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MoFo Advises Petlove&Co on Financing Round

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Morrison & Foerster advised Petlove&Co, the largest digital ecosystem for pet owners in Brazil, in connection with its recent financing round with its existing major investors, Tarpon, SoftBank, L Catterton, Porto Seguro and Monashees, and a new initial investment by Riverwood Capital. This is the largest financing round in Petlove&Co’s history. The company will use part of the proceeds of this round to further expand its logistics network, aiming to accelerate its delivery capabilities.



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Morrison & Foerster advised Petlove&Co, the largest digital ecosystem for pet owners in Brazil, in connection with its recent financing round with its existing major investors, Tarpon, SoftBank, L Catterton, Porto Seguro and Monashees, and a new initial investment by Riverwood Capital. This is the largest financing round in Petlove&Co’s history. The company will use part of the proceeds of this round to further expand its logistics network, aiming to accelerate its delivery capabilities.Petlove&Co is the combination of five brands that put love for pets at their center: Petlove, DogHero, Vet Smart, Vetus, and Porto.Pet. The company aims to democratize and simplify pet care, offering the best experience for pet parents and empowering veterinarians and entrepreneurs within the pet segment.The MoFo team advising Petlove&Co on the deal was led by Miami-based Latin America Desk co-chair Randy Bullard, together with corporate associates Ludovica Gardani and Giselle Sardinas.

