The independent venture arm of Brazilian media major RBS Group has launched a $100m early-stage fund.
e.Bricks Digital said it also planned to expand its US presence following the formation of the new vehicle, which will aim to make 12 to 15 investments each year in the digital media and technology, e-commerce and mobile industries.
The firm said it would target companies with annual pre-revenue turnover of $10m and a scalable business model which it believes have strong market potential.
Its current portfolio already includes Predicta, Wine.com.br, Grupo Mobi and Hi-Media.
RBS Group established e.Bricks last October through the spin-off of its digital business unit.
The media business has interests in TV, radio and newspapers and is one of the largest media business groups in Brazil.
RBS Group CEO Sirotsky Melzer said, “It is essential that every company has strong entrepreneurs with the ability to execute plans for growth.
“We created e.Bricks Digital specifically to look for companies in solid markets and have the business models to build efficiencies in the value chain in addition to being open to business models with co-investors.”
Brazil’s fundamentals remain solid and continue to prove attractive to investors who understand the region’s opportunities according to Clovis Meurer, chairman of industry association Associação Brasileira de Private Equity & Venture Capital (ABVCAP).
Meurer said last month that opportunities remained despite the country’s growth trajectory levelling off in the past two year, with an influx of overseas buyout investors fuelling fears of overheating.
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