Redpoint and eVentures, two Silicon Valley venture capital firms, announced today they are joining forces to build a Venture Capital Firm in Brazil.
With more than $3B under management and experience as early stage investors in Internet market leaders including Groupon, Angie’s List, HomeAway, Responsys, Netflix and many others, their joint venture will bring Silicon Valley best practices to Latin American technology entrepreneurs.
Headquartered in Sao Paulo, Brazil, Redpoint eVentures will be led by founding partners Yann de Vries and Anderson Thees.
The firm will support promising start-ups by sharing international best practices as well as providing access to financing, talent and strategic partnerships.
Co-founder of Redpoint, Jeff Brody, is convinced that having an established local presence is critical to long-term success, explaining, “We’ve learned in China that to be truly effective finding opportunities and supporting entrepreneurs, one needs to be established on the ground, rather than flying back and forth every couple of weeks – focus and access are critical to success. Now that we have assembled a great local team in Sao Paulo, we are ready to continue our efforts to scale across the region.”