Wednesday, July 25, 2012

Cisco Backs Redpoint e.ventures Brazil

San Jose-based networking equipment maker Cisco said today that it has backed the new, Redpoint e.Ventures Brazil venture capital fund, with $15M in investment. Redpoint e.ventures Brazil is a new venture capital fund, worth $130M, that was announced yesterday by Redpoint Ventures and e.ventures, to invest in early stage Brazilian companies. Cisco said that Brazil is a "key market" for the company, and earlier this year said it plans to invest R$1 billion into the country over the next four years.