MoFo Advises Petlove&Co on Financing Round

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Randy is the Managing Partner of Morrison Foerster’s Miami office and Co-Chair of the firm’s Latin America Desk. He advises multinational clients in connection with cross-border mergers and acquisitions, venture capital and other finance transactions throughout Central and South America, the Caribbean, and the United States.Randy’s mergers and acquisitions work has focused on international cross-border mergers and acquisitions across a broad range of sectors, including financial services, technology and telecommunications, media, entertainment, agriculture, manufacturing and food and beverage.<h4>Representative Experience</h4><h5>Mergers and Acquisitions</h5><ul><li>SoftBank Latin America Fund in connection with a Series B funding round for Incode, a next-generation identity and authentication platform for global enterprises.</li><li>SoftBank Latin America Fund in connection with a Series C financing round in Addi, a fintech startup based in Bogota, Colombia that offers buy-now-pay-later technology.</li><li>SoftBank Latin America Fund in connection with a Series D financing round in Open Co, a Brazilian consumer credit company.</li><li>SoftBank Latin America Fund on leading a Series B financing round for Laika, a Colombia-based pet supplies e-commerce platform.</li><li>SoftBank, Riverwood Capital, Igah Ventures, and Volpe Capital in connection with their investments in CRM&BONUS’s R$280 million financing round.</li><li>SoftBank in connection with a Series E financing round led by the SoftBank Latin America Fund totaling $190 million in MadeiraMadeira, a Brazilian online home goods platform.</li><li>SoftBank in connection with a Series C financing round in JusBrasil, a platform that connects people to justice through lawyers and legal information.</li><li>SoftBank in connection with a Series C financing round led by the SoftBank Latin America Fund in Contabilizei, a Brazilian online platform that offers affordable tax-filing and accounting SaaS for SMEs in Brazil.</li><li>SoftBank in connection with a Series D financing round led by the SoftBank Latin America Fund in Olist, a Brazilian e-commerce platform.</li><li>SoftBank Latin America Fund in connection with a Series B $108 million financing round in Pismo, a technology company providing an all-in-one processing platform for banking, payments, and financial markets infrastructure.</li><li>SoftBank in connection with the Series C US$50 million financing round in GAIA, an e-commerce platform for the sale of furniture and design accessories in Mexico.</li><li>The management team of Wizeline, Inc., a global technology services provider that partners with clients to build high-quality digital products and platforms, in connection with the agreement under which Caisse de dépôt et placement du Québec (CDPQ), a global investment group and one of Canada’s largest pension funds, will acquire majority ownership of Wizeline.</li><li>SoftBank in its investment of up to US$150 million into a subsidiary of Grupo Bursátil Mexicano (GBM), a leading investment platform in the Mexican stock market for over 35 years.</li><li>SoftBank in a joint venture with WeWork, the leading flexible space provider, that provides SoftBank Latin America Fund with the exclusive right to operate the WeWork brand in Argentina, Brazil, Chile, Colombia, and Mexico.</li><li>Petlove, the largest digital ecosystem for pet owners in Brazil , on its acquisition of Porto Pet, a company in the Porto Seguro business group and a leader in the animal health plan segment.</li><li>Petlove, the largest digital ecosystem for pet owners in Brazil, in connection with its recent financing round with its existing major investors, Tarpon, SoftBank, L Catterton, Porto Seguro and Monashees, and a new initial investment by Riverwood Capital.</li><li>SoftBank in connection with the US$150 million (R$822 million) preferred equity investment in Afya Limited (Nasdaq: AFYA), the largest medical education group in Brazil.