{"id":298,"date":"2025-07-09T23:44:18","date_gmt":"2025-07-10T02:44:18","guid":{"rendered":"https:\/\/lapincapital.com\/home\/"},"modified":"2025-09-10T20:16:27","modified_gmt":"2025-09-10T23:16:27","slug":"home","status":"publish","type":"page","link":"https:\/\/lapincapital.com\/pt\/","title":{"rendered":"Home"},"content":{"rendered":"<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-0d0c6204 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-32a6c669\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-84db97e6\"><h2 class=\"uagb-heading-text\">When you don&#8217;t lose money<\/h2><\/div>\n\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-e9433abc\"><h2 class=\"uagb-heading-text\">every other option<\/h2><\/div>\n\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-cfcd1c26\"><h2 class=\"uagb-heading-text\">is a good one<\/h2><\/div>\n\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-8c3d3c31\"><h2 class=\"uagb-heading-text\">&#8211; Charlie Munger<\/h2><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-3c4af91a\">\n<div class=\"wp-block-uagb-image aligncenter uagb-block-30ed37cd wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-center\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/charlie-munger-em-foto-de-2013-1701214336497_v2_3x4-768x1024.jpg ,http:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/charlie-munger-em-foto-de-2013-1701214336497_v2_3x4.jpg 780w, https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/charlie-munger-em-foto-de-2013-1701214336497_v2_3x4-768x1024.jpg 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/charlie-munger-em-foto-de-2013-1701214336497_v2_3x4-768x1024.jpg\" alt=\"\" class=\"uag-image-1650\" width=\"300\" height=\"500\" title=\"charlie-munger-em-foto-de-2013-1701214336497_v2_3x4\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-6675f48d alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-df856136\">      \n\t\t\t<div class=\"uagb-icon-wrapper uagb-block-06e1685a\"\n\t\t\tstyle=\"\" >\n\t\t\t\t\t\t\t\t\t<span class=\"uagb-svg-wrapper\" \n\t\t\t\t\t aria-label=\"chevron-down\"\t\t\t\t\ttabindex=\"0\">\t\t\n\t\t\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewbox= \"0 0 448 512\" role=\"graphics-symbol\" aria-hidden=\"false\" aria-label=\"\"><path d=\"M224 416c-8.188 0-16.38-3.125-22.62-9.375l-192-192c-12.5-12.5-12.5-32.75 0-45.25s32.75-12.5 45.25 0L224 338.8l169.4-169.4c12.5-12.5 32.75-12.5 45.25 0s12.5 32.75 0 45.25l-192 192C240.4 412.9 232.2 416 224 416z\"><\/path><\/svg>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-dd7b9cd0\"><h2 class=\"uagb-heading-text\">role para continuar<\/h2><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-d97aa649\">\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__small-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-4abff000\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap\">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-eb28f327 wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/www.linkedin.com\/company\/lapin-capital\/\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Linkedin<\/div><\/a><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-14f5e1e7 wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"mailto:contato@lapincapital.com\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Fale conosco<\/div><\/a><\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-fbcf1f03 wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"#aboutus\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Sobre<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-de4d6c62 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-e4c8ce7d\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-1cb1e9a9\"><h3 class=\"uagb-heading-text\">01.<\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-aa9a9b9d\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-d54cddc504e402aeccc1ba4a3a96e0ea\" style=\"font-size:1.2em;line-height:1.4\">Lapin Capital \u00e9 um clube de investimentos que, por meio do value investing, busca um portf\u00f3lio concentrado e descorrelacionado do mercado de a\u00e7\u00f5es.<br>(i) <strong>an\u00e1lise diligente<\/strong>;<br>(ii) <strong>proximidade com as empresas investidas<\/strong>;<br>(iii) <strong>vis\u00e3o de longo prazo<\/strong><\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-2937831f alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-61de8b9c\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-3e1c7795\"><h3 class=\"uagb-heading-text\">02.