Pilar Ay

Pilar Ay

Pilar Ay concentrates her practice on corporate structuring and governance, company and investor-side venture and debt financings, private investment fund formation and operation, including CORFO backed-funds, domestic and cross-border mergers and acquisitions, blockchain and artificial intelligence.

Pilar also advises startup companies in the development of strategies for the protection, licensing and other exploitation of intellectual property assets.

Employment History

  • Associate, 2018 to date

Experience

Venture Capital

  • Uber – Cornershop: Advised both clients as joint counsel in the US$3,000 million agreement to acquire fully ownership of Cornershop, by means of the acquisition of the remaining 47% not owned by Uber. This deal is the second step of the previous acquisition of a controlling interest in Cornershop by Uber in 2019 and 2020.
  • Fracttal: We advised our client Fracttal SpA in raising a US$ 5.3 million investment round. The process was led by the Spanish fund Seaya Ventures and counted with the participation of the fund GoHub, which is part of the Spanish group Global Omnium.
  • Colektia: Advised the client in the closing of a Series A Preferred Stock financing round, for a value of USD $4,200,000.
  • Instacrops: We advised the client in the investment of US$2,000,000 through a capital increase and the issuance of Series A Preferred Shares of Agronet SpA. These shares were paid with the conversion of instruments against the company, and with cash.
  • Fen Ventures II: We advised the client, a local VC firm, which invested through its private equity fund FIP Fen Ventures II in eight Chilean technology companies, based in Chile and abroad Agenda Pro (March 2018); Praxis Biotech LLC (July 2020); Andes Ag, Inc (March 2020); Chattigo SpA (February 2020); Get On Board SpA (November 2019); Citysense Co. (February 2020); Migrante Sociedad Financiera SpA (March 2020); Insurtech SpA (today HOUM) (February 2020); la Chile SpA (August 2020); Políglota SpA (November 2020); Enviame Latam SpA (December 2020); Lentes Plus (December 2020) and Mudango Chile SpA (March 2021).
  • Comunidad Feliz: We advised the client, a platform for property management, on its Series A financing round, which was led by Clout, for a value of USD $2,000,000.
  • FIP Vulcano- Administradora Dadneo II S.A: We advised the client, a local VC firm, which invested through its private equity fund FIP Vulcano in seven Chilean technology companies, based in Chile and abroad, and the conversion of their outstanding notes in Go Rabbit SpA (E-monk), Pago46 Chile SpA, Pleiq Smart Toy SpA, Roombeast SpA, Simplo S.A., Slik Chile SpA and Wheel The World, Inc.
  • A3 Electric Mobility SpA (A3E): We advised A3E, an electric mobility solutions company, on its Series A financing round, which was led by two local investors, for a total amount of US$2,000,000.

Merger and Acquisitions

  • RedCapital: Advised the client in the US$ 2,000,000 financing round, led by HCS Capital and also underwritten by a new investor, Quest Capital.
  • Talana: We advised the client, a Chilean start-up that developed an HR software, on the sale of the majority ownership to Endurance Investments, who bought through a public investment fund created specifically for this investment.
  • Cornershop and Uber Technologies, Inc.: We advise Uber and Cornershop as joint counsel in the announced agreement to acquire majority ownership of Cornershop, which controls 100% of Cornershop Technologies LLC, a leading company in logistics and intermediation for online grocery delivery in Chile, Mexico, and recently in Peru, Brazil, Colombia and Toronto.
  • Colbún S.A.: We assist the client, one of the biggest electric generators in Chile, in the acquisition of Efizity Group, a Chilean start up, composed of four companies, dedicated to the energy efficiency management and consulting for regulated and non-regulated customers of the electrical system, with operations in Chile, Peru and Colombia.
  • Arch Daily: Advise the client on the sale of its digital architecture platform “ArchDaily” with operations in Chile, Mexico, USA, Hong Kong and China to the Swiss company, Architonic AG.
  • Messer Group – CVC Capital Partners: Advise on the purchase of the Chilean assets of Linde due to the merger between Praxair and Linde (USD $3.3 billion globally)
  • Cornershop (Chile – México): Advise on the potential sale of Cornershop to Walmart (USD $225 million)
  • Zurich (Switzerland): Advise on the purchase of life insurance portfolio of Euroamerica Seguros de Vida S.A. and 100% of the shares of the Euroamerica Administradora General de Fondos S.A. (USD $155 million)
  • The Coca Cola Company – Andina – Embonor (USA – Chile): Advise on the purchase of 100% of Comercializadora Novaverde S.A.- “Guallarauco” (USD $80 million)

Admissions

  • Chile (2019)

Recognitions

  • Chambers – Latam – Chile, Associate to Watch in Venture Capital 2021

Languages

  • Spanish and English

Education

  • Law, School of Law, Pontificia Universidad Católica de Chile, 2018

Publications

  • “The right to emigrate as a social right: analysis of the jurisprudence of the Constitutional Court of Chile,” Alberto Hurtado University, 2016
  • “Independent Directors, One size fits all solutions?” Center for Corporate Governance UC-Deloitte, 2017

Events

  • Interuniversity Constitutional Law and Human Rights Conference, Alberto Hurtado University (2016): “The right to emigrate as a social right: An analysis from the jurisprudence of the Constitutional Court of Chile”
  • Composium of the “Law without walls” Program of the University of Miami (2017): “Recruit +”

News

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Related Services
  • Corporate & M&A
  • Venture Capital
  • TMT (Telecoms, Media, Technology)
  • Intellectual Property