Matías Zegers

Matias Zegers

Managing Partner
Latam Practice Group Regional Co-Leader, Emerging Growth and Venture Capital 
"Matías is extremely experienced and knowledgeable - he is our trusted adviser." - Chambers FinTech Guide 2024
Chambers – FinTech - 2022
About

Matías Zegers serves as Managing partner of DLA Piper Chile, leading the Corporate and M&A practice group of the firm. He is also a member of the DLA Piper´s Americas Executive Committee.

Matías focuses his practice on Mergers and Acquisitions, Corporate Governance and Venture Capital. He is considered one of the most experienced lawyers in Corporate Governance and Venture Capital in Chile and in the region, having being consistently recognized as such by multiple rankings and publications.

In M&A, he has advised clients in several purchase and sale operations of public and private companies, both domestic and foreign. He has also participated in tender offers, privatization of electric and sanitary companies in Latin America, debt and equity issuances in the local and international markets, both registered and unregistered.

In Venture Capital and Entrepreneurship matters, he has advised clients in landmark transactions, many of them the first to be closed in Chile. Also, he has significant experience in investment funds and designing innovative solutions to fund venture capital, structuring financing products, and applying for public funds, among others. As one of the leading Chilean attorney in Venture Capital and Entrepreneurship, Mr. Zegers has been a pioneer assisting multiple tech and biotech companies in almost all the relevant verticals of the industry, both start-ups and scale-ups.

Matías is a reference at the regional level of good Corporate Governance practices, advising leading national and regional companies in matters such as boards and committees, directors' responsibilities and their evaluation, manuals and policies, among others.

Matías has developed an extended academic career. He is tenured professor at Pontificia Universidad Católica de Chile´s Law School and Executive Chairman of the Centro de Gobierno Corporativo UC. He is also member of the Latin American Roundtable in Corporate Governance and TaskForce of Related Parties' Transactions, both of the OECD and board member of the Fundación Carlos Vial Espantoso.

EXPERIENCE

M&A

  • Modyo: Advised the client, a Chilean SaaS company specializing in providing frontend digital solutions to financial, banking, and insurance companies, on the sale of 100% of its equity interest to Harris Holdings Chile SpA. The buyer is a subsidiary of Constellation Software Inc. (TSX: CSU), a market-leading Canadian software and services company labeled by The Economist as “tech’s Berkshire Hathaway.”
  • Walgreens Boots Alliance, Inc.: Advised in the divestiture of the business of operating pharmacies and health and beauty stores under the trade name Farmacias Ahumada, an essential chain of drugstores in Chile, founded in 1968 and with more than 300 stores throughout the country. The advice included assisting the client and the company in the due diligence process, as well as in the negotiation and closing of a share purchase agreement,
  • transition services agreements and other ancillary documents to the transaction.
  • Fruit export company: Advised on selling 100% of the shares owned by shareholders to a well-known global company based in California, USA, engaged in the agricultural industry, fruit export, and related services.
  • Capitalizarme.com: Advised the client, a company that develops and operates a marketplace for real estate assets, in the acquisition of 51% of the ownership of Brokers Digitales.
  • Vestuá: Advised the client, a Chilean startup that allows people to buy and sell secondhand clothes through the internet, in its share acquisition by H&M Fashion AB, one of the largest clothes companies in the fashion industry.
  • Talana (Linq SpA): Advised the client, a Chilean start-up that developed and commercializes a software for software to digitize and automate the processes related to employee management within companies, in the acquisition of 100% ownership of Key Clouding (Tescloud SpA), a Chilean company that offers software solutions to streamline and simplify the selection of talent, improving recruitment processes within companies.
  • The Bridge Social: Advised the client on negotiating and closing a share purchase agreement and other ancillary agreements to materialize the sale of 100% of its ownership to GI Group.
  • Zyght: Advised the client in the sale and transfer of the commercial operations of Zyght, including all its technology, assets, certain liabilities, and business, to the company Datamine Chile S.A., a Chilean subsidiary of Vela Software International, Inc., a well-known global company in software development, marketing, and related services.
  • Beetrack: Advised the client, a Chilean start-up that developed a SaaS (Software as a Service) for fleet management and parcel tracking for shipping and delivery companies, on the sale of their 100% ownership to DispatchTrack, LLC. and DispatchTrack Intermediate, LLC., a US group of companies dedicated to last-mile delivery and route optimization.
  • Uber - Cornershop: Advised both clients, as joint counsel, in acquiring a majority stake in Cornershop by Uber Technologies, Inc. This deal was awarded as Deal of the Year in Private M&A by Latin Lawyer 2021.
  • Odd Industries: Advised the client, a technology startup, in the sale of a majority stake to Maderas Arauco S.A., one of the largest companies in Chile.
  • Cornershop – Cencosud: Advised on a long-term Framework Agreement for Commercial Collaboration, in which the parties agreed on a strategic alliance that will allow consumers to access, through the platform developed by Cornershop, a substantial variety of products offered by Cencosud S.A. in the different countries in which it operates.
  • The Coca-Cola Company - Andina - Embonor (USA - Chile): Advised on the purchase of 100% of Comercializadora Novaverde S.A.- “Guallarauco” (USD 80 million).

