Endeavor raises USD$15 million investment fund

The intention is to invest in 50 startups, awarding USD$250,000 checks to each. This fundraising also marks the incorporation of Scale-Up Ventures’ new director, Gustavo Cruz.
The investment vehicle raised US$15 million to support outstanding companies within Endeavor's portfolio in Brazil.

Endeavor, the global network of entrepreneurs, has successfully completed the fundraising for the second investment fund of Scale-Up Ventures for Brazil.

The investment vehicle managed to raise USD$15 million to support outstanding companies within Endeavor’s portfolio in the South American country, surpassing the initial goal of USD$12 million.

The intention is to invest in 50 startups, providing USD$250,000 checks to each. This fundraising also marks the addition of the new director of Scale-Up Ventures, Gustavo Cruz.

This fund operates with an exclusive focus on Brazil, although discussions are underway to expand its reach to different regions of Latin America.

According to the executive, who founded the Livit application and joined the Endeavor team six years ago, the fundraising success is attributed to consistency with the investment strategy.

Scale-Up Ventures is designed to invest in the fastest-growing companies in Brazil. We remained very faithful to this thesis in Fund I, with a double due diligence process, always following this criterion, albeit with an agnostic perspective towards industry and business model.”

“When you build a fund that stays true to what was proposed to investors, they tend to reinvest in your work, and we are seeing this happen in practice,” explained Gustavo Cruz, Director of Scale-Up Ventures.

Fund II follows the same strategy as the previous one, which is to invest in companies that have gone through or are going through the Scale-Up program and are in the seed and Series A stages.

The difference lies in the investment period, which is slightly more extended this time.

Most of Scale-Up Ventures’ investors are part of the Endeavor network, including entrepreneurs, ambassadors, and mentors.

In addition, Fund II has attracted prominent institutional investors such as Locaweb Ventures, Mago Capital, and 051 Capital.

The investment vehicle has already approved eight investments, three of which have been publicly announced.

This includes Portão 3, which announced a financing round of USD$3.7 million earlier this year, and Brandlovrs, which raised USD$1.9 million in April.

Among the top 10 most valued unicorns in LATAM, Brazil has the highest number.

Brazil is the country with the most unicorns in the top 10 of this category, and the South American country is a key player in the Latin American startup ecosystem.

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