Bertha Capital
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Here's the real deal on Bertha Capital: This is a well-connected Brazilian fund with serious government ties through Rafael Moreira's extensive public sector background, which could be gold for regulatory navigation but also suggests they might move at bureaucratic speed. With over R$600 million allocated across more than 10 funds and supporting 30+ startups, they're not just talking big - they're deploying real capital. The Amazon focus isn't just marketing fluff - they actually have boots on the ground in Manaus, which is rare for VCs. However, their team doesn't sit on boards of portfolio companies, which could mean either light-touch support or lack of deep operational involvement. The fact that they're co-investing with corporate players like Rede D'Or suggests strong strategic relationships, but founders should expect longer decision cycles given the multi-fund structure and government connections.
- —Best for: Brazilian startups needing regulatory expertise and Amazon region connections
- —Watch out for: Potentially slower decision-making due to government ties and complex fund structure
- —Known for: Multi-fund approach with strong corporate partnerships and regional focus
We offer active mentorship, access to a global network of specialists, support for subsequent fundraising and commercial leverage via connections with corporations, investors and local ecosystems. Sectors like financial services, health, agriculture and logistics are at the center of our thesis.
Bertha Capital has made 12 investments in Seed stage and 3 investments in Series A stage, with most of their investments in FinTech (10) and Enterprise Applications (8) sectors. The firm seeks to invest in artificial intelligence, big data, logitech, retail tech, fintech, games and entertainment, health tech, internet of things, agriculture technology, industrial automation, insurtech, logistics, electric mobility, supply chain technology, and wellness and health technology.
Rafael Moreira is the Founder and CEO of Bertha Capital in São Paulo, Brazil, investing $100K–$5M in sectors like energy, manufacturing, security, and transportation. A seasoned government advisor and economist, Moreira has held numerous senior roles in Brazilian ministries, shaping innovation and industrial policies. He brings experience from previous roles at Ministério da Economia and Ministry of Industry, Trade and Services, including serving as National Secretary for Innovation and New Businesses.
Gustavo Souza brings experience from previous roles at ArpexCapital, INDT, INFRA Asset Management and Site Blindado S.A., with education from Stanford University. With a robust skill set that includes venture capital, startups, and early-stage startup management. He was previously described as a very skilled and reliable Security Consultant who left to build a Security Service Provider.
Listed as one of the key members of the Bertha Capital management team alongside the founders. Based on recent LinkedIn activity, she appears to be actively involved in strategic planning and mentoring programs within the Brazilian startup ecosystem.
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