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Portrait of Diego Rodríguez

Diego Rodríguez, LL.M.

Partner

Contact
CMS Carey & Allende
Av. Costanera Sur 2730, Piso 10
Parque Titanium, Las Condes
7550000 Santiago
Chile
Languages Spanish, English
Corporate / M&A

Diego is a partner of the Corporate/M&A team of CMS Carey & Allende. He has advised national and foreign companies, on mergers and acquisitions, private equity and the most noteworthy financing rounds of the last year, which is complemented with joint ventures, shareholder agreements, corporate governance and securities regulation for issuers, investors, intermediaries and other market players.

Diego also leads the Fintech and Venture Capital areas, concentrating his practice on financing rounds and regulatory affairs in the Fintech sector. Likewise, he has provided legal advice and guidance to entrepreneurs on different stages of development.

He is recognized for advising and keeping his clients informed on how trends and new legislation may affect their businesses, and about the opportunities that such changes represent. In this sense, in recent years, he has been a legal advisor to the Asociación Fintech de Chile (a Chilean fintech association) on regulatory issues in this industry, forming part of the round tables convened by the Chilean Financial Market Commission for the discussion of the Fintech Law. 

Diego has been previously employed by Becker, Glynn, Muffly, Chassin & Hosinski LLP, New York, (2013 – 2014).

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"Diego Rodríguez possesses ample experience in venture capital and the development of businesses. His prior experience really helps him with the ideas he puts forward"

Chambers Latin America

"Considered by market sources as an extremely intelligent lawyer with an intuitive grasp of what clients are trying to accomplish. He is also able to communicate effectively"

Chambers Latin America

"Diego Rodríguez stands out for his availability to answer questions that arise"

The Legal 500 - 2022

Relevant experience

  • Merieux Chile, on the acquisition of Tracelab SpA, a laboratory that offers specialized analytical services to the salmon industry in Chile, expanding its presence in the Chilean market for salmon farming and feed producers. Our advice included a due diligence, the definition and negotiation of the main terms of the transaction and negotiation of the closing documents.
  • Pago Fácil, on the sale of this Fintech platform to BCI Pagos, a joint venture between BCI and EVO Payments, which included the negotiation of all of the transactions terms and conditions, leading the due diligence process, accelerating existing vesting programs and convertible notes, prior to the sale.  Our advice also included the design and implementation of the structure required to carry out the operation, considering the tax impact of the same, on Pago Fácil’s shareholders.
  • Lemontech, advised Private Shareholders Chile I on the sale of over 70% of its shares in Lemontech to Accel-KKR, to accelerate Lemontech’s international expansion, growth and strengthening of its product portfolio. Our work included the negotiation of terms and conditions in which Lemontech remains a minority shareholder. 
  • Sonda S.A. on the sale of its subsidiary I-MED S.A. to ACCEL-KKR, a leading American global technology-focused investment firm. I-MED S.A. is the largest connected health network in Spanish-speaking Latin America. Sonda, owned 50% of I-MED ´s shares. The operation included a bank and seller financing. Matter value: USD 120 million
  • Ingram Micro, distributor of computer and technology products, on a daily basis. Currently advising Ingram Chile on a reorganization to merge with Aktio Chile, due to the acquisition by Ingram of Aktio, Value Added Solutions (S-VAD) distributor in 2015. 
  • Enagás Chile on the acquisition of stakes in GNL Quintero S.A. At first, it acquired Endesa’s 20% stake in the company. Then Enagas increased its total stake in the plant to 40.4%. Finally, it acquired an additional 20% of the plant from Aprovisionadora Global de Energía (a company spun off from Metrogas, Gas Natural Fenosa being the majority shareholder). 
  • Sun Dreams on the merger of its operations in Latin America with the South African gaming leader Sun International Ltd.  The combined company became the largest company in this sector in the region and is worth more than USD 1 billion.
  • American Tower Corp on the acquisition of Operadora de Torres de Telefonía Ltda., a subsidiary of Telefónica Móviles de Chile S.A. proprietor of 558 mobile phone towers. Also on the acquisition of 49 towers from Inmobiliaria Antyl S.A. 
  • Sun International Limited on the procurement of a loan of almost USD 67 million from a quartet of commercial banks, led by Banco BCI, to comply with certain requirements under the terms of the merger of its Latin American operations with Dreams S.A. and to acquire a subsequent 5% stake in the combined entity, which remained listed in Chile.
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Awards & Rankings

He is recommended by various legal directories and rankings: Chambers Latin America, Chambers Fintech, The Legal 500 as Next Generation Partner in Venture Capital, Leaders League 2021 and 2022 as leading lawyer in Fintech and Startups & Innovation, and Best Lawyer in Venture Capital and Technology & Digital Services.

