Brazil's venture capital firm Mosaico plans IPO, sources say

By Carolina Mandl

SAO PAULO, Aug 25 (Reuters) - Brazilian technology investment firm Mosaico Ventures is planning an initial public offering in a move that would add a new sector to the country's stock exchange, two sources familiar with the matter said.

Banco BTG Pactual SA, Itau Unibanco Holding SA, Goldman Sachs Group Inc and JPMorgan Chase & Co have been hired to manage the flotation, according to the sources, who spoke on condition of anonymity. One of the sources said more banks might still join as bookrunners.

Rio de Janeiro-based Mosaico Ventures invests in technology companies loosely themed around e-commerce and web searches. It has companies such as game developer Gazeus, coupon provider Cuponeria and fintechs Parcelex and Compara in its portfolio.

Among its divestments are e-commerce media company Percycle, sold to software firm Linx SA LINX3.SA, and meta search engine Mundi, acquired by travel website Kayak. It also sold price comparison site Buscape to Naspers NPNJn.J in 2009, but in 2019 one of its portfolio companies Zoom - another price comparison site unrelated to the video-conferencing platform by the same name - acquired it back.

Mosaico's main partners - Guilherme Pacheco, Jose Guilherme Pierotti and Roberto Malta - jointly founded price comparison website BondFaro in 1999.

Mosaico's strategy bears some resemblance to that of Ideiasnet SA, a Brazilian company aimed at funding internet projects that went public 20 years ago. After selling most of its assets, Ideaisnet was renamed Padtec PDTC3.SA and holds only an optical fiber company.

Mosaico did not immediately respond to a request for comment.

(Reporting by Carolina Mandl; Editing by Will Dunham)

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