Redpoint Ventures and e.ventures (formerly BV Capital) jointly formed and announced a $130 million fund dedicated to Brazilian early-stage consumer Internet, mobile, media and cloud services startups.
The independent and São Paulo-based Redpoint e.ventures fund is managed by founding partners Yann de Vries and Anderson Thees will manage. It launches with five active investments: Viajanet, Grupo Xango, 55Social, Shoes4you and Sophie & Juliete.
The concept is to offer local, hands-on support, combined with access to the experience and world-wide opportunities of portfolio companies like Groupon, Netflix, Angie’s List and HomeAway.
“Brazil is one of the most promising emerging markets for the global technology industry,” said de Vries. “This is why we’re making the long-term commitment to the country’s entrepreneurs with a significant and focused local fund.”
Related links:
Redpoint e.ventures – press release
Redpoint e.ventures – http://www.rpev.com.br
Redpoint Ventures – http://www.redpoint.com
e.ventures – http://www.eventures.vc
New York Times – Venture Capital Firm Makes Long-Term Bet on Brazil
Bloomberg – Venture Capital Firms Jump Into Brazil After Years of Testing Water
Forbes – Redpoint E.Ventures Raises $130 Million Brazil VC Fund
TechCrunch – Redpoint e.ventures Closes On $130M For Brazil-Focused VC Fund
Photo by Flickr user markhillary, used under Creative Commons license
