RIO DE JANEIRO, March 6, 2013 /PRNewswire/ -- Ideiasnet announces
the acquisition by Paul Capital of an 18.2% share in 'Ideiasnet FIP
I' which holds stakes in 6 of Ideiasnet's 11 invested companies.
The transaction values the fund at R$ 435
million and generates proceeds to Ideiasnet of R$ 79 million.
"We have been tracking the
development of Ideiasnet and its portfolio companies since 2009 and
we strongly believe in Ideiasnet management's ability to capture
significant additional value from the existing portfolio over the
next 3-4 years" says Brian Sullivan,
partner of Paul Capital in New York
City.
Proceeds from the transaction will
allow Ideiasnet to conclude a capital increase in portfolio company
Padtec together with BNDES as well as accelerate its strategy of
launching a new generation of growth equity funds focused on
technology related companies in Brazil.
"This is the twelfth consecutive
portfolio transaction executed by the current Ideiasnet management
team and implies an Internal Rate of Return (IRR) of 46% for the
fund. This secondary purchase demonstrates an innovative liquidity
option for mature, well-managed venture capital funds in
Brazil" says Sami Haddad CEO of
Ideiasnet.
About Paul Capital: a U.S. based
Private Equity investment group that has been acquiring private
equity assets through the secondary market for over 20 years.
Since the firm's inception in 1991, they have completed more than
150 secondary market acquisitions. The firm currently manages
over US$5 billion in aggregate
commitments. It is currently investing from Paul Capital
Partners IX, L.P., a US$1.65 billion
fund focused exclusively on acquiring private equity portfolios in
transactions such as this one.
About Ideiasnet FIP I: the fund
holds Ideiasnet's participation in its 6 major investments, namely:
Officer, Brazil's largest IT
distributor; Padtec, a manufacturer of optical communications
systems; EAX, a leading Brazilian e-commerce enabler; Tectotal, a
provider of IT Value Added Services; Pini, a leading content
provider for civil construction and Batanga, a US and Latam
digital media company.
About Ideiasnet
Ideiasnet (IDNT3:BZ) is a Brazilian
venture capital firm that invests in fast growing technology
companies in the areas of Digital Commerce, Digital Media, SaaS,
Mobile, Health and Education.
Contact:
Carlos Eduardo Rocha Gadelha
Email: carloseduardo@ideiasnet.com.br
Phone: 55-21-3206-9206
SOURCE Ideiasnet S.A.
