Investing venture capital funds in Brazilian startups is a lot like match-making, which would make Monashee’s Capital partners Eric Acher and Guillerme Decourt part investor and one part Yenta. Today we sat down at their office to talk about educating the market about the role of a venture firm, taking the long view of investments, how to spot a winner and the importance of saying “no.”
“We’re not techy guys, we’re strategy-oriented,” Acher told me. As such, marrying the right idea with the right team is a strategy that Monashees views as central to their long term success. “An idea is a commodity,” Acher said. “The name of the game is compatibility.” And, just a like a couple who saying their vows, Monashees is committed to the long-haul.
Investing for a seven to-10-year exit was something that sounded so strange to me I almost didn’t believe my ears, but a lot of what I have experienced in Brazil defies explanation.
In Brazil, it is often money that chases ideas because experienced, professional entreprenuers are so rare. One case in point is boo-box, a Monashees portfolio company. When boo-box was little more than a concept, Monashees was one of many firms that approached an offered to invest, and their pitch, complete with an Internet veteran as CEO–Marcos Tanaka–hit the right note. This is clearly the exception to the rule, however. “We’re not in the deal-making business,” said Acher. “We’re in the company-building business.”














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