Participated · Equity · Sep 2023

Foodology builds and operates delivery-only restaurant brands via cloud kitchens across multiple Latin American markets. The company runs 90 cloud kitchens in Colombia, Mexico, Peru and Brazil, where it arrived in 2022 and now operates 13 kitchens in São Paulo and Curitiba. In Brazil it produces brands such as Marmí, Mizuki, Sush1, Avocalia and Brunch & Munch, and recently launched Nobru Burger in partnership with influencer Nobru. Foodology delivers roughly 100,000 meals per month in Brazil and is growing at about 10% monthly. The startup plans to open about 20 additional cloud kitchens in São Paulo over the next 12 months, expand to other Brazilian cities and invest in new brands through acquisition or creation. Financially, it recently closed a $17M financing and has now raised more than $69M in capital to date. Foodology is a cloud-kitchen and virtual-restaurant operator that creates original food brands based on geographic and consumer-data insights, then operates and scales them to profitability. The company was co-founded in 2019 and is active across Colombia, Mexico, Peru and Brazil. Over the last 12 months it expanded to 83 locations and is poised to reach about 100 by year-end; its core brands grew from four to eight. Monthly orders have doubled since 2021 (when Colombia saw about 100,000 orders per month) and the company previously reported roughly 360 employees. Foodology plans to focus on higher kitchen density, particularly in Brazil, which the founders say is materially larger than Colombia. The company raised new capital to support that expansion and further market penetration. Foodology operates cloud and virtual kitchens, using data and chef-led R&D to create and scale original and third-party restaurant brands optimized for delivery. The company claims a model that allows rapid market rollout and typically produces seven to ten brands per kitchen. Foodology currently runs 20 kitchens in six Colombian cities and 10 kitchens in Mexico, employs 60 corporate staff and over 300 kitchen workers, and in Colombia takes about 100,000 orders per month (over 1 million orders total). The founders say the business is growing 50% month-over-month in revenue and will use new capital for product development and geographic expansion. Management plans to open another six kitchens and enter Brazil and Peru next year, with a long-term goal to support 500 kitchens across the region.

Participated · Series A · Aug 2023

Praso operates a B2B distribution platform connecting large foodservice manufacturers with small retailers — bars, restaurants, cafés and bakeries — and provides data-driven demand generation, last-mile logistics and a credit solution. Founded in 2021 and headquartered in Recife, the company works with 120 supply partners and 7,500 merchants across four metro areas. Praso originally bought inventory from suppliers to resell to merchants but is shifting toward offering fulfillment services where it runs logistics for manufacturers and monetizes logistics, demand generation and marketplace customer acquisition. The company grew revenue 7x over the past year, became contribution profit positive in 2023, and is on track to grow another 3x by the end of this year. Praso recently acquired the intellectual property of Floki, an AI startup that automates purchases for small bars and restaurants, and plans to integrate Floki’s data intelligence and purchasing insights into its product. Future features include accounts payable management, automated inventory fulfillment and a merchant credit offering to provide working capital and buy‑now, pay‑later style terms.

Participated · Equity · May 2023

Liquido offers a comprehensive and flexible payments platform that serves cross-border and local businesses across Latin America. The company debuted a Payment Plus Platform (PPP) that runs on top of its core payments services, with initial solutions including the WhatsApp Liquido Store and Payment Success Booster. Liquido processed more than $300M in payments through a closed beta with several top consumer brands. Leadership includes MK Li (CEO) and Shanxiang Qi (CTO). The company plans to use new funding to accelerate deployment and to develop additional capabilities and solutions for merchants. Liquido emerged from stealth and is opening access to its technology commercially.

Participated · Equity · Nov 2022

SABU operates a dental‑focused cloud back‑office (online administrative outsourcing) that handles non‑clinical tasks for dental clinics, freeing dentists to focus on care. The company also offers related services such as website production and SNS operation. SABU frames its mission as ‘supporting medical care through systems’ and aims to become a comprehensive platform covering time, people, goods and money for the medical industry. Its service adoption roughly doubled year‑over‑year by the start of its fourth fiscal year in August 2022, and it cites client outcomes such as increases in private treatment proposals and a reported 1.5x year‑on‑year revenue lift at one client. As of November 2022 the company had 42 employees and promotes full‑remote, full‑flex work to recruit nationwide talent. Planned initiatives include accelerated marketing, hiring and training of regional staff, and deeper alliances with industry organizations and companies to expand service reach.

Participated · Series G · Oct 2022

Navan provides a unified platform that automates business travel booking, corporate card usage, and expense management, giving finance and travel teams real-time visibility and control over spending. Its features include dynamic travel policy enforcement, real-time reporting, and built-in spending controls aimed at cutting costs and improving efficiency. Over the past year the company has expanded aggressively, acquiring Reed & Mackay, Comtravo, and Resia while launching Navan Expense in Europe and opening offices in Portugal, Germany, France, and the UK. Navan now employs more than 2,500 people across nearly 60 offices worldwide. The platform’s continuous product innovation and AI-driven automation are designed to help organisations drive responsible spending and increase savings. With a $9.2 billion post-money valuation following its latest raise, Navan plans to accelerate global expansion and further scale its travel and expense offering.