[2] The IVC was established in 1997 by Sérgio Batarelli after a disagreement between him and Frederico Lapenda, with whom he had been co-promoter of the World Vale Tudo Championship (WVC).

[2] Batarelli was a former kickboxing world champion and had Vale Tudo experience with a bout against Casimiro "Rei Zulu" de Nascimento Martins in 1984[3] before he decided to become involved in the business side of the nascent sport.

[4] The IVC revealed many future stars of MMA such as Wanderlei Silva, José "Pelé" Landi-Jons, Renato Sobral, Johil de Oliveira, Artur Mariano, Ebenezer Fontes Braga, Branden Lee Hinkle, Carlos Barreto, Wallid Ismail, among others, and also hosted recognized foreign fighters such as Chuck Liddell and Gary Goodridge.

The first events were no holds barred contests inspired by the Ultimate Fighting Championship[5] and gained an international reputation for their hardcore nature.

The IVC became one of the most important Vale Tudo tournaments in Brazil during its existence, and became a popular, globally recognized promotion just after the UFC and PRIDE Fighting Championships.