Merama — a leading acquirer and builder of direct-to-consumer businesses in Latin America — announced recently that it raised $225 million in Series B funding at a valuation of about $850 million. And the all-equity round was co-led by Advent International and SoftBank Group.

New investor Globo Ventures — the venture arm of the Brazil-based media conglomerate — and existing investors Monashees, Valor Capital, Balderton Capital, and MAYA Capital also participated in the financing, which was more than three times oversubscribed.

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