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Facebook backer heads to Brazil
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Old 12th June 2012, 06:11   #1
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Default Facebook backer heads to Brazil

Keven Efrusy, who was one of Facebook's early investors, has decided that he is going to stick his cash into the lively start-up scene in Brazil.

Kevin Efrusy gave Mark Zuckerburg more than $12.7 million in 2005 and earned a reputation for knowing where technology is going.

Efrusy spent three days in Brazil earlier this week, has been shopping for consumer e-commerce sites had has been investing in online retailer Shoes4you, Elo7, and travel site Despegar.

He has also written cheques for Mind Lab, a company that is working to improve teaching methodology.

But he has also been going off the beaten path to Espirito Santo, a state north of Rio, to talk with entrepreneurs.

The move to Brazil is interesting. Facebook shares are still being given a good kicking and some people are wondering if US based consumer-Internet companies are worth investing in.

According to Reuters, Efrusy's move south is being seen as something which could start a trend.
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