<\/h3><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-f3c447c5\">\n<div class=\"wp-block-uagb-tabs uagb-block-d29e419d uagb-tabs__wrap uagb-tabs__hstyle3-desktop uagb-tabs__vstyle6-tablet uagb-tabs__stack1-mobile\" data-tab-active=\"0\" id=\"aboutus\"><ul class=\"uagb-tabs__panel uagb-tabs__align-left\" role=\"tablist\"><li class=\"uagb-tab uagb-tabs__active\" role=\"none\"><a href=\"#uagb-tabs__tab0\" class=\"uagb-tabs-list uagb-tabs__icon-position-left\" data-tab=\"0\" role=\"tab\"><div>Lapin Capital<\/div><\/a><\/li><li class=\"uagb-tab\" role=\"none\"><a href=\"#uagb-tabs__tab1\" class=\"uagb-tabs-list uagb-tabs__icon-position-left\" data-tab=\"1\" role=\"tab\"><div>O que buscamos<\/div><\/a><\/li><\/ul><div class=\"uagb-tabs__body-wrap\">\n<div class=\"wp-block-uagb-tabs-child uagb-tabs__body-container uagb-inner-tab-0\" aria-labelledby=\"uagb-tabs__tab0\" id=\"aboutus\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-19bd443e541caca40962c226bf05101e\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);font-size:1.5em;line-height:1.2\"><strong>Em 2019, Julio Coelho criou a Lapin com o objetivo de buscar oportunidades em empresas subavaliadas na bolsa.<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-cef963c3fbc93efe7784cf43ee212bed\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);font-size:1em;line-height:1.2\">Essas oportunidades surgem pelo fato de que a maioria dos fundos n\u00e3o monitora ou n\u00e3o tem conhecimento aprofundado sobre empresas com baixa liquidez ou valor de mercado.<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-f05d35ce56f9234b45d794c2e3f927d3\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);font-size:1em;line-height:1.2\">Buscando investir nessas oportunidades, criamos um ve\u00edculo com uma estrat\u00e9gia <em>contr\u00e1ria<\/em> para encontrar investimentos onde os grandes fundos geralmente n\u00e3o olham.<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-f3e8f6fbecdf48899901621f616c0603\" style=\"margin-top:var(--wp--preset--spacing--40);margin-bottom:var(--wp--preset--spacing--40);font-size:1em;line-height:1.2\">Assim, o clube foi criado, cobrindo um universo diferente daquele que grandes fundos e investidores normalmente observam.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-tabs-child uagb-tabs__body-container uagb-inner-tab-1\" aria-labelledby=\"uagb-tabs__tab1\" id=\"aboutus\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-74d04c7dc20f92e70a7f6d5ea4637e58\"><strong>Situa\u00e7\u00f5es especiais<\/strong>: avaliamos spin-offs, empresas com ativos ocultos, al\u00e9m de arbitragem de fus\u00f5es e eventos societ\u00e1rios, incluindo arbitragem entre a\u00e7\u00f5es preferenciais e ordin\u00e1rias e entre empresas holding e subsidi\u00e1rias.<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-15fffe470f3fd8954721e6394d588eee\"><strong>Empresas em mudan\u00e7a de aloca\u00e7\u00e3o de capital<\/strong>: oportunidades de investimento em empresas que est\u00e3o desinvestindo unidades de neg\u00f3cio ou alterando sua estrat\u00e9gia de aloca\u00e7\u00e3o de capital para liberar caixa a ser devolvido aos acionistas (por meio da redu\u00e7\u00e3o do capital de giro ou aumento da alavancagem).<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-33291f9ffded63ed4922f6d969e52e1c\"><strong>Compounders com potencial de retornos acumulados no longo prazo<\/strong>: comprar com desconto empresas que conseguem entregar altos retornos sobre o capital investido ao longo de horizontes de investimento prolongados.<\/p>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-9200c20b alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-7eace719\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-11f3089f\"><h3 class=\"uagb-heading-text\">03.