Last year, the venture capital arm of the computer chip maker backed five companies in this up-and-coming South American economy. It announced two of them on Friday. It also doubled its investment staff.
The first investment is Fashion.me, a Sao Paulo social network for fashion that was founded in 2008. Users create custom looks and share them with friends. They also purchase items. The second is Coquelux, a Sao Paulo online purchasing club for fashion, where members get notices of flash events with discounts of 30% to 90% on premium labels.
The investments are hoped to support the development of e-commerce in Brazil. (See the announcement of the investments here.)
They also are clear evidence of Intel’s growing fascination with opportunities there. The organization last year expanded its investment staff in the country to four and reports that since 1999, when it first started investing in Brazil, it has put $75 million in 25 local companies. Brazil is now the third-largest PC market in the world, Intel says.
Intel’s Brazilian staff includes Managing Director David Thomas and investors Alexandre Villela, Ricardo Arantes and Fabio Iunis dePaula. All are based in Sao Paulo.