Brazilian VC firm monashees wants to raise $250 million

With two unicorns in its portfolio, the company is preparing for a new fund

The Brazilian venture capital firm monashees, which already invested in unicorns like Rappi and Loggi, is preparing to fundraise about $ 250 million to expand investments in startups.

Created in 2005 by Eric Acher and Fabio Igel, the VC firm has already raised funds for  88 companies in Latin America, such as the on-demand mobility app Grow (former Yellow and Grin), the fintech Neon, and the big data analytics firm Neoway. Currently, monashees has 60 companies in its portfolio, 42 of which are Brazilian.

According to Estadão, the VC firm is on its 9th fund and is now presenting this new venture for previous shareholders, expecting to raise at least $250 million both national and internationally. Previously, in November, monashees had already raised $150 million among Brazilian entrepreneurs, like Instagram founder Mike Krieger, one of the most influential Brazilian names in Silicon Valley.

Just as the two Latin American unicorns, monashees invests in businesses committed to creating innovative solutions and has in its portfolio a range of fintechs, edtechs, AI and machine learning companies, in addition to logistics, SaaS and real estate players. The firm is known for raising capital during the initial stages, from seed to series A and B rounds. Raising growth-stage capital in Latin America is not yet as usual as it is in Silicon Valley, but as the market evolves and the surge of startups grows, investment will follow.

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