Brazil Attracting More Venture Capital

Brazil has been on the radar of venture capital for several years.  Firms including Accel and Benchmark have invested in Brazil technology companies; Atomico has opened an office there and Sequoia is rumored to be in the process of opening an office there as well.   Redpoint e.ventures, a joint venture between Redpoint Ventures and e.ventures, has announced that it has close on  have raised a $130 million fund to focus on early-stage Brazilian technology companies.

Why Brazil?

• 6th largest global economy
• Largest and most populous country in South America
• Rapidly growing middle class
• Rising entrepreneurial activity
• High internet adoption and engagement

Articles:
"Venture Capital Firms Jump Into Brazil After Years of Testing Water":  Bloomberg
http://go.bloomberg.com/tech-deals/2012-07-23-venture-capital-firms-jump-into-brazil-after-years-of-testing-water/ 

"Sequoia Capital Said to Be Expanding to Brazil:  NY Times DealBook  
http://dealbook.nytimes.com/2012/05/23/sequoia-capital-said-to-be-expanding-to-brazil/ 

Redpoint e.ventures press release:  
http://redpoint.com/files/news/rpev_pr__july_20_final.pdf
 
Prior posts on Brazil:
http://www.allenlatta.com/1/post/2012/03/redpoint-eventures-new-brazil-venture-firm.html

http://www.allenlatta.com/1/post/2012/02/atomicos-brazil-foray-ny-times-dealbook.html 

http://www.allenlatta.com/1/post/2012/02/entrepreneurship-in-brazil.html 

http://www.allenlatta.com/1/post/2011/11/jim-breyer-interview-on-techcrunch.html