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S茫o Paulo-headquartered filed with the SEC indicating that it’s finished raising a little under $135.4 million for its second growth-stage venture capital fund.

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The filing states that 43 limited partners backed the new fund, which is significantly larger than its first. According to and from August 2017, Base Growth I topped out at a comparatively small $75 million, which it has presumably deployed.

Crunchbase data lists only a handful of deals for Base Partners, including participation in rounds raised by India-based esports venture , cloud security company , and a raised by software containerization giant . This being said, the lists several other portfolio companies, including the likes of U.S. payments giant , video-conferencing service (which recently went public), and Chinese social media giant , among others.

The firm has two general partners, according to the filing. is the firm’s managing general partner. Before diving into venture capital, he worked on the public equities side at firms like Skopos and N煤cleo Capital. Arthur Mizne is the firm’s co-founding general partner and is also a finance industry veteran. He was previously a portfolio manager at Synthesis Asset Management and founder of M Square, an investment firm catering to a “select group of Brazilian families and institutions,” according to . M Square鈥檚 site says the firm is a “partner” of Base Partners, but did not explain the context or structure of that relationship.

The new fund comes amid a period of excitement in Brazil’s tech and VC scene. According to recently-compiled LAVCA data reported on by Mary Ann Azevedo for Crunchbase News, Brazilian companies raised $1.97 billion in VC 2018.

According to Crunchbase data, 2019 is on track to at least match VC dollar volume highs set by Brazilian startups. In July, 鈥攁nother company listed on the portfolio page of Base Partners’s website鈥攔aised , which valued the payments company at $10 billion, post-money. Other supergiant rounds1 raised by Brazilian startups this year include fitness experience startup Gympass’s , consumer lending company Creditas’s , and the inked by leading local logistics firm Loggi.

To deploy its new fund in the best deals, Base Partners will need to compete with other seekers of outsized returns in Latin America. Just last week, closed $600 million across two new funds. Last year, received $150 million for its eighth flagship venture capital fund. But perhaps the biggest elephant in the room is and its subsidiary investment arm, the . SoftBank and its related entities led the aforementioned rounds raised by , , and . In March, the Japanese telecoms giant announced its intent to invest $5 billion in Latin American tech ventures through a dedicated pool of capital it calls the SoftBank Innovation Fund.

In April, Mary Ann Azevedo explained that the new SoftBank fund dedicated to the region was a sort of inflection point. For that report, LAVCA’s venture capital director, , told Crunchbase News that “Latin America’s moment has arrived.” We鈥檒l have to see how Base Partners鈥攁nd its deep-pocketed competitors鈥攃apitalizes on the zeitgeist.

Photo: iStock