Hemera

What Hemera does

Hemera is a Brazilian financial institution licensed as a DTVM (Distribuidora de Títulos e Valores Mobiliários) under CVM Resolution 175, headquartered in Curitiba with a secondary office in São Paulo. The firm provides fiduciary administration, asset registry, custody, and securities distribution services to fund managers (gestores), structurers (estruturadores), and institutional investors operating in Brazil's capital markets. Its service portfolio covers the full asset lifecycle—acquisition, formalization, settlement, registry, and collection—with special focus on credit rights funds (FIDCs), real estate funds (FIIs), and multi-strategy vehicles (FIPs, FIMs, FIFs). Hemera administers over 100 funds and has participated in 75+ fund migrations.

The company's technology stack is built around proprietary components: HERMES is an in-house electronic signature platform used primarily for commercial note issuance documentation; Motor de Registradoras is an automated registry engine for asset registration and tracking; and Motor de Cobrança is a collection system designed to integrate with external platforms. Hemera also operates its own SPB settlement account (code 448) and was the first DTVM to participate in Nuclea's SITRAF interbank settlement system, alongside direct integration with B3 for clearing operations. The firm is LGPD-compliant and subject to CVM and ANBIMA oversight.

Hemera generates revenue through a mix of recurring and transactional streams: ongoing fund administration fees calculated as a percentage of assets under administration, transaction fees for asset registry (escrituração) and securities distribution, professional services fees from the HERMES platform, managed services for escrow-linked accounts, and transaction fees for clearing and settlement operations. The go-to-market is enterprise B2B field sales targeting institutional fund managers through direct relationship management, with no public pricing disclosed and contracts negotiated per engagement or per fund. The company is founder-controlled, with no parent company or external equity investors disclosed.

Name

Hemera

Legal name

HEMERA DISTRIBUIDORA DE TÍTULOS E VALORES MOBILIÁRIOS LTDA.

Website

https://hemeradtvm.com.br

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Hemera is a Brazilian DTVM providing fiduciary administration, custody, asset registry, and securities distribution services to fund managers and structurers in the Brazilian capital markets, administering over 100 investment funds.

Ownership category

akta.pro rank

Headquarters

HQ city

Água Verde

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Others, Marketing or Sales, Infrastructure

Revenue model

1. Fund Administration Fees: Ongoing fees for fiduciary administration and custody of investment funds (FIDC, FIP, FII, FIM, FIF). Fees typically calculated as percentage of assets under administration.
2. Asset Registry Services: Fees for escrituração (registry) services for various asset types including commercial notes, receivables, and other securities.
3. Securities Distribution: Distribution of fund quotas (cotas) to investors, earning commissions on successful placements.
4. Electronic Signature Services: HERMES platform services for document formalization, generating fees from fund managers and issuers.
5. Escrow Account Services: Fees for linked escrow-type accounts providing secure transaction handling.
6. Clearing and Settlement Services: Instituição liquidante services for clearing operations via B3 and Nuclea.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Hemera DTVM is a Brazilian financial institution that delivers a full fiduciary ecosystem for the capital markets: fiduciary administration and custody of investment funds (FIDC, FIP, FII, FIM, FIF), asset registry (escrituração) for commercial notes and receivables, securities quota distribution, escrow-type linked accounts, electronic document formalization, and clearing/settlement services via B3 and Nuclea/SITRAF. Services are delivered through proprietary platforms — HERMES (electronic signature), Motor de Registradoras (registry engine), and an in-house collection system — covering the complete asset lifecycle from acquisition to collection.

Product overview

Hemera is a DTVM (Distribuidora de Títulos e Valores Mobiliários) offering a comprehensive fiduciary ecosystem. The core product portfolio centers on asset registry services (Escrituração de Ativos and Escrituração de Notas Comerciais), fund administration and custody (Administração e Custódia de Fundos), and a full asset lifecycle suite comprising acquisition, formalization, settlement, registry, and collection. The HERMES platform provides proprietary electronic signature capabilities for document formalization. The Motor de Registradoras enables automated asset registration on the company's own platform. Supporting services include B3 operations, SITRAF authorization, and Núclea integration for clearing and settlement. The company administers over 100 funds including FIDCs, FIFs, FIIs, FIMs, and FIPs.

