Fund, Investor & Acquisition Network
- 6 acquisitions
- 22 investors
- 4 search funds
Inner ring: investors. Middle ring: funds and search funds, sized by how many investors back them. Outer ring: the acquisitions they made — click any node to highlight its network.
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- Fund / search fund
- Strategic acquirer
- Acquired company
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- backing investors
Who is buying companies in Brazil?
WhoBoughtWho tracks 6 acquisitions of companies in Brazil (2017–2026), made by 4 buyers — private equity funds, search funds and strategic acquirers — backed by 22 investors. The most active sectors are Industrial automation and engineering services, Forklift and equipment rental, Business Services, Computer Leasing/Resale, IT SaaS, Logistics.
Most active acquirers in Brazil
- Alza Capital Partners (investor) — 1 acquisition: IS Entriga (2017).
- JB46 (investor) — 1 acquisition: APS (2021).
- Kinase Capital (search fund) — 1 acquisition: Stoque (2018).
- LTP Capital (search fund) — 1 acquisition: ABC Empilhadeiras (2026, an EV estimated at US$20-25M).
- Minerva Capital (search fund) — 1 acquisition: TSE Engenharia e Automação (2026, Not disclosed).
- Voke (search fund) — 1 acquisition: Agasus (2019).
Browse the full list (26 funds/investors, 6 acquisitions in Brazil)
The graph above is the fast way to explore this — this plain list covers the same ground for anyone who'd rather scan or search text. Each name links to its own page centered on that entity.
- 9T Capital — Investor
- AIJ Global — Investor, Hong Kong
Category A search fund investor · Hong Kong · founded 2017 · 90 search fund investments, 31 international; one of the most active non-US search fund investors.
- Albira — Investor
- Alza Capital Partners — Investor
- Acquired IS Entriga in 2017 (Logistics), Brazil
- Ambit Partners — Investor, Cape Town, South Africa
Category A search fund investor · Cape Town, South Africa · active in 31 countries, 74 search funds backed; check size $400K-$2M, emerging-market focus.
- BM Holdings — Investor
- Cabiedes Capital — Investor
- Cabiedes Inversiones — Investor
- Cromwell Harbor — Investor
- Forti — Investor
- Forti Search Fund Partners — Investor
- JB46 — Investor, Spain
Category A search fund investor · Spain · 100 backed search funds, 32 portfolio companies (5 international); active in Brazil and Mexico, Business Services/Healthcare/Distribution.
- Acquired APS in 2021 (Business Services), Brazil. PE-backed deal.
- Kinase Capital — Search fund · Backed by AIJ Global
- Acquired Stoque in 2018 (IT SaaS), Brazil. First international investment by AIJ Global, via Kinase Capital (supported by investors in South Africa, Brazil, Spain, USA).
- KVIV Ventures — Investor
- KYR Capital — Investor
- LTP Capital — Search fund · Backed by 9T Capital, AIJ Global, Albira, Ambit Partners, BM Holdings, Cabiedes Inversiones, Forti Search Fund Partners, KVIV Ventures, KYR Capital, Mazal, Novidam, Paltus Capital, SCIPIO Holding Group, TMB3 Fund, Vonzeo Capital, Forti
Search fund vehicle. Acquired ABC Empilhadeiras (Forklift and equipment rental) in Brazil, announced 2026-02-10.
- Acquired ABC Empilhadeiras in 2026 for an EV estimated at US$20-25M (Forklift and equipment rental), Brazil. Acquired by LTP Capital (Marcos Noll Barboza). Backed by 9T Capital, AIJ Global, Albira, Ambit Partners, BM Holdings, Cabiedes Inversiones, Forti Search Fund Partners, KVIV Ventures, KYR Capital, Mazal, Novidam, Paltus Capital, Scipio Holding, TMB3 Fund, Vonzeo Capital. Source: https://searchfundsnews.com/ltp-capital-acquires-abc-empilhadeiras-in-brazil/
- Mazal — Investor
- Minerva Capital — Search fund · Backed by Spectra Investments, KYR Capital, TMB3 Fund, Solum Capital, Cabiedes Capital, Cromwell Harbor
Search fund vehicle. Acquired TSE Engenharia e Automação (Industrial automation and engineering services) in Brazil, announced Fri Jun 19 2026 00:00:00 GMT+0000 (Coordinated Universal Time).
- Acquired TSE Engenharia e Automação in 2026 for Not disclosed (Industrial automation and engineering services), Brazil. Acquired by Minerva Capital. Backed by Spectra Investments, KYR Capital, TMB3 Fund, Solum Capital, Cabiedes Capital, Cromwell Harbor. Source: https://searchfundsnews.com/minerva-capital-enters-into-tse-engenharia-e-automacao/
- Novidam — Investor
- Paltus Capital — Investor
- SCIPIO Holding Group — Investor
- Solum Capital — Investor
- Spectra Investments — Investor, Brazil
Search fund investor (Category C) · Brazil · founded 2017 · ~$1.23B AUM, 700+ investee companies; LATAM-focused, prefers mid-market over startups.
- TMB3 Fund — Investor
- Voke — Search fund · Backed by Spectra Investments
- Acquired Agasus in 2019 (Computer Leasing/Resale), Brazil. Voke's searchers invested in Agasus; revenue grew from ~R$45M to ~R$543M.
- Vonzeo Capital — Investor, Vancouver, Canada
Search fund investor (Category B) · Vancouver, Canada · founded 2017, first search fund investor outside the US; $40M fund across 13 non-US countries, check size $500K-$1M.