# FORS Capital

> FORS Capital is a VC fund in São Paulo backing E-Commerce and Mobile. See 6 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: São Paulo, Brazil
- Total investments: 6
- Last investment: Aug 2022
- Lead investor: 17%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/performa-investimentos/
- Website: http://www.performainvestimentos.com
- Facebook: https://www.facebook.com/performainvestimentos

FORS Capital is a VC fund in São Paulo focused on E-Commerce and Mobile. Performa Investimentos is an investment management company specialized in Venture Capital and Private Equity investments in Brazil, with a focus on Social and Environmental Impact.Currently, Performa Investimentos has: 1) a Venture Capital fund (Performa Investimentos SC-1) that is investing in startups and early stage companies in thefollowing industries: a) biotechnology; b) nanotechnology; c) cleantech; d) medical appliances; and e) technology; and2) a Cleantech fund that is investing in early estage and later stage companies.3) a Growth Equity (Fund III) for Social and Environmental Impact in Brazil

## Contacts

5 contacts available for FORS Capital. Shizune tracks 4 team members at FORS Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/performa-investimentos?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $1.1M–$40M |
| Series B | $7.1M–$7.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| E-Commerce | 2 | 33% |
| Mobile | 1 | 17% |
| Medical | 1 | 17% |
| Chemical | 1 | 17% |
| Delivery | 1 | 17% |

14 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 3 | 50% |
| Seed | 1 | 17% |
| Series B | 1 | 17% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Brazil | 4 | 67% |
| Singapore | 1 | 17% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Eduardo Grytz, CFA | Founding Partner & Founder | 0 | https://shizune.co/investors/profile/eduardo-grytz |
| Gillaume Sagez | Partner | 0 | https://shizune.co/investors/profile/gillaume-sagez |
| Humberto Matsuda | Managing Partner / VP of Venture Capital | 0 | https://shizune.co/investors/profile/humberto-matsuda |
| Patrick Cannell | Investment Officer | 0 | https://shizune.co/investors/profile/patrick-cannell |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Graas | Graas is a provider of e-commerce solutions. | $40M | Series A | Aug 17, 2022 |  |
| Mandaê | Mandaê joins logistics and technology to innovate the delivery industry with a fluid and uncomplicated service. Think "UPS without the trucks": Mandaê is reinventing parcel logistics through a digital platform that organizes the entirety of the parcel supply chain to deliver a seamless, high-quality and efficient parcel shipment servicefor SMBs in Brazil. The company's model is asset-light, working with players across each of the principal steps of the parcel supply chain: pickups, cross-docking, and last-mile transport. In a country where the national postal service is effectively the only shipping option for SMBs, Mandaê’s platform is the only one that allows them to use private transporters, helping SMBs save up to 35% on their shipping costs. Its mission is to “Connect Stories” through logistics. The company is well funded with backing from some of Latin America’s top investors, including Monashees, Qualcomm Ventures, Performa, Valor Capital, Hans Hickler (former CEO of DHL Express-USA) and others. Mandaê was selected to the 2015 Endeavor Startup Network, was winner of the ABComm Innovation in E-commerce Logistics Award in 2017, and winner of the São Paulo “Smart Cities” category of the 1776 Challenge Cup. | $7.1M | Series B | May 02, 2018 |  |
| Mandaê | Mandaê joins logistics and technology to innovate the delivery industry with a fluid and uncomplicated service. Think "UPS without the trucks": Mandaê is reinventing parcel logistics through a digital platform that organizes the entirety of the parcel supply chain to deliver a seamless, high-quality and efficient parcel shipment servicefor SMBs in Brazil. The company's model is asset-light, working with players across each of the principal steps of the parcel supply chain: pickups, cross-docking, and last-mile transport. In a country where the national postal service is effectively the only shipping option for SMBs, Mandaê’s platform is the only one that allows them to use private transporters, helping SMBs save up to 35% on their shipping costs. Its mission is to “Connect Stories” through logistics. The company is well funded with backing from some of Latin America’s top investors, including Monashees, Qualcomm Ventures, Performa, Valor Capital, Hans Hickler (former CEO of DHL Express-USA) and others. Mandaê was selected to the 2015 Endeavor Startup Network, was winner of the ABComm Innovation in E-commerce Logistics Award in 2017, and winner of the São Paulo “Smart Cities” category of the 1776 Challenge Cup. | $7.1M | Series B | May 02, 2018 |  |
| ProRadis | ProRadis is building the foundations for a real revolution in the health sector, creating value for patients, clinics, and laboratories, uniquely connecting idle supply and demand through a set of unique technologies. Its portfolio of innovative solutions includes SmartRis, complete clinical and laboratory management software, Image2Doc, onlinemedical exam publisher platform, and I2D Application, a custom app for radiology clinics to connect with your applicants.ProRadis was founded in 2012 and is based in São Paulo, Brazil. | $1.1M | Series A | Jun 03, 2015 |  |
| GlobalYeast | GlobalYeast is a Belgian-Brazilian biotechnology startup focused on developing and deploying products and solutions for the fermentation industry. Base operations are strategically placed in both countries to better serve their clients globally. Their unique insight into fermentation processes is based on their strong knowledge of yeast metabolismand genetics and on applied research at the frontier of these sciences. Combined with their industrial know-how from years of experience in the Brazilian ethanol industry and multiple collaborations with yeast and fermentation industries world-wide, they are well equipped to understand their client’s needs and to deliver tangible results.GlobalYeast provides unique products and services to key markets of the bio-based economy. | $6.8M | Series A | Mar 10, 2015 |  |
| Hometeka | Hometeka connects brands of architecture and decoration to an ever-growing community of thousands of consumers across Brazil. A product portal, inspiration and technical content with everything you need to build or decorate your home. | $416K | Seed | Nov 12, 2014 |  |

6 of 6 investments shown.

## Co-investors
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund, 2 deals together
- [Icon Holding Company](https://shizune.co/investors/profile/icon-holding-company) — VC Fund, 2 deals together
- [International Finance Corporation](https://shizune.co/investors/profile/international-finance-corporation) — VC Fund, 2 deals together
- [Mercado Libre Fund](https://shizune.co/investors/profile/mercado-libre-s-fund) — VC Fund, 2 deals together
- [MONASHEES](https://shizune.co/investors/profile/monashees-capital) — VC Fund, 2 deals together
- [Qualcomm Ventures](https://shizune.co/investors/profile/qualcomm-ventures) — VC Fund, 2 deals together

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## FAQ

### What does FORS Capital invest in?

FORS Capital invests primarily in E-Commerce, Mobile and Medical startups, most often at Series A and Seed stage. Most of the 6 investments tracked by Shizune back companies in Brazil. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is FORS Capital's check size?

FORS Capital typically joins rounds of $1.1M–$40M at Series A and $7.1M–$7.1M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds FORS Capital participates in.

### How do I contact FORS Capital?

Public channels for FORS Capital include LinkedIn, the website linked on this profile and Facebook. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at FORS Capital?

The team at FORS Capital includes Eduardo Grytz, CFA (Founding Partner & Founder), Gillaume Sagez (Partner) and Humberto Matsuda (Managing Partner / VP of Venture Capital). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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