Business

500 Startups has a new partner in Latin America

Ex-president of Via Varejo, Flávio Dias will represent the venture fund in Brazil

Brazilian Flávio Dias is the new partner at 500 Startups. Photo: 500 Startups / Disclosure

500 Startups, an early-stage venture fund and seed accelerator based on Silicon Valley, is starting to operate in Brazil. According to Pequenas Empresas e Grandes Negócios, the startup accelerator has announced Flavio Dias, from Via Varejo, as a new partner.

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He’s an expert in e-commerce. After running Via Varejo, Dias became an angel investor in commerce and technology startups. So far, the global digital transformation expert has already made 11 contributions.

“I invest in scalable and technological businesses in the B2B and B2C models. I look more at fintech and retailtech, because these are segments in which I have specialized throughout my career”

Flávio Dias, 500 Startups partner in Brazil

Interviewed by Pequenas Empresas e Grandes Negócios, Dias said that Brazil still needs its ecosystem of entrepreneurs, large corporations and investors to generate more impact in the world. There are more than 40 Brazilian enterprises on the list to be covered by 500 Startups. One of these was actually shared between Dias and 500 Startups even before the executive became a partner: an investment in Olist, a marketplace for small retailers.

According to 500 Startups’ blog, Dias has also a successful experience at Philips and Magazine Luiza, one of Brazil’s biggest retailers. Those accomplishments caught the eye of Walmart, which invited him to start its website from scratch. After catapulting online sales to $1 billion in just two years, Walmart management decided to spin off Walmart.com into a separate entity with 1,500 employees and Flavio as president.

Based in São Paulo, Dias will help 500 Startups presence in Brazil, “he will also build a bridge between startups and corporations that want to be successful at digital transformation globally”, says the company’s blog.