Votorantim and Temasek announced a partnership to form a new investment fund called 23S Capital, in which they committed to invest up to $700M. The fund will target investment opportunities in high-growth capital in various sectors of the Brazilian economy.
“We are excited to announce this highly strategic partnership with Temasek, a global investor that shares the same positive vision of Brazil’s potential (…) Together through this new platform, we will partner up with entrepreneurs and high-growth companies to support them in the long run to become champions in their sectors”, explained João Schmidt, CEO of Votorantim.
Temasek Holdings is a global investment company headquartered in Singapore, while Votorantim is a 103-year-old Brazilian investment company. Votorantim holds stakes in various sectors, such as financial services, renewable energy, building materials, real estate, agriculture, and more.
According to Temasek, through this partnership, the investment companies will join their industry skills, networks, and financial strength to “foster the future generations of Brazilian companies.” Temasek and Votorantim share an entrepreneurial DNA that focuses on long-term investments and sustainable value creation.
Matheus Villares, CEO of 23S Capital, shared the following insights:
“Our investment mandate will focus on themes associated with secular trends taking place in Brazil and globally, with an emphasis on new business models and technology across various sectors of the Brazilian economy. This strategy will position 23S Capital as a long-term partner to companies and entrepreneurs pursuing this journey.”