Venture capitalists are always on the lookout for promising startups to invest in. One such venture capitalist is Pierpaolo Barbieri, the founder of Ualá, a fintech startup that has raised over $400 million in funding. Barbieri recently made headlines for his investment in 70m AzevedoTechCrunch, a Brazilian venture capital firm.
Barbieri invested $1 million in 70m AzevedoTechCrunch, which was founded by Rodrigo Azevedo in 2019. The firm focuses on investing in early-stage startups in Brazil and has already made several investments in companies such as Fazenda Futuro, a plant-based meat startup, and Housi, a proptech platform. According to Azevedo, the firm plans to use the funding to invest in more startups and expand its team. He also stated that the investment from Barbieri is a validation of the firm’s strategy and will help it attract more investors.
The Brazilian Startup Scene
Brazil has a thriving startup scene, with several unicorns (startups valued at over $1 billion) such as Nubank and iFood. However, the country still faces several challenges such as high taxes and bureaucracy, which can make it difficult for startups to succeed. Despite these challenges, venture capitalists like Barbieri see great potential in the Brazilian market. In an interview with TechCrunch, he stated that he believes Brazil is “one of the most attractive markets in the world” and that there is a “huge opportunity for innovation.”
The investment in 70m AzevedoTechCrunch is also just one example of the growing interest in the Brazilian startup scene. With more venture capitalists like Barbieri investing in early-stage startups, there is hope that the country’s startup ecosystem will continue to grow and thrive.