Valor Capital, a firm focused on US and Brazil cross-border opportunities, has raised up to $56m for its second venture capital fund, which has a goal of $100m.
So far, the vehicle has received contributions from 50 accredited investors, according to the latest US Securities and Exchange Commission filing. It is unclear in the document if the $100m figure is a target or hard cap.
An initial filing for this vehicle was released early last year and had not reported any capital to be invested at that point.
With offices in New York, Silicon Valley and Brazil, Valor Capital looks to invest through both growth equity and venture capital strategies. It looks to support US and international technology businesses that are aiming to expand into Brazil.
The firm invests across the FinTech, cybersecurity, education, health and wellness and logistics industries.
Its current portfolio includes digital currency wallet Coinbase, personal finance platform GuiaBolso, payment processor Stone, and cyber security company Illumio.
Last year, Coinbase picked up a $100m Series D funding round led by IVP to support the opening of an office in New York. The company also recently launched an Index fund to back digital assets and acquired bitcoin reward app Earn.com.
Brazil led the way for funding in the Latin America FinTech sector last year, according to data by FinTech Global. The country was responsible for 89 per cent of the total $311m that was invested into the region in 2017.
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