Latin American ecommerce giant B2W has received almost $1 billion in investment (£610 million).
The firm is the biggest online retailer in Brazil, and therefore Latin America as a whole, and operates brands including Submarino.com and Americanas.com.
Charles Coleman's hedge fund Tiger Global Management, which has also invested huge sums in China's JD.com, plans to provide up to 1.2 billion reais ($500 million) to buy a stake into the Rio de Janeiro-based B2W Companhia Digital via two of its funds.
B2W's largest shareholder Lojas Americanas, which is Brazil's biggest discount store chain, will invest a minimum of 1.021 reais ($420 million). The total combined funding is expected to reach 2.38 billion reais ($980 million or £600 million).
Reuters sad the investment plan was revealed in a securities filing and would be made by issuing new shares. The shares will be issued at 61 per cent above the stock's closing price before the announcement.
Tiger Global has around $11 billion in assets under management which has been reach in part by deft investment in online firms before they sell shares to the public.
Brazil's ecommerce market is expected to grow at about 18 per cent a year between now and 2016, according to market research by AT Kearney.
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