July 31, 2020 |
Brazilian food company Minerva intends to make the first investment through a newly-formed venture capital fund before the end of August as it prepares to spend a total of $30 million to acquire stakes in 10 startup companies related to its business, CFO Edison Ticle said in an interview with LatinFinance.
Minerva plans to use the fund to invest between $1 million and $5 million in small companies in agricultural technology (agtech), food retail and alternative proteins, Ticle said.
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Brazilian meatpacker plans to spend $30 mln for stakes in startups in agtech, food retail and alternative proteins, CFO says