Brazil-based venture capital firm Monashees closed its eighth fund yesterday, raising a total of $150m from limited partners including online lending platform CreditEase.
Monashees VII’s LPs also included Singaporean state-owned investment firm Temasek, Brandywine Trust Group, S-Cubed Capital, IDG Capital, Horsley Bridge Partners, University of Minnesota, private investor Mike Krieger and 15 high-net-worth Brazilian groups and families.
Founded in 2005, Monashees invests in early-stage companies based in Latin America, targeting sectors such as healthcare, financial services, transportation and logistics. The close of its latest fund brings the total money raised by the firm to $430m.
The firm’s existing investors include same-day delivery service Loggi, on-demand e-commerce platform Rappi and 99, the ride hailing platform in which Didi Chuxing invested $600m in January this year to take a majority stake.
Fabio Igel, co-founder of Monashees and one of its partners, said: “We are thrilled by the close of Monashees VIII and appreciative of the confidence and support of our local and global investors and founder partners.”
Fellow co-founder and managing partner of Monashees Eric Acher added: “With the market opportunity stronger than ever, we are eager to continue supporting bold founders as they build the companies that will drive the future of the region.”
