Rio Bravo CEO Leads an Investment in Israel-Based Venture Fund
The Rio Bravo Investimentos CEO is leading a group of Brazilian businessmen to invest in a fund raised by venture capital firm Maverick Ventures
10:1213.09.17
A group of 25 Brazilian businessmen led by Rio Bravo Investimentos S.A. CEO Mario Fleck committed to invest around $10 million in a new fund by capital firm Maverick Ventures Israel, Maverick managing partner Michel Abadi and Mr. Fleck said in interviews with Calcalist Tuesday.
The Brazilian group visting Maverick Ventures' Tel Aviv offices
קראו עוד בכלכליסט:
- Glispa Buys Online Advertising Startup JustAd
- Marine Data Company Reads Geopolitical Wind Changes
- South Africa’s Largest Bank Backs Invoice Scanning Startup
Sao Paulo-based asset management firm Rio Bravo Investimentos has $3 billion under management. In 2016, China's Fosun International Ltd. bought 51% of the company making Rio Bravo the conglomerate’s first acquisition in Latin America. The deal was finalized in October 2016, said Mr. Fleck.
The Brazilian group visting Maverick Ventures' Tel Aviv offices
Israel-based technology startups can benefit from operating in Brazil, Mr. Fleck said. “Brazil is a very large market with slow technological development, while Israel is the reverse,” he said.
Tel Aviv based Maverick Ventures, founded in 2013, invests in Israel-based startups already generating revenues. The firm raised a $40 million investment fund in 2013. The firm’s portfolio includes Puls, an on-demand gadget repair startup backed by Samsung and by Singapore's governmental holding company Temasek.
