Stay up to date on our entrepreneurs, events, research and more. Check out our June newsletter here.
This article is reprinted from Dow Jones VentureWire. The original version can be found here.
Intel Capital has teamed up with Endeavor Catalyst, the equity investing division of nonprofit Endeavor Global Inc., to fund Minha Vida, a health-and-wellness Web portal that one investor described as the “WebMD of Brazil.” Further details about the funding were not provided.
Founded in 2004, Minha Vida offers an all-in-Portuguese Internet portal that connects consumers to a wide range of health information, professionals and social networks related to health, company materials said. The only such service of its kind in Brazil, Minha Vida boasts 8 million visitors per month, 14 million registered users and tens of millions of page views per month.
The investment marks Intel Capital’s first Brazil investment this year, and the second ever for Endeavor Catalyst, still a fairly new part of Endeavor, said Baily Kempner, a director at Endeavor.
Intel Capital, which invests globally, backed five Brazilian companies last year, and has put a total of $75 million into Brazilian companies since it began investing there, the firm said. Intel Capital began investing in Latin America in 1999. An attempt to reach the firm was not immediately successful.
For Endeavor Catalyst, the investment follows a February investment of $2 million in Globant, a software development company headquartered in Argentina. Though part of a nonprofit that supports entrepreneurship worldwide, Endeavor Catalyst makes equity investments, with the understanding that any profits will be plowed back into the organization, which over the years has mentored and helped some 700 entrepreneurs launching new businesses, Kempner said.
New York-based Endeavor Catalyst is in the process of raising a fund that the group hopes will grow to $50 million over the next several years, and has raised $12 million to date, Kempner said. The fund does not have limited partners, but donors, she added.
Donors in the fund include True North Venture Partners Chairman Michael Ahearn, former Warner Music Group Chairman Edgar Bronfman Jr., Accretive LLC Managing Partner Michael Cline, Greylock PartnersPartner Reid Hoffman, Abraaj Capital founder Arif Naqvi and Omidyar Network founder Pierre Omidyar, Endeavor Catalyst has said.
© 2016 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Site by #BRITEWEB