Venture Capital

  • SQM S.A.: Advised on a US$3,000,000 equity investment in Altilium Metals Limited, which included a warrant to invest an additional US$9,000,000.00 by December 31, 2023, in a Series A investment round. We provided advice in the negotiation, conducting due diligence, and drafting relevant investment documentation.
  • SQM S.A.: Advised on the negotiation and review of investment documentation for an equity investment in Electric Era Technologies of US$3,000,000.00 as part of a US$13,000,000.00 Series A round led by HSBC Climate Tech Venture Capital Fund SCSp.
  • Fen Ventures III Fund LP: Advised on the negotiation and preparation of an equity investment in Human Forest, a UK-based company, as part of their £17,000,000 (US$21,300,000) Series A round.
  • Kombuchacha: Advised the client, a leading producer of beverages based in Kombucha, in a bridge financing round with Asesorías e Inversiones Kunstamnn Limitada, the investing vehicle of the owner of one of the leading beer producers in the country.
  • SQM Industrial S.A.: Advised on reviewing the Limited Partnership Agreement and preparation of a report regarding the risks of specific provisions and their adjustment to market standards for investment in The Yield Lab Latam Opportunity Fund, L.P., a private investment fund incorporated under the laws of the Cayman Islands.
  • Go Feels: Advised on the negotiation and preparation of a convertible note for investment by Fondo de Inversion Privado Parque País, a private investment fund managed by Sudamerik, for a total investment of US$300,000.
  • Pawer Chile SpA: Advised on the preparation, negotiation, and drafting of investment documentation for an aggregate investment of US$100,000 in a bridge round through convertible notes, which included several investors.
  • Fracttal: Advised on preparing and negotiating to close a US$10,000,000 Series B financing round led by Kayyak Ventures and also underwritten by GoHub and Amador Holdings.
  • VICA (Conserje Virtual SpA): Advised on negotiating and preparing the investment documents for an equity investment round of approximately US$480,000 from several investors.
  • Voltera: Advised on the preparation and negotiation of a Master Agreement and corresponding exhibits with Ameris regarding the structuring of a venture debt deal of US$50,000,000, through which Ameris would finance the acquisition of electric vehicles to be utilized in Chile through a commercial relationship with TuCar and Uber.
  • Fen Ventures II: Advised the client on negotiating and preparing the investment documentation for converting two convertible notes in Praxis Biotech LLC.
  • Devlabs - Snap Compliance: Advised both Snap Compliance and FIP Chile Outlier Seed Fund I (Devlabs) on the negotiation and closing of a convertible note for US$50,000.
  • Fen Ventures III Fund LP: Advised the client on the negotiation and review of investment documentation for an equity investment in Michroma.
  • Fen Ventures – Vita Wallet: Advised both clients on closing a financing round in the latter company for a total of US$750,000, through convertible notes, in which the corporate venture capital area of ABC Din also participated. Vita Wallet is a company that, through its virtual wallet, allows people to send payments to multiple destinations worldwide.
  • The Live Green Co.: Advised on the US$7,000,000 investment in their Pre-Series A round, a Chilean company dedicated to developing clean and vegan food formulas.

