{"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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\"><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 wp-block-paragraph\"><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 wp-block-paragraph\"><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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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 wp-block-paragraph\" 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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