State Power Investment Corporation spinoff State Fuel Cell Technology Corporation raised $648m while Mercedes Benz spinoff RepairSmith is being bought for $190m.
Funds
Chilean diversified logistics group Agunsa has formed a corporate venture capital fund called Agunsa Labs. The unit has also made its first investment, in local startup accelerator Instance Latam.
Brazilian pesticide provider Koppert Biological Systems is investing up to R$50m ($9.3m) in a corporate venturing arm which will target seed-stage agricultural technology developers. It will be managed by Banco do Brasil asset management subsidiary BB DTVM.
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