Business
Patria Investments Announces Expansion into Venture Capital
Patria expands its Private Equity vertical by acquiring Igah Ventures, a pioneering venture capital firm in Latin America, to complement its existing flagship
About this update from Patria Investments Limited
[{"type":"text","content":"Patria expands its Private Equity vertical by acquiring Igah Ventures, a pioneering venture capital firm in Latin America, to complement its existing flagship and growth equity strategies\nGRAND CAYMAN, Cayman Islands, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Patria Investments (“Patria”) (NASDAQ: PAX), a global alternative asset manager and industry leader in Latin America, announced today the launch of a new Venture Capital strategy, anchored by the acquisition of Igah Ventures, one of the pioneers of the sector in Latin America. By expanding its platform to include venture capital, Patria now offers products and solutions throughout the equity investment cycle to address all stages of growth. Igah’s business complements Patria’s existing Private Equity and Growth Equity strategies, which are focused on relatively mature companies, by adding investment expertise in startups and early-stage companies. For Igah, this move allows it to further accelerate growth, leveraging the scale of Patria's platform and client base, as well as deep industry knowledge in various areas of the economy. In addition to combining market experience and expanding the platform, this transaction reflects an alignment of like-minded culture centered on entrepreneurial spirit. Igah demonstrates a track record of attractive investment performance in its first three fund vintages, resulting in consistent strong scaling of AUM over the last 10 years. Ricardo Scavazza, partner and CIO (Chief Investment Officer) of Patria's Private Equity platform said: “Patria’s goal is to be a complete platform for alternative investments in the region, delivering consistent strong returns to investors at scale. We see Igah as an ideal partner to explore the venture capital space, focused on seed and A/B series investments. This is the fastest growing segment of private investments in recent years in Latin America, and they are a leading player with one of the best track records. Success in our business is about attracting the best people, and with Igah we bring to Patria a very talented and seasoned VC team. I’m very excited to join forces with Pedro and his team as we look forward to our next phase of growth.” Igah Ventures has been operating since 2013 with three funds raised from local and international investors, having contributed to startups such as Infracommerce, Contabili...