Brazil-based steel producer Companhia Siderúrgica Nacional has launched a R$30m ($5.6m) corporate venturing fund called CSN Inova Ventures.
CSN Inova Ventures will invest R$2m to R$5m in each portfolio company as part of a shift by the company to a “more environmental, social and economical sustainable future”.
The corporate founded its Inova subsidiary in 2018 under Felipe Spiri. It hired Gabriela Toribio in October the same year to help its move into venture capital, after her role as an innovation manager at industrial conglomerate Votorantim.
