Mergers & Acquisitions

Ilha Capital is a Brazilian M&A boutique focused on local and cross-border transactions on both the buy-side and sell-side.

Strategic Advisory

Preparing companies for mergers and acquisitions through governance, positioning, and readiness advisory.

Sell-Side M&A

Preparing businesses for partial or full exits, engaging buyers, managing negotiations, and guiding sale processes through signing.

Capital Raising

Structuring capital raises and engaging investors aligned with strategy, timing, growth plans, and capital needs.

About Us

Mergers & Acquisitions

Ilha Capital is a Brazilian M&A boutique focused on local and cross-border transactions on both the buy-side and sell-side.

About Us

Strategic Advisory

Preparing companies for mergers and acquisitions through governance, positioning, and readiness advisory.

Strategic Advisory

Sell-Side M&A

Preparing businesses for partial or full exits, engaging buyers, managing negotiations, and guiding sale processes through signing.

Sell-Side M&A

Capital Raising

Structuring capital raises and engaging investors aligned with strategy, timing, growth plans, and capital needs.

Capital Raising
50+ Companies Advised
30+ Years of Combined Experience
100% Partner-Led
2020 Established

Overview

Ilha Capital is a Brazilian M&A advisory boutique focused on local and cross-border transactions. The firm provides senior-led, analytically rigorous advice to companies, entrepreneurs, shareholders, investors, and acquirers, combining partner involvement with proprietary market intelligence and deep sector knowledge.

Ilha Capital supports clients across the full transaction lifecycle, from strategic preparation and opportunity assessment to negotiation, execution, and closing. Its work includes sell-side and buy-side M&A, capital raising, valuation, pre-transaction advisory, and cross-border transactions connecting Brazil with global investors and counterparties.

With more than 50 companies advised since its establishment in 2020, Ilha Capital is positioned as a trusted advisor for important transactions that require judgment, discretion, analytical depth, and execution discipline, helping clients transform strategic ambition into actionable opportunities while maximizing value and improving transaction certainty.

About Us →
Itamaraty Palace staircase, Oscar Niemeyer, Brasília
Itamaraty Palace · Brasília · Oscar Niemeyer, 1970

Services

Sell-side M&A

Business preparation, buyer universe construction, negotiation management, and close - from first conversation to signing.

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Buy-side M&A

Acquisition strategy, target mapping, discreet outreach, due diligence, and negotiation - for acquirers seeking the right target.

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Capital Raising

Deal structuring, institutional-grade investment materials, and a targeted process reaching investors with genuine mandate alignment.

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Valuation & Fairness Opinions

Independent business valuations and fairness opinions - built on transparent methodology and genuine independence from conflicting interests.

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Strategic Advisory

Pre-transaction diagnostic and value creation program for owners planning a sale or capital raise within the next 12 to 36 months.

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Cross-border transactions are not simply domestic transactions with an international counterparty. They involve different legal systems, different governance expectations, different cultural norms around negotiation and disclosure, and different timelines for decision-making. Executing them well requires advisors who operate fluently on both sides of the border.

Ilha Capital was built for exactly this. Our founding team brings together experience in North American capital markets, Brazilian M&A advisory, and Latin American cross-border transactions - across three languages and multiple regulatory environments. We advise in both directions.

  • 01
    Brazil → outboundAcquisitions and partnerships abroad, outbound capital raises with international investors, and sell-side processes targeting foreign acquirers.
  • 02
    Inbound → BrazilBrazil market entry through acquisition, minority investment, or strategic partnership - with full regulatory and local relationship coverage.
  • 03
    Cross-border executionAlignment of parties operating under different standards, multi-jurisdiction process management, and genuine linguistic and cultural fluency in both directions.

Leadership

We believe in building strong, lasting relationships - with our clients and our investors. Michael Fraser & Fergus Martin
Michael Fraser

Michael Fraser

Founding Partner

More than 15 years of experience in M&A advisory and fundraising across the United States and Latin America, with a focus on cross-border transactions between Brazil, North America, and Europe.

Fergus Martin

Fergus Martin

Founding Partner

More than 15 years of experience advising on M&A and cross-border transactions, with particular expertise in structuring complex deals under Brazil’s financial regulatory framework.

Meet the partners →

Insights

Sector · Healthcare May · 2026

Vertical integration in healthcare: what hospital-insurer deals mean for competition and deal execution

The Unimed Blumenau case at CADE turns vertical integration from a broad strategic theme into a live regulatory test - changing how these transactions must be underwritten from the outset.

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Regulation · Fintech Apr · 2026

How regulation is reshaping acquisition criteria in Brazilian fintech

BaaS, VASPs and minimum capital rules have expanded the regulatory perimeter materially. Scale, capital resilience and regulatory readiness are now central quality attributes in acquisitions.

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Market Jan · 2026

Cost of capital as the new gatekeeper of Brazilian M&A

With the Selic at 15.00%, cost of capital is not a background condition - it is the main filter through which transaction viability is determined. Expensive leverage and compressed multiples are separating financeable assets from the rest.

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