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23S Capital
23S Capital is an investment company focused on long-term value creation. It has made two investments, including a Series C investment in ASAAS on October 08,...
23S Capital
23S Capital is an investment company focused on long-term value creation. It has made two investments, including a Series C investment in ASAAS on October 08, 2024.
General information
Firm type
Private Equity
Year founded
2022
Location
Region
Latin America
Country
Brazil
City
Sao Paulo
Corporate office
Sao Paulo, Brazil
Frequently asked questions
What investment stage does 23S Capital target?
The firm focuses on growth equity, specifically expansion and late-stage rounds. It avoids early-stage venture capital and buyouts, concentrating instead on profitable, founder-led businesses in Brazil that require capital to scale.
How does 23S Capital structure its investments?
23S Capital pursues control or significant minority positions that provide board influence. The firm leads rounds for portfolio companies, a posture that requires concentrated capital deployment and deep engagement with management teams.
Is 23S Capital a multi-family office or a traditional asset manager?
23S Capital operates as a dedicated private equity firm, not a multi-family office. Unlike Brazilian multi-family offices that blend credit, real estate, and listed equities, 23S Capital runs a single-strategy growth equity mandate.
Does 23S Capital invest outside of Brazil?
The firm's investment activity is concentrated in Brazil, with deal sourcing centered on São Paulo and Rio de Janeiro. There is no public evidence of portfolio companies outside the country.
What differentiates 23S Capital from other Brazilian private equity managers?
The firm's narrow focus on a single growth equity strategy sets it apart from larger Brazilian peers that run multi-asset platforms. Without credit, real estate, or listed equity divisions, the firm's resource allocation and investment committee attention remain undiluted.
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