Beruflich Dokumente
Kultur Dokumente
+ Founded in 2005
+ US$ 135 M in capital
commitments
+ 7 partners
+ 27 companies
+ Target sectors include Mobile,
Marketplaces, e-Commerce,
SaaS, EdTech, FinTech,
Healthcare
+ Focus on leading Seed & Series A
rounds, reserving capital for
Series Bs
+ Co-invested with Accel,
Benchmark, Felicis, Insight,
Meritech, Tiger, Valar, 500
Startups, Flybridge, Valiant,
Funded startups
First wave
2000
The Burst
Boom
Nuclear Winter
2005
2009
Correction
2012
2013
You are
here
International
investors
New local
accelerat
ors
New local
investors
MARKETS
TEAMS
LIQUIDITY
Consumption power
15.0
Upper
class
Middle
class
Lower
class
7.3
5.9
3.6
13%
38%
49%
For the
first time,
emerging
middle
52%
class that
can afford
to buy
tech
27%
products
& services
21%
B2B: + 5M companies
On average they invest
5.5% of revenues in IT
Sources: FGV, World Bank, Business Monitor International, Brazil Central Bank, Monashees
Leadership in
13.0%
relevant
21.0%
markets
2nd
38%
Largest
Largest
beauty
beauty
market
market
th
Largest
Largest
clothing
clothing
market
market
3rd
52%
4th
49.0%
Largest
Largest
automotive
automotive
market
market
27.0%
2nd
Largest
Largest pet
pet
supplies
supplies
market
market
Largest
Largest
computer
computer
market
market
E-commerce
78%
88.5M
46%
internet
internet
users
users in
in
Brazil
Brazil
Online ad spending
3%
ecommerc
ecommerc
e
e sales
sales in
in
Brazil
Brazil
Smartphones
[% of population, 2012]
28%
50%
US$3.3
B
7%
US$11.
3B
Spent
Spent on
on
online ads
in
in Brazil
Brazil
28.5M
15%
Sources: eMarketer, New Media Trend Watch, Google Think Mobile Research, Ibope, ebit, Monashees
Smartphon
Smartphon
es
es in
in Brazil
Brazil
Marketplaces
E-commerce
EduTech
Real
Estate
220K
brokers
Most properties are not
online yet
Furniture
US$ 20B
Test
Prep
Jobs
80M
Home
improvemen
t
US$ 25B
market
top 10 players accounts for
less than 10% of the market
Profes
.
Education
Desintermediatio
n
K12
of operational
employees, lack of
solutions to recruit these
professionals
. rotces secServic
ivres ni si tn
75%
m
e
yolm
p
e eht fo
es
Mobile
market, lack
of an alternative with good
quality, design and
accessible price
FinTech
Enterprise tech
Mobile
-first
28.5M
smartphones,
the Brazilian AppStore and
Google Play lack top
localized alternatives
Insurance
US$ 10B
market,
online accounts for less than
5% of the transactions
SMBs
+5M
Featur
e
phone
s
Invest
ments
SaaS
77%
Mobile
payme
nt
Credit
US$ 1 tri
Enterprise
companies, mostly
underserved by technology.
Only 26% use any kind of SW
for mgt.
of companies will
increase their investments in
SaaS in the next 2 years
Favorable timing
Adoption
Infrastructure
Imported
Proven
models
Local
innovation
Global
innovation
Upsid
e
Risk
Time
Sources: Monashees analysis
Economic growth
GDP Growth [%]
Online growth [% vs
2011]
7.5%
Internet
users
8%
Ecommerce
sales
22%
5.2%
3.2%
2.7%
2.5%
Spending
on online
ads
21%
Smartphon
e users
88%
0.9%
-0.3%
Sources: Brazil Central Bank, Ipeadata, Bradesco, eMarketer, New Media Trend Watch, Google Think Mobile Research, Ibope, Monashees analysis
Country
Singapore
Hong-Kong
New Zealand
USA
Denmark
129
Bangladesh
Starting a
business
Starting a
business
Protecting
investors
Protecting
investors
Trading
across
Trading
borders
across
borders
Getting
credit
Getting
credit
Complex
tax
Complex
strucutre
andtax
labor
strucutre
laws
and labor
laws
Enforcing
contracts
Enforcing
contracts
130
Brazil
131
Nigeria
132
India
Lower competitive
pressure +
premium of
scarcity
Education
Kroton
IT
Linx
Software
Totvs
Marketpla
ces
MercadoLibr
e
Growth equity
Revenue
Seed/Series A
Growth
Private Equity
US VCs
Best
companies
Time
MARKETS
TEAMS
LIQUIDITY
13
Foreigners
Corporatio
ns
Locals
Highimpact
entreprene
urs
Tech
Returning expatriates
Academy
14
Technical talent
Engineers
availability
[per 1000
professionals]
25
IT manager salaries
[Monthly, in 000 BRL]
21.6
25
16.5
18.0
VC are helping on
this
Talent
Management
Active support on
head-hunting
Advisors
6
Community
Share knowledge
among entrepreneurs
15
MARKETS
TEAMS
LIQUIDITY
16
Tech exists
Relevant tech exits in
emerging markets
IPO
Number of VC investments
based on Startup Dealbook
Brazil
M&A
79
45
17
6
Timeline
Funded startups
Boom
2009
+ 5-7
years
Correction
2012
Local
incumbents
2013
Virtuous Cycle
2015
You are
here
International
investors
Accelerato
rs
Local
Investors
Role models /
angels
18
Thank you!
19
Exchange rate
Foreign Exchange, inflation adjusted [BRL / USD,
1997=100]
2002 Presidential
election
election
2008
2008 Global
Global credit
credit crisis
crisis
September/11
September/11
1998
1998 Russian
Russian
crisis
Nominal rate
1.0
1.0
4
4
1.9
1.9
8
8
1.9
1.9
7
7
3.5
3.5
2
2
2.9
2.9
4
4
Sources: World Bank, UBS, Brazil Central Bank, Ipeadata, Bradesco , Monashees
2.6
2.6
2
2
2.3
2.3
1
1
1.6
1.6
7
7
1.9
1.9
8
8
2.26*
2.26*