As announced at the United Nations 2023 Climate Change Conference (COP28), the U.S. International Development Finance Corporation (DFC) and the Inter-American Investment Corporation (IDB Invest) co-invested a combined $23 million in preferred equity of micro-mobility platform Tembici to support the expansion of bicycle-sharing services in Latin America. The investments will help Tembici grow its active users in Brazil, Colombia, Chile, and Argentina, reduce automobile usage and annual CO2 emissions, and help protect both the health of residents and the climate globally.Hunton Andrews Kurth LLP is proud to have advised DFC and IDB Invest in this endeavor as international counsel. We drew together talented lawyers from a variety of the Firms disciplines including M&A, agency finance, and venture capital. Mattos Filho acted as Brazil counsel for DFC and IDB Invest on this transaction.