Brazil's BTG invests in tech startups
Brazilian investment bank BTG Pactual invested 10mn reais (US$2.73mn) in three technology startups.
The bank invested in Digesto, a legal content company; Finpass, a credit company with a focus on SMEs; and Agronow, a company that works in the monitoring of satellite crops. All three companies use AI for their business.
BTG's investment in the firms represents less than 10% of their capital and was made via its private equity arm.
"We want to make a financial return, of course, but it's more than that. We admire these entrepreneurs and we can contribute to leveraging the business as partners, maintaining independence and without changing the company's identity. In addition, these startups can also catalyze activities for the bank itself," local business daily Valor reported Renato Mazzola, a BTG partner responsible for the bank's private equity area, as saying.
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