<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-6970f9f9a67f24a3e623ff86600da849\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1.8em;line-height:1.1\"><strong>Processo de<br>investimento<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-abec27cc\">\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-56f90465c43e42284b3213d3b6bb4fdc\" style=\"margin-right:0;margin-left:0;padding-right:var(--wp--preset--spacing--50);padding-left:var(--wp--preset--spacing--50);font-size:1.2em\">Por meio de um processo de investimento diligente, a Lapin busca oportunidades assim\u00e9tricas:<\/p>\n\n\n\n<section class=\"wp-block-uagb-columns uagb-columns__wrap uagb-columns__background-none uagb-columns__stack-mobile uagb-columns__valign-top uagb-columns__gap-10 align uagb-block-1b8412aa uagb-columns__columns-2 uagb-columns__max_width-theme\"><div class=\"uagb-columns__overlay\"><\/div><div class=\"uagb-columns__inner-wrap uagb-columns__columns-2\">\n<div class=\"wp-block-uagb-column uagb-column__wrap uagb-column__background-undefined uagb-block-d4abf8a9\"><div class=\"uagb-column__overlay\"><\/div>\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-99833e8d3adfe893b79d0ed61ef4fc86\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1.5em\"><strong>(i) Universo de cobertura<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-6ba4f73772c0f4e002f45c6da13d2714\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1em\">Monitoramos de perto todas as empresas do nosso universo, incluindo principalmente small caps e empresas especiais de todos os tamanhos.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-column uagb-column__wrap uagb-column__background-undefined uagb-block-fb74d5c2\"><div class=\"uagb-column__overlay\"><\/div>\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-68bd27694efa37add703e867a6ba1574\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1.5em\"><strong>(ii) Sele\u00e7\u00e3o das melhores oportunidades<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-c0c1e70bd551f92af29f4457531353f5\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1em\">Dentro do nosso universo, definimos as melhores oportunidades de investimento com base na qualidade dos ativos, avalia\u00e7\u00e3o e potencial de retorno para os acionistas.<\/p>\n<\/div>\n<\/div><\/section>\n\n\n\n<section class=\"wp-block-uagb-columns uagb-columns__wrap uagb-columns__background-none uagb-columns__stack-mobile uagb-columns__valign-top uagb-columns__gap-10 align uagb-block-bc5feba9 uagb-columns__columns-2 uagb-columns__max_width-theme\"><div class=\"uagb-columns__overlay\"><\/div><div class=\"uagb-columns__inner-wrap uagb-columns__columns-2\">\n<div class=\"wp-block-uagb-column uagb-column__wrap uagb-column__background-undefined uagb-block-d2ac0c57\"><div class=\"uagb-column__overlay\"><\/div>\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-b198617f13c22127b50d0a5b0b18c7a6\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1.5em\"><strong>(iii) Mergulho profundo na empresa<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-1214b13f66c1edac200fa8ddd8801bf6\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1em\">Nas oportunidades selecionadas, realizamos uma an\u00e1lise aprofundada, incluindo an\u00e1lise setorial e modelagem financeira.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-column uagb-column__wrap uagb-column__background-undefined uagb-block-17ba9ec5\"><div class=\"uagb-column__overlay\"><\/div>\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-9b90dd689373873eab2d03c780209f29\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1.5em\"><strong>(iv) Proximidade com a empresa<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-61f2c3537b195baf2e8179b3a197865d\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1em\">Ap\u00f3s a an\u00e1lise aprofundada, nos aproximamos da gest\u00e3o da empresa para entender como pretendem direcion\u00e1-la no futuro.<\/p>\n<\/div>\n<\/div><\/section>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-ast-global-color-5-color has-alpha-channel-opacity has-ast-global-color-5-background-color has-background is-style-wide\"\/>\n\n\n\n<section class=\"wp-block-uagb-columns uagb-columns__wrap uagb-columns__background-none uagb-columns__stack-none uagb-columns__valign-top uagb-columns__gap-10 align uagb-block-cefc8844 uagb-columns__columns-1 uagb-columns__max_width-theme\"><div class=\"uagb-columns__overlay\"><\/div><div class=\"uagb-columns__inner-wrap uagb-columns__columns-1\">\n<div class=\"wp-block-uagb-column uagb-column__wrap uagb-column__background-undefined uagb-block-7b96d33b\"><div class=\"uagb-column__overlay\"><\/div>\n<p class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-398bf36e28ec2a722580b6de39a6486e\" style=\"margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);font-size:1.5em\"><strong>Constru\u00e7\u00e3o