</li><li>SoftBank in connection with the US$84.5 million financing round in Descomplica, the first Brazilian EdTech company to enter the higher education market. Co-led by investment fund Invus Opportunities, the funding round represents the biggest investment to date in an EdTech company in Latin America. </li><li>Petlove, the largest digital ecosystem for pet owners in Brazil , in the expansion of its e-commerce into a pet ecosystem through the acquisition of DogHero, a pet services Brazilian company.</li><li>SoftBank in connection with a Series C US $225 million financing round in Kavak, a Mexican online platform for buying and selling used cars.</li><li>SoftBank in connection with a Series B US $108 million financing round in Acesso Digital, a Brazilian IDTech pioneer in ID protection solutions.</li><li>SoftBank in its sale of a majority stake in Brightstar Corp., a subsidiary of SoftBank and the global leader of end-to-end device lifecycle solutions for carriers, retailers, and enterprise, managing mobile devices, to Brightstar Capital Partners, a private equity firm focused on partnering with founders, entrepreneurs, and management team.</li><li>SoftBank in connection with a Series D US$225 million financing round in VTEX, a Brazilian global enterprise digital commerce platform.</li><li>SoftBank in connection with a Series C financing round led by SoftBank’s Latin America Fund in Brazilian data science company Cortex.</li><li>SoftBank in connection with a Series B US $125 million financing round led by SoftBank’s Latin America Fund in AlphaCredit, a technology-enabled financial platforms in Latin America.</li><li>Inchcape, the leading global independent multi-brand automotive distributor and retailer, in its cash-free and debt-free £47 million acquisition of Autolider, a distributor of Daimler brands in both Uruguay and Ecuador.</li><li>Dolphin Entertainment, Inc., a leading independent entertainment marketing and premium content development company, in its acquisition of Shore Fire Media, Ltd., a public relations and media management firm based in Brooklyn, New York that specializes in music, entertainment and popular culture.</li><li>SoftBank in connection with a Series D US$250 million investment round in QuintoAndar, a São Paulo-based real estate leasing platform.</li><li>SoftBank in connection with its joint US$150 million Series C round investment with Tencent an Argentine fintech company Ualá.</li><li>SoftBank in its Series D $100M investment in Konfio, an online lending platform in Mexico.</li><li>SoftBank in its investment in Buser, Ltd., an intercity bus charter online booking service in Brazil.</li><li>Imperia Intercontinental, Inc. in its purchase of the consumer banking business and insurance business of Banco Citibank de El Salvador S.A., Citi Tarjetas de El Salvador, S.A. de C.V., Balboa Reinsurance Ltd. and Seguros e Inversiones S.A. </li><li>Liberty Latin America Ltd., a leading telecommunications company with operations in Chile, Puerto Rico, the Caribbean, and other parts of Latin America, and a subsidiary of Liberty Global plc (NASDAQ: LILA and LILAK), in its acquisition of an 80% stake in Cabletica, a leading Costa Rican cable operator, from Televisora de Costa Rica S.A. (Televisora), which will retain a remaining 20% interest, for approximately US$250 million.*</li></ul><h5>Finance</h5><ul><li>The Chilean, Peruvian, and Colombian operating companies of Andean Telecom Partners in a syndicated senior secured financing totaling approximately $170 million and a subsequent syndicated senior secured financing totaling $35 million.</li><li>Andean Tower Partners Colombia, operator and developer of wireless telecommunications infrastructure owned by Digital Bridge, in the US$55 million refinancing operation granted by Scotiabank Colpatria.</li><li>MesoAmerica Latam Opportunities Fund in its US$120 million revolving credit facility with Scotiabank. </li><li>Corporación América Airports S.A. in its US $485 million initial public offering (IPO) on the NYSE. Corporación América Airports manages and operates 52 airport facilities in Argentina, Italy, Brazil, Uruguay, Ecuador, Armenia and Peru.</li></ul>

