Contributions will be used to hire more technology people. Photo: Unsplash.

Bossanova Investimentos plans to invest R$ 5 million in around 10 companies that work with cryptocurrencies. His first investment has just taken place, when he made a pre-seed investment of R$ 2 million in Biscoint, an intermediary between brokers and crypto users, according to information in the Value Pipeline.

The investment took place through Grupo Primo, which is part of the Primo Rico financial education platform. The partners are founder Thiago Nigro and XP, which already had crypto broker. The group and Bossanova have a committee. The investment fund was convinced by Bruno Perini, a partner at Primo.

The investment fund’s CEO, João Kleber, stated that he was resistant to the sector and did not have an investment thesis, that is, parameters to contribute resources to the area. In Biscoint he not only invested, but went well beyond the amounts he usually pays, up to R$ 500 thousand. That’s because I wanted to make the entire contribution alone, without sharing it with other funds. And it has even committed to entering Biscoint’s Series A investment round.

A Bossanova makes micro venture capital, therefore, enters the early stages of startups. On its website, it claims to be the most active venture capital fund in Latin America, with 400 investees.

At Biscoint, the user opens an account and can, for example, compare bitcoin prices at different brokers and crypto exchanges abroad, such as Coinbase Pro, Bitstamp and Bitfinex. It also allows you to compare dollar, euro and real exchange prices by bitcoin.

With the investment, investors valued Biscoint at R$ 26.6 million, five times more than in the angel round. The company’s plan is to double the team, focusing on technology people and investing in portfolios. The startup has 220 thousand users and a monthly average of 80 thousand operations. The forecast is to earn R$ 5 million this year, according to co-founder and CEO Jonathas Cariijo. The other founder is Thiago Borges, programmer.