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JP Conte’s family office has put more money behind a Brazilian waste-to-energy company, and the size of the follow-on says plenty about his conviction. Lupine Crest Capital added nearly R$70 million, roughly $14 million, to its stake in Orizon Valorização de Resíduos.
The move more than doubles the firm’s original position and lifts its total investment in the company to about R$125 million, close to $25 million.
The deal in numbers
The fresh capital arrived alongside eB Capital, the Brazilian firm that anchored the earlier round and arranged this one. Its involvement points to growing confidence in both Orizon and the wider Brazilian waste and energy markets.
Announced in mid-June 2026, the raise reads less like a fresh bet and more like a vote of confidence in a company the office already knew well.
A sector on the rise
Waste-to-energy is no fringe corner in Brazil. Orizon turns landfill waste into power and recovered materials, and its standing as the largest waste manager in Latin America gives it room to grow as the country tightens how it handles refuse.
The follow-on lands as that market gathers speed. eB Capital arranged the round, a sign that a firm with deep local knowledge sees the same opening Conte does rather than a lone outsider taking a flier.
Why Orizon
Orizon’s plan is to keep widening its landfill footprint, both on its own steam and through acquisitions, and that growth path is what drew the additional money.
Conte was direct about the reasoning. “We are confident in Orizon’s management team and the company’s strategy to expand its landfill footprint both organically and through acquisition, and look forward to continuing to support the company throughout their growth,” Conte said.
Lupine Crest’s reach
The family office, founded by Conte, invests across healthcare, financial services, software, and industrial technology, and describes its aim as turning companies into leaders in their fields. The Orizon stake extends that ambition into infrastructure abroad.
Its partner brings a specific edge. eB Capital has a long record of building national market leaders in Brazil through a buy-and-build approach, which suits a company still on the hunt for landfill acquisitions.
Brazil’s waste sector has drawn steady foreign interest as the country formalizes how it handles garbage, and a company already running at national scale is a rare way in. Conte’s check rides on that structural shift more than on any single quarter’s numbers, which is why the raise reads as a long-term position rather than a trade. For a family office with no fund clock, that is exactly the sort of asset that fits.
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