Randy, copresidente del Latin America Desk y socio del Departamento Corporativo de la firma, asesora a clientes multinacionales en relación con fusiones y adquisiciones transfronterizas, empresas conjuntas (joint ventures), y transacciones de valores y finanzas en toda América Central y del Sur, el Caribe, Europa y los Estados Unidos.Randy ha asesorado a numerosas corporaciones globales europeas en relación con el establecimiento y desarrollo de sus presencias en los Estados Unidos, así como en la gestión de sus operaciones en América Latina. También representa a emisores en ofertas de capital y de deuda y en cotizaciones de la bolsa.La experiencia de Randy en relación a fusiones y adquisiciones se ha centrado en fusiones y adquisiciones internacionales transfronterizas en una amplia gama de sectores, incluyendo servicios financieros, telecomunicaciones, medios de comunicación, entretenimiento, energía, agricultura, industria manufacturera, y alimentos/bebidas.<h4>Experiencia Representativa</h4><h5>Fusiones y adquisiciones</h5><ul><li>Representó a SoftBank en relación con una ronda de inversión Serie B dirigida por SoftBank Latin America Fund, por un total de US$ 125 millones en AlphaCredit, una de las plataformas de tecnología financieras de más rápido crecimiento en América Latina.</li><li>Representó a Inchcape, el principal distribuidor y minorista independiente de automóviles de múltiples marcas a nivel mundial, en su adquisición sin dinero en efectivo y deudas de £ 47 millones de Autolider, un distribuidor de las marcas de Daimler en Uruguay y Ecuador.</li><li>Representación de Dolphin Entertainment, Inc., una empresa independiente líder en mercadeo de entretenimiento y desarrollo de contenidos de primera calidad, en su adquisición de US$ 3 millones de Shore Fire Media, Ltd., una empresa de relaciones públicas y gestión de medios de comunicación con sede en Brooklyn, Nueva York, que se especializa en música, entretenimiento y cultura popular.</li><li>Representó a SoftBank en relación con una ronda de inversión Serie D por un total de US$ 250 millones en QuintoAndar, una plataforma de arrendamiento inmobiliario con sede en São Paulo.</li><li>Representó a SoftBank en su inversión conjunta con Tencent de US$ 150 millones en la ronda de financiación de la Serie C en la aplicación argentina de servicios bancarios digitales Ualá.</li><li>Representó a SoftBank en su inversión de US$ 100 millones en Konfio, una plataforma servicios financieros en México.</li><li>Representación de SoftBank en su inversión en Buser, Ltd., un servicio de reservas en línea de alquiler de autobuses interurbanos en Brasil.</li></ul><h5>Finanzas</h5><ul><li>Representó a Andean Tower Partners Colombia, operador y desarrollador de la infraestructura de telecomunicaciones inalámbricas propiedad de Digital Bridge, en la operación de refinanciamiento de US$ 55 millones otorgada por Scotiabank Colpatria. Se espera que Andean Tower Partners Colombia utilice los fondos para desarrollar y adquirir activos de infraestructura de telecomunicaciones.</li><li>Representación de Satélites Mexicanos, S.A. de C.V. en su plan preestablecido de reorganización y emisión para una financiación de salida de US$ 325 millones de los pagarés de garantía preferente (senior secured notes), y ofertas de pagarés de seguimiento (follow-on note offerings).</li><li>Representó a emisores costarricenses y estadounidenses en el refinanciamiento de una instalación existente mediante la emisión y la colocación privada de US$ 250 millones en notas a filiales de un proveedor de seguros de los Estados Unidos.</li><li>Representó a Torres Unidas Chile SpA y Torres Unidas del Perú S.R.L., empresas de telecomunicaciones e infraestructura de Chile y Perú respectivamente, en el otorgamiento de préstamos a plazo con garantía cruzada de US$ 120 millones con Scotiabank Chile y Scotiabank Perú S.A.A., y en el refinanciamiento múltiple de dichos préstamos durante un período de seis años.</li><li>Representó a un inversionista líder de capital privado en los mercados en crecimiento de toda América Latina en su línea de crédito rotativo de US$ 120 millones con un banco multinacional prominente.</li><li>Representó a un operador de torres costarricense en su contrato de un préstamo a plazo con un banco comercial líder en Costa Rica.</li><li>Representó a una de las empresas de servicios financieros más grande del mundo en servicios de crédito sindicado, servicios de financiación de adquisiciones y otras operaciones de financiamiento en diversas industrias de toda América Latina, entre ellas las de Guatemala, Honduras, El Salvador, Panamá, República Dominicana y Nicaragua.</li><li>Representó a un minorista salvadoreño en relación con financiamientos en múltiples divisas por valor de US$ 300 millones garantizadas con activos en 11 jurisdicciones del Caribe. La adquisición se consumó en parte mediante ofertas públicas en Jamaica y Barbados.</li><li>Representó al administrador y operador de 52 instalaciones aeroportuarias de Argentina, Italia, Brasil, Uruguay, Ecuador, Armenia y Perú en su oferta pública inicial (IPO) de US$ 485 millones en la Bolsa de Valores de Nueva York (NYSE).</li><li>Representó a emisores privados extranjeros alemanes en diversas industrias en relación con las ofertas públicas iniciales y las cotizaciones en el Nasdaq.</li><li>Representó a un asegurador en múltiples ofertas de seguimiento (follow-on offerings) para un fondo de inversión cerrado centrado en la nanotecnología.</li></ul>

