Updated:
Natura Ventures
Livia Brando and Gilberto Ribeiro lead Natura Ventures, the CVC of Natura &Co Latam, investing seed to Series A in startups from São Paulo.
Natura Ventures
Natura Ventures operates as the corporate venture capital fund of Natura &Co Latam, a division of the global beauty conglomerate. The fund is managed in partnership with VOX Capital, a Brazilian impact asset manager. Investment decisions are led by VOX partners Livia Brando, Gilberto Ribeiro, and Thomas Moraes, bringing a specialized impact-investing framework to Natura's corporate innovation goals. While the fund's founding date is not publicly specified, it builds on the parent company's two-decade history of open-innovation collaborations. The fund deploys minority capital into startups aligned to four investment verticals: regeneration and circularity, solutions for beauty consultants and professionals, end-customer experience, and enabling technologies. These verticals translate into sub-verticals that include carbon-tech solutions, sustainable materials, omnichannel technologies, digital sales tools, and GenAI. Deal stage focuses on pre-seed, seed, and early Series A companies. The geographic mandate prioritizes Latin America and the United States. Portfolio startups gain potential integration with Natura's extensive physical and human infrastructure, spanning more than 1.7 million beauty consultants and 446 stores across 24 Brazilian states. The team operates from São Paulo, with access to Natura's innovation lab in Cajamar — described as the largest cosmetics R&D center in Latin America. The fund's total deployment is undisclosed. In addition to operational capital, the fund provides portfolio companies with R&D collaboration opportunities, strategic guidance, and exposure to a massive omnichannel distribution engine. There are no disclosed parallel vehicles or philanthropic structures operating under the Ventures brand. Natura Ventures differs from a standard family-office vehicle by functioning as a corporate innovation engine rather than a steward of personal wealth. Its investment activity is directly tethered to the strategic priorities of a publicly traded multinational. This structure means portfolio companies are evaluated not just on financial return but on their capacity to accelerate Natura's sustainability commitments — including climate crisis response, Amazon protection, gender parity, and circularity — and to integrate into its commercial ecosystem.
General information
Firm type
Family Office
Year founded
—
AUM
Undisclosed
Location
Region
Latin America
Country
Brazil
City
São Paulo
Corporate office
São Paulo, Brazil
Principals
Livia Brando
Partner and Investment Director at VOX Capital
Gilberto Ribeiro
Partner and CIO at VOX Capital
Thomas Moraes
Investment Manager at VOX Capital
Sector focus
Frequently asked questions
Who runs investment decisions at Natura Ventures?
Natura Ventures is managed in partnership with VOX Capital, a Brazilian impact asset manager. The core investment team includes Partner and Investment Director Livia Brando, Partner and CIO Gilberto Ribeiro, and Investment Manager Thomas Moraes. VOX Capital's team handles the investment process, from initial analysis through deal execution, on behalf of the fund. This structure embeds VOX's impact-investing expertise directly into Natura's corporate venture activity.
How does Natura Ventures source proprietary deal flow?
The fund accepts inbound startup applications through its website, which trigger an analysis process. Beyond this public channel, sourcing is augmented by the parent company's massive commercial network of over 1.7 million beauty consultants, 446 physical stores, and an established omnichannel presence across Brazil. The partnership with VOX Capital also provides access to the Brazilian impact-startup ecosystem.
What investment stages does Natura Ventures target?
The fund concentrates on validated solutions with initial sales traction, focusing on seed-stage rounds, including pre-seed and seed. It will also consider slightly more mature startups up to Series A stages, provided the opportunity aligns with its strategic investment mandate.
Which sectors does Natura Ventures explicitly focus on?
Investments are organized into four verticals: regeneration and circularity, solutions for beauty consultants, end-customer experience, and enabling technologies such as GenAI, Big Data, and cybersecurity. Sub-verticals include carbon-tech, sustainable materials, waste management, omnichannel tech, digital sales tools, and financial services for the direct-sales channel.
How is Natura Ventures related to Natura &Co?
Natura Ventures is the dedicated Corporate Venture Capital fund of Natura &Co Latam. It is not structured as a family office but as a strategic investment arm of the publicly traded company. The fund leverages Natura's R&D center in Cajamar, supply chain, and distribution network to support and integrate portfolio companies.
What is Natura Ventures' geographic mandate?
The fund's primary geographic focus covers Latin America and the United States. Portfolio companies can be based in either region, and the fund also has a stated ambition to direct capital toward startups led by underrepresented founders and those based outside Brazil's traditional Southeastern startup hubs.
Does Natura Ventures co-invest alongside external GPs?
The fund's public materials position it as making minority investments and partnering with portfolio companies. While there is no explicit mention of a co-investment program with other institutional venture capital firms, its management by VOX Capital, which operates other corporate venture funds, suggests an existing network for syndication when strategically beneficial.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: