Zurich Chile AGF’s Investment in the Awto Platform

Honorato | Delaveau advised Zurich Chile Asset Management AGF S.A. in the transaction.

Zurich Chile Asset Management AGF S.A. executed the acquisition of a 10% stake in the shares issued by Karsharing SpA, better known as the Awto platform. The acquisition vehicle was a specially created fund managed by Zurich.

The transaction involved the due diligence of the target company, the negotiation of the Share Subscription Agreement and the Shareholders’ Agreement, as well as the drafting and negotiation of the corporate documents related to the capital increase for this round of financing of Awto.
This transaction is Zurich Chile AGF’s first Venture Capital investment.

Awto is the continent’s first car sharing service, a platform dedicated to car leasing with parking spots, allowing users to drive a vehicle without owning their own. It currently operates in Chile and Argentina. It has a fleet of more than 450 vehicles, more than 35,000 registered users, 1,800 new monthly users and an occupancy rate of 17%, available 24×7.

Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations.

The Honorato | Delaveau team was led by partner Sebastián Delpiano (Picture), together with associates Nicolás García, Andrea Alarcón and Ignacio Ruiz-Tagle.

Involved fees earner: Andrea Alarcón – Honorato Delaveau y Cía; Sebastián Delpiano – Honorato Delaveau y Cía; Nicolás García – Honorato Delaveau y Cía; Ignacio Ruiz-Tagle – Honorato Delaveau y Cía;

Law Firms: Honorato Delaveau y Cía;

Clients: Zurich Chile Asset Management AGF S.A.;