Led · Equity · Dec 2025

Harmony Baby Nutrition is creating a new class of infant and toddler formulas designed to closely mimic the composition and functionality of human breast milk. Founded by Wendel Afonso after witnessing his daughter’s formula allergies, the U.S.–headquartered company uses precision fermentation to eventually replace cow-milk proteins with recombinant human lactoferrin, alpha-lactalbumin, caseins, and albumin, aiming to cut added sugars, eliminate dairy, and improve taste. Its first commercial product, Melodi, is a lactose-based toddler formula that has shown a 61% higher sensory preference than standard hypoallergenic products. A new 250 m² R&D hub will be built in Belo Horizonte by 2026, employing 25 specialists to advance product development and quality control. Harmony partners with contract manufacturers that meet FDA and Codex standards and with large-scale recombinant protein suppliers to ensure capacity and segregation from cow-milk proteins. The firm is initially targeting regulatory approval and market entry in the U.S., followed by Brazil, and later Australia/New Zealand and Singapore. Its strategy involves evolving from a science-focused organisation to a commercially oriented company by expanding manufacturing, quality, marketing, and customer support capabilities.

Participated · Series A · Dec 2024

Nintx develops a new generation of multi-target medicines derived from Brazilian biodiversity, focusing on multifactorial diseases mediated in part by the human gut microbiome. Its proprietary platforms include xGI biomics®, which simulates the gastrointestinal system, and GAIA path®, a knowledge-graph analytics tool mapping plants, natural products, biological targets, the microbiome and diseases. The company advances programs through preclinical development with a plan to license candidates to large pharmaceutical companies for clinical development and commercialization, targeting the first licensing within three years. Near-term plans include accelerating R&D of eight drug programs (many in partnership with companies such as Adeste and Centroflora and research institutions including CIEnP and CNPEM/Sirius), hiring researchers, introducing new technologies, and expanding its laboratory. Financially, Nintx completed a $10M Series A and previously raised a $3M seed in 2022; the Series A is complemented by a $2.5M grant from FINEP. The company also announced a C‑suite restructuring with Stephani Saverio becoming CEO in January 2025.

Led · Equity · Oct 2022

Tributei provides software that automates the calculation and generation of ICMS-ST and DIFAL guides for incoming invoices, eliminating manual steps in tax apportionment and guide generation. The product targets accounting firms and companies in commerce, enabling tasks that took ~30 minutes per invoice to be completed in seconds and claiming roughly 97% time savings. The platform also audits invoices and has identified more than R$8 million in improperly charged ICMS-ST for clients. Founded in 2019 by Waldir Souza Júnior (CEO), the startup says it already helps over 5,000 companies. Since founding it has grown on average 300% year-over-year and projects 400% growth over the next 18 months. Tributei is headquartered in Amapá and is opening an office in São Paulo as part of its national expansion. The company plans to extend the product to help commerce and industry calculate and remit ICMS on sales invoices next. Tributei, founded in 2018 in Amapá, offers a software platform that automates calculation of the ICMS Substituição Tributária (ICMS‑ST) tax. Its tool reduces the time to calculate ICMS‑ST for 1,000 invoices from about 22 days manually to a single morning. The company currently serves more than 800 companies across six Brazilian states (São Paulo, Rio de Janeiro, Minas Gerais, Mato Grosso, Paraná and Amapá). The founding team includes CEO Waldir Júnior, CMO Jefferson Pinto, and CTOs Fábio Jr. Moreira and Wanderson Elias. Tributei has a team of 10 employees and plans to double headcount by the end of the year. Past non-dilutive support includes a state government edital grant this year and a 2019 aporte via the national Conecta Startups program. The company intends to complete its product roadmap and add new platform solutions to grow its user base.

Participated · Debt Financing · Aug 2014

Movile is a Latin American tech holding that owns and backs businesses including Brazilian delivery app iFood, fintechs MovilePay and Zoop, and Colombia-based logistics company Mensajeros Urbanos. The company’s portfolio spans food delivery, payments/fintech and last-mile logistics, with Mensajeros Urbanos expanding into Mexico. Movile said it will use the new capital to fund expansion across its current companies. The firm reported revenue growth of about 80% a year over the last three years, without disclosing absolute revenue figures. Prosus, described as a major shareholder and global consumer internet group, is the investor behind the new funding. The announcement was reported from Sao Paulo by Reuters. Movile operates iFood, a meal-delivery app that is the largest food delivery service in Latin America. iFood runs in 483 Brazilian cities and supports 120,000 motorcycle delivery drivers serving 50,000 restaurants. The platform averaged about 390,000 deliveries per day in October, more than double the same period in 2017, and achieved unicorn status roughly a year and a half ago. Movile announced a $500 million funding package to grow iFood, with $400 million pledged this week and $100 million raised in the past several weeks. The company plans to use the capital to invest in artificial intelligence and optimize delivery logistics, and has said it can triple the number of restaurants on the platform. Founder and president Eduardo Henrique disclosed the raise in an interview with Reuters, and Naspers has reiterated its commitment to backing the company. Movile operates a portfolio of consumer-facing businesses, notably the food delivery service iFood, payments platform Zoop, and ticketing platform Sympla. The company follows a buy-and-build strategy, making investments in promising startups across Latin America and incubating subsidiaries such as iFood. Movile reports about 150 million users per month across its application ecosystem, and company executives say many of its businesses are growing at over 100% per year. Leadership cites Chinese super-apps like Meituan and WeChat as models for long-term expansion and integration. The company plans to use the latest funding to expand iFood, Zoop and Sympla and to continue making acquisitions and investments in the region. Movile is positioning itself to capture the large Brazilian market and broader Latin American opportunity through both organic growth and further deals. Movile is a Latin American marketplace developer whose business lines include logistics and delivery, ticketing, online gaming and education. Its most capital‑intensive and investor‑attracting business is iFood, a leading food delivery company in Latin America. As of September 2017 the company had reached 6.2 million monthly orders and become the largest food delivery company in the region. CEO Fabricio Bloisi views food delivery as a gateway to other online‑to‑offline commercial transactions and plans to leverage iFood to expand into logistics, financial services and other areas. Movile also operates subsidiaries and products such as PlayKids, Apontador, Rapiddo and Sympla that fit into its broader marketplace strategy. The company has attracted substantial investor capital—over $250 million to date—and is using new funds to scale iFood’s technology platform and accelerate product development. Movile operates a suite of consumer businesses including its Rappido subsidiary and is pursuing a single‑point marketplace for services such as food delivery, ticketing, top‑ups and gaming. The company intends to replicate the integrated super‑app model exemplified by Tencent and Line, and to expand that services suite across Latin America. Movile is backed by Naspers, which increased its commitment to the company as part of the latest financing. The company has reported a compound annual growth rate of 60 percent over the last eight years. The new capital will be used to expand Rappido’s marketplace ambitions and to grow food delivery, ticketing and gaming businesses across the region. Movile’s plan includes launching marketplace features that let users order tickets, top up minutes and get food or groceries through a single messaging point of access.