QI Tech, a Brazilian startup specializing in financial services infrastructure, announced the acquisition of 100% of Singulare, one of Brazil’s largest securities brokerage firms in the administration of Private Equity Investment Funds (FIPs), Receivables Investment Funds (FIDCs), and multimarket investment funds. Singulare has BRL 116 billion in assets under custody and administers more than 1,000 funds, including 700 FIDCs, making it a market leader in the segment.
According to Pedro Mac Dowell, CEO of QI Tech, negotiations for the acquisition began one year earlier and would have proceeded independently of the company’s recent US$200 million funding round led by General Atlantic.
The acquisition represents a strategic step toward consolidating QI Tech as a one-stop shop for financial infrastructure. Following CVM Resolution 175, which opened the FIDC market to retail investors, this type of fund is expected to become increasingly relevant in Brazil’s private credit market.
Mac Dowell, who was previously a Singulare client and maintained a close relationship with Guti, believes the integration will further strengthen the ties between the companies. Before the acquisition, QI Tech already operated in the FIDC structuring and administration market and had recently launched its own securities distribution firm, known in Brazil as a DTVM, with BRL 400 million in assets under custody.
Completion of the transaction was still subject to approval by the Central Bank of Brazil. Until that approval was granted, the companies would continue to operate independently. Following completion of the transaction, QI Tech’s revenue was expected to double, although the exact figures were not disclosed. The company’s workforce was also expected to increase from 120 to 420 employees.
Singulare was advised by BR Partners and Vidigal Neto Advogados, while QI Tech was advised by Vinci Partners and Freitas Leite Advogados.