Canvas Capital
Canvas Capital is a Brazilian independent investment manager operating macro multi-strategy funds focused on local interest rates and FX, distributing through nine Brazilian financial platforms plus two pension channels for retail and professional investors.
- Company typePrivate
- Founded2016
- HeadquartersBrasil, Brazil
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Canvas Capital does
Canvas Capital S.A. is a Brazilian independent investment management firm headquartered in Vila Madalena, São Paulo, regulated by the CVM and ANBIMA. The firm was formed in 2016 through the merger of Canvas Capital (originally Peninsula Investimentos, founded 2012) and Advis Investimentos (founded 2007), and it specializes in liquid macro multi-strategy investing with the majority of risk concentrated in local Brazilian interest rate and FX markets.
Canvas operates three branded funds under a single Macro strategy: the flagship Canvas Enduro fund, which targets general investors with a R$20,000 minimum and charges a 1.95–2.45% administration fee plus a 20% performance fee over the CDI benchmark; and two pension-platform variants — Canvas Enduro Icatu Prev and Canvas Enduro Itaú Prev — aimed at professional investors with approximately 2% annual administration fees and no performance fee. Distribution is conducted entirely through third-party Brazilian financial platforms — XP, Andbank, Guide, Ágora, Banco Daycoval, PicPay, Banco Safra, Banco Itaú, Genial, and the Icatu Seguros pension platform — with no direct retail sales channel.
Revenue is generated through recurring subscription-style management and administration fees on assets under management, supplemented by performance fees on the flagship fund. The investment team is led by CEO and Chief Economist Camila de Faria Lima (formerly of Brevan Howard and Banco Santander Brasil), CIO Macro Eduardo Bodra (formerly of Itaú BBA, managing the strategy since 2008), Macro Manager Guilherme Gaertner (formerly of Itaú BBA, Unibanco, and HSBC), and Director of Operations and Risk Leandro Souza. No proprietary technology platform, AI/ML systems, or direct client onboarding infrastructure is disclosed; operational functions rely on established partners (BNY Mellon DTVM and Intrag DTVM) for fund administration.
Canvas Capital firmographics
Firmographics- Name
- Canvas Capital
- Legal name
- Canvas Capital S.A.
- Website
- https://canvascapital.com.br
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Canvas Capital is a Brazilian independent investment manager operating macro multi-strategy funds focused on local interest rates and FX, distributing through nine Brazilian financial platforms plus two pension channels for retail and professional investors.
- Ownership category
- akta.pro rank
Canvas Capital industry classification
Industry- Product category
- Macro Asset Management
- NAICS
- Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)
Keywords
Where Canvas Capital is headquartered
LocationHeadquarters
- HQ city
- Brasil
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Canvas Capital business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Others
Revenue model
- Management and Administration Fees: Canvas Capital earns administration fees on its managed funds. For Canvas Enduro, the administration fee ranges from 1.95% to 2.45% annually. For pension fund variants (Icatu Prev and Itaú Prev), administration fees are approximately 2% annually.
- Performance Fees: The Canvas Enduro fund charges a performance fee of 20% on returns exceeding 100% of the CDI benchmark. The pension fund variants do not charge performance fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Canvas Enduro - General Investors Fund |
| Subscription | Annual | Canvas Enduro Icatu Prev - Pension Fund |
| Subscription | Annual | Canvas Enduro Itaú Prev - Pension Fund |
Go-to-market motion1 record
Distribution channels9 records
Marketing channels1 record
Canvas Capital product offering
Product offeringCore offering
Canvas Capital is an independent Brazilian asset manager that manages liquid-investment multimercado (multi-strategy) funds under a Macro strategy focused on local Brazilian market opportunities, primarily in interest rate and FX asset classes. The firm's product portfolio is built around the Canvas Enduro fund family, comprising the general-investor Canvas Enduro fund and two pension-focused variants (Canvas Enduro Icatu Prev and Canvas Enduro Itaú Prev), all run by the same investment team and distributed exclusively through third-party financial platforms.
Product overview
Canvas Capital is an independent liquid investments manager offering a unified product portfolio centered on the Macro multi-strategy approach. The core offering consists of three funds: Canvas Enduro (the main retail-oriented macro fund with local interest rate and FX risk focus), and two pension-focused variants—Canvas Enduro Icatu Prev and Canvas Enduro Itaú Prev—which are distributed through their respective pension platform partners. All products operate under the same macro strategy managed by the same investment team.
Differentiator
Problem solved
Functional benefit
Brands
- Canvas Enduro: Main multimarket macro fund focusing on local market with risk concentrated in interest rates and FX. Available on multiple platforms including XP, Andbank, Guide, Agora, Daycoval, PicPay, Banco Safra, Banco Itau, and Genial Investimentos.
- Canvas Enduro Icatu Prev
- Canvas Enduro Itaú Prev
Products and services
- Canvas Enduro A macro multi-strategy fund focused on liquid markets, with the majority of risk concentrated in local Brazilian interest rate and FX asset classes. Targeted at general investors with a minimum initial investment of R$20,000, administration fee of 1.95%-2.45% p.a., and 20% performance fee over the CDI benchmark.
- Canvas Enduro Icatu Prev Pension-focused multi-strategy fund within the Canvas Enduro strategy, distributed via the Icatu Seguros pension platform. Targeted at professional investors with a R$1,000 minimum initial investment and 2% annual administration fee; no performance fee. ANBIMA classification: Multimercado Livre.
