Venture capital firm Energy Ventures is expanding into Brazil to introduce new technologies to energy companies there and search for new investment opportunities, the company said.
“Brazil’s expansive deepwater E&P market provides a unique opportunity for us to apply and grow our technology portfolio,” said Ole Melberg, Managing Partner at Energy Ventures. “The complexity of finding and producing Brazil’s presalt carbonate reservoirs is driving the creation and application of new technologies as they are the only economical solution to the resource’s challenges.”
Energy Ventures’ Brazil operations will be led by Roberto Paschoalin, executive director of Paschoalin Ltda. and Erik Hannisdal, managing partner of Inventure Management.
Energy Ventures has backed more than a dozen companies in a range of energy exploration and production technologies and currently manages and advises four oil and gas venture funds with $420 million in capital. Client companies include the “rocks from the inside” firm called InGrain and Direct Drive Systems, which was recently acquired by FMC Technologies for $120 million earlier this year.
Energy Ventures is headquartered in Stavanger, Norway, with offices in Aberdeen, Scotland, and Houston.