Monashees New $700 Million Funds to Latin America

Brazilian venture capital firm Monashees is raising $700 million in two new funds to invest mainly in startups in Latin America.

Brazilian venture capital firm Monashees is raising $700 million in two new funds to invest mainly in startups in Latin America. The Brazilian unicorn seeker is broadening its strategy into finding new opportunities in tech-based Latin American companies.

Monashees’ new fundraising is timely, as there has been a frenzy of investments into Latin America’s tech sector as explained in detail by Latin America’s legal specialist Foley and Lardner LLP partner, André Thiollier in a Thompson Reuters Westlaw publication this Fall.

In 2020, $4,1 billion of venture capital were invested in the continent, exceeding the $3,3 billion deployed in Southeast Asia and the combined capital invested in Africa, the Middle East and Central Europe, according to the Global Private Capital Association.

A pioneer in the sector region, Monashees was founded in 2005 by Eric Acher and Fabio Igel. Its portfolio of companies include Colombia’s delivery app Rappi, and Brazil’s proptech Loft, logistic company Loggi, fintech Neon, and online home goods platform MadeiraMadeira.