Dealflow | October 20, 2021

Brazil’s Monashees targets $700 million for early- and growth-stage impact

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, October 20 — São Paulo Monashees is looking to raise two $350 million funds to invest in Latin American tech companies addressing social issues. One will invest in newly launched startups; the other in later-stage investments.

The impact-focused venture capital firm’s portfolio companies include Weel, a fintech that provides cashflow loans to Brazilian small businesses; Frubana, which runs an online farmers’ market that links Colombian small farmers to restaurants; and Mandaê, a parcel shipping company for Brazilian small and mid-sized ecommerce businesses.

Mandaê has just been acquired by Nuvemshop, a Latin American e-commerce platform for small businesses.

LatAm venture boom

Startups in Latin America have raised nearly $15 billion so far in 2021, according toCB Insights. The region saw $5.4 billion in VC funding for the entire year of 2020.

The substantial increase in venture funding is led by large financing rounds from Nuvemshop, NotCo and others. During the third quarter of 2021, Monashees led Latin American-based venture investors with 17 deals.