Capital Solutions
Actuamos con total enfoque en el empresario, para diseñar la estructura de capital ideal — ya sea para crecer, reducir costos o desbloquear valor.
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Actuamos con total enfoque en el empresario, para diseñar la estructura de capital ideal — ya sea para crecer, reducir costos o desbloquear valor.
Estructuramos deudas que tienen sentido para cada empresa, con independencia y convicción. Solo iniciamos procesos en los que creemos, entregando resultados sólidos y sostenibles. Nuestro compromiso es estar al lado del empresario, generando valor continuo.
Transacciones concluidas en los últimos 30 meses.
Mil millones de reales captados en 2024.
Inversores de crédito participaron en nuestras transacciones.
Inversores presentaron propuestas a nuestros clientes.
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Context
Rede Monte Carlo, with a trajectory that began in 1975, operates across 8 Brazilian states and has 80 units, including active operations and upcoming openings. Its business model goes beyond fuel supply, offering a complete experience with a full-service concept that includes dining, convenience stores, truck shops, highway parking facilities and integrated services, inspired by the model of renowned international highway malls.
Strategic Rationale
The company’s first FIDC issuance, carried out in the first half of 2022 when it operated 40 units, was a milestone. Since then, Rede Monte Carlo has undergone a cycle of expansion and modernization. This consistent performance, combined with strong financial governance and professional management, paved the way for this second issuance, which not only reached a significantly larger volume but also attracted new institutional investors.
This capital raise represents an important step in the continued strengthening of Rede Monte Carlo’s capital structure, which began in 2024 with the issuance of two Agribusiness Receivables Certificates (CRAs). With this, the company consolidates a more robust, long-term liability profile, aligned with its asset-intensive and large-scale operating model.
Context
With 30 years of experience, RKM Engenharia is a leading real estate developer focused on high-end residential projects in Belo Horizonte (MG). The company is known for delivering iconic developments in the city’s most prestigious neighborhoods and has built a strong reputation for quality and innovation in the Brazilian real estate market.
Strategic Rationale
This transaction marked RKM’s debut in the capital markets. The CRI issuance raised structured capital for the holding company, secured by inventory units, providing long-term financing with no fixed amortization schedule — tailored to the company’s needs and aligned with the sales cycle of its portfolio.
Context
Ciss is a high-growth SaaS company specializing in POS and ERP solutions for supermarkets/wholesalers, construction materials retailers, and franchise chains. Headquartered in Dois Vizinhos, Paraná, the company serves thousands of clients across Brazil and has become a market leader in its niches.
In early 2024, Ciss launched the first issuance of quotas for the Ciss FIDC, a proprietary receivables investment fund structured in partnership with IGC Partners. This initial R$ 90 million raise was backed by the company’s recurring software subscription contracts, providing access to long-term capital at a lower cost.
Strategic Rationale
Following approximately one year of successful operation of the FIDC, Ciss completed the issuance of a second series of quotas, raising R$ 31 million. This new funding round not only provided additional capital to support the company’s growth initiatives but also delivered improved financing terms, including lower costs and higher leverage capacity.
The transaction underscores the effectiveness of the FIDC structure as a long-term financing vehicle for SaaS companies with recurring revenue models. By securitizing predictable cash flows from subscription contracts, Ciss is able to reduce its weighted average cost of capital while securing the resources needed to scale operations, enhance its technology platform, and expand its customer base.
Context
Rede Monte Carlo is one of the leading players in Brazil’s highway fuel sector, operating since 1975. Present on the main highways of São Paulo, Paraná, and Santa Catarina, the company has 66 highway and urban complexes, with 54 already in operation and another 12 scheduled to open between late 2024 and 2025. Its units feature a full range of services, including food courts, convenience stores, car wash facilities, and truck shops.
Strategic Rationale
After a cycle of significant expansion and major investments between 2022 and 2023, the group focused in 2024 on strengthening its capital structure. This funding marks the second transaction structured for the network by IGC Partners, following a R$100 million CRA in March 2024. In addition to securing better terms in this second CRA, Monte Carlo has now consolidated most of its capital structure into the long term, with payment schedules customized to the business’s cash flow.
Context
MISA is a vertically integrated industrial company focused on limestone-derived products. Based in Ceará, Brazil, the company owns its own mineral reserves and supplies a variety of industries including steel, metallurgy, footwear, and construction.
Strategic rationale
This marks MISA’s second capital markets transaction. In 2021, also advised by igc partners, the company issued its first CRI, which enabled a significant expansion in production capacity. Since then, MISA has more than doubled its revenue, enhanced its corporate governance, and returned to the market under improved conditions to support a new cycle of growth and expansion.