de portf\u00f3lio<\/strong><\/p>\n\n\n\n<ul style=\"margin-top:0;margin-right:0;margin-bottom:0;margin-left:0;font-size:18px\" class=\"wp-block-list has-ast-global-color-5-color has-text-color has-link-color wp-elements-43a0f5bf828319a98ac383cdcb282571\">\n<li class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-d7bd189df6cdf8fb7e4a0db8d3d505d9\" style=\"padding-right:0;padding-left:0;font-size:0.9em;line-height:1.5\">A empresa \u00e9 inclu\u00edda em uma shortlist de empresas aptas para investimento<\/li>\n\n\n\n<li class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-4d7e0db092e01fc203df48f1ee10120c\" style=\"padding-right:0;padding-left:0;font-size:0.9em;line-height:1.5\">Monitoramento pela equipe Lapin e entrada em posi\u00e7\u00e3o \u201csecund\u00e1ria\u201d<\/li>\n\n\n\n<li class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-41240a132389594b113419556af9dcef\" style=\"padding-right:0;padding-left:0;font-size:0.9em;line-height:1.5\">Mergulho profundo na empresa e acompanhamento<\/li>\n\n\n\n<li class=\"has-ast-global-color-5-color has-text-color has-link-color wp-elements-0ff207dda2cc0b300984b813da59f26e\" style=\"padding-right:0;padding-left:0;font-size:0.9em;line-height:1.5\">As empresas com maior qualidade e assimetria de oportunidades tornam-se posi\u00e7\u00f5es principais do portf\u00f3lio<\/li>\n<\/ul>\n<\/div>\n<\/div><\/section>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uag-hide-desktop uag-hide-tab uag-hide-mob uagb-block-245a0df9 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-05fdad43\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-46d25fc9\"><h3 class=\"uagb-heading-text\">04.<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-9b71b84806055099cc92c149a4716cd4\" style=\"margin-top:0;margin-bottom:0;font-size:1.8em;line-height:1.1\"><strong>Team Lapin<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-b0684dc5\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-541de6b7\">\n<div class=\"wp-block-uagb-container uagb-block-e05e1cac\">\n<div class=\"wp-block-uagb-image uagb-block-67daf637 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture1.jpg ,https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture1.jpg 780w, https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture1.jpg 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture1.jpg\" alt=\"\" class=\"uag-image-1657\" width=\"180\" height=\"180\" title=\"Picture1\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-53657d81\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-2cc306496e7167ede945abf58bc32b41\" style=\"margin-bottom:0;font-size:1.5em\"><strong>Julio Coelho, CFA<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-d95779389cac05f132b16eb747ab1a10\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1.1em;line-height:1.2\"><strong>Fund manager with prior experience in Investment Banking and fund management<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-cdb9158050f85bed2f961d4c2f72dc38\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1.1em;line-height:1.2\">Julio has a career history in S\u00e3o Paulo and London in resource management and has had experience in DCM, M&amp;A and foreign exchange &amp; derivatives at houses such as XP Investimentos and Banco Brasil Plural.<\/p>\n\n\n\n<ul style=\"padding-right:0;padding-left:0;line-height:1.4\" class=\"wp-block-list has-ast-global-color-2-color has-text-color has-link-color wp-elements-f72ad83e3b635f87c0082a0d7d520033\">\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Academic experience<\/strong>: Bachelor\u2019s degree in science and technology from Federal do ABC, has CGA, CGE certifications from Ambima and CFA from CFA Institute, and is also a registered manager with the CVM.<\/li>\n\n\n\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Experience in DCM and M&amp;A Boutiques<\/strong>: was part of a team that carried out <em>fund-raising<\/em>, acquisitions, <em>project finance<\/em> and debt raising projects for medium-sized companies.<\/li>\n\n\n\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Experience in Fund Management<\/strong>: since 2019 he has been manager and founder of Lapin Capital. Additionally, he is responsible for the Lending Desk at Wincent, one of the largest HFT currency and crypto arbitrage and market-making funds.