Azevedo Sette steers tech start-up buy in Brazil
Friday, 10 April 2015 by Thomas Muskett-Ford
Brazilian university investment fund Fundepar has hired Azevedo Sette Advogados as deal counsel to purchase a minority stake in local technology start-up developer Techmall.
Fundepar, which belongs to the Federal University of Minas Gerais and invests in start-ups developed at the university, acquired Techmall for an undisclosed amount on 31 March.
Techmall owns stakes in 13 tech start-ups in a sector tipped to grow by as much as 18 per cent over the next two years. Recent tech investments in Brazil include Chinese search engine Baidu’s purchase of a minority stake in local discount website Peixe Urbano, for which it drew on counsel from Cleary Gottlieb Steen & Hamilton LLP and Stocche Forbes Advogados, and Google’s announcement last year it would open a Google Campus – its start-up funding arm – in São Paulo by the end of 2015.
Deal counsel
Azevedo Sette Advogados
Partner Ana Paula Terra Caldeira and associates Thereza Valladares Souza Frauches and Luísa Margotti de Carvalho.