Formed in partnership with accelerator Founders Club, the CVC announced its first investment in embedded finance platform Baasic.
Brazilian higher educational services provider Grupo Integrado has partnered with accelerator operator Founders Club and formed a corporate venture capital fund.
Founded in 1986, Grupo Integrado runs in-person and distance learning courses, covering undergraduate and postgraduate programmes.
The unnamed CVC initiative will invest in startups whose technologies can help innovate the group’s teaching and research models. Founders Club will supply its network and professional development services to help portfolio companies grow.
Grupo Integrado also announced its first investment of undisclosed size in open banking platform Baasic’s funding round, according to Finsiders Brasil.
Alongside the financial backing, Grupo Integrado took a board seat at Baasic to aid the latter’s strategic decisions as well as providing mentoring and consulting services.
The firm intends to back two to three more startups by the end of this year, Alan Sales da Fonseca (pictured right), chief financial officer of Grupo Integrado, told Gazeta do Povo.
“Seeking projects and partnerships that foster innovation is part of Grupo Integrado’s DNA,” said Grupo Integrado chief executive Jeferson Vinhas Ferreira (pictured left).
“We believe in Baasic’s great potential and are confident that, together, we will transform the field of education.” (Translated from Portuguese by Global Corporate Venturing)
Corporate Venture in Brasil 2024 – International Delegation to Brazil
Join us in São Paulo to make invaluable connections in Brazil and Latin America at this year’s Corporate Venture in Brasil 2024 (October 28th to 30th).
