76 investors have funded 21 B2B E-Commerce companies head-officed in Sao Paulo, across 128 rounds (Jun 1999 – Mar 2026). They are ranked by how many Sao Paulo companies in this market they have actually backed.
"In Sao Paulo" describes the companies, not the investor: most of the money in any city comes from somewhere else, and the Where the money comes from section below shows exactly where it came from here.
Ranked by companies backed in this market and city, then by round count. "Led" counts rounds recorded with this investor as lead.
| # | Investor | Based in | Stages here | Companies | Rounds | Led | Latest | Portfolio total |
|---|---|---|---|---|---|---|---|---|
| 1 | Maya Capital | Sao Paulo, Brazil | SeedSeries ASeries B | 5 | 9 | 3 | Apr 2023 | 44 |
| 2 | FJ Labs | New York City, United States | SeedSeries BSeries C | 4 | 6 | 2 | Mar 2023 | 661 |
| 3 | Valor Capital Group | New York City, United States | Series A | 4 | 5 | 4 | Aug 2023 | 113 |
| 4 | Tiger Global Management | New York City, United States | Series BSeries E+Series A | 3 | 4 | 1 | Apr 2022 | 791 |
| 5 | Y Combinator | Mountain View, United States | Seed | 3 | 3 | 3 | May 2022 | 5,648 |
| 6 | Global Founders Capital | Berlin, Germany | Series ASeed | 3 | 3 | 1 | Apr 2022 | 563 |
| 7 | Kaszek | Buenos Aires, Argentina | Series ASeries BSeries C | 2 | 6 | 2 | Jan 2022 | 123 |
| 8 | Onevc | Sao Paulo, Brazil | SeedSeries ASeries B | 2 | 4 | 1 | Apr 2022 | 38 |
| 9 | NXTP Ventures | Buenos Aires, Argentina | Series BSeedSeries A | 2 | 4 | 2 | Apr 2022 | 30 |
| 10 | Monashees | Sao Paulo, Brazil | Series ASeries B | 2 | 3 | 2 | Mar 2023 | 121 |
| 11 | Flourish | Redwood City, United States | Series A | 2 | 2 | 1 | Apr 2022 | 85 |
| 12 | Canary | Sao Paulo, Brazil | Series ASeed | 2 | 2 | 1 | Jan 2022 | 89 |
| 13 | Alexia Ventures | Sao Paulo, Brazil | Series A | 2 | 2 | 1 | Mar 2023 | 26 |
| 14 | Globo Ventures | Rio de Janeiro, Brazil | Series A | 2 | 2 | — | Apr 2023 | 17 |
| 15 | Pear VC | San Francisco, United States | SeedSeries ASeries B | 1 | 3 | — | Apr 2022 | 163 |
| 16 | Accel | Palo Alto, United States | Series DSeries E+ | 1 | 2 | 1 | Aug 2021 | 1,133 |
| 17 | Andreessen Horowitz | New York City, United States | Series ASeries B | 1 | 2 | 1 | Apr 2022 | 1,117 |
| 18 | Founders Fund | San Francisco, United States | Series ASeries B | 1 | 2 | — | Apr 2022 | 543 |
| 19 | Greylock Partners | Menlo Park, United States | Series ASeries B | 1 | 2 | 1 | Apr 2022 | 471 |
| 20 | Qualcomm Ventures | San Diego, United States | Series DSeries E+ | 1 | 2 | — | Aug 2021 | 310 |
| 21 | Greenoaks | San Francisco, United States | Series ASeries B | 1 | 2 | — | Apr 2022 | 110 |
| 22 | Elevar Equity | Bengaluru, India | Series BSeries C | 1 | 2 | 1 | Oct 2020 | 52 |
| 23 | IGNIA | Series BSeries C | 1 | 2 | 1 | Oct 2020 | 17 | |
| 24 | ThornTree Capital Partners | Boston, United States | Series DSeries E+ | 1 | 2 | — | Aug 2021 | 5 |
| 25 | 500 Global | San Francisco, United States | Seed | 1 | 1 | — | Nov 2014 | 1,988 |
| 26 | Insight Partners | New York City, United States | Series E+ | 1 | 1 | 1 | Aug 2021 | 762 |
| 27 | Endeavor | New York City, United States | Series A | 1 | 1 | — | Apr 2022 | 313 |
| 28 | NFX | San Francisco, United States | Series A | 1 | 1 | 1 | Aug 2023 | 209 |
| 29 | Picus Capital | Munich, Germany | Series A | 1 | 1 | 1 | Oct 2021 | 159 |
| 30 | Accion | Washington, DC, United States | Seed | 1 | 1 | — | Mar 2026 | 117 |
