News

Singapore invests in Brazilian VC fund

Rio_de_JaneiroTemasek Holdings, Singapore’s state-owned investment company, has invested in a $150 million (€133 million) fund that will invest in technology firms in Latin America. The fund was raised by monashees, Brazil’s biggest venture capital (VC) firm. The Singaporean investor joined Brandywine Trust Group, S-Cubed Capital, CreditEase, IDG, Mike Krieger, Horsley Bridge Partners, the University of Minnesota, and 15 high-net-worth Brazilian families and groups in backing Monashees VIII. The company said it will continue looking to invest in those who are “capitalising on global trends and using technology to solve important problems and address large market opportunities in Latin America”. At present, monashees has a total of $430 million in assets under management (AuM) and has invested in more than 55 companies. “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,” said Eric Archer, monashees managing partner and co-founder. ©2018 funds global asia

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