VC-Backed Prodimol Sells Stake

FIR Capital Partners, a Brazilian Venture Capital firm, its stake in Prodimol Biotecnologia S.A., a Belo Horizonte, Brazil-based company that manufactures and distributes medical products and pharmaceuticals, to Orgenics, a division of Iverness Medical Innovations of Waltham, Massachusetts.

Press release:

FundoTec I’s limited partners include the Sumitomo Corporation, the Multilateral Investment Fund of the Inter-American Development Bank (IADB), the Brazilian Small Business Agency (SEBRAE), and private investors.

Orgenics intends to increase its presence throughout Brazil and Latin America through Prodimol’s extensive local distribution network.

Terms of the deal were not disclosed.

About FIR Capital

Founded in 1999, FIR Capital is a leading Brazil-based Venture Capital firm that invests in early and expansion phase companies that offer outstanding growth potential.

Previous successes include the sale of Biobrás S.A. to Novo Nordisk, Miner Technology to Universo Online (UOL) and the sale of Akwan Technology to Google.

In 2007, FIR Capital became a part of the Draper Fisher Jurvetson Network. Draper Fisher Jurvetson (DFJ), is one of the world´s leading Venture Capital firms. The DFJ Network spans 4 continents and consists of 23 venture capital funds, 135 investment professionals, more than 300 investors and investments in over 550 companies, with nearly US$ 6 Billion under management.

DFJ´s past successes include Hotmail, Skype, Baidu, DivX, Mobile365, Overture, 411 and EnerNOC.