founded in 1999, counts Walmart, Lego, Disney, L’Oréal and Sony among its 2,500 global clients.

Japan’s Softbank launched its US$5 billion Latin America fund in March, through which the bank aims to invest in technology start-ups throughout Latin America.

In May, Softbank invested US$1 billion in food delivery app Rappi, which was the largest investment to date in a Latin American tech start-up.

Counsel to Softbank

  • In-house counsel – Stephen Pelliccia
  • Simpson Thacher & Bartlett LLP – Partners Todd Crider, Grenfel Calheiros and Jonathan Goldstein, and associates Luiz Noronha, Siddharth Fresa and Morgan Otway in New York
  • Pinheiro Neto Advogados – Partners Raphael De Cunto and Jorge Lopes, and associates Rodrigo Moreira, Giovanna Christina Selena Cezario and Giovanna Christina Selena Cezario in São Paolo

Counsel to Gávea Investimentos

  • Paul Hastings LLP – Partner Jon Kellner in New York and associate Diana Balassiano in São Paolo

Counsel to VTEX

Fonte: https://latinlawyer.com/article/1211722/softbank-gets-behind-brazilian-e-commerce-platform

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