Rising From the Ashes
Dec 8, 2003
Money is moving into Latin American technology
ventures in Brazil. But entrepreneurs and their backers still face
Unbelievable as it may seem, more than a few investors are
willing to bet cold, hard cash on Latin American software
companies. Many entrepreneurs and their backers were mangled when
the Internet boom ended three years ago, so money no longer flows
like water. Nowadays, its back to basics, says Jonathan Whittle,
principal at Darby Technology Ventures Group (DTV), part of private
firm Darby Overseas International. We require companies that have
real products, that have real clients and have real revenues.
Deals Every Month
Specialized technology funds such as Darby, Intel Capital,
Brazils GP Tecnologia and MiFactory - a venture capital fund
backed by Ericsson, Saab and Grupo Said of Chile - are
announcing investments almost every month, even if the amounts
involved are relatively small. Latin America simply cannot compare
with the inventions, hardware and software cascading out of Asia.
India alone gets hard currency revenues of close to $10 billion a
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