- Canvas Enduro Itaú Prev Pension-focused multi-strategy fund within the Canvas Enduro strategy, distributed through Itaú pension plan platforms. Targeted at professional investors with a R$10 minimum initial investment and 2.02% annual administration fee; no performance fee.
Companies that use Canvas Capital
Customer profileSegments2 records
Ideal customer profiles2 records
Canvas Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Canvas Capital partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- BNY Mellon Serviços Financeiros DTVMcoreBNY Mellon serves as the fund administrator for Canvas Enduro, providing fund administration services including NAV calculation, shareholder registry, and regulatory reporting. This is a critical operational partnership for fund operations.
- Intrag DTVMcoreIntrag DTVM serves as the administrator for the Canvas Enduro Icatu Prev pension fund, providing fund administration services within the Icatu pension plan infrastructure.
- Icatu SeguroscoreIcatu Seguros operates the pension plan platform (compraprevidencia.icatuseguros.com.br) through which Canvas Enduro Icatu Prev is distributed to pension plan investors.
Recent moves10 records
Expansion highlights4 records
Canvas Capital competitors and assessment
Company assessmentBroad incumbents
- Ibiuna Investimentos: Ibiuna is a leading Brazilian independent macro manager with multi-billion AUM running multi-strategy books. Comparable to Canvas's Canvas Enduro in strategy (macro / liquid markets) and local-Brazil focus, with stronger institutional brand.
- Gávea Investimentos: Gávea is a long-established Brazilian alternative asset manager (now affiliated with JPMorgan) with macro and multi-strategy capabilities. Comparable to Canvas as a Brazilian-rooted macro/liquid manager; broader strategy mix (PE, credit) and now larger institutional backing.
- Verde Asset Management: Verde is one of Brazil's largest independent macro multi-strategy asset managers with multi-billion AUM and broad distribution. Comparable to Canvas as a Brazil-focused liquid macro manager, but at materially larger scale and brand recognition.
- Safra Asset Management: Safra runs a sizable Brazilian asset management business distributed via Banco Safra (a Canvas distribution partner) with multi-strategy and fixed-income capabilities. Comparable to Canvas as a Brazil-focused multi-strategy manager, but with much larger scale and captive bank distribution.
Direct peers
- Armor Capital: Armor Capital is a Brazilian boutique macro manager focused on local rates and FX. Closely comparable to Canvas's Canvas Enduro strategy, with similar boutique scale and Brazilian-platform distribution.
- Genoa Capital: Genoa is a Brazilian independent macro multi-strategy manager focusing on Brazilian local markets. Comparable to Canvas as a peer boutique macro firm with similar distribution channels and target investor base.
- Occam Brasil: Occam is a Brazilian independent asset manager running macro multi-strategy and credit strategies distributed across retail and institutional channels. Closely comparable to Canvas in strategy profile, scale, and Brazilian retail-platform distribution model.
- Dahlia Capital: Dahlia is a Latin American–focused macro and arbitrage asset manager with a multi-strategy book. Comparable to Canvas in strategy mix and Brazilian-/regional macro orientation, with broader geographic reach.
- Kapitalo Investimentos: Kapitalo is a Brazilian independent manager with macro long-short and multi-strategy funds distributed across retail platforms. Comparable to Canvas in strategy mix, product structure (multimercado), and reliance on Brazilian retail brokerage platforms.
Emerging players
- Legacy Capital: Legacy Capital is a Brazilian independent manager running macro and structured-credit strategies for retail and qualified investors. Comparable to Canvas as a Brazilian-domiciled multi-strategy manager with similar distribution model.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Canvas Capital social profiles
Digital presenceCanvas Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Canvas Capital leadership team
Management profileNumber of profiles
Profiles4 records
Canvas Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Canvas Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Canvas Capital
What does Canvas Capital do?
Canvas Capital is an independent Brazilian asset manager that manages liquid-investment multimercado (multi-strategy) funds under a Macro strategy focused on local Brazilian market opportunities, primarily in interest rate and FX asset classes. The firm's product portfolio is built around the Canvas Enduro fund family, comprising the general-investor Canvas Enduro fund and two pension-focused variants (Canvas Enduro Icatu Prev and Canvas Enduro Itaú Prev), all run by the same investment team and distributed exclusively through third-party financial platforms.
Is Canvas Capital a public or private company?
Canvas Capital is a private company. It is classified as management employee owned and is currently operating.
When was Canvas Capital founded?
Canvas Capital was founded in 2016. It employs 11 to 50 people.
Where is Canvas Capital based?
Canvas Capital is headquartered in Brasil, Brazil, in the Latin America region.
How does Canvas Capital make money?
Two revenue lines are on record. Management and Administration Fees are the primary driver. The others are performance Fees.
Who are Canvas Capital's main competitors?
Broad incumbents on record are Ibiuna Investimentos, Gávea Investimentos, Verde Asset Management and Safra Asset Management. Direct peers are Armor Capital, Genoa Capital, Occam Brasil, Dahlia Capital and Kapitalo Investimentos. Legacy Capital is listed as an emerging player.
Does Canvas Capital have an API?
No public API is recorded for Canvas Capital.
What industry is Canvas Capital in?
Canvas Capital's product category is Macro Asset Management. Its primary akta.pro industry code is FSAEAAAC, Portfolio Construction & Asset Allocation Advisory. Its NAICS code is 52394 and its SIC code is 6282.