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Telefónica invests Brazilian innovation fund and focuses on blockchain, AI and 5G networks


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Telefónica, the Spanish telecommunications giant, will invest 300 million euros (about R $ 1.5 billion) in companies worldwide that support blockchain projects, Internet of Things, among other emerging technologies.

The Brazilian fund Redpoint Eventures, from Silicon Valley (USA) and dedicated to supporting Brazilian startups, is the most recent institution to receive a contribution. According to Valor Econômico, the investment was made through Telefónica's 'Innovation Ventures' (TIV) arm.

As described, the action is an investment cycle that even provides for the purchase of direct shares of companies. However, the amount allocated to the Brazilian fund so far has not been revealed.

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According to the report, Guenia Gawendo, responsible for TIV, said that the objective is to support companies that have developed technologies related to the telecommunications sector. According to her, Telefónica is also interested in partnering with companies in the future.

The areas of interest are specifically digital transformation, 5G networks, cybersecurity, cloud computing, artificial intelligence, internet of things and blockchain, Valor wrote.

In addition to Brazil, three more countries whose regions were considered strategic for Telefónica will also receive investments.

According to Guenia Gawendo, responsible for TIV, these funds are in the United States (Alter Venture Partners), Israel (Vintage Investment Partners) and Spain, which has not yet had a chosen fund.

Telefónica eyeing Brazilian companies

Renato Valente, responsible for Wayra, another branch of Telefónica that also invests in companies in Brazil said that the fund also started to invest more.

The motivation, according to him, was the improvement in the quality of the entrepreneurs and now the contributions will be up to R $ 1 million, "double the previous level", he told the newspaper.

Redpoint eventures is a joint venture between Redpoint and eventures, from Silicon Valley, registered with the US SEC. Brazilian companies or companies operating in Brazil, such as Creditas and Rappi, are part of its portfolio.

As said by Valor, Anderson Thees, managing partner of the fund manager, the fund's relationship with Telefónica is old, both through TIV and Wayra.

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