Minerva invests in a venture capital company

Upload Ventures, a global venture capital firm, has just announced the entry of Minerva Foods into its growth fund. Minerva will become the fund’s second-largest investor, after TIM Brasil, which anchors the fund. The addition of Minerva Foods —Brazil’s leading beef exporter— to the Upload Growth Fund follows the participation of other strategic Brazilian and U.S. institutional investors.

Focused on investing in technology companies with potential to expand in Latin America and worldwide, Upload Ventures’ growth fund closed 2024 with three investments in its portfolio: Topsort, an AI-powered retail media platform; Simetrik, specializing in financial data reconciliation for major financial institutions and retailers; and Tractian, recently valued at R$ 4 billion, which offers predictive monitoring solutions for industrial assets, helping reduce costs and boost productivity. “With a strategy aligned with our vision of innovation, Upload stands out as the ideal institutional partner for Minerva. Their expertise in B2B solutions provides us with technological tools that enhance our value chain and sharpen our competitiveness,” said Minerva Foods CEO Fernando Galletti.

Up to 2024, Upload Ventures has invested in 30 Latin American startups, bolstering its position as one of the region’s most prominent venture capital managers.