# 23S Capital

23S Capital is a Private Equity based in Sao Paulo, Brazil.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Sao Paulo, Brazil
- **Region:** Latin America
- **Address:** Sao Paulo, Brazil
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** www.23scapital.com
- **LinkedIn:** https://www.linkedin.com/company/23s-capital

## Regulatory record

- **Reports private funds:** No

## About

23S Capital is an investment company focused on long-term and sustainable value creation. Its fund is the result of a strategic partnership between Votorantim and Temasek to pursue opportunities in Brazil. The firm supports portfolio companies in their growth journey across strategic positioning, governance, acquisitions, technology and people development.

## Sectors

- Various sectors of the Brazilian economy

## 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.

### 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.

## Related profiles

- [23 & Park](https://altss.com/profile/23-park)
- [245 Investments](https://altss.com/profile/245-investments)

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Last updated: 2026-08-11T15:05:57.154Z

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