- The fund will focus on companies in the areas of health, retail, manufacturing, financial services, agriculture, and education;
- The fund will have the discretionary management of Citrino.
The corporate software company Totvs announced on Thursday a BRL 300 million investment plan in startups through the acquisition of minority stakes.
The fund should focus on companies in the areas of health, retail, manufacturing, financial services, agriculture, and education, prioritizing those with high potential for innovation that work with the development of software as a service (SaaS) and/or with management and data traffic.
“In recent years, we have greatly expanded our scope of operations, considering our three business dimensions – management, tech fin, and business performance. This has increased the number of interesting companies on our horizon,” said the company’s CEO, Dennis Herszkowicz.
“At the same time, there is a boom of startups developing new business models and new technologies… Investing in companies with high growth potential and total focus on innovation through minority stakes is an interesting new resource for Totvs,” he added in a press release.
The fund will be managed at the discretion of Citrino and Totvs will participate in the fund by appointing members to a consultative committee that will help the manager in the evaluation of investments and the growth of the companies invested in.