Paul Capital, a global private equity firm dedicated to secondary market transactions, has acquired 18.2% of the Ideiasnet FIP 1 fund. One of two funds managed by Ideaisnet, FIP 1 invests in companies in the areas of digital media, e-commerce, mobile and software.
The deal values the FIP 1 at US$217 million (R$435 million), and Paul Capital has the option to acquire up to 25% of the fund. Paul Capital paid US$40 million (R$79) for its shares, the funds for which will be used for new investments in fast-growing technology-based companies and to finance Padtec, a company already in the Ideiasnet portfolio.
Paul Capital will now hold shares in six Ideiasnet FIP 1 companies: Padtec, Officer, EAX, Batanga, Tectotal and Pini. The deal will be closed by March 15th.
“We have followed the development of Ideiasnet and its portfolio since 2009, and we strongly believe in the capacity of its managers to capture significant additional value for its existing portfolio over the next three to four years,” commented Brian Sullivan, Partner at Paul Capital in New York.
Ideiasnet has significantly increased its role as a major player in Brazilian venture capital as of late. Named by the Latin Business Chronicle as one of Latin America’s top 50 technology companies of 2012, it recently sold Bolsa de Mulher to Miami-based Batanga Media. And through IdeiasVentures, its other investment fund, Ideiasnet has invested in businesses such as Amo Muito and Spring Wireless.