<\/li>\n\n\n\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\">Before that, he worked at the exchange and derivatives desk at Banco Brasil Plural.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-c6f578a9\">\n<div class=\"wp-block-uagb-container uagb-block-f30b9090\">\n<div class=\"wp-block-uagb-image uagb-block-38c8a2e6 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture2.jpg ,https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture2.jpg 780w, https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture2.jpg 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/lapincapital.com\/wp-content\/uploads\/2025\/07\/Picture2.jpg\" alt=\"\" class=\"uag-image-1658\" width=\"642\" height=\"642\" title=\"Picture2\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-3a4e16ad\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-2ba760f6bfae15522ada846070f5f2af\" style=\"margin-bottom:0;font-size:1.5em\"><strong>Tomas Ventura<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-42712419af22fb5db0598afb381caf8e\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1em;line-height:1.2\"><strong><strong>Entrepreneur with experience in Private Equity and turnaround<\/strong><\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-123df6ba489641c36b4801c0d6b3aa86\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1em;line-height:1.2\"><strong>Tomas<\/strong> has a background as an entrepreneur and investor and had experience on the <em>sell-side<\/em> at an M&amp;A boutique that he co-founded.<\/p>\n\n\n\n<ul style=\"padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;line-height:1.4\" class=\"wp-block-list has-ast-global-color-2-color has-text-color has-link-color wp-elements-984a68978d44b34d3e99062b37f7e551\">\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Academic experience<\/strong>: Graduated in economics from FAAP, with a master\u2019s degree in finance from Harvard University and an MBA from the University of Michigan<\/li>\n\n\n\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Entrepreneurship and M&amp;A<\/strong>: throughout his career he participated in or led transactions in the most different sectors, from the renewable energy sector, technology, mobility, logistics and sanitation, with a strong focus on B2B businesses, including for 3 publicly traded companies<\/li>\n\n\n\n<li style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Experience in Management<\/strong>: with two experiences as interim CFO in turnarounds in different sectors, most recently he led the raising of R$500mm in investments and worked for 2 years as CFO of Reaqt Water Technologies, a water and effluent treatment company, and is currently Interim CEO of Refera Tecnologia, technology platform for the real estate sector<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-7f772ad0 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-layout-flex uagb-block-55cc3827\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-27f24bf9\"><h3 class=\"uagb-heading-text\">04.<\/h3><\/div>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-2f37982b604ba6700bdc679af339dc8a\" style=\"margin-top:0;margin-bottom:0;padding-top:0;padding-bottom:0;font-size:1.8em;line-height:1.1\"><strong>Performance<\/strong><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-902f7bd5\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-f59d62406d740d4e45962345dedb7efb\" style=\"font-size:1.2em;line-height:1.3\">Performance robusta e descorrelacionada, com captura positiva superior ao \u00edndice, e captura negativa inferior. Ou seja, em m\u00e9dia, quando o Ibovespa subiu, a Lapin subiu mais; e quando o Ibovespa caiu, a Lapin caiu menos.<\/p>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-d7a3a21d\">\n<div class=\"wp-block-uagb-container uagb-block-8f2096e3\">\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-a704693baf9966cc842a75c69aa905d4\" style=\"margin-top:var(--wp--preset--spacing--20);margin-bottom:var(--wp--preset--spacing--20);font-size:1em\"><strong>Performance<\/strong><\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-f4787bb96a4ee75ae2834ba312e945e5\" style=\"margin-top:0.3rem;margin-bottom:0.3rem;font-size:0.8em;line-height:1.1\">Retorno anualizado robusto de <strong>21,39% p.a.<\/strong> nos \u00faltimos 5 anos, alcan\u00e7ando um retorno total de <strong>227,64%<\/strong>.