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Lectures list

  • Universidad Adolfo Ibáñez. Professor of Fintech and Banking Regulation course (2022)
  • Universidad del Desarrollo, Professor of Venture Capital online course: Investment in Startups (2022)
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Education

  • 2013 – Master Degree in Corporate Law, New York University
  • 2011 – Law Degree, Pontificia Universidad Católica de Chile School of Law
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TMC - Technology, Media & Communications

Diego is co-head of the Technology, Media & Communication (TMC) Group at CMS Carey & Allende. His practice is primarily focused on the information technology industry, with matters related to the drafting and negotiation of complex IT and commercial contracts, including outsourcing agreements and software as a service contracts.  In Telecom, Diego advises on regulatory matters and has participated in important infrastructure M&A transactions, including telecommunications towers and fibre optics.

He is commended for keeping TMC & Fintech clients informed about how trends and new legislation may affect their businesses and the new opportunities such changes represent. In recent years, he has been legal advisor to the Association of Fintech Companies of Chile (FinteChile), an association that represents the most important start-up companies in the fintech industry, on the negotiation with regulators, especially the Financial Market Commission (CMF, Comisión para el Mercado Financiero), in order to establish a new applicable legal framework, to regulate and promote the development of this industry in the country, being part of the roundtables called by the CMF to work on the Chilean Fintech Law.

Diego is also the partner in charge of the CMS equIP programme in Chile, a first-of-its-kind global legal accelerator programme, designed to nurture the development of a group of start-ups carefully selected to support their growth, helping them become strong candidates for a Series A round of venture capital financing, either in their local markets and/or in the international markets in which they seek to enter or seek investments.

Diego worked at Becker, Glynn, Muffly, Chassin & Hosinski LLP, New York (2013-2014).

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"Diego Rodríguez understands technology companies. It is important to understand this particular industry well in order to give good legal advice."

The Legal 500 - 2021

"Diego Rodríguez stands out for his availability to answer questions that arise"

The Legal 500 - 2022

Relevant experience

  • Pago Fácil, on the sale of this Fintech platform to BCI Pagos, a joint venture between BCI and EVO Payments, which included the negotiation of all of the transactions terms and conditions, leading the due diligence process, accelerating existing vesting programs and convertible notes, prior to the sale.  Our advice also included the design and implementation of the structure required to carry out the operation, considering the tax impact of the same, on Pago Fácil’s shareholders.
  • Lemontech, leading Latin American legal software provider, on the sale of over 70% of its shares to investment fund Accel-KKR, a part of the Accel group which invests in companies such as Facebook, Spotify and Dropbox. Accel-KKR´s injection of funds is aimed at innovating Lemontech products and services offered to over 10,000 Spanish-speaking lawyers. 
  • Sonda S.A. on the sale of its subsidiary I-MED S.A. to ACCEL-KKR, a leading American global technology-focused investment firm. I-MED S.A. is the largest connected health network in Spanish-speaking Latin America. Sonda, owned 50% of I-MED ´s shares. The operation included a bank and seller financing. Matter value: USD 120 million.
  • American Tower Corp Chile on a daily basis, covering all aspects of their business in Chile, especially regarding modifications to the telecommunication legal framework in Chile.
  • Ingram Micro on regulatory and compliance issues relating to IT outsourcing, Data Privacy and Technology Contracts.
  • Sonda S.A. on the issuing of corporate bonds on behalf of Sonda in the local market totaling 3 million Development Units (Unidades de Fomento), USD 117 million approx., for the financing of their investment plans.
  • Participated on the team that advised Andean Development Corporation (CAF) on consortium headed by CAF and the IFC in the raising of USD 250 million of capital for the telephone operator Avantel.
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Awards & Rankings

He is recommended by various legal directories and rankings: Chambers Latin America, Chambers Fintech, The Legal 500 as Next Generation Partner in Venture Capital, Leaders League 2021 and 2022 as leading lawyer in Fintech and Startups & Innovation, and Best Lawyer in Venture Capital and Technology & Digital Services.

