News that NuvoTV, a cable network that airs English-language shows targeting Hispanic audiences, got a $40 million investment from several institutions is underlining recent interest Hispanic and Latin American companies are getting in the venture capital and private equity communities.
Palladium Equity Partners, an investor in Hispanic Parenting Media company Todo Bebe and in DolEx (Dolar Express), recently received $100 million from five New York City pension funds. The company provides electronic funds transfer services in the U.S. and Puerto Rico, according to a recent article.http://www.portada-online.com/article.aspx?aid=10074
Here’s a list of six companies to watch in the U.S. Hispanic and Latin American media and digital sector.
• NuvoTV
Hispanic Broadcast Network NuvoTV got $40 million from investors Columbia Capital and Rho Capital Partners Inc., and new investors Veronis Suhler Stevenson and Tennenbaum Capital Partners. The money will be used for more programming and marketing.
• Vostu
Latin American social gaming company Vostu raised financing involving Tiger Global, Intel Capital and General Catalyst. All three funds had already participated in the company’s last US $30 million round. Vostu focuses on Latin America, with an emphasis on Brazil.
• Ideame-Movere
Ideame, a Buenos Aires, Argentina-based crowd-funding site, bought the Brazilian company Movere in a deal that may spur more consolidation in this part of Latin America. Ideame said it had 100 percent of Movere’s shares in exchange for 15% of Ideame’s stock, valued at about $2.5 million.
• Media Response Corp
New York and London based media investment firm VSS (Veronis, Suhler & Stevensohn) invested $15 million in Media Response Corp., a group of direct response online marketing firms active in Spain and Latin America.
• Batanga
Batanga acquired Crovat, a digital content company in Uruguay. Online Ad Network in Miami and Content Company. Batanga is another private equity-backed company (H.I.G Ventures was Lead Investor in the last funding round of $30 million).
• Open English
This online English language school raised more than $40 million last month, the company announced. New York-based Insight Venture Partners led the round. California-based Redpoint Ventures and investors including Flybridge andKaszek also participated.
