Having announced restructuring plans that include 1,300 job cuts just this week, Cisco today announced the investment of USD 15 million in the venture capital fund Redpoint e.ventures Brazil.
RPeV is a joint venture between Redpoint and BV Capital/e.ventures, two successful venture capital funds based in Silicon Valley. The locally managed and operated RPeV fund is based in Sao Paulo, Brazil.
Brasil is a key market, according to Cisco, and as such, the new venture capital fund will focus on early-stage investments in the South American country.
Cisco is a leading company in networking and has recognized the huge economic and innovation potential in Brasil’s information and communications technology market.
Cisco announced that its intention is to accelerate the introduction of new technologies and provide a competitive advantage through early investments in burgeoning technology innovations. At the same time supporting the development of high-growth small and medium-sized companies in the technology, digital media and telecommunications sectors.
This announcement further emphasises the company’s statement this week that it is looking at re-aligning its business.
