Monashees seeks $700 million to invest in LatAm startups

Brazil's VC fund monashees plans to raise two funds focused only on newly launched startups

Illustration by Felipe Mayerle
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  • This newest fundraising by monashees comes amid a boom in tech sector deals in Latin America;
  • monashees has Rappi, Loggi, and Neon in its portfolio.

Venture capital manager monashees is raising $700 million from two new funds to invest primarily in startups in Latin America, two sources familiar with the matter said.

Monashees plans to raise a fund focused only on newly launched startups, its tenth vehicle for this type of company, and another to invest in startups in more advanced stages of development, the second such fund, with $350 million each, the sources added.

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This newest fundraising by the monashees comes amid a boom in tech sector deals in Latin America, including giant funds launched by investors such as SoftBank and several companies preparing to list their shares, such as fintech Nubank.

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One of the pioneers in the venture capital industry in Brazil, monashees was founded in 2005 by Eric Acher and Fabio Igel. Its portfolio companies include Colombian delivery app Rappi and, in Brazil, proptech Loft, logistics company Loggi, neobank Neon, and online home products platform MadeiraMadeira.

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