Brazil-based web services company Locaweb has set up a corporate venture capital program to invest BRL100m ($17.9m) over four years.
Local venture capital-as-a-service provider Valetec Capital Investments will manage the investments that connect to Locaweb’s e-commerce ecosystem. (Peter Seiffert, founder of Valetec, spoke at the prior GCV webinar alongside Apex-Brasil as part of the annual Corporate Venture in Brasil conference series.)
“In addition to the capital contribution involved in this type of transaction, these startups see in Locaweb’s ecosystem of solutions a partner capable of helping them with guidance, experience and, of course, a source of possible new customers, since the group as a whole currently has a base of more than 600,000 customers across all companies in the ecosystem,” Locaweb said in a statement to shareholders.
Previously, Locaweb has acquired startups, such as Bagy, Octadesk, Bling, Pagcerto, Social Miner, Etus, Vindi, Melhor Envio, Connectplug, Samurai, Credisfera, Dooca Commerce, and Squid.
