Brazil Special Report: VC Awaits Big Breakthrough
Incubators for entrepreneurs in Brazil have increased three-fold during the past five years and venture capital has taken off. However, Brazil awaits a grand VC success story.
by Jason Mitchell
At the start of the decade, just 135 incubators
buildings or studios set up for budding entrepreneurs, often
linked to universities had been set up in Brazil, while
more than 400 exist today, according to the Brazilian Venture
Capital and Private Equity Association (ABVCAP). The incubators
are home to some 4,000 start-ups, according to the Genesis
Institute, an incubator attached to Rio de Janeiros
ABVCAPs president, Luiz Eugenio Junqueira Figueiredo,
says that 15-20 venture capital (VC) groups now exist in Brazil
and that they have raised between 500 million and a billion
reais since the year 2000. The average venture capital
fund now being set up in Brazil seeks to raise 80 million to
100 million reais while five years ago it could only raise 20
million reais, Figueiredo says. Many are now
undertaking their second or third round of
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