Business

Kaszek Ventures led a BRL 100 million round to Brazilian brokerage Ideal

The brokerage will now expand operations to new products and reach the retail audience

Photo: LinkedIn Ideal/Screenshot
  • The new round still needs to be approved by the Brazilian Central Bank;
  • Kaszek Ventures will have a minority stake in the Brazilian brokerage.

Kaszek Ventures, the largest venture capital manager in Latin America, led a BRL 100 million round to have a minority stake in the Brazilian brokerage Ideal, reported Valor Econômico.

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The firm, which at first worked with heavy investments in cutting-edge tech and institutional customers, will now expand operations to new products and reach the retail audience.

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The B2C investment market, unlike the institutional investors, is increasingly competitive in Brazil, as pointed out by NeoFeed. Last week, Nubank announced the purchase of Easynvest, and, in July, Neon acquired Magliano and Credit Suisse acquired modalmais.

The new round raised by Ideal is still subject to approval by the Brazilian Central Bank.