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Lectures list

  • Universidad Adolfo Ibáñez. Professor of Fintech and Banking Regulation course (2022)
  • Universidad del Desarrollo, Professor of Venture Capital online course: Investment in Startups (2022)
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Education

  • 2013 – Master Degree in Corporate Law, New York University
  • 2011 – Law Degree, Pontificia Universidad Católica de Chile School of Law
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Venture Capital

Diego is partner and head of the Venture Capital and Fintech Groups at CMS Carey & Allende. His practice is focused on M&A, private equity, financing rounds and regulatory matters in Chile and abroad, which he complements with joint ventures, flips, negotiation of different types of agreements, advice on corporate governance matters and design and implementation of corporate structures for the materialization of businesses. He also provides legal advice and mentoring to start-ups at different stages of development.

He is commended for advising and keeping clients informed on how trends and new legislation may affect their business, particularly the Fintech industry, and the opportunities such changes represent. 

Diego is also the partner in charge of the CMS equIP program in Chile, a global legal accelerator of CMS to promote the development of start-ups, which are carefully selected, to support their growth, helping them become strong candidates for Series-A, either in local and/or international markets.

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"Diego Rodríguez is undoubtedly a well-versed practitioner and expert in venture capital matters"

Chambers Latin America - 2023

"Diego Rodríguez is an excellent lawyer, a skilled negotiator and with powerful knowledge of the financial industry and business"

The Legal 500 - 2022

Relevant experience

  • Migrante,  a key start-up in the Fintech sector, which provides financing to immigrants, on its operations in Chile and abroad. Our advice included the closing of a series A financing round for USD 29 million, led by Kayyak Ventures and Fynsa. Additionally, we advised them on procuring a loan for USD 1.5 million from the Inter-American Development Bank Innovation Laboratory (IDB Lab), which will allow our client to expand and internationalize its services to other countries in the region, starting with Peru.
  • Pago Fácil, continuous legal advice from the first and earliest stages of this Chilean collection management platform, the first to receive a formal investment from a commercial bank, until its exit in the sale to BCI Pagos, a joint venture between BCI and EVO Payments, which included the negotiation of all of the transaction’s terms and conditions, leading the due diligence process, accelerating existing vesting programs and convertible notes, prior to the sale.  Our advice also included the design and implementation of the structure required to carry out the operation, considering the tax impact of the same, on Pago Fácil’s shareholders.
  • General Catalyst, a US Venture Capital firm that focuses on early stage and growth investments, mainly in the healthcare industry, to lead the Series A financing round for Examedi for USD 17 million.
  • Lemontech  on the sale of over 70% of its shares in Lemontech to Accel-KKR, to accelerate Lemontech’s international expansion, growth and strengthening of its product portfolio. Our work included the negotiation of terms and conditions in which Lemontech remains a minority shareholder. 
  • Advised on the sale of all its shares in Acepta.com to Inversiones FQC Dos Ltda. Accepta.com is in Chile, Peru and Colombia, and offers various online solutions such as electronic invoicing, digital signature, Time stamping, among others.
  • Advised on the sale of its subsidiary I-MED S.A. to ACCEL-KKR, a leading American global technology-focused investment firm. I-MED S.A. is the largest connected health network in Spanish-speaking Latin America. Sonda, owned 50% of I-MED ´s shares. The operation included a bank and seller financing. Matter value: USD 120 million. 
  • Broota, provided advisory services to set up the first equity-based crowdfunding platform in Chile, Brazil and Peru. Our work includes an assessment of the regulatory environment that this new industry faces and interaction with the securities regulator in Chile in order to align the existing regulation with the new developments. We have also assisted Broota through its platform on nearly 50 successful financing rounds with more than 2,600 investors, raising approximately USD 12 million. Our advice includes carrying out the due diligence processes of the start-ups, designing the investment structure according to the client's interests and the negotiation and closing of all legal documentation.
  • Toku, a Fintech recurring payments for B2C companies in Latin America, on the negotiation and closing of a seed financing round for USD 2 million. We also advised on the flip of the company to the United States to carry out its next investment round that will be carried out through Y Combinator.
  • Platanus Ventures, advised this key start-up accelerator in Chile (which was recently recognized by Forbes as Latin America’s Y Combinator), on a wide array of innovative legal solutions, from the tax analysis of its investments to the legal structures in which it will participate in the start-up portfolio.
     