Corporate Governance

  • Cámara Nacional de Comercio:Advised the client, the most important national trade federation that brings together companies and guilds in the areas of commerce, services, and tourism throughout Chile, in the process of reviewing, updating, and modernizing its corporate governance practices through the preparation and drafting of a new proposal of bylaws.
  • Aguas Andinas and Inversiones Aguas Metropolitana (IAM): Advised on corporate governance structure, policies, and framework.
  • Chilean company in the oil industry: Advised on creating its corporate governance structure and policies. Our advice also includes an assessment of the functioning of its entire corporate governance framework.
  • Parque Arauco S.A.: Advised on creating its corporate governance structure, policies, and framework, including drafting a Corporate Governance Manual.
  • Asociación Gremial de Generadoras de Chile: Advised on evaluating the functioning of its corporate governance framework.
Languages
  • English
  • Spanish
Education
  • The University of Michigan Law School, LL.M. (Master of Laws) 2002

  • Pontificia Universidad Católica de Chile, Law Degree (J.D.), 1994

  • Law, School of Law, Pontificia Universidad Católica de Chile, 1994

Awards

Chambers Global

  • Band 3, Chile Corporate/M&A (2024)
  • Band 4, Chile Corporate/M&A (2021 – 2023)
  • Band 5, Chile Corporate/M&A (2019 – 2020)

Chambers Latin America

  • Band 3, Chile Corporate/M&A (2024 – 2025)
  • Band 4, Chile Corporate/M&A (2021 – 2023)
  • Band 1, Chile Venture Capital (2022 – 2024 – 2025)
  • Band 5, Chile Corporate/M&A (2018 – 2020)

Chambers FinTech

  • Band 1, Chile FinTech Legal (2022 – 2024)

The Legal 500 Latin America

  • Hall of Fame, Chile Corporate and M&A (2025)
  • Recommended, Chile Data Privacy (2024)
  • Hall of Fame, Chile Venture Capital (2023 – 2025)
  • Recommended, Chile Banking and Finance (2019, 2021 – 2022, 2024)
  • Recommended, Chile Capital Markets (2021 – 2022, 2024)
  • Leading Lawyer, Chile Corporate and M&A (2021 – 2024)
  • Leading Lawyer, Chile Venture Capital (2021 – 2022)
  • Recommended, Chile Corporate and M&A (including Compliance) (2017– 2019)
  • Recommended, Latin America: International Firms Corporate and M&A (2019)

Additional Recognitions
  • IFLR 1000
    • Capital Markets (2019 – 2023)
    • Private Equity (2019 – 2023)
    • M&A (2019 – 2023)
  • Best Lawyers
    • Corporate and M&A (2019 – 2022)
    • Corporate Governance and Compliance (2019 – 2021)
    • Lawyer of the Year (2022)
    • Private Equity (2020 – 2022)
    • Venture Capital (2019) – Lawyer of the Year (2020 – 2022)
  • Latin Lawyer 250
    • Corporate and M&A (2019 – 2024)
    • Highly Recommended (2021 – 2022)
    • Anticorruption investigation and compliance (2019 – 2024)
    • Banking and Finance (2019 – 2024)
    • Corporate Governance (2019 – 2020)
  • LACCA Approved (Capital Markets 2019 – 2021)
  • Leaders League (Private Equity - Startups & Innovation – Excellent 2020; Startups & Venture Capital – Excellent 2021 - Leading 2022; Banking and Finance – Recommended 2020 – 2022; Corporate and M&A - Highly Recommended 2020 – 2022; Innovation, Technology and Telecoms: Telecommunications - Highly Recommended 2021; Intellectual Property: Technology - Highly Recommended 2021, Fintech - Excellent 2022)
  • Latin Lawyer National (Corporate and M&A 2019 – 2020, Anticorruption investigations and compliance 2019 – 2020, Corporate Governance 2019 – 2020, Banking and Finance 2019 – 2020)
  • Leading Lawyers - Idealis (The "Most knowledgeable" in Corporate Governance - 2020 and "The professional who knows best" in Venture Capital 2022) 

