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Cisco backs Brazilian VC Monashees Capital with $6m commitment

13 Dec 2012

Global IT group Cisco has committed $6m to Brazilian venture capital firm Monashees Capital.

The Sao Paulo-based firm focuses on internet and online education sectors.

It typically looks to invest in round ranges from R$500k to R$5m in Seed or Series A, with additional funds reserved for follow-on rounds.

Last April, Cisco announced the investment of over R$1bn ($482m) during the next four years in Brazil.

Cisco said the investment in high-technology venture capital funds was aimed at fostering the development of new Brazilian technology companies and entrepreneurship in the country.

Monashees represents the second of these investments, after the first investment of $15m in Redpoint e.ventures announced on July.

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