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