July 15, 2019 / 6:11 PM / 5 months ago

Brazil's Monashees to raise $250 million to invest in startups

SAO PAULO (Reuters) - Brazilian venture capital firm Monashees said on Monday it plans to raise $250 million to increase investments in startups in Latin America.

Founded in 2005 by Eric Acher and Fabio Igel, Monashees currently invests alongside other international funds in the delivery startups Rappi and Loggi, as well as in the mobility group Grow and the fintech Neon, among others.

Monashees previously invested in the ride-hailing firm 99, a rival of Uber Technologies whose control was acquired in January 2018 by China’s DiDi Chuxing for around $1 billion.

Reporting by Aluísio Alves; Writing by Gabriela Mello

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