Redpoint e.ventures Closes On $130M For Brazil-Focused VC Fund

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Redpoint e.ventures, the venture capital fund pioneered by Silicon Valley VC firms Redpoint Ventures and e.ventures (the latter of which, e.ventures, was previously known as BV Capital), has raised $130 million for its first dedicated venture fund.

Redpoint e.ventures’ founding partners Yann de Vries and Anderson Thees will manage the fund together. According to the firm, this new raise makes Redpoint e.ventures the largest early-stage venture capital fund in Brazil.

I recently sat down with Redpoint founding partner Jeff Brody and e.ventures co-founder and managing partner Mathias Schilling to talk about their firms’ collective interest in South American startups. This latest fund was closed within four months, they said, showing that limited partner investor interest in Brazil is quite strong at the moment. They also said that their firms’ joint venture will continue to invest in startups focused on Internet, mobile, and the cloud.

The startup ecosystem in Brazil is really starting to boom right now, they said — but it’s in the early enough days for Redpoint e.ventures to see the potential for a huge upside, and also to help show some entrepreneurs for the first time how people do things in Silicon Valley. Brody said:

“There is a bit of an educational process. As Silicon Valley veterans we forget that everybody doesn’t read TechCrunch, everybody doesn’t necessarily know how early-stage technology businesses are built and structured here in Silicon Valley… In many ways in Brazil, we have the opportunity to really be part of the formation of something from the very beginning.”

It will certainly be exciting to see how Brazil’s startup scene plays out, both for Redpoint e.ventures and the larger tech industry. We’ve already seen a number of very compelling startups to come out of the country, and it seems that this is just the beginning of the boom.