Tuesday, July 24, 2012

Who's Investing in Brazil - Updating the List

Dear reader - it's been too long since I have posted on the growing and exciting community of Brazilian startups and venture capital.  To make it up to you, I've substantially updated the list of the VC firms that are active in Brazil.

It almost seems that venture capital firms are sprouting as fast as startups so it's a rapidly evolving list - please forgive me (or hit the comments) if I've forgotten anyone.

Foreign-based firms


Accel Ventures - among the top US investors by some rankings, the team led by Kevin Efrusy (of Facebook investment fame) has made investments in Elo7 and Kekanto

Atomico - one of the few traditional foreign VCs that has established an office in Brazil.  Founded by Skype co-founder Niklas Zennström, the firm made its first Brazilian investment in Restorando in February.

Benchmark - investors in PeixeUrbano

Bessemer Ventures - The world's oldest venture capital firm recently brought on Brian Feinstein to lead the firms efforts in Brazil

Felicis Ventures - Silicon Valley based fund with just over $100mm AUM.  Invested in baby.com.br

Flybridge Capital - A new entrant on the Brazilian scene, Flybridge recently invested in MadeiraMadeira, an online construction products company

General Catalyst - Boston-based VC that has invested in Viajanet and gaming company Vostu

Index Ventures - London based fund.  Invested in Grupo Xango and Privalia (Spanish but largest market is Brazil)

Initial Capital - early stage investor, writing checks between $US 100-300k.  Based in Israel, Daniel Carneiro leads the firm's Brazil's efforts.  Brazilian investments include Glambox.

Insight Venture Partners - Large Silicon Valley based firm - investments include Elo7Kabum! and HotelUrbano

Intel Capital - the VC arm of the American chip giant is headed by David Thomas.  They have been active in recent months investing in (among others) two healthcare startups (Minha Vida & Pixeon) and two fashion startups (Fashion.me & Coquelux)

Lakestar - I blogged about them here.  They are an incubator/VC which has invested in Gourmeo.com.br (among others) and have an office in Sao Paulo

Sequoia Capital - Rumored to be opening an office in Brazil headed by David Velez

Social+Capital Partnership - Silicon Valley based fund created by Ex-Facebook VP, Chamath Palihapitiya  - invested in Baby.com.br 

Tiger Global - one of the most active foreign investors in Brazil.  At my last count they have over 10 investments (most not disclosed).  Disclosed investments include: baby.com.br, netshoes.com.br and Netmovies

Thrive Capital - NYC-based firm headed by Josh Kushner.  Recent investments include Baby.com.br

Venrock - investors in medical products company, Advance Medical

Brazil-based firms


Astella Investimentos - Relatively longstanding Brazilian fund which has several investments in the internet backend, education and healthcare space.

Arpex Capital - Backed by some of Brazil's wealthiest individuals, Arpex doesn't disclose its investments.  However, one of their partners, Ted Rogers, writes an interesting blog here.  

DGF Investimentos - DGF is a private equity and growth fund that has been in the market since 2001.  Patrick Arippol was brought on a few years ago to lead their early stage investing platform.  They have not announced many early-stage investment recently but you can view their portfolio here.   

DLM Invista - DLM is a newly raised venture fund focused on B2B software.  Founded by former senior executives at Datasul (an ERP software company which merged with Totvs), the firm has invested in Chaordic and Sofit.

Ideiasnet - Ideiasnet is one of the oldest VC investors in Brazil. They are unique because they are a publicly traded conglomerate that makes investments in startups.  They have made news recently by selling stakes in a number portfolio companies, including Spring Wireless and Softcorp.  In addition, they recently sold a 5.1% stake of themselves to Liberty Media, the American media conglomerate.  Their investments include Bolsa de Mulher and MoIP.

Kaszek Ventures - Despite its lack of a website, Kaszek is also one of the most active investors in Brazil and Latin America.  It was founded by Hernan Kazah and Nicolas Szekasy, co-founder and early executive of MercadoLibre, respectively.  They are based in Buenos Aires but spend much of their time (and money) in Brazil.  Their investments include Viva Real, GetNinjas and Kekanto.  

Monashees -  Almost certainly the most well-known Brazilian VC, the firm was co-founded by former General Atlantic Latin America head, Eric Acher. Their investments include oLook (headed by an American/Brazilian team of Peter Ostroske and Andre Beisert) and several companies I have written about on this blog, including Oppa and Baby.  Here's their full portfolio

Redpoint eVentures - a joint Brazil-focused $130mm fund between BV Capital and Redpoint Ventures, two large US/European VC funds.  They have a dedicated team in Brazil headed by Yann de Vries and Anderson Thees.  Their investments include Shoes 4 You and Viajanet.  They have a slick new website that's worth checking out as well.

Warehouse Investimentos - I recently visited their offices in Sao Paulo - it's an impressively converted (and very cool) former warehouse that could be an archetype for "industrial chic."  Their announced investments include food delivery service, ifood and two sustainability focused startups.  


86 comments:

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