A $200 Million Bet on Brazilian Tech Start-Ups Amid Political Upheaval -
By VINOD SREEHARSHAMAY 30, 2017
RIO DE JANEIRO — The Latin American venture capital firm Kaszek Ventures has raised a $200 million fund, its
largest, a major vote of confidence for internet start-ups in Brazil amid the political upheaval there.
Sequoia Heritage, whose funds include money from Sequoia Capital’s partners
and outside investors, largely Sequoia entrepreneurs, increased its investment in the new fund compared with the second fund, according to Keith Johnson, Sequoia Heritage’s chief investment officer.
“We believe that Brazil will still be the largest recipient of our capital
and where we invest the most,” Nicolás Szekasy, one of the firm’s two founding partners, said in a recent interview.
American investors in the new fund include Sequoia Heritage, the fund of funds linked with the
Silicon Valley stalwart Sequoia Capital, and the Dietrich Foundation, based in Pittsburgh.
The asset manager Hall Capital Partners, which backed Kaszek’s Fund II, also increased its contribution in absolute
dollars in the new fund, according to Laura Andron, a principal at the firm, which is based in San Francisco
