The FINANCIAL -- Cisco announced
the investment of USD 6 million in the venture capital fund
Monashees Capital, the leading Brazilian VC focused on Internet
companies and online education.
The locally managed and operated fund is based in Sao Paulo, Brazil.
Monashees Capital is a venture capital firm focusing on early stage Internet start-ups and education, with a long-term business model tailored to the Brazilian environment. As Cisco announced, the fund partners with outstanding entrepreneurs determined to build innovative high-growth businesses.
Last April 1, Cisco announced the investment of over R$1 billion during the next four years in Brazil. As part of this announcement, Cisco announced the investment in high-technology venture capital funds to foster the development of new Brazilian technology companies and entrepreneurship in the country. Monashees represent the second of these investments, after the first investment of USD 15 million in Redpoint eventures announced on July 24.
Innovation in information and communications technologies represents a significant market and an important economic driver for Brazil. Recognizing this potential, Cisco's intention is to accelerate the introduction of new technologies and provide a competitive advantage through early investments in burgeoning technology innovations, supporting the development of high-growth small and medium-sized companies in the technology, digital media and telecommunications sectors.