- With the closing, Igah now has an amount of nearly BRL 1.5 billion in funds under management;
- The union of the e.bricks and Joá Investimentos managers gave rise to Igah in 2020.
Igah Ventures, a Brazilian investment manager, concluded in January the allocation of its third fund, in the total amount of BRL 750 million. The manager is already allocating resources through investments in portfolio investments such as bxblue, Conexa, Avenue, Acesso Digital, Dr. Jones, and 321 Beauty.
According to Igah Ventures, the result demonstrates investors’ appetite for the venture capital asset class as a strategic business focus. With the closing, Igah now has an amount of approximately BRL 1.5 billion in funds under management, with 56 investments, 13 outflows, and 3 funds.
“This fundraising reflects a well-structured strategy by Igah to work with qualified investors to leverage innovative businesses, which have technology as the basis to address solutions in the face of inefficiencies in our market”, highlights Pedro Sirotsky Melzer, one of the founding partners of Igah Ventures, alongside Márcio Trigueiro and Luís Felipe Magon.
The closing of fund 3 ends a cycle of heavy investments, since the first fundraising of BRL 100 million, in 2014, and the subsequent one, of BRL 200 million, in 2019 – both before the union of e.bricks and Joá Investimentos, managers that gave rise to Igah in 2020.
Even with the pandemic, which brought concern and a contraction in investments at first, there was an acceleration of investments and an increase in the visibility of venture capital assets as a strategic business opportunity for institutional investors, funds, and family offices. According to Igah, two more contributions are still on its radar in the first quarter and 17 until the end of 2022.
In Melzer’s assessment, the Brazilian venture capital market is more mature now. “It is an investment alternative with a clear long-term return, which has investors increasingly willing to sign robust checks when they identify opportunities that address effective solutions in their segments,” he said in a press statement.