Redpoint E.Ventures, the Brazil-based venture firm backed by e.Ventures, a corporate-backed venture firm, and venture firm Redpoint Ventures, has raised $130m.
Founding partners Yann de Vries, ex-Cisco corporate development, and Anderson Thees, formerly chief executive of Brazil-based search engine Apontador, are managing the fund, which has invested in portfolio companies Viajanet, Grupo Xango, 55Social, Shoes4you and Sophie & Juliete.
Cisco said it had committed $15m to the fund, Redpoint E.Ventures Brazil.
Redpoint and E.Ventures started investing in the region independently in 2009, before partnering earlier this year.
De Vries, co-founder of Redpoint E.Ventures, said: “Brazil is one of the most promising emerging markets for the global technology industry. This is why we’re making the long-term commitment to the country’s entrepreneurs with a significant and focused local fund. Our unique platform will serve to build bridges with Silicon Valley and other key markets such as Europe and China who are all seeking new growth opportunities in Brazil.”
Romero Rodrigues, chief executive of Buscape, part of South Africa-based media company Naspers, said: “For the first time in Brazil we have an international top-tier VC bringing the combination of true local presence, a large dedicated fund and local expertise, networks and resources. Without a doubt, Brazilian entrepreneurs and the local startup ecosystem will benefit greatly from the level of focus and support Redpoint E.Ventures provides.”
Redpoint E.Ventures will invest at the seed, series A and series B stages in the consumer internet, mobile, media and cloud services sectors.