VEF

🚀 VEF completes second successful exit in recent months! We’re happy to share that we have fully exited our position in Gringo to Corpay, a global leader in business payments and expense management. With the USD 15.2 mln in net proceeds from this exit and previous partial exit of BlackBuck (Zinka Logistics Solutions Ltd) who recently IPOed in India, we are in a strong financial position, allowing us to deleverage our balance sheet and opportunistically buy back our shares. We remain focused on delivering additional value accretive exits that will support our mission to invest in the future of finance across growth markets. With strong momentum across our portfolio, we are confident that more opportunities will arise and see positive market trends supporting further value creation. Since our initial investment, Gringo has grown to a market leader in Brazil, helping millions of drivers navigate vehicle ownership with innovative solutions. We’re proud to have supported the team on this journey and look forward to seeing what they achieve next! Congratulations to the whole team at Gringo 🚗 Dave Nangle Alexis Koumoudos Shashi Shekhar Mahajan Kim Ståhl Helena Caan Mattsson

Fintech opportunities vary from market to market - what works in one may not be relevant in another. At VEF, our investment decisions focus on where fintech can make the greatest impact, driven by local market dynamics, regulatory environments, and consumer needs. In our latest video, hear from our CEO, Dave Nangle, as he explains how our market-first approach has guided our investments in portfolio companies like Konfío and Creditas. Watch here: https://lnkd.in/eVb-YUnE

A landmark moment for VEF portfolio company Abhi (YC S21) as they, together with TPL Corp, announce the acquisition of FINCA Microfinance Bank Ltd, Pakistan. By combining Abhi's fintech expertise and TPL's broad industry experience, the acquisition of Finca and its banking license enables Abhi to expand its product offering - including savings accounts and gold-backed loans - while gaining greater flexibility to manage deposits and reduce reliance on external funding partners. As early investors in Abhi, we are proud to support Omair Ansari, Ali Ladhubhai and the team as they build on their success to date and enter this exciting next phase of growth, further advancing financial inclusion in Pakistan. 🚀 Read more about the acquisition here: https://lnkd.in/dqNSdurs

Investing in emerging markets requires patience, resilience, and a long-term view. In a new article on our website, VEF CIO Alexis Koumoudos shares key insights from his career investing in these dynamic markets. Read here: https://lnkd.in/ehGAGUdS

At VEF, we've seen firsthand how technological innovation is transforming financial services across the emerging world, and nowhere is this clearer than in Brazil. With Pix, real-time digital payments have quickly become the norm, driving financial inclusion and setting new global benchmarks. In our latest article, VEF Principal Evin Mc Kay explores the rapid growth of Pix and its impact on daily life and Brazil's broader financial ecosystem, paving the way for the next wave of fintech innovation. 📄✍ Read at the link below. https://lnkd.in/dPNMMNdf

Very exciting week in India with VEF portfolio companies, the ecosystem and valued partners. It was a great honor to attend BlackBuck (Zinka Logistics Solutions Ltd) IPO ceremony. The culmination of a huge amount of hard and leadership by Rajesh Yabaji and the remarkable team. The company touches 1 in 3 trucks in India daily and they’re just getting started. It was very special to see the involvement of family in the ceremony. Excited, for the next leg of the journey with you as a public company. Fantastic time getting deep with the team at JUSPAY on the exciting opportunities ahead and quality time with Sumit Maniyar at Rupeek. Thank you all for a fantastic week. Sheetal Lalwani Vimal Kumar Banala Sai Siva Prasad Accel in India Subrata Mitra Satyakam Naik

Today is a landmark moment for BlackBuck as we proudly debuted on the National Stock Exchange (NSE) Over the years, we’ve brought India’s trucking community closer to the digital age, transforming the way truckers operate, connect and thrive. From simplifying & organizing freight marketplace to building a seamless platform for fleet management, our BlackBuckers contributions have directly touched the lives of countless truckers and their families. This listing belongs to each one of you who believed in the vision of digitizing trucking in India and empowering the backbone of this country. Thank you for being an integral part of this journey. Together, we’ve built something truly remarkable for India’s trucking ecosystem—and this is just the beginning. Our gratitude to all partners - Investors, Bankers, Legal Counsel, Auditors, Communication Consulting firms and the media fraternity who have extended their incredible support throughout this journey.  Rajesh Yabaji | Chanakya Hridaya | Ramasubramanian B | Shilpi Pandey | Satyakam Naik | Thejasvi Bhat | Supil Chachan | Manish Singh | Abhishek Singh Accel | Peak XV Partners | Flipkart | Tiger Global Management| IFC - International Finance Corporation | Tribe Capital | Goldman Sachs | Sands Capital | VEF | Wellington Management Cyril Amarchand Mangaldas | Trilegal | A&O Shearman | Axis Bank | JM Financial Ltd | Morgan Stanley | IIFL Securities | Redseer Strategy Consultants | PwC India | Manian & Rao Chartered Accountants | Concept PR India Ltd Watch the entire listing ceremony here: https://lnkd.in/gN99_dH3

BlackBuck (Zinka Logistics Solutions Ltd), a digital platform for truck operators and a VEF portfolio company, has today successfully completed an IPO in India.   We are proud to witness BlackBuck’s public market debut and the first VEF portfolio company to IPO and exit in India. We congratulate Rajesh Yabaji and the whole Blackbuck team on this important milestone.   BlackBuck raised USD 65 mln in primary capital in the IPO and is listed on the National Stock Exchange of India and the BSE. As part of the IPO, VEF has partially exited its position in the company, selling 40% of its 0.95% stake in BlackBuck, realizing gross proceeds of c. USD 2 mln. VEF retains 60% of its stake in the newly listed company, which is subject to a six-month lock-up.   For more information, please see the formal press release on our website: https://lnkd.in/eSDZe2T3 Alexis Koumoudos Dave Nangle Shashi Shekhar Mahajan

Spending time on the ground in each of our markets is a key part of our work at VEF ➡️ 🔸It provides us with first-hand insight and a deeper understanding of each local ecosystem 🔸Helps us build stronger relationships with portfolio companies, investors and pipeline opportunities 🔸Keeps us in tune with the trends shaping these markets In the latest post on our website, VEF principals Evin Mc Kay and Éire Smith share their take on some of the trends shaping fintech in Brazil and Mexico. Read here: https://lnkd.in/egsyecbd

Os resultados que conquistamos refletem as estratégias de longo prazo que vêm sendo implementadas. Esse progresso consolidou a confiança dos investidores e nos posicionou em um momento de forte crescimento e sustentabilidade financeira: 🔹 Receita recorde de R$517,4 milhões 🔹 Lucro bruto de R$237,4 milhões, com margem de 45,9%, superando a faixa de 40-45% prevista há dois anos 🔹 Portfólio expandido em 2,5%, totalizando R$5,8 bilhões 🔹 Originação de R$815,4 milhões — crescimento de 17,4% em comparação com o segundo trimestre de 2024 e 49,3% em relação ao mesmo período do ano passado Em novembro, também alcançamos uma marca importante em nossa história, com a listagem de um bond na Nasdaq de Estocolmo, uma das maiores bolsas de valores da Europa. Por aqui, cada passo dado é um reflexo de dois dos nossos compromissos: melhorar a vida dos nossos clientes e tornar o mercado financeiro dos países que atuamos mais saudável. Para mais informações, acesse nosso site de Relações com Investidores: https://lnkd.in/darvhEUF Versão em Inglês no primeiro comentário. 👇