Oria Capital
Oria Capital is a São Paulo-based growth equity firm founded in 2009 that invests growth-stage capital in B2B software and technology companies across Latin America, managing over R$ 1.5 billion across three funds and serving LPs with active, ESG-led ownership.
- Company typePrivate
- Founded2009
- HeadquartersSão Paulo, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Oria Capital does
Oria Capital is a São Paulo-based growth equity investment firm founded in 2009 by Jorge Steffens and Paulo Caputo, focused on B2B software and technology companies across Latin America, primarily Brazil. The firm invests growth-stage capital into companies with recurring revenue, mission-critical solutions, and execution-capable teams, holding positions for 10-year fund durations with co-investment sleeves, and applies an active ownership model including strategic planning, governance improvements, and ESG implementation. It currently manages over R$ 1.5 billion in assets under management across three vehicles (Oria Tech I, Oria Tech II, and Oria Tech III, the last closed at R$ 500 million in April 2021), with 40+ technology transactions completed including the landmark September 2021 Nasdaq IPO of portfolio company Zenvia (ticker ZENV).
Oria differentiates itself through deep operating pedigree: the founding partners led Datasul's 2006 IPO process and held senior roles at TOTVS and other Latin American tech leaders, enabling 2-3 year pre-investment relationship building and proprietary deal sourcing rather than auction-based entry. The firm is the first B2B technology-focused private equity company globally to achieve B Corp certification (score 90.4, July 2020) and is a signatory to the UN Principles for Responsible Investment. Its portfolio spans 17+ named companies across HR technology (Gupy), media intelligence (Knewin), CPaaS (Zenvia), digital banking (Technisys), healthcare IT (Pixeon, ToLife), cybersecurity (Blockbit), construction tech (Ambar), ESG/recycling (Eureciclo), and others, collectively employing more than 2,300 people and reaching over 100 million consumers.
The firm's revenue model follows traditional private equity economics: recurring management fees on committed and deployed capital across its fund vehicles, plus carried interest on successful exits such as IPOs, M&As, and follow-on transactions. Distribution is direct and relationship-driven rather than marketing-led, with deal flow sourced from founder reputation, sector knowledge, and proprietary networks. The team of 11-50 investment professionals is supplemented by a Head of Investor Relations and a Head of Corporate/Middle and Back Office, with the firm operating under the regulatory oversight of Brazil's CVM and as a member of ANBIMA, ABVCAP, and EMPEA.
Oria Capital firmographics
Firmographics- Name
- Oria Capital
- Legal name
- Oria Capital
- Website
- https://oriacapital.com.br
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Oria Capital is a São Paulo-based growth equity firm founded in 2009 that invests growth-stage capital in B2B software and technology companies across Latin America, managing over R$ 1.5 billion across three funds and serving LPs with active, ESG-led ownership.
- Ownership category
- akta.pro rank
Oria Capital industry classification
Industry- Product category
- Growth Equity / Private Equity Investment Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL)
- akta.pro secondary industry
- Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)
Keywords
Where Oria Capital is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Oria Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund Management Fees: Traditional private equity/growth equity model with management fees on committed capital under management, plus carried interest (performance fees) on successful exits.
- Carried Interest / Performance Fees: The firm earns carried interest on fund returns when investments are exited through IPOs, M&As, or follow-on transactions. Oria has led over 40 technology transactions including IPOs, follow-ons, and M&As.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Oria Tech III - Third growth equity fund |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Oria Capital product offering
Product offeringCore offering
Oria Capital is a growth equity investment firm that provides long-term capital and operational expertise to B2B software and technology companies in growth stage across Latin America (primarily Brazil). The firm manages multiple funds (Oria Tech I, II, III) totaling R$ 1.5 billion+ in assets under management, taking active ownership positions and working closely with portfolio companies on strategic planning, governance, and ESG implementation.
Product overview
Oria Capital is a growth equity investment firm, not a software product company. Its offering consists of investment funds (Oria Tech I, Oria Tech III, and co-investment vehicles) that provide capital and operational expertise to B2B software companies. The firm also offers an ESG investment framework as part of its value-add approach to portfolio companies. The investment strategy focuses on companies with scalable business models, recurring revenue, and potential to become market leaders in Latin America.
Differentiator
Problem solved
Functional benefit
Products and services
- Oria Tech I
- Oria Tech III
- Oria Zenvia Co-Investment
- Growth Equity Investment Strategy
- ESG Investment Framework
Quantifiable outcome
- 30% average portfolio company growth in 2020
- +2 more outcomes
Companies that use Oria Capital
Customer profileNamed customers17 records
Segments4 records
Ideal customer profiles2 records
Oria Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Oria Capital partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, regulatory and industry.
- B LabcoreB Lab is a non-profit organization that administers B Corp certification. Oria Capital became the first B2B technology-focused private equity firm globally to receive B Corp certification in July 2020, achieving a score of 90.4. This certification demonstrates commitment to ESG practices and responsible business standards.
