29 May 2013

Promising Path for Start-Ups in Brazil

Investors and entrepreneurs say that economic conditions in Brazil are difficult, but that long-term prospects remain highly favorable.

Despite Stumbles, a Promising Path for Start-Ups in Brazil - NYTimes.com: "“Silicon Valley’s expectations were higher than they should have been in terms of the reality of the opportunity down there,” said Jeff Brody, a founding partner of Redpoint Ventures. Yet he expects to maintain the same pace of investing this year, citing improved deal-flow and noting that “one of the things we have learned is that you need to invest steadily through the cycles.” Together with San Francisco-based e.ventures, the firm raised a $130 million fund Last year run out of São Paulo. Even those critical of the sector are not yet replacing Brazil with other markets. At the Founders Forum, an annual gathering here in March, few investors spoke of shifting their investments to other Latin American markets like Mexico, Latin America’s second-largest economy after Brazil. “People realize that Mexico is less developed in the Internet space and that raising follow-on capital is even harder,” said Jose Marin, a partner at the IG Expansion investment firm in Madrid and a host of the Founders Forum meeting." more at link above

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