US venture capital boutique PAG Law has set up a permanent office in New York by hiring a partner from Akerman LLP's Latin America group to lead it.
Corporate lawyer Peter Eccles joined as partner on 5 October to head the New York office. He is supported by partners Zachary Soto and Pedro Menocal, who joined in August.
PAG Law already had a presence in New York, but no lawyers were based there permanently. It launched a small outpost in 2017 to which lawyers travelled from the Miami headquarters when necessary.
The firm, which specialises in Latin American venture capital transactions, has six partners across its two offices.
Eccles, who speaks Portuguese, focuses on corporate, private equity and venture capital transactions in Latin America, particularly in Brazil. He was previously a partner at Akerman after joining from Foley & Lardner LLP in 2018. Eccles advised on Latin American venture capital transactions in his previous roles too, which includes stints at Fox Horan & Camerini LLP and Cleary Gottlieb Steen & Hamilton LLP as well.
PAG Law’s managing partner Juan Pablo Capello says Eccles’ experience advising on Brazilian and Latin American start-up and fintech transactions makes him the “perfect fit” to match clients’ growing demand for venture capital advice in the region.
“There is tremendous growth in the tech sector in Latin America at the moment,” says Eccles when speaking to Latin Lawyer, adding that now is an optimal time for the firm to seize new opportunities with a second office. Only in the last few months, Latin America has seen several start-ups attract investments and become unicorns. For example, Brazilian e-commerce start-up VTEX became a tech unicorn last month after reaching a US$1.7 billion valuation. VTEX funding round closed just weeks after fintech dLocal became Uruguay’s first unicorn with a US$200 million investment, while Mexico got its first unicorn in October, after used-car app Kavak obtained a US$225 million capital injection.
“Latin American tech companies are booming at the moment due to high levels of online buying and the shift to digital devices during quarantine,” says Capello, who remarks that over the past three years, venture capital investors backing start-ups in the region have more than doubled their returns on investments.
The addition of an outpost in New York will allow the firm to handle this “accelerated period of growth” among start-ups with a strong team of venture capital lawyers, says Eccles. Several venture capital transactions are governed by New York law, as the city is a hub for fintech start-ups looking to obtain funding from major US banks.
The New York office was therefore the next step in the “natural evolution” of the firm, says Cappello, adding that he hopes to grow the new outpost by adding more venture capital lawyers in the future.
Akerman did not respond to Latin Lawyer’s request for comment prior to publishing. The Miami-headquartered firm is best known in Latin America for its corporate and disputes services, while it is also recognised for its Cuba offering. Earlier this year, the head of the firm’s Brazil practice, Felipe Berer, left for Reed Smith LLP’s disputes team.
Cappello formed PAG Law in 2014 after departing Greenberg Traurig LLP with two other lawyers, with the goal of helping Latin American companies to grow through venture capital investment. Since then, the firm has advised around 600 companies in the region, including Argentine e-commerce group Mercado Libre and Venezuelan language-learning app OpenEnglish.
LatAm-focused VC boutique hires Akerman partner
27 OCTOBER 2020
US venture capital boutique PAG Law has set up a permanent office in New York by hiring a partner from Akerman LLP's Latin America group to lead it.
Corporate lawyer Peter Eccles joined as partner on 5 October to head the New York office. He is supported by partners Zachary Soto and Pedro Menocal, who joined in August.
PAG Law already had a presence in New York, but no lawyers were based there permanently. It launched a small outpost in 2017 to which lawyers travelled from the Miami headquarters when necessary.
The firm, which specialises in Latin American venture capital transactions, has six partners across its two offices.
Eccles, who speaks Portuguese, focuses on corporate, private equity and venture capital transactions in Latin America, particularly in Brazil. He was previously a partner at Akerman after joining from Foley & Lardner LLP in 2018. Eccles advised on Latin American venture capital transactions in his previous roles too, which includes stints at Fox Horan & Camerini LLP and Cleary Gottlieb Steen & Hamilton LLP as well.
PAG Law’s managing partner Juan Pablo Capello says Eccles’ experience advising on Brazilian and Latin American start-up and fintech transactions makes him the “perfect fit” to match clients’ growing demand for venture capital advice in the region.
“There is tremendous growth in the tech sector in Latin America at the moment,” says Eccles when speaking to Latin Lawyer, adding that now is an optimal time for the firm to seize new opportunities with a second office. Only in the last few months, Latin America has seen several start-ups attract investments and become unicorns. For example, Brazilian e-commerce start-up VTEX became a tech unicorn last month after reaching a US$1.7 billion valuation. VTEX funding round closed just weeks after fintech dLocal became Uruguay’s first unicorn with a US$200 million investment, while Mexico got its first unicorn in October, after used-car app Kavak obtained a US$225 million capital injection.
