March 6, 2020
Brazilian conglomerate Ultrapar plans to raise BRL150 million ($32.3 million) within five years for fund to invest in startups, according to a presentation posted to its website on Thursday.
According to the presentation, the fund will give Ultrapar greater access to "disruptive technologies" and result in roughly BRL90 billion in net revenues.
Ultrapar plans to reach 35 million consumers at approximately 10,000 points of sale through the investments it makes with the fund, called Ultrapar Ventu
Brazilian conglomerate aims to raise $32 mln for investments within five years