Atomico Announces First Investments In Brazil
SÃO PAULO, BRAZIL — February 24, 2011- Atomico, the international venture capital firm founded by Niklas Zennström, also known as a co-founder Skype, today announced its first two investments in Brazil, following recent investments in other Latin American countries.
It has invested US$8.7m in Connect Parts, the leading online retailer of motorcar parts that recently changed its name from Dakota Parts, and US$2.9m in Bebê Store, the online retailer selling products for young children and mothers.
Atomico invests in technology companies around the world, mostly in the internet area, and has made more than 50 investments on four continents. It looks for companies that have remarkable growth prospects and outstanding management teams. The firm is headquartered in London, but has teams in São Paulo and Beijing.
Niklas Zennström, CEO and Founding Partner of Atomico, said: “We’re delighted to be making investments in Brazil. It has a fast-growing online economy, and is home to some brilliant entrepreneurs.
“After much searching and evaluation, we have invested in two brilliant companies that have the attributes we look for: track records that reflect real success as businesses, outstanding management teams, and remarkable potential ahead.”
Connect Parts/Dakota Parts is Brazil’s leading online auto part retailer. It was founded in 2006 by Paulo Biancalana, and is determined to maintain its mission of being the best and most comprehensive retailer of auto parts and accessories.
Bebê Store was founded by Leonardo Gomide Simão in 2009. It sells more than 16,000 products over the internet, including clothing, toys, skincare products and maternity wear. It has about 1 million unique visitors per month.
Atomico’s São Paulo team is responsible for the whole of Latin America, finding investment opportunities and helping the international portfolio companies that Atomico invests in do business there. It currently has two members: Haroldo Korte who works for the firm’s Investment Team helping to achieve successful investments, and Carlos Pires who works for the firm’s Expansion Team that helps the companies backed by Atomico grow organically and via international partnerships.
The firm has previously invested in companies in Latin America that operate in Brazil, but are headquartered in other countries. Pedidos Ya, headquartered in Uruguay, allows people to order food delivery online from restaurants in their local area in countries including Brazil.
Restorando, headquartered in Argentina, is a restaurant reservations site that allows restaurants to take bookings online 24 hours a day, as well as giving them valuable marketing tools. And Cinemaki, also headquartered in Argentina, is a social network for recommending movies across seven Latin American countries. Both it and Restorando operate in Brazil among other countries.