Rising From the Ashes
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
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 year...
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