Differentiator

Problem solved

Functional benefit

Products and services

• Escrituração de Ativos (Asset Registry) Asset registry services covering multiple asset types including commercial notes and receivables, providing comprehensive, secure, and efficient registry solutions independent of whether Hemera administers the underlying FIDCs. Intended for fund managers and issuers seeking reliable escritura\u00e7\u00e3o services.
• Escrituração de Notas Comerciais (Commercial Notes Registry) Specialized registry services for Commercial Notes (Notas Comerciais), an alternative investment instrument with IOF exemption. The service accelerates the issuance process in an effective and economical manner, intended for issuers and structurers of these instruments.
• Contas Vinculadas do Tipo Escrow (Escrow Linked Accounts) Escrow account services providing security and tranquility for client operations. An exclusive service differentiating Hemera from competitors, designed to handle secure segregated transaction flows for clients' fiduciary operations.
• Administração e Custódia de Fundos (Fund Administration and Custody) Fiduciary administration and custody services for investment funds. The team has participated in the transfer of more than 75 funds with a 5-business-day average migration timeline and seamless continuation of FIDC operations, serving fund managers seeking reliable, CVM-compliant administration.
• HERMES — Assinatura Eletrônica de Documentos (Electronic Document Signature) Proprietary electronic signature platform developed internally for simplifying the contract signing process and internal documentation, particularly for credit rights assignment documents in Commercial Note issuances. Marketed as a practical and economical solution for fund managers and issuers.
• Motor de Registradoras (Registry Engine) Proprietary registry engine that automates the registration process and tracking of assets on Hemera's own platform, providing operational efficiency and integration interoperability with client systems.
• Aquisição de Ativos (Asset Acquisition Services) Asset acquisition services that can be executed in the client's layout and integrate with the client's systems, covering commercial receivables, services receivables, checks, contracts, precatórios, CPR, commercial notes, credit card receivables, and CCB. Offered to fund managers and structurers requiring flexible acquisition workflows.
• Instituição Liquidante para Operações via Clearing (Settlement Institution) Settlement institution services for electronic clearing operations, facilitating transaction settlement via clearing houses operating in the securities, commodities, and derivatives markets. Offered to clients requiring institutional settlement capabilities.
• Distribuição de Cotas (Quota Distribution) Quota distribution services offering market availability, excellence in customer service, total security and privacy of investor personal data, and investor profile suitability. Provided to fund managers seeking distribution reach for their fund quotas, earning commissions on successful placements.

Quantifiable outcome

• Migration of a typical FIDC fund can be completed in approximately 5 business days
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• B3coreTechnology or IntegrationB3 is Brazil's main securities and commodities exchange and clearing house. Hemera uses B3's systems for launching and inputting operations, as well as clearing services.
• Nuclea / SITRAFcoreTechnology or IntegrationHemera is the first DTVM to participate in financial movement settlements through Nuclea's SITRAF system, enabling interbank TED settlement with agility and security. SITRAF is regulated by Banco Central do Brasil.
• SOLIS INVESTIMENTOS LTDAmajorStrategic or Co-development PartnerMajor fund manager client administering multiple FIDC and related funds through Hemera's platform. Collaborative relationship across numerous fund vehicles including AJAXJUD, APOLO, CREDITISE, and others.
• 4UM GESTÃO DE RECURSOS LTDAmajorStrategic or Co-development PartnerAsset management firm for which Hemera provides fund administration services for the AKZ IWS FIDC.
• ANTHARUS GESTORA DE RECURSOS LTDAmajorStrategic or Co-development PartnerFund manager using Hemera's administration services for ÁQUILA BR FIDC and ARCH FIP multi-strategy funds.
• GOLDEN ASSET GESTORA DE RECURSOS LTDAmajorStrategic or Co-development PartnerAsset manager for which Hemera administers AMERICA FIDC and MULTISETORIAL ÁSIA LP funds.
• RB INVESTIMENTOS GESTÃO DE RECURSOS LTDAmajorStrategic or Co-development PartnerFund manager client administering the APROVOU FIDC through Hemera's platform.
• ANBIMAminorOthersBrazilian Financial and Capital Markets Investors Association. Hemera submits information to ANBIMA's database and follows its standards for fund administration.
• CVM (Comissão de Valores Mobiliários)coreOthersBrazilian securities regulator. Hemera operates as a regulated DTVM under CVM Resolution 175 and other applicable regulations.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BTG Pactual: Brazil's largest independent investment bank with full DTVM operations including fund administration, custody, and asset management. Competes with Hemera at the institutional scale end of the market.
• XP Inc. Large Brazilian financial services platform with DTVM operations, fund distribution, and custody. Represents a scale-driven incumbent that Hemera's mid-market positioning partially competes with or complements.
• Genial Investimentos: Brazilian broker and asset manager with DTVM operations offering fund administration and distribution. Overlaps with Hemera in fiduciary administration for select client segments.

Direct peers

• Planner Trust: Brazilian DTVM offering fiduciary administration, custody, and securities services. Directly comparable to Hemera as a mid-sized fiduciary administrator in Brazil.
• Oliveira Trust: Brazilian fiduciary services provider with a DTVM license, administering investment funds and providing custody. Competes with Hemera in the mid-market fund administration segment.
• Vortx DTVM: Brazilian DTVM specializing in fiduciary administration for FIDCs, FIIs, and structured credit funds, with proprietary technology platforms. Directly comparable to Hemera's product mix and target market.
• BRL Trust DTVM: One of Brazil's largest independent DTVMs offering fiduciary administration, custody, and fund services. Closest direct competitor to Hemera in the Brazilian fund administration and asset registry space.
• CM Capital Markets: Brazilian DTVM with fund administration and securities distribution operations. Comparable peer serving similar fund manager and institutional client segments.

Regional players

• Vinci Partners: Brazilian alternative asset manager that both uses DTVM services and, via affiliated entities, offers fund administration. Tangentially comparable as a Brazilian institutional capital markets participant in overlapping segments.

Others

• Banco B3: Brazil's main exchange and clearing infrastructure provider. Hemera integrates with B3 for clearing and settlement, making B3 an enabling infrastructure counterparty rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/hemeradtvm
• LinkedInlinkedin.com/company/hemeradtvm
• Instagraminstagram.com/hemeradtvm

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Hemera