Francisco Guzmán

Carey advises Toteat on $3.5m in financing

Carey has advised Toteat, a restaurant management start-up, on a USD $3.5 million financing round through the issuance of convertible notes, aimed at expanding its business.

This transaction was closed on 25 November, and involved the jurisdictions of Chile and the United States (Delaware).

The financing round is aimed at financing the expansion of the company’s business and addressing the capital requirements of its business plan.

Puerto Rican VC fund Morro Ventures acted as Lead Investor, advised by Ovalle Consejeros Legales, providing US $1.25 million, together with previous investors, including the family offices of the Luksic, Edwards and Varela families.

Ovalle’s team comprised partner Javier Ovalle, director Barbara Morgan and associate Antonia Prieto.

Carey’s team was led by partner Francisco Guzmán (pictured), with support from associates Andrés Latorre, Carolina Miller, Sofía Beckdorf and María Luisa Oliva.

L Giselle Estrada