Redpoint Closes US$130 Million VC Fund for Brazil


Redpoint announced the closing of US$130 million for its dedicated Brazilian venture capital fund. The capital will be used for investments in fast-growing early stage startups in Brazil, the VC being the largest of its kind in the country to date.

The first Silicon Valley fund dedicated to Brazil, Redpoint is a joint initiative of Redpoint Ventures (which made an important investment in OpenEnglish earlier this year) and (formally known as BV Capital). The two began operating and investing in Brazil separately in 2009 and joined forces this year.

The VC fund was founded and is directed by Yann de Vries and Anderson Thees, both of whom have a significant background in business, startups and finance, with Thees having worked at Buscapé previously and de Vries with Cisco Systems.

Redpoint will concentrate its investments on consumer internet, mobile, media and cloud technologies. Special attention will also be paid to the country’s powerful e-commerce industry. Thus far, the fund has made investments in five Brazilian enterprises: Viajanet, Grupo Xango, 55Social, Shoes4you and Sophie & Juliete.

As Brazil becomes increasingly attractive to investors and entrepreneurs, other VCs are likely to pop up and follow suit. They will surely play an important role in the development of the country’s technology startup ecosystem and aid numerous enterprises in maneuvering Brazil’s appealing yet challenging marketplace.

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Emily Stewart

Originally from the United States. Degree in Comparative Literature & Society from Columbia University. Background in marketing and communications, including copywriting, translation, editing and content creation. Localization experience. Twitter @doblackshoe