“Latin American tech companies are booming at the moment due to high levels of online buying and the shift to digital devices during quarantine,” says Capello, who remarks that over the past three years, venture capital investors backing start-ups in the region have more than doubled their returns on investments.
The addition of an outpost in New York will allow the firm to handle this “accelerated period of growth” among start-ups with a strong team of venture capital lawyers, says Eccles. Several venture capital transactions are governed by New York law, as the city is a hub for fintech start-ups looking to obtain funding from major US banks.
The New York office was therefore the next step in the “natural evolution” of the firm, says Cappello, adding that he hopes to grow the new outpost by adding more venture capital lawyers in the future.
Akerman did not respond to Latin Lawyer’s request for comment prior to publishing. The Miami-headquartered firm is best known in Latin America for its corporate and disputes services, while it is also recognised for its Cuba offering. Earlier this year, the head of the firm’s Brazil practice, Felipe Berer, left for Reed Smith LLP’s disputes team.
Cappello formed PAG Law in 2014 after departing Greenberg Traurig LLP with two other lawyers, with the goal of helping Latin American companies to grow through venture capital investment. Since then, the firm has advised around 600 companies in the region, including Argentine e-commerce group Mercado Libre and Venezuelan language-learning app OpenEnglish.
LatAm-focused VC boutique hires Akerman partner
27 OCTOBER 2020
US venture capital boutique PAG Law has set up a permanent office in New York by hiring a partner from Akerman LLP's Latin America group to lead it.
Corporate lawyer Peter Eccles joined as partner on 5 October to head the New York office. He is supported by partners Zachary Soto and Pedro Menocal, who joined in August.
PAG Law already had a presence in New York, but no lawyers were based there permanently. It launched a small outpost in 2017 to which lawyers travelled from the Miami headquarters when necessary.
The firm, which specialises in Latin American venture capital transactions, has six partners across its two offices.
Eccles, who speaks Portuguese, focuses on corporate, private equity and venture capital transactions in Latin America, particularly in Brazil. He was previously a partner at Akerman after joining from Foley & Lardner LLP in 2018. Eccles advised on Latin American venture capital transactions in his previous roles too, which includes stints at Fox Horan & Camerini LLP and Cleary Gottlieb Steen & Hamilton LLP as well.
PAG Law’s managing partner Juan Pablo Capello says Eccles’ experience advising on Brazilian and Latin American start-up and fintech transactions makes him the “perfect fit” to match clients’ growing demand for venture capital advice in the region.
“There is tremendous growth in the tech sector in Latin America at the moment,” says Eccles when speaking to Latin Lawyer, adding that now is an optimal time for the firm to seize new opportunities with a second office. Only in the last few months, Latin America has seen several start-ups attract investments and become unicorns. For example, Brazilian e-commerce start-up VTEX became a tech unicorn last month after reaching a US$1.7 billion valuation. VTEX funding round closed just weeks after fintech dLocal became Uruguay’s first unicorn with a US$200 million investment, while Mexico got its first unicorn in October, after used-car app Kavak obtained a US$225 million capital injection.
“Latin American tech companies are booming at the moment due to high levels of online buying and the shift to digital devices during quarantine,” says Capello, who remarks that over the past three years, venture capital investors backing start-ups in the region have more than doubled their returns on investments.
The addition of an outpost in New York will allow the firm to handle this “accelerated period of growth” among start-ups with a strong team of venture capital lawyers, says Eccles. Several venture capital transactions are governed by New York law, as the city is a hub for fintech start-ups looking to obtain funding from major US banks.
The New York office was therefore the next step in the “natural evolution” of the firm, says Cappello, adding that he hopes to grow the new outpost by adding more venture capital lawyers in the future.
Akerman did not respond to Latin Lawyer’s request for comment prior to publishing. The Miami-headquartered firm is best known in Latin America for its corporate and disputes services, while it is also recognised for its Cuba offering. Earlier this year, the head of the firm’s Brazil practice, Felipe Berer, left for Reed Smith LLP’s disputes team.
Cappello formed PAG Law in 2014 after departing Greenberg Traurig LLP with two other lawyers, with the goal of helping Latin American companies to grow through venture capital investment. Since then, the firm has advised around 600 companies in the region, including Argentine e-commerce group Mercado Libre and Venezuelan language-learning app OpenEnglish.
