XP Investimentos made an investment of R$ 197.3 million in Grupo Primo, raising the company's valuation to R$ 1.138 billion. The information was published exclusively by the NeoFeed portal.
The transaction, completed at the end of 2024, involved the acquisition of an additional 17.3% stake and strengthens XP's presence in the capital of Thiago Nigro's company, of which it has been a shareholder since 2020. With the new investment, the manager now holds preferred shares — without voting rights or a seat on the board — with rights restricted to economic issues.
Presence in the cryptocurrency market
XP Investimentos has expanded its operations in the cryptocurrency market through partnerships with specialized managers. Among the products offered are Hashdex funds, such as Hashdex 40 Nasdaq Crypto, Hashdex Bitcoin Full, and Hashdex Cryptocurrency Voyager, aimed at qualified investors. For the general public, there are options such as Trend Crypto Dollar and Hashdex 20 Nasdaq Crypto.
In addition, XP Seguros launched the Hashdex Cryptocurrency XP Seguros Prev FIC FIM pension fund, which combines exposure to cryptocurrencies with fixed income, aimed at qualified investors.
Grupo Primo, in turn, also operates in the cryptocurrency segment through the manager Grão Investimentos, acquired in 2020. Grão offers funds such as the ARCA Grão Previdência, which follows a diversification strategy inspired by the investment methods of Primo Rico.
With the new investment from XP, Grupo Primo aims to reach R$ 100 billion in assets under custody in the next five years, targeting a valuation exceeding R$ 10 billion.
The article XP buys another 17% stake in Grupo Primo was first seen on BeInCrypto Brazil.
