Sources: 
Itaú Unibanco has officially launched Itaú Ventures, a corporate venture capital (CVC) unit backed by a R$500 million ($91 million) fund aimed at investing in innovative startups across Brazil's fintech and AI sectors.
The fund allocates R$250 million ($45 million) specifically for new investments, signaling Itaú's commitment to fostering technological innovation in areas such as payments, wealth management, insurance, credit, and artificial intelligence.
This new CVC unit is a strategic evolution following Itaú's acquisition of Kinea Ventures, an investment firm that brought eight portfolio companies into the fold, including Liqi, a digital assets fintech, and Kanastra, a provider of structured fund services and technology solutions.
"Itaú Ventures will work closely with the bank's core business units to target areas of innovation relevant to the bank," highlighting a collaborative approach to integrating startup innovation with established financial services.
The launch of Itaú Ventures reflects a growing trend among traditional banks to invest directly in emerging technologies and startups to stay competitive in the rapidly evolving financial landscape.
Key stats:- Total fund size: R$500 million ($91 million)
- New investments earmarked: R$250 million ($45 million)
- Portfolio companies acquired from Kinea Ventures: 8
By focusing on AI and fintech startups, Itaú Ventures aims to accelerate digital transformation within Brazil's financial sector, leveraging both capital and strategic partnerships to drive growth and innovation.
Itaú Unibanco has launched Itaú Ventures, a corporate venture capital unit with a $91 million fund to back AI and fintech startups in Brazil. The fund, partly sourced from the acquisition of Kinea Ventures, will invest in payments, wealth management, insurance, credit, and AI sectors.
