19 August, 2021 Regional

General Atlantic invests in Latin American education platform

Corporate / M&A

US investor General Atlantic has turned to Mexican firm Creel, García-Cuéllar, Aiza & Enríquez, SC and Philippi Prietocarrizosa Ferrero DU & Uría in Bogotá and Lima to inject US$70 million into regional education technology platform Crehana.

Latin Lawyer understands that General Atlantic also hired Paul, Weiss, Rifkind, Wharton & Garrison LLP, while Crehana turned to Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP, but this could not be confirmed prior to publication.

The deal closed on 2 August.

This funding round represents Latin America’s largest Series B investment for an education technology company and comes just a few months after Crehana raised US$13 million in its Series A round.

Crehana, a leading education technology platform for companies and individuals, focuses on closing the reskilling and upskilling gap in Latin America. The company currently offers 500 courses and has 3 million subscribers. It is headquartered in Lima and has additional offices in Bogotá and Mexico City.

New York-based General Atlantic manages around US$53 billion worth of assets. The group is a regular investor in the Latin American market. For example, it injected US$65 million into Mexican online supermarket brand Jüsto back in February and contributed to making Uruguayan fintech dLocal the country’s first unicorn in a deal last year.

Counsel to General Atlantic

Creel, García-Cuéllar, Aiza & Enríquez SC

Partner Jean Michel Enríquez, counsel Diego Barrera, and associates José Luis Gutiérrez Ramírez Garrido, Iñigo Irurita Musi, Alejandro Castelló, Carlos Michan Sayd, Julio Álvarez, Carlos Armando Ruiz, Alicia Abúndez, Arely Elizon Díaz, Sofía Castañón Rivera, Alondra Jocelin Delgado Esqueda and Luis Fernando Arias Ramírez in Mexico City

Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)

Partner Hernando Padilla and associate Camilo Ballesteros in Bogotá

Philippi Prietocarrizosa Ferrero DU & Uría (Peru)

Partner Rafael Boisset and associates Raúl Vizcarra, Daniel Forton, Juan Pulido, Diego Cabrera, Raúl Vidal, Amable Vásquez and Carlos Weston in Lima

Source: Latin Lawyer

Link to publication