Technology

500 Startups raises US$ 10 million for its first exclusive fund for Brazil

Since its foundation, in 2010, the Silicon Valey fund invested in 44 Brazillian companies

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  • 500 Startups was created in 2010 and, since its foundation, has invested in 2,300 companies in 75 countries;
  • The new fund is called Brazil Hub.

The 500 Startups fund, based in the United States, announced, at a Credit Suisse event, the creation of its first exclusive fund for Brazil. According to Neofeed, $10 million were raised to bet on the Latin American country that created 14 unicorns since 2017.

ALSO READ: 2017 to 2019 – A chronology of Latin American Unicorns

500 Startups was created in 2010 and, since its foundation, has invested in 2,300 companies in 75 countries. In Brazil, 44 investments were made, in a total of $5.5 million. Conta Azul, VivaReal, Magnetis and Descomplica are among the startups invested by 500 in Brazil.

ALSO READ: Brazilian startups raised $2.7 billion in venture capital investment in 2019

The new fund, called Brazil Hub, will have as its mission not only to invest in companies that are in the so-called early stage (early stages) or have already gone through their first rounds, but also to promote the exchange of experiences between entrepreneurs from different places in the world.

*The previous version of this note contained erroneous values regarding the volume raised by Brazil Hub fund and also about the amount already invested by 500 Startups in Brazil.