Cassis Capital

What Cassis Capital does

Cassis Capital is a privately held Brazilian investment company founded in 2011 by entrepreneurs from MasterSAF and Taxweb, operating from São Paulo (headquarters per the company's own site; firmographic data lists Rio de Janeiro). The firm's purpose is to invest in the Brazilian B2B software segment, providing capital plus operational engagement through strategic committees covering innovation, technology development, market intelligence, corporate governance, and high-performance team formation. Its thesis centers on adding human capital and experiential knowledge beyond financial capital, with explicit values around ethics, accountability, innovation, and results.

The investment model is a hands-on operating-investor approach: Cassis Capital acquires stakes in B2B software companies and maintains board and advisory roles, then realizes returns through exits. Documented outcomes include acquisitions of MasterSAF by Thomson Reuters (March 2011), Bysoft by WiseTech Global (July 2017), ComexDez by Nexaas (January 2020), and Taxweb by Sovos (April 2020), plus Management Buyouts of SpedBrasil (March 2015), JExpert (October 2019), and Gett (August 2020). Active holdings include eComex/NSI (foreign trade), JExpert, Gett, and MC1. The firm does not develop proprietary technology products.

Commercially, Cassis Capital is a private, founder-controlled entity with no public filings, disclosed AUM, management fees, or institutional LPs evidenced. Distribution is referral-driven through the founders' networks, anchored by 40-year (Jander Sousa Martins), 30-year (Cesar Augusto Pinela, CEO), and M&A-specialist (João Martinez Fortes Júnior) relationships across SERPRO, FGV, MasterSAF, Taxweb, Bysoft, and prior portfolio boards. The website and source data show no funding rounds, no headcount beyond the 101–250 firmographic range, and no geographic footprint outside Brazil.

Name

Cassis Capital

Legal name

Cassis Capital

Website

https://cassiscapital.com.br

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Cassis Capital is a privately held Brazilian investment holding company founded in 2011 that acquires and actively manages stakes in B2B software companies, providing capital, governance, and operational support to founders across tax, foreign trade, and business management software.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Miscellaneous Financial Investment Activities (523999)

SIC

Investment Advice (6282)

akta.pro primary industry

Technology & Software Growth Equity (FSANACAA)

akta.pro secondary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• B2B software investment
• Venture capital
• Private equity
• Portfolio management
• Growth capital

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Management Returns: Cassis Capital generates returns through capital appreciation from portfolio company investments. The firm has demonstrated successful exits including acquisitions by Thomson Reuters, WiseTech, Sovos, and Nexaas, as well as Management Buyouts (MBOs). Revenue is realized through exits and ongoing portfolio company value creation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Cassis Capital is a private investment holding company focused on the B2B software segment. It provides growth capital combined with human capital (time, experience, and strategic guidance) to software entrepreneurs in Brazil, taking an active role in portfolio companies through strategic committees covering innovation, technology development, market intelligence, corporate governance, and high-performance team formation. The firm generates returns primarily through capital appreciation and successful exits of its portfolio investments.

Product overview

Cassis Capital is an investment company (private equity/venture capital) founded in 2011 by entrepreneurs from MasterSaf and Taxweb. The company focuses on the B2B software segment in Brazil, providing capital, time, and experience to entrepreneurs seeking accelerated sustainable growth and value creation through innovation. Cassis Capital does not offer a product or service in the traditional sense; rather, it is an investment firm that acquires stakes in software companies and provides strategic guidance through committees, contributing to innovation and technology development, market intelligence and strategy, corporate governance, and formation of high-performance teams. The company's portfolio includes companies such as eComex (foreign trade), Bysoft, JExpert, Gett, MasterSaf (acquired by Thomson Reuters), Taxweb (acquired by Sovos), SpedBrasil, and ComexDez (acquired by Nexaas).

Differentiator

Problem solved

Functional benefit

Products and services

• B2B Software Growth Capital Investment Private investment and strategic partnership offering targeting founders and entrepreneurs of B2B software companies in Brazil. Provides growth capital combined with hands-on strategic committee participation covering innovation, technology development, market intelligence, corporate governance, and high-performance team formation. Returns are realized through capital appreciation, acquisitions, and management buyouts of portfolio companies.

Quantifiable outcome

• Multiple successful exits demonstrating investment thesis validation

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• 2bCapital: Brazilian private equity firm focused on mid-market technology and software investments. Comparable as a Brazil-based PE firm targeting similar-sized B2B software opportunities with operating-partner involvement.
• G5 Partners: Brazilian private equity and venture capital firm investing across technology and growth sectors. Most directly comparable peer given that Cassis Capital's CEO Cesar Pinela sits on G5's Investment Committee, signaling direct overlap in Brazilian B2B software deal sourcing and ecosystem positioning.
• Kaszek Ventures: Latin America's largest dedicated tech VC, investing across B2B software and SaaS in Brazil and the broader region. Highly comparable as a specialist B2B software investor in the same geography, though operating at significantly larger fund scale.
• Monashees: Brazilian venture capital firm investing in early- and growth-stage technology companies, with strong B2B software exposure. Comparable as a Brazilian tech-focused investor serving similar founders, though typically taking earlier, smaller positions.
• Valor Capital Group: US-Brazil cross-border growth equity firm investing in technology and B2B software. Directly comparable in thematic focus on Brazilian B2B software and in operating-partner model, with additional US market access Cassis lacks.
• e.Bricks Ventures: Brazilian venture capital firm focused on technology and B2B software investments. Comparable as a Brazilian tech investor with similar founder-led, active governance approach and comparable check sizes.
• Bossanova Investimentos: Brazilian venture capital firm investing in early-stage technology companies with B2B focus. Comparable as a Brazilian tech VC with similar founder-community deal sourcing model.
• Lanx Capital: Brazilian growth equity firm focused on technology-enabled businesses. Comparable as a Brazil-based growth investor targeting B2B software and tech-enabled services companies.

Regional players

• Crescera Capital: Brazilian private equity firm with technology and growth equity strategies. Comparable as a Brazil-based PE investor in growth-stage businesses, but with broader sector mandate and larger institutional fund vehicles than Cassis.

Emerging players

• Astella Investimentos: Brazilian venture capital firm investing in early-stage technology companies. Comparable as a Brazilian tech investor though typically focused on earlier-stage opportunities than Cassis's growth-equity profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/cassis-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cassis Capital