Context
Ciss is a high-growth Software as a Service (SaaS) company specializing in POS and ERP solutions for supermarkets/wholesalers, construction materials retailers, and franchise chains. Headquartered in Dois Vizinhos, Paraná, the company serves thousands of clients across Brazil and has established itself as a leader in its market niches.
Aiming to diversify and strengthen its funding sources, Ciss debuted in the capital markets through the structuring of its proprietary FIDC in the amount of R$ 100 million.
Strategic Rationale
The Ciss FIDC was designed with an innovative structure that enables the company to access long-term capital at a reduced cost and without the need for tangible guarantees. The transaction is backed by the future cash flows from the company’s software subscription contracts, converting predictable recurring revenue into immediate resources for investment and expansion.
This structure enhances Ciss’s ability to accelerate growth, invest in the improvement of its technology platform, and expand its presence in its operating markets, while preserving financial health and competitiveness.
Context
Veja Construções is a real estate developer with 16 years of experience in the Joinville (SC) market, specializing in residential buildings. The company has built a solid and successful track record, delivering several high-quality projects in the region.
Strategic Rationale
The financing was raised to complete the construction of Towers 2 and 3 of Bosques do Palermo — a full-featured home club residential complex with three towers located in Bairro Glória, one of Joinville’s most prestigious neighborhoods. Structured by igc Partners, the financing provided long-term capital with a grace period of 18 months after handover, and monthly disbursements, which helped reduce interest costs and improve project margins.
Context
With 13 years in the market, Persa Incorporadora is known for developing innovative and high-end residential projects in Uberlândia, Minas Gerais. The funded project, Mauá Living, is located in the Tabajaras region and stands out for its modern design and construction quality, catering to the city’s growing demand for upscale housing.
Strategic Rationale
This transaction marks Persa’s debut in the capital markets. The CRI proceeds will be used to finance the construction of Mauá Living, strengthening the company’s position in the local premium residential market. The structure offered attractive conditions tailored to the project's needs and represents a key step in Persa’s financial evolution.
Context
Conx is a construction and development company with over 30 years of history and presence in São Paulo’s most prominent neighborhoods. Since its founding, the company has launched more than 160 projects and built over 2 million square meters, standing out in the market for the high quality of its design and unique execution standards.
Strategic Rationale
The proceeds from the CRI issuance will be used to finance Conx’s upcoming project launches in 2024 and 2025. The transaction provided long-term, unrestricted capital with no fixed amortization schedule, giving the company flexibility to invest in its next generation of developments. The operation was structured by igc partners, acting as Conx’s exclusive financial advisor.
Context
Rede Monte Carlo is one of the leading players in Brazil’s highway service station mall segment, operating since 1975. The company has 63 units across São Paulo, Paraná and Santa Catarina, combining fuel stations with a full range of services, including dining, convenience stores and truck shops — a concept known internationally as highway malls.
The group has been growing at a rapid pace: it has doubled the number of units over the past three years and has a strong pipeline of contracted projects for the coming years. At the same time, it has taken important governance steps, such as implementing a board of directors, audited financial statements and access to capital markets.
Strategic Rationale
This CRA provided a better balance in the group’s capital structure, with long maturities and a series of flexibilities that allow it to continue growing in an accelerated and sustainable way.
Context
Grupo Agrosepac is a vertically integrated agribusiness in the pine wood sector, founded 60 years ago in the city of Mallet, Paraná. The group owns 6,000 hectares of pine-producing land, which supports its broader operations — including raw timber sales, industrial lumber processing, and the manufacturing of knot-free plywood panels. Currently, 90% of the group’s sales are export-based.
Context
Conexamérica develops green and economically attractive energy solutions for commercial clients, aiming to foster a more sustainable environment. The group currently operates a 0.3 MWp solar plant and has a robust pipeline of new distributed generation projects.
Strategic rationale
The issuance of Real Estate Receivables Certificates (CRI) marked Conexamérica’s debut in the capital markets and raised sufficient funds to fully finance the construction of seven new photovoltaic plants, totaling 3.5 MWp in installed capacity. Including its existing plant, the company will operate 3.8 MWp in total. The CRI structure has a 15-year term and enables Conexamérica to grow with long-term capital, supporting the continued expansion of Brazil’s renewable energy sector.
Context
Fertsan is a biotechnology company based in Ceará, Brazil, built upon more than 25 years of research. It specializes in plant biostimulants made from natural, environmentally friendly ingredients and serves major agricultural crops in Brazil such as soybeans, corn, cotton, wheat, and sugarcane. Using proprietary formulations based on marine-sourced biopolymers and nanotechnology, Fertsan's products deliver proven benefits, including enhanced resistance to diseases and water stress, and significant productivity gains — validated by top research centers and leading growers across the country.
