Search Fund Asset Class in Brazil
The search fund concept is still new to the Brazilian market. An overview of the funds operating in the country and where the asset class is heading.
The concept of a Search Fund is rather new in the Brazilian market. Apart from Rising Venture we could identify another five Search Funds operating in the country, all of them either in the search or in the deal phase. Find an overview of four funds we could gather some information about below:
| Fund | Type | Start-Date | Stage | Team |
|---|---|---|---|---|
| Taqia Capital | Traditional | January 2015 | Deal-Phase | One |
| Maissa Capital | Traditional | August 2015 | Search-Phase | One |
| Colibri Investimentos | Traditional | March 2016 | Deal-Phase | One |
| Sektra Capital | Self-Funded | January 2016 | Search-Phase | One |
| 220 Capital | Traditional | November 2016 | Search-Phase | Two |
| Rising Venture | Self-Funded | April 2016 | Fundraising & Search-Phase | One |
To our knowledge there have also been Search Funds during the 90’s as well as in the early 2000’s, some of them also with successful acquisitions and exits. However, most of these funds did not follow the “traditional” Search Fund model but were rather self-funded or funded by a single investor.
Since the asset class is not very common in Brazil, the existing Search Funds listed above are all mainly backed by US investors or they are non-traditional.