Venture capital firm Valutia has announced the launch of its second fund, aiming to raise a substantial $30 million to continue its mission of backing Brazilian entrepreneurs on the global stage. This new vehicle represents a significant step up, more than doubling the $11 million raised for its recently concluded inaugural fund. The firm, led by founders Bruno Lino and Kiko Lumack, expects to complete the first closing by the end of the year.
A Strategic Focus on the Brazilian Diaspora
Valutia is doubling down on its unique investment thesis, which targets "diasporic" Brazilian entrepreneurs who have founded startups outside their home country. The firm specifically seeks founders located in strategic global hubs, with a strong emphasis on US markets like Silicon Valley, New York, and Boston. This approach is based on the belief that these businesses operate in larger markets with stronger currencies and superior networking opportunities.
The firm's strategy is rooted in identifying founders with an international mindset from the outset, a vision championed by co-founder Bruno Lino, a former executive at Burger King and Kraft Heinz. By investing in these globally-minded entrepreneurs, Valutia aims to bridge Brazilian talent with the resources and scale available in more mature ecosystems. This focus allows the firm to capitalize on ventures poised for significant international growth and impact.
Investment Strategy and Capital Allocation
The new $30 million fund will primarily target early-stage startups, deploying initial checks ranging from $500,000 to $1 million. Valutia plans to maintain its position as a follower investor, collaborating with other firms to participate in promising funding rounds. This collaborative approach allows the firm to leverage its expertise while supporting a broader range of innovative companies.
Demonstrating a commitment to long-term partnership, Valutia has earmarked $9 million of the new fund specifically for follow-on investments. This substantial reserve will enable the firm to continue supporting its most promising portfolio companies in subsequent funding rounds. Such a strategy ensures that Valutia can help its startups navigate their growth journey and scale effectively over time.
Building on a Successful Foundation
The launch of Fund II builds upon the strong performance of Valutia's first vehicle, which is already 90% deployed across 17 different investments. That initial $11 million fund has already yielded a successful exit with the sale of Advolve to iFood, a major player in the Latin American tech scene. This early success validates the firm's investment thesis and provides momentum for its new fundraising efforts.
A standout in Valutia's portfolio is Music AI, the company behind the globally recognized music application Moises, founded by Geraldo Barros. Present in 190 countries, Music AI has raised over $40 million and serves as a prime example of the high-potential ventures Valutia aims to support. The success of companies like Music AI and Nomo underscores the quality of Brazilian entrepreneurs operating on the world stage.
For its second fund, Valutia intends to engage its existing base of 115 Limited Partners, which includes technology entrepreneurs and market executives. The firm is also expanding its outreach to attract capital from family offices and funds of funds. This diversified fundraising strategy is designed to build a robust and supportive investor network for its next chapter of growth.
With its new $30 million fund, Valutia is poised to strengthen its position as a crucial link between Brazilian innovation and global capital markets. The firm's focused strategy, proven track record, and commitment to supporting diasporic entrepreneurs signal a new phase of growth and opportunity. As Valutia expands its portfolio, it will continue to play a pivotal role in empowering the next generation of world-class, Brazilian-led technology companies.