Initial investment: January 1999.
Evaluation: August 1999.
Gross Internal Rate of Return (US$): 10,760.0% in period.
Multiple of capital invested: 19.43 times.
Business>> Miner is a company specializing in tools for searching, recovering and processing information online. It was created in 1999 by a group of professors from the Federal University of Minas Gerais who years later participated in the founding of Akwan.
Investment Thesis>> Miner gained fame by transforming the Master’s thesis of Mr. Victor Ribeiro, presently vice president of technology at the Abril/UOL Group, into a product. He discovered a novel method of transforming research results into products and services with vast potential for innovation.
Value Added>> Miner was originally conceived as a “built to sell” company based on our perception that large internet portals were looking for ways to attract and retain users and that a search tool would directly meet this need. Miner was sold to the Abril/UOL Group for an amount 19.43 times the initial investment, after a mere eight months in operation.