Judith Toledo Piza Varandas

Partner of Setter Investimentos since 2010, having worked the past few years in various management projects held by SETTER, with significant value creation to customers, as well as active participation in mergers and acquisitions and strategic project planning.

Judith Varandas has more than five years of experience in private equity, having worked at Patria Investimentos, monitoring and acting as manager of several invested companies.

Judith worked as Financial Planning Manager at DASA, a leader in diagnostic medicine in Latin America, where she was  responsible for annual budgeting, five-year plan, monitoring and projection of company´s results and investment profitability analysis. While working at DASA, she actively participated in the fundraising process of $ 250 million structured debt through emission of 10 years-debentures abroad.

She also worked as a Financial Analyst at Fotoptica, the largest photo and optical retail chain in Brazil, in which she was responsible for monitoring and improving the company's performance as well as the company's preparation to be sold to the world's second largest optical retail group - Hal Investments.

Judith holds a Master of Science from Università Bocconi (Milan - Italy) / ESADE (Barcelona - Spain) in International Management and a degree in Business Administration from Fundação Getulio Vargas, in São Paulo (Brazil).