E.Bricks Digital, the venture capital investor spun out of the Brazilian media conglomerate Grupo RBS, has raised $100m for a new early stage fund to invest in mobile, e-commerce and digital media.
The firm has also created a US presence and aims to search for North American businesses with expansion potential in Latin America. The fund aims to make 12 to 15 investments per year and it will back companies with annual pre-revenue turnover of $10m. Its current early stage investment portfolio includes online wine marketplace wine.com.br and mobile marketing platform grupo.mobi.
“It is essential that every company has strong entrepreneurs with the ability to execute plans for growth. We created e.Bricks Digital specifically to look for companies in solid markets and have the business models to build efficiencies in the value chain in addition to being open to business models with co-investors,” Eduardo Sirotsky Melzer, CEO of RBS Group, said in a press release.