Strategic rationale
The CPR-F provided long-term, customized capital with a 12-month grace period, enabling Fertsan to invest, refinance short-term debt, and accelerate its growth. igc partners structured the transaction and acted as the company’s financial advisor.
Contexto
O Grupo Agrosepac é uma agroindústria verticalizada do ramo de madeira pinus, fundada há 60 anos na cidade de Mallet (PR). Possui 6 mil hectares de terras produtoras de pinus, que alimentam as demais operações do grupo, incluindo a venda de madeira bruta, a industrialização de madeira serrada e a fabricação de chapas de madeira compensada sem “nó”. Atualmente, 90% das vendas do grupo são destinadas à exportação.
Racional estratégico
Agrosepac concluiu a emissão de um CRA de R$ 53.000.000,00. A captação vai financiar a expansão de seu projeto de verticalização e o capital de giro necessário para o crescimento nos próximos anos. O plano de verticalização do grupo foi iniciado em 2018 e os recursos do CRA vão financiar a sua terceira etapa, que envolve a construção de uma fábrica para transformar os resíduos do processo de fabricação de madeira em biomassa (pellets), além de reforçar o capital de giro e trocar dívidas de curto prazo por uma nova de seis anos. A igc partners estruturou a operação e atuou como o assessor financeiro da Agrosepac.
Context
San Remo is a high-end real estate developer based in Curitiba, Paraná. Founded in 1981, the company is known for delivering luxury residential projects with distinctive architecture and premium finishes.
Strategic Rationale
The proceeds from the CRI issuance were used to strengthen the holding’s working capital and finance the construction of the Chateau Carmelo project. The structure was tailored to the company's needs, with repayments occurring as apartment units are sold, and without fixed amortization schedules. The operation was structured and executed by igc partners, acting as San Remo’s exclusive financial advisor.
Context
Founded in 2018, Seed is a platform that combines the development of high-end gated communities with a full ecosystem of services including security, wellness, and home automation. The company is the market leader in its segment, with approximately 50% market share in the city of São Paulo.
Strategic Rationale
The R$105 million issuance of Real Estate Receivables Certificates (CRI) provided the capital needed to finance the construction of six residential projects located in São Paulo’s most prestigious neighborhoods: Dona Elisa, Kansas, Piassanguaba, Teviot, Itaverá, and LaPlace. In total, the developments comprise 56 homes and a combined estimated sales value (VGV) of R$372 million. Structured by igc partners, the transaction brought Seed a long-term and flexible capital solution, with repayments linked to unit sales and no fixed amortization schedule.
Context
Founded in 2004, Grupo SGGC operates in the development and management of shopping centers. The transaction was structured on one of its key assets, SerraSul Shopping, located in Pouso Alegre, Minas Gerais.
Strategic Rationale
This was SGGC’s first fundraising transaction in the capital markets, issuing a CRI with a 10-year term. The deal secured long-term capital tailored to the specific needs and growth strategy of the shopping center. igc partners acted as SGGC’s exclusive financial advisor in the structuring of the transaction.
Context
Grupo Zarin is one of the largest real estate groups in the Indaiatuba region of São Paulo state, operating across three verticals: residential development, land subdivision, and income-generating assets. This was the group’s first capital markets transaction.
Strategic Rationale
The CRI issuance marked Grupo Zarin’s entry into the capital markets, providing longer terms and a lower cost of capital compared to traditional bank lines. The transaction was structured by igc partners and represents a strategic milestone in the group’s financial evolution.
Context
Cal Viva supplies a joint venture formed by one of Brazil’s largest business groups and two major international companies. With a production facility located in Limoeiro do Norte (CE), the company operates in the lime production and mining sector, serving industrial applications.
Strategic rationale
The CRI issuance aimed to finance the installation of a new kiln to meet increased order volumes from its main client. Advised by igc partners, Cal Viva chose to access the capital markets instead of pursuing traditional bank financing. The result was a long-term funding structure with more favorable costs, securing the necessary capital to expand the production capacity of its operation.
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“IGC nos entregó excelentes soluciones, con condiciones mejores que las que se encuentran en el mercado.”
“Recibimos algunas propuestas y, con el apoyo de IGC, logramos identificar el mejor camino. Fue esencial contar con una empresa que pensara con nosotros en el mediano y largo plazo.”
“IGC nos asesoró estructurando una operación mucho mejor que las que encontramos en los bancos tradicionales, garantizando un beneficio para la operación.”
“IGC supo estructurar una operación fuera de lo común que pensábamos que nunca saldría, y eso fue esencial para el éxito de nuestra captación.”
“Ya he recomendado a IGC a varios amigos y siempre que pueda lo seguiré haciendo. Quedé muy satisfecho con la operación.”
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