CFP partners with Outsource Brazil to fund local startups

Monday, June 13, 2011

Los Angeles-based venture capital firm Crescent Financial Partners (CFP) has signed a partnership agreement with Outsource Brazil to open a new office and provide business development services and investment capital in Latin America's biggest country, the former announced in a statement.

"Brazil is one of the fastest growing economies in the world, burgeoning with emerging investment opportunities," CFP founder and CEO Russell Armstrong said. "The country offers significant growth opportunities today, similar to those enjoyed by investors in China over the last 15 years."

In turn, "CFP's arrival offers a significant opportunity to build up more private capital in the local market, a key component for development and growth of innovative business," Computer World quoted Outsource Brazil director Robert Janssen as saying. Jansen has been appointed as director of CFP's Brazil office.

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In the coming months, Crescent will review investment opportunities, provide strategic planning and business development expertise to startups and innovators, and provide principle funding with the goal of accelerating innovation development activities within Brazil.

Crescent is a private equity merchant banking firm focused on early stage and middle-market opportunities.

Outsource Brazil, headquartered in Rio de Janeiro, specializes in advising and executing business strategies. It focuses on IT, telecommunications, energy and clean tech.