ABSeed Raises $30M to Invest in Early-Stage B2B SaaS Startups in Latin America

Primarily backed by family offices, ABSeed aims to invest in early-stage B2B SaaS startups in Brazil and Latin America.

Founded in 2019 by Geraldo Melzer, Marcelo Hoffmann, Felipe Coelho, and Franco Zanette, ABSeed specializes in go-to-market strategies and cloud-based operations. In early 2023, Cristiano Franco, an AI expert and entrepreneur, joined the team.

ABSeed has invested in 20 startups, including fintechs Conta Simples and Swap, martech Uncover, supply chain software Gedanken, and compliance platform SafeSpace. The fund’s third iteration will continue to focus on B2B SaaS startups, aiming to integrate complementary monetization layers like fintechs and marketplaces. Investments will range from $1 million to $2 million.

The first fund, valued at $7 million, achieved a 150% return with exits from Movidesk, Meetime, and Conta Simples. The second fund, valued at $20 million, holds nine investments with resources for additional investments. In late 2023, ABSeed made its first non-Brazilian investment in Construex, an Ecuadorian SaaS marketplace for construction, alongside global VCs Zacua Ventures, Fifth Wall, and Terracotta Ventures.

Melzer notes the maturity of Brazil’s tech ecosystem, attributing it to recent market challenges. ABSeed evaluates 8 to 10 startups weekly and plans to begin deploying its third fund soon.