Pro Bono

Director, Fundación Carlos Vial Espantoso

Publications

  • "Legal Alert: Chile’s Bill on personal data protection: what comes ahead?" (May 2023)
  • Market Talk: 2022, Outlook, Loans (Latin Finance Magazine - Q1 2022)
  • Co-author, "Manual sobre Derecho de Sociedades", Ediciones UC, Second Edition, (2022)
  • "Notas sobre la evolución del derecho societario en Chile," co-author with Roberto Guerrero, Ed. Marcial Pons (2019)
  • "Análisis del Primer Intento de Imponer Autorregulación sobre Gobierno Corporativo en Chile: Resultado de un oxímoron," co-author with Eduardo Walker and Maria Paz Godoy, to be published in Revista Chilena de Derecho
  • "Grupos Empresariales e Información: ¿Es un Privilegio de los Directores del Controlador?" Business Law Studies, Thomson Reuter (2018)
  • "Existe un Deber de Cuidado Particular Para Los Directores Independientes," Business Law Studies, UC Editions (2017)
  • "Principio de Confianza en la Información presentada por la Sociedad a la Luz del Deber de Cuidado de los Directores," Business Law Studies, Thomson Reuters (2014)
  • "Manual sobre Derecho de Sociedades", Ediciones UC, First Edition, co-authored with Roberto Guerrero V. (2014) 
  • "Gobierno Corporativo en Latinoamérica: Un análisis comparativo entre Brasil, Chile, Colombia y México." Research sponsored by the Instituto de Empresa, Madrid, Spain, co-authored with Josefina Consiglio (December 2013) 
  • "Interés social, Deber de Lealtad de los Directores y Conflictos de Interés en Empresas Multinacionales: Un análisis comparado con la Legislación de los Estados Unidos de América," co-authored, Chilean Law Gazette, Vol.31 N°2 (2004)

Media Mentions

  • Interviewed, "Vemos más interés de clientes locales por involucrarse fuera de Chile", Diario Financiero, October 24, 2024

Prior Experience

  • Other major Chilean firms (1993 - 2001, 2003 - 2006)
  • Davis Polk & Wardwell, New York (2002 - 2003)

Additional Information

  • Professor of Corporate and Securities Law, School of Law, Pontificia Universidad Católica de Chile (1997-present)
  • Professor of Mergers and Acquisitions in postgraduate programs, School of Law, Pontificia Universidad Católica de Chile
  • Professor of Corporate Governance in postgraduate programs, School of Law and Business School, Pontificia Universidad Católica de Chile
  • Chair, Corporate, Economic and Tax Department, School of Law, Pontificia Universidad Católica de Chile (2009-2019)
  • Executive Chaiman of the Corporate Governance Center UC, Pontificia Universidad Católica de Chile (2009 to date)
  • Visiting Scholar, Rock Center for Corporate Governance, School of Law, Stanford University (2016-2017)

Memberships And Affiliations

  • Chilean Bar Association
  • International Bar Association (“IBA”)
  • Member of the Latin American Roundtable in Corporate Governance, OECD
  • Member of the Task Force for Related Party Transactions, OECD

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