<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-f5c12a212c124c12b0540e3e09af176d\" style=\"margin-top:0.3rem;margin-bottom:0.3rem;font-size:0.8em;line-height:1.1\">Desempenho robusto superando nosso objetivo de 20% ao ano.<\/p>\n\n\n\n<p class=\"has-ast-global-color-2-color has-text-color has-link-color wp-elements-c8688b8c59e60dc7fb2bc9b86834ae84\" style=\"margin-top:0.3rem;margin-bottom:0.3rem;font-size:0.8em;line-height:1.1\">Os \u00edndices de captura mostram que, em m\u00e9dia, o portf\u00f3lio sobe um pouco mais quando o Ibovespa sobe, e sobe bastante quando o Ibovespa cai.<\/p>\n<\/div>\n\n\n\n<style>\n.lapin-performance-table {\n  width: 100%;\n  border-collapse: collapse;\n  font-family: 'Roboto', sans-serif;\n  font-size: 0.9em;\n  background-color: transparent;\n}\n\n.lapin-performance-table thead th {\n  background-color: #ffffff;\n  color: #002D85;\n  padding: 10px 8px;\n  font-weight: 600;\n  border: 1px solid #e0e0e0;\n  text-align: center;\n}\n\n.lapin-performance-table tbody td {\n  padding: 10px 8px;\n  background-color: #fff;\n  border: 1px solid #e0e0e0;\n}\n\n.lapin-performance-table tbody tr td:first-child {\n  background-color: #002D85; \/* azul escuro *\/\n  color: #fff;\n  font-weight: 600;\n  text-align: left;\n}\n<\/style>\n\n<table class=\"lapin-performance-table\">\n  <thead>\n    <tr>\n      <th><\/th>\n      <th>Lapin<\/th>\n      <th>Ibovespa<\/th>\n    <\/tr>\n  <\/thead>\n  <tbody>\n    <tr>\n      <td>Retorno Acumulado<\/td>\n      <td>227,64%<\/td>\n      <td>38,56%<\/td>\n    <\/tr>\n    <tr>\n      <td>Retorno Anualizado<\/td>\n      <td>21,39%<\/td>\n      <td>5,47%<\/td>\n    <\/tr>\n    <tr>\n      <td>\u00cdndice de Sharpe<\/td>\n      <td>0.5854<\/td>\n      <td>-0.1438<\/td>\n    <\/tr>\n    <tr>\n      <td>\u00cdndice de Sortino<\/td>\n      <td>0.9976<\/td>\n      <td>-0.2155<\/td>\n    <\/tr>\n    <tr>\n      <td>Captura Positiva<\/td>\n      <td>121%<\/td>\n      <td>-<\/td>\n    <\/tr>\n    <tr>\n      <td>Captura Negativa<\/td>\n      <td>-461%<\/td>\n      <td>-<\/td>\n    <\/tr>\n  <\/tbody>\n<\/table>\n\n\n\n<p><a href=\"https:\/\/drive.google.com\/file\/d\/11yI3YBkgLWejpqEhkmiUuHCAC43qMjoy\/view?usp=sharing\" target=\"_blank\" rel=\"noopener noreferrer\" style=\"display:inline-block; font-weight:700; text-decoration:underline; font-size:15px; color:#000000;\" onmouseover=\"this.style.color='#243673'\" onmouseout=\"this.style.color='#000000'\"><br \/>\n  L\u00c2MINA COMPLETA<br \/>\n<\/a><\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-uagb-container uagb-block-4f1f03a7 alignfull uagb-is-root-container\"><div class=\"uagb-container-inner-blocks-wrap\">\n<div class=\"wp-block-uagb-container uagb-block-89161ae1\">\n<div class=\"wp-block-uagb-advanced-heading uagb-block-a6d24dfe\"><h2 class=\"uagb-heading-text\">Fale conosco<\/h2><\/div>\n\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-88c3cb02\"><h2 class=\"uagb-heading-text\"><a href=\"mailto:contato@lapincapital.com\">contato@lapincapital.com<\/a><\/h2><\/div>\n<\/div>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>When you don&#8217;t lose money every other option is a good one &#8211; Charlie Munger scroll to continue 01. Lapin Capital is an Investment Club, which, through value investing, seeks a concentrated portfolio that is uncorrelated with the stock market(i) diligent analysis;(ii) proximity to the companies we invest in;(iii) long-term horizon 02. 03. Investmentprocess Through [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"disabled","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"enabled","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-298","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Home - Lapin Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lapincapital.com\/pt\/\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home - Lapin Capital\" \/>\n<meta property=\"og:description\" content=\"When you don&#8217;t lose money every other option is a good one &#8211; Charlie Munger scroll to continue 01. 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Lapin Capital is an Investment Club, which, through value investing, seeks a concentrated portfolio that is uncorrelated with the stock market(i) diligent analysis;(ii) proximity to the companies we invest in;(iii) long-term horizon 02. 03. 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