- United Nations PRI (Principles for Responsible Investment)coreOria Capital is a signatory to the UN Principles for Responsible Investment, committing to incorporate ESG factors into investment practices.
- CVM (Comissão de Valores Mobiliários)regulatoryBrazilian Securities Commission - regulatory oversight body for the fund management industry.
- ANBIMAindustryBrazilian Financial and Capital Markets Investors Association - industry association for investment funds.
- ABVCAPindustryBrazilian Private Equity and Venture Capital Association.
- EMPEAindustryEmerging Markets Private Equity Association - industry association for emerging markets private equity.
Scale indicators10 records
Recent moves7 records
Expansion highlights5 records
Oria Capital competitors and assessment
Company assessmentEmerging players
- Atlantico: Latin American growth equity firm focused on tech-enabled businesses across the region. Comparable in geography (pan-LatAm) and growth-stage B2B tech investing, though with a broader cross-border orientation than Oria's Brazil-centric base.
- Valor Capital Group: US-LatAm cross-border venture and growth equity firm focused on technology companies bridging the two regions. Comparable to Oria in LatAm tech focus and B2B SaaS orientation, with complementary cross-border angle.
Direct peers
- Monashees: Brazilian venture and growth equity firm investing across stages in Latin American tech startups. Comparable to Oria in stage focus (early to growth), sector (B2B tech/SaaS), and geography, with similar portfolio company profiles in HR tech, fintech, and healthcare.
- Dynamo Capital: Brazilian private equity firm with a long history of mid-market growth and buyout investments in Brazil, including tech-enabled businesses. Comparable in Brazilian geography and growth-equity approach, though a broader sector focus than Oria's B2B software specialization.
- Kaszek Ventures: Argentina-based venture and growth equity firm focused on Latin American technology companies, founded by former MercadoLibre executives. Directly comparable to Oria in thesis (B2B/tech focus, operator-investor model) and geography (LatAm focus with Brazil exposure).
- Riverwood Capital: Growth equity firm focused on technology and tech-enabled businesses across the Americas, with significant Brazil and LatAm exposure. Comparable in growth-stage B2B tech thesis and LatAm geography, with comparable fund sizes relative to Oria Tech III.
- Confrapar: Brazilian private equity and venture capital firm with a multi-sector mandate and recent focus on technology investments. Comparable to Oria in Brazilian geography, growth-stage approach, and B2B software deal exposure.
- GP Capital Partners: Brazilian growth equity firm targeting mid-market and growth-stage Brazilian companies, including tech-enabled businesses. Comparable to Oria in geography (Brazil-focused) and growth-stage investing approach across multiple sectors.
Broad incumbents
- General Atlantic: Global growth equity firm with significant Brazil and LatAm tech investments (e.g., StoneCo, Nubank era investments). Comparable to Oria in growth-stage B2B/tech thesis and LatAm focus, but operates as a multi-strategy incumbent with R$ billions AUM, well beyond Oria's scale.
- SoftBank LatAm Funds: LatAm-focused tech investment fund backed by SoftBank Group, deploying multibillion-dollar capital into Brazilian and Mexican tech companies. Comparable in LatAm tech focus but vastly larger scale and write check sizes that exceed Oria's typical ticket.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Oria Capital social profiles
Digital presenceOria Capital compliance and trust
Trust signalCompliance2 records
Oria Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Oria Capital leadership team
Management profileNumber of profiles
Profiles9 records
Oria Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Oria Capital M&A and investment
M&A and investmentM&A
Investments24 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Oria Capital
What does Oria Capital do?
Oria Capital is a growth equity investment firm that provides long-term capital and operational expertise to B2B software and technology companies in growth stage across Latin America (primarily Brazil). The firm manages multiple funds (Oria Tech I, II, III) totaling R$ 1.5 billion+ in assets under management, taking active ownership positions and working closely with portfolio companies on strategic planning, governance, and ESG implementation.
Is Oria Capital a public or private company?
Oria Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Oria Capital founded?
Oria Capital was founded in 2009. It employs 11 to 50 people.
Where is Oria Capital based?
Oria Capital is headquartered in São Paulo, Brazil, in the Latin America region.
How does Oria Capital make money?
Two revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest / Performance Fees.
Who are Oria Capital's main competitors?
Emerging players on record are Atlantico and Valor Capital Group. Direct peers are Monashees, Dynamo Capital, Kaszek Ventures, Riverwood Capital, Confrapar and GP Capital Partners. Broad incumbents are General Atlantic and SoftBank LatAm Funds.
Does Oria Capital have an API?
No public API is recorded for Oria Capital.
What industry is Oria Capital in?
Oria Capital's product category is Growth Equity / Private Equity Investment Management. Its primary akta.pro industry code is FSAAAGAL, Institutional Separate Accounts & SMAs (Mandates), with a secondary code of FSAAACAG, Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions). Its NAICS code is 52394 and its SIC code is 6282.