Brazilian portal iG garners $100M in funding

The Brazilian free-Internet portal iG -- launched in January and claiming more than 1.6 million registered users -- has reached an agreement with a group of international investors for a 15 percent equity investment in the company for $100 million. Those participating in the new round of investment in iG (Internet Gratis) -- which is engaged in a fierce battle for market share amid Brazilian ISPs -- include TH Lee Putman Internet Partners (THLi) and UBS Capital Américas. They join other stake-holders including GP Investimentos, Opportunity Bank, Telemar and Brasil Telecom. -- Jayme Dos Santos, ZDNet Latin America