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The Venture Codex

Bewater

Cubo Itaú Alameda Vicente Pinzon, 54 – Vila Olímpia, São Paulo, SP, 04547-130, Brazil

Overview

We invest in exceptional people and attractive businesses, with exponential growth potential. We help companies to focus on what is important and organize their resources for flawless execution.

Total investments
3
Lead investments
3
Investments · 12mo
1
Active investors
5
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Investment portfolio

  • UME Financial Services

    Led · Series B · Sep 2025

    Ume offers a full credit infrastructure platform that uses AI to handle credit analysis, pricing, collections, customer service and access to capital. The company enables retailers, marketplaces and service providers to offer consumer financing across its network. Ume operates in 10,000 points of sale and serves roughly 4 million consumers in Brazil. The recent R$96M FIDC transaction is expected by Ume to generate more than $192M in additional revenue for its partners. The funding injects receivables-backed capital into the business to support continued expansion of its financing operations.

  • Skyone

    Led · Equity · Feb 2024

    Skyone provides a proprietary cloud orchestration platform combined with ERP and channel-distributed solutions for small and medium-sized enterprises, including layers of cybersecurity, data integration and recently added AI capabilities. The company serves about 25,000 customers through roughly 400 active channels (ISVs, software houses and specialized partners) and reports that 60% of sales occur via channel partners and 40% direct. In 2025 Skyone recorded R$400 million in revenue and generated 20–25% of revenue from markets outside Brazil, split between North America and Latin America. Management projects 50% growth in 2026 to reach roughly R$600 million and has been hiring solution architects, pre-sales and partner managers to scale go-to-market and product initiatives. Skyone is expanding beyond cloud integration into building AI agents via a platform for customers and partners and a marketplace for agent distribution, and it is pursuing both horizontal consolidation and targeted acquisitions of niche AI teams to accelerate those efforts.

  • Lico Cosmetics

    Led · Equity · Jul 2023

    LICO Cosmetics (Laboratorio de Ingeniería Cosmética) formulates, develops and commercializes cosmetic treatments that address skin problems, operated by a team of women engineers. Founded three years ago by Estefanía Ferrer, the company combines in-house R&D with a direct-to-consumer ecommerce. To date it has created and launched 11 unique products and emphasizes R&D and customer care as its key differentiators. The startup reported revenue exceeding €2 million last year, grew over 450% in its second year, and registers monthly growth above 10%. It has a community of more than 20,000 “licolovers” and a repeat-purchase rate above 40%. LICO plans to double revenue in 2023 and expand R&D to develop six additional effective references while scaling into new markets.

Team