Target Brazil, a Barreto, Brazil-based company that supplies bovine byproducts to Asian markets, has received a $6m equity investment from Minerva Opportunity Fund I, LP.
With the investment, Minerva Opportunity Fund, an ImpactBase Investment Fund focused on the agriculture and energy sectors in emerging markets, acquired a 18.75% stake in the company.
The investment is expected to help Target Brazil strengthen and deepen marketing efforts in Asia. To this end, the company is currently analyzing locations in Shanghai or Hong Kong and expects to have the office launched by the third quarter of 2012.
Led by CEO and Founder Jose L. Valim, and Managing Director Paulo H. Valim, Target Brazil sells ox gallstones and concentrated ox bile, which are used throughout Asia as pharmaceutical raw materials for the production of a broad range of medicines for the prevention and treatment of obesity, digestive and metabolic problems as well as heart, cardiac and circulatory systems conditions.