SAO PAOLO (Bloomberg) - FIR Capital Ltd., a Bermuda-based venture capital company that focuses its activities in Brazil, cancelled a public offering in the country.

The company, which announced plans in January to sell Brazilian depositary receipts, said on the website of the country's stock market regulator that it had cancelled the sale. No reason was given in the online posting. FIR Capital last year partnered with Draper Fisher Jurvetson, the San Francisco-based venture capital firm that backed Hotmail and Skype. DFJ controls 12.5 percent of the company's voting shares, according to FIR's prospectus.