Randy, co-líder do Latin America Desk e sócio da área empresarial, assessora clientes multinacionais em fusões e aquisições internacionais, joint ventures e transações de valores mobiliários e financeiros no Caribe, Europa, Estados Unidos, América Central e do Sul.Randy assessorou várias empresas globais e européias no estabelecimento e desenvolvimento de suas atividades nos Estados Unidos, bem como na gestão de suas operações na América Latina. Representa também emissores em ofertas de ações e dívida.Sua experiência em fusões e aquisições é concentrada em fusões e aquisições internacionais em uma ampla gama de setores, incluindo serviços financeiros, telecomunicações, mídia, entretenimento, energia, agricultura, alimentos e bebidas.<h4>Casos Representativos (incluindo experiências em outros escritórios)</h4><h5>Fusões e aquisições</h5><ul><li>Representou SoftBank em uma rodada de investimentos Série B liderada pelo Latin America Fund do SoftBank no valor total de US$ 125 milhões na AlphaCredit, uma das plataformas de tecnologia financeira de maior crescimento na América Latina.</li><li>Representou a Inchcape, líder global independente na distribuição e varejo de carros multimarcas, na aquisição, por £ 47 milhões, da Autolider, distribuidora das marcas da Daimler no Uruguai e no Equador.</li><li>Representou a Dolphin Entertainment, Inc., uma empresa independente líder em marketing de entretenimento premium e desenvolvimento de conteúdo, na aquisição, por US$ 3 milhões de uma empresa de relações públicas e gerenciamento de mídia com sede no Brooklyn, Nova York, especializada em música, entretenimento e cultura popular.</li><li>Representou SoftBank em uma rodada de investimentos Série D, totalizando US$ 250 milhões na QuintoAndar, uma plataforma de leasing imobiliário com sede em São Paulo.</li><li>Representou SoftBank em seu investimento, em conjunto com a Tencent, no total de US$ 150 milhões, na rodada de financiamento Série C no aplicativo argentino de serviços bancários digitais Ualá.</li><li>Representou SoftBank em seu investimento de US$ 100 milhões na Konfio, uma plataforma de serviços financeiros no México.</li><li>Representou SoftBank em seu investimento na Buser, Ltd., um serviço de reservas on-line para aluguel de ônibus interurbanos no Brasil.</li></ul><h5>Financiamentos</h5><ul><li>Representou a Andean Tower Partners Colombia, operadora e desenvolvedora de infraestrutura de telecomunicações sem fio de propriedade da Digital Bridge, na operação de refinanciamento de US$ 55 milhões concedida pelo Scotiabank Colpatria. Espera-se que os fundos sejam utilizados pela Andean Tower Partners Colombia para desenvolver e adquirir ativos de infraestrutura de telecomunicações.</li><li>Representou Satélites Mexicanos, S.A. de C.V. em seu plano de reorganização e emissão pré-estabelecido para um financiamento de US$ 325 milhões em notas prioritárias garantidas e ofertas subsequentes de notas.</li><li>Representou emissores da Costa Rica e dos Estados Unidos no refinanciamento de uma instalação existente, por meio de uma emissão privada de US$ 250 milhões em notas a subsidiárias de um provedor de seguros dos Estados Unidos.</li><li>Representou a Torres Unidas Chile SpA e a Torres Unidas del Perú S.R.L., empresas de telecomunicações e infraestrutura do Chile e Peru, respectivamente, na concessão de empréstimos a prazo com garantia cruzada de US$ 120 milhões com o Scotiabank Chile e Scotiabank Perú S.A.A., e no refinanciamento múltiplo desses empréstimos por um período de seis anos.</li><li>Representou um investidor líder em private equity em mercados em crescimento na América Latina em sua linha de crédito rotativo de US$ 120 milhões com um importante banco multinacional.</li><li>Representou um operador de torres na Costa Rica em seu contrato de empréstimo com um banco comercial líder na Costa Rica.Z</li><li>Representou uma das maiores empresas de serviços financeiros do mundo em serviços de crédito sindicado, serviços de financiamento de aquisição e outras operações de financiamento em vários setores da América Latina, incluindo Guatemala, Honduras, El Salvador, Panamá, República Dominicana e Nicarágua.</li><li>Representou um varejista salvadorenho no financiamento de várias moedas no valor de US$ 300 milhões garantido com ativos em 11 jurisdições do Caribe. A aquisição foi parcialmente concluída por meio de ofertas públicas na Jamaica e Barbados.</li><li>Representou o administrador e operador de 52 instalações aeroportuárias na Argentina, Itália, Brasil, Uruguai, Equador, Armênia e Peru em sua oferta pública inicial (IPO) de US$ 485 milhões na Bolsa de Valores de Nova York (NYSE).</li><li>Representou emissores privados estrangeiros alemães em vários setores em relação a ofertas públicas iniciais na Nasdaq.</li><li>Representou uma seguradora em várias ofertas subsequentes para um fundo de investimento fechado focado em nanotecnologia.</li></ul>