     
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Awards & Rankings

He is recommended by various legal directories and rankings: Chambers Latin America, Chambers Fintech, The Legal 500 as Next Generation Partner in Venture Capital, Leaders League 2021 and 2022 as leading lawyer in Fintech and Startups & Innovation, and Best Lawyer in Venture Capital and Technology & Digital Services.

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Lectures list

  • Universidad Adolfo Ibáñez. Professor of Fintech and Banking Regulation course (2022)
  • Universidad del Desarrollo, Professor of Venture Capital online course: Investment in Startups (2022)
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Education

  • 2013 – Master Degree in Corporate Law, New York University
  • 2011 – Law Degree, Pontificia Universidad Católica de Chile School of Law
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Feed

29/11/2022
The Paypers in­tro­duces the Crypto Pay­ments and Web 3.0 For Banks, Mer­chants,...
Our cryto team lead by Diego Rodríguez con­trib­uted to The Payper­s' the re­port, “Crypto Pay­ments and Web 3.0 for Banks, Mer­chants, and PSPs Re­port”  in the chapter on the Reg­u­lat­ory Land­scape and...
08/11/2022
Data pro­tec­tion and cy­ber­se­cur­ity laws in Chile
Data pro­tec­tion 1. Loc­al data pro­tec­tion laws and scope The prin­cip­al data pro­tec­tion le­gis­la­tion is Law 19.628 “on pro­tec­tion of private life” (also known as the Chilean Data Pro­tec­tion Law or...
Comparable
18/08/2022
KARÜN OB­TAINS USD 2 MIL­LION IN FUND­ING FROM BTG PAC­TU­AL
CMS Carey & Al­lende ad­vised Karün, a Chilean start-up that man­u­fac­tures eye­glasses with re­cycled ma­ter­i­als, on the ne­go­ti­ation and clos­ing of a fin­an­cing deal with BTG Ven­ture Debt, through which Karün...
07/09/2021
Elec­tron­ic sig­na­ture law in com­mer­cial con­tracts in Chile
1. Defin­i­tion and form­al re­quire­ments of writ­ten leg­al state­ments or leg­al state­ments leg­ally bind­ing if the law re­quires writ­ten form Law 19,799 on Elec­tron­ic Doc­u­ments, sets out the valid­ity of ob­lig­a­tions...
09/2021
Fintech
Fintech Bil­lOn 3 Septem­ber 2021, the Pres­id­ent of Chile, through Mes­sage No. 172-369, an­nounced a bill to pro­mote com­pet­i­tion and fin­an­cial in­clu­sion through in­nov­a­tion and tech­no­logy in the pro­vi­sion...
16/08/2021
Data pro­tec­tion and se­cur­ity
Ex­pert leg­al ad­visers
17/06/2021
Crip­tomone­das en Chile
En Chile ex­iste aún bastante desin­form­a­ción re­specto a las crip­tomone­das, aún cuando vemos como grandes empre­s­as como Tesla, JP Mor­gan, PayP­al y re­ciente­mente VISA han apostado por di­cho act­ivo. No...
17/06/2021
Venta de la FinTech Pago Fá­cil
CMS Carey & Al­lende, lid­erados por su so­cio Diego Rodríguez, ase­soró en la venta de Pago Fá­cil a BCI Pa­gos, un joint Ven­ture entre Bci (Banco de Crédito e In­ver­siones) y EVO Pay­ments.Pago Fá­cil...
31/05/2021
CMS Net­work Shar­ing 4.5
On the brink of a new gen­er­a­tion
07/04/2021
Fintech in Chile
1. Fintech in Lat­in Amer­ica: over­view of loc­al mar­kets  As of today, it is es­tim­ated that there are around 160 Fintech com­pan­ies in Chile, of which around 100 are af­fil­i­ated with the As­so­ci­ation of...
Comparable
18/03/2021
Ex­per­tos le­gales piden flex­ib­il­iz­ar regu­la­ción para que los ban­cos puedan...
No sólo en la Unión Europa y Es­ta­dos Unidos ex­isten difer­entes mecan­ismo en que los ban­cos pueden hacer op­era­ciones fin­an­ci­er­as con las FinTech, sino que tam­bién en Brasil, México, Perú y Colom­bia."Chile...
30/11/2020
Proyecto de Ley Fintech
El pas­ado 3 de noviembre se comu­nicó que el Min­is­terio de Hacienda ha dis­puesto de nue­vos ase­sores cuya fun­ción ex­clu­siva será la elabora­ción de un proyecto de Ley Fintech y Open Bank­ing. Ya en ab­ril...