CLIN
1. Deal Description
Guerrero Olivos assisted CLIN Private Investment Fund. (“CLIN”) which has relevant contributors including Zoma (related to Walmart), Entel, Fundación Chile and Engie, in two startups. The first one, in Agronet SpA, a hardware-software technology developer that created a special device that allows to maintain a connection between the producers and their agricultural crops. These devices monitor climatic parameters for better management and control of the crops.
The second, in Simplit SpA, that developed a digital platform for online orders and is intended to achieve route optimization and monitoring through web systems and mobile apps.
These investments were materialized by a convertible note. Disbursement was subject to CORFO’s approval. CORFO is the Chilean Economic Development Agency, which grants financing to certain investments in specific areas that are considered relevant for local development. Relevance to this assistance is that we had to negotiate and structure the investment through CORFO’s rules and structure the deal and balance the Founders, CLIN (as investor) and CORFO’s interests.
2. Counsel list
Counsel to CLIN: Guerrero Olivos
Leading Partner Pedro Lyon, senior associate Josefina Yávar and associate Francisca Martínez
Counsel to Simplit SpA. and Instacrops SpA.: Alster, Andrés Jara
3. Date of closing
14/09/2018 (Agronet)
28/09/2018 (Simplit)
4. Deal Value
USD600,000 approximately
5. Jurisdictions involved
Chile