PeixeUrbano Enters Partnership with General Atlantic

Wireless News
05-11-2011
PeixeUrbano Enters Partnership with General Atlantic
Type: News

PeixeUrbano, a collective buying Web site in Brazil, announced a partnership with a global growth equity investment firm General Atlantic, in an investment round that also included participation from Tiger Global Management.

According to a release, the investment aims to further accelerate PeixeUrbano's growth by providing financial and strategic resources for recruiting, new marketing campaigns and geographical expansion.
"The new capital together with GA's active approach, experience in our segment, and expertise in working with growth companies will allow us to strengthen our company's infrastructure and fuel our expansion not just in Brazil and Argentina, but also to other Latin American countries," said Julio Vasconcellos, founding partner and CEO of PeixeUrbano.

Officials noted that General Atlantic has invested nearly US$750 million in Latin America with current investments in online consumer marketplace MercadoLibre and BM&F Bovespa. The firm's recent investments in its Internet sector include Privalia in Europe; Alibaba, RenRen and SouFun in China; and Dice, AKQA, Network Solutions and Gilt Groupe in the US. GA invests annually in the US$2 billion range across six sectors globally, with an average investment size of over US$200 million in 2010.

During the fourth quarter of 2010, PeixeUrbano received investment capital from two other companies: Monashees Capital, one of the main venture capital firms in Brazil, and Benchmark Capital, a Silicon Valley venture capital firm that invests in companies such as eBay and Twitter and made its first investment in Latin America through PeixeUrbano.

Tiger Global Management is a privately owned investment manager.

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