Randy Bullard

Managing Partner, Miami

Ludovica Gardani is an associate in the firm’s Corporate Practice. She advises clients in the United States and Latin America on mergers and acquisitions, joint ventures, securities and capital market transactions, and public and private offerings.Ludovica works with public and private companies on strategic investments, financings, and cross-border licensing in a wide range of industries, including technology, retail, infrastructure, and fintech. She also represents companies in connection with a wide range of securities matters such as public and private offerings, SEC reporting obligations, and offerings pursuant to Rule 144A and Regulation S.Ludovica graduated from University of Miami School of Law where she was Executive Editor of the Business Law Review.<h4>Representative Experience</h4><ul><li>Represented Petlove&Co. in connection with its financing round with existing major investors, Tarpon, SoftBank, L Catterton, Porto Seguro and Monashees, and a new initial investment by Riverwood Capital. This is the largest financing round in Petlove&Co’s history.</li><li>Represented SoftBank Latin America Fund in connection with a Series C funding round in Addi, a fintech startup based in Bogota, Colombia that offers buy-now-pay-later technology.</li><li>Represented Inchcape, the leading global independent multi-brand automotive distributor and retailer, in its cash-free and debt-free £47 million acquisition of Autolider, a distributor of Daimler brands in both Uruguay and Ecuador.</li></ul>

Ludovica Gardani é associada da área empresarial. Ela assessora clientes nos Estados Unidos e na América Latina em fusões e aquisições, joint ventures, transações de valores mobiliários e de mercado de capitais e ofertas públicas e privadas.Ludovica trabalha com empresas públicas e privadas em investimentos estratégicos, financiamentos e licenciamentos cross-borders em uma ampla gama de indústrias, incluindo tecnologia, varejo, infraestrutura e tecnologia financeira. Ela também representa empresas em relação a uma ampla gama de questões sobre valores mobiliários, como ofertas públicas e privadas, obrigações de reporte da U.S. Securities and Exchange Commission (SEC) e ofertas de acordo com a Regra 144A e o Regulamento S.Ludovica se formou na Faculdade de Direito da Universidade de Miami, onde foi editora executiva da Business Law Review.<h4>Experiência Representativa</h4><ul><li>Representou a Inchcape, líder global independente na distribuição e varejo de carros multimarcas, na aquisição, por £ 47 milhões, da Autolider, distribuidora das marcas da Daimler no Uruguai e no Equador.</li></ul>

Ludovica Gardani es asociada en el Departamento Corporativo de la firma. Asesora a clientes en los Estados Unidos y América Latina sobre fusiones y adquisiciones, empresas conjuntas (joint ventures), transacciones de valores y mercado de capitales, y ofertas públicas y privadas.Ludovica trabaja con empresas públicas y privadas en inversiones estratégicas, financiamientos y licencias transfronterizas en una amplia gama de industrias, que incluyen tecnología, comercio minorista, infraestructura y tecnología financiera. También representa a empresas en relación con una amplia gama de asuntos de valores, tales como ofertas públicas y privadas, obligaciones de informes de la SEC y ofertas de conformidad con la Regla 144A y el Reglamento S.Ludovica se graduó de la Facultad de Derecho de la Universidad de Miami, donde fue Editora Ejecutiva del Business Law Review.<h4>Experiencia Representativa</h4><ul><li>Representó a Inchcape, el distribuidor y comerciante automotriz independiente líder a nivel mundial, en su adquisición de Autolider, un distribuidor de las marcas Daimler en Uruguay y Ecuador por £ 47 millones.</li></ul>

Ludovica Gardani-Menendez

Associate

Giselle C. Sardiñas is an associate in the Miami office of Morrison Foerster and a member of the firm’s Real Estate Group.Giselle earned her J.D. magna cum laude from the University of Miami School of Law where she was the Symposium Editor for the University of Miami Law Review. Giselle was also elected to Order of the Coif and earned the Dean’s Certificate of Achievement Award for legal communication and research skills.Giselle holds a B.S.B.A. in International Finance, Marketing, and Legal Studies from the University of Miami. She is fluent in Spanish.