National law firm Shoosmiths has advised Mexican venture capital fund Dalus Capital on its investment into the largest Google Cloud partner in Latin America.
The $6.5 million investment into Xertica, which Dalus Capital led alongside Endeavour Catalyst and EMTV, will allow it to expand its digital capabilities and take advantage of the growing public cloud storage and processing market, both in Latin America and across the globe.
It will also see Xertica double its investment into developing new analytical, data and machine learning services which will be available to more than 3,000 businesses.
The IT storage and processing industry is shifting toward Cloud, as opposed to on-site storage. The Cloud market in Latin America is growing rapidly, at more than 27% annually, and is expected to be worth more than $35 billion by 2021.
Alastair Peet, corporate partner at Shoosmiths who led on the deal, said: "This was a great deal for us to be a part of, allowing us to demonstrate our capabilities to the Latin American venture capital market.
"We are very pleased to be working with Dalus Capital, in what is sure to be the start of a strong relationship."
Alastair was assisted on the deal by corporate associate Georgina Rennie.
Diego Serebrisky of Dalus Capital, said: "This is a hugely exciting time to invest in Xertica. It is already well established in this region and looks set to rapidly grow as the market does too, transforming the way thousands of businesses handle their data with the introduction of its new services.
"We were extremely happy with the service Shoosmiths provided in securing the deal."
Dalus Capital's investment forms part of its second fund portfolio.
Xertica currently has a presence in five countries within the region, including Peru and Argentina. It has implemented the most advanced technologies in software and infrastructure, and was named Google Cloud Partner of the Year in 2016.