| 31 | Advent International | Sao Paulo, Brazil | Series E+ | 1 | 1 | — | Aug 2021 | 165 |
| 32 | Clocktower Technology Ventures | Santa Monica, United States | Series A | 1 | 1 | — | Apr 2022 | 135 |
| 33 | Cathay Innovation | San Francisco, United States | Seed | 1 | 1 | — | Mar 2026 | 94 |
| 34 | Qualcomm | San Diego, United States | Series C | 1 | 1 | 1 | Oct 2020 | 92 |
| 35 | Alkeon Capital Management | New York City, United States | Series E+ | 1 | 1 | — | Aug 2021 | 53 |
| 36 | Avenir Growth Capital | New York City, United States | Series B | 1 | 1 | — | Apr 2022 | 47 |
| 37 | VMG Partners | San Francisco, United States | Series E+ | 1 | 1 | — | Aug 2021 | 46 |
| 38 | DGF | Sao Paulo, Brazil | PE | 1 | 1 | — | Jun 2014 | 41 |
| 39 | SP Ventures | Sao Paulo, Brazil | Series A | 1 | 1 | — | Apr 2023 | 36 |
| 40 | IGNIA | Mexico City, Mexico | Seed | 1 | 1 | — | Mar 2026 | 34 |
| 41 | Acre Venture Partners | Santa Monica, United States | Series A | 1 | 1 | 1 | Apr 2023 | 25 |
| 42 | A Star | San Francisco, United States | Series B | 1 | 1 | — | Apr 2022 | 32 |
| 43 | Alter | United States | Series A | 1 | 1 | — | Jan 2022 | 24 |
| 44 | Endeavor Brasil | Sao Paulo, Brazil | Series A | 1 | 1 | — | Aug 2023 | 28 |
| 45 | Caravela Capital | Curitiba, Brazil | Series A | 1 | 1 | — | Oct 2021 | 17 |
| 46 | Dalus Capital | Monterrey, Mexico | Series A | 1 | 1 | — | Mar 2023 | 25 |
| 47 | Syngenta Group | Basel, Switzerland | Series A | 1 | 1 | — | Apr 2023 | 19 |
| 48 | DOMO Invest | São Paulo | Series A | 1 | 1 | 1 | Oct 2021 | 25 |
| 49 | Norte Ventures | Sao Paulo, Brazil | Seed | 1 | 1 | — | Mar 2026 | 23 |
| 50 | Norte | Sao Paulo, Brazil | Seed | 1 | 1 | — | Dec 2021 | 21 |
| 51 | Base Partners | Sao Paulo, Brazil | Series A | 1 | 1 | — | Aug 2023 | 16 |
| 52 | Iporanga Ventures | Sao Paulo, Brazil | Series A | 1 | 1 | — | Aug 2023 | 18 |
| 53 | Preface Ventures | San Francisco, United States | Seed | 1 | 1 | — | Mar 2026 | 22 |
| 54 | GP Investments | Sao Paulo, Brazil | Unattributed | 1 | 1 | — | Jun 1999 | 21 |
| 55 | Valiant Capital | Houston, United States | Series A | 1 | 1 | 1 | Jun 2018 | 14 |
| 56 | Itau BBA | Sao Paulo, Brazil | Seed | 1 | 1 | — | Apr 2022 | 14 |
| 57 | Owl Rock | New York City, United States | Series E+ | 1 | 1 | — | Aug 2021 | 12 |
| 58 | Formus Capital | New York City, United States | Series A | 1 | 1 | — | Aug 2023 | 11 |
| 59 | Aimores Investimentos | Sao Paulo, Brazil | Seed | 1 | 1 | — | Mar 2022 | 10 |
| 60 | Positive Ventures | Sao Paulo, Brazil | Seed | 1 | 1 | — | Mar 2026 | 11 |
| 61 | SV Latam Capital | San Francisco, United States | Series A | 1 | 1 | 1 | Oct 2021 | 9 |
| 62 | Quartz | Sao Paulo, Brazil | Series A | 1 | 1 | 1 | Oct 2021 | 7 |
| 63 | Morro Ventures | San Juan, Puerto Rico | Seed | 1 | 1 | — | Mar 2026 | 8 |
| 64 | ACE | Seed | 1 | 1 | — | Jun 2014 | 9 | |
| 65 | Smart Money Ventures | Sao Paulo, Brazil | Seed | 1 | 1 | 1 | Mar 2022 | 7 |
| 66 | Inter-American Development Bank | Washington, United States | Series A | 1 | 1 | — | Apr 2022 | 6 |
| 67 | Scalexopen | Sao Paulo, Brazil | Seed | 1 | 1 | 1 | Feb 2022 | 6 |
| 68 | Equity Rio | Rio de Janeiro, Brazil | Seed | 1 | 1 | — | Mar 2022 | 5 |
| 69 | Innova.ventures | Germany | Series A | 1 | 1 | — | Jan 2022 | 5 |
| 70 | Savia Ventures | Santiago, Chile | Seed | 1 | 1 | — | Mar 2026 | 4 |
| 71 | Canary | New York City, United States | Series A | 1 | 1 | — | Oct