Owner of Casas Bahia to invest R$200m in startups

The retailer Via – the new name of Via Varejo, owner of Casas Bahia and Ponto Frio chains – will invest R$200 million of its own capital over the next five years to accelerate startups. The investments will be managed together with the open innovation platform Distrito (Via’s partner since November), focusing on the areas of finance, retail, logistics and marketing. According to the company, the resources will be applied in acceleration, partnerships and in mergers and acquisitions of startups. Via’s interest in technology-based companies reflects the desire to open new business fronts. The message was given on Sunday, when the company shortened its name to Via, without the ‘Varejo’ (retail, in Portuguese).

Source: Valor international