Brazil-based IT consultancy Grupo Meta has formed a R$20m ($3.5m) corporate venturing arm dubbed Meta Ventures to target software-as-a-service (SaaS) technology developers, Startupi reported on Friday.
Founded in 1990, Meta advises customers in areas including software development, IT outsourcing and technology strategy. It has been conducting corporate venturing since 2019, having invested in big data, internet-of-things and e-commerce startups.
Meta Ventures will concentrate on SaaS tools applied in business-to-business and business-to-business-to-consumer models that have synergistic potential with its corporate parent.
The unit has launched a startup challenge, Bring Your SaaS, which is open for registration until November 30. Selected teams will each have access to mentoring, an immersive training scheme in Toronto, Canada and up to R$1.5m in funding.
Cláudio Carrara, vice-president and founder of Meta, said: “We want to recognise SaaS startups and offer our expertise in this area to take them to new heights.
“We are looking for strategic partners who, in addition to receiving investment, will work in synergy with Meta to carry out new business, bring innovation and new digitisation solutions.” (Translated from Portuguese by Global Corporate Venturing)
