The computer giant put R$7 million into Cedro Capital’s fund.
Positivo, a Brazilian manufacturer of PCs and cell phones, invested R$ 7 million in the GovTech Fund, founded by Cedro Capital, one of the largest investment funds in the Midwest, and the manager KPTL.
Created last year, the fund has capital of R$ 200 million and bets on startups with technology for the government area.
He works in ten public verticals: health, education, security, housing and urbanism, infrastructure and mobility, sanitation, environment, civil defense, smart cities, legal and regulatory, and citizenship and public management.
In the next three years, as a strategic investor, Positivo’s contribution may reach up to R$ 40 million, besides helping with market knowledge and supporting the startups’ selection and acceleration process.
“As a strategic investor, we expect to have a very active presence throughout the fund’s journey. It starts by sharing investment opportunities, supporting proof of concept, as well as mentoring and accelerating the invested govtechs,” says Graciete Lima, responsible for Positivo Tecnologia’s Corporate Venture Capital (CVC) Program.
According to Lima, Positivo’s focus is on the education, security, and public management verticals, with which it has more connection.
Investing in govtechs is a natural movement for Positivo, which has always had a strong presence in government as a supplier of equipment for the educational network, besides the public administration itself.
In 2021, Positivo closed the year with gross revenues of R$4 billion, a 54% growth and a result of the kind the Brazilian hardware manufacturer has not seen for a long time, driven in part by the high demand for computers during the coronavirus pandemic.
Cedro operates in the Midwest, Tocantins and Minas Gerais, and has already invested R$62 million in 20 startups in its first fund opened in 2016, with a more generalist focus.
KPTL, meanwhile, was born from the union of A5 and Inseed in 2019, and has R$1.2 billion of assets under management. There are more than 60 startups in its portfolio, including Agrotools, Blu365, and Magnamed.