Totvs announces R$300 million investment fund in startup innovation

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The enterprise software company Totvs announced, this Thursday (11), an investment plan for BRL 300 million in startups through acquisitions of minority stakes.

The fund should focus on companies in the areas of healthcare, retail, manufacturing, financial services, agriculture and education, prioritizing those with high potential for innovation that work with software-as-a-service (SaaS) development and data management and traffic.

“In recent years, we have greatly expanded our scope of action, considering our three business dimensions – management, techfin and business performance. This has increased the number of interesting companies on our horizon”, said the company’s Chief Executive, Dennis Herszkowicz.

“At the same time, there is a boom in 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 have the discretionary management of Citrino and Totvs will participate by appointing members to an advisory committee that will assist the manager in evaluating the investments and in the growth of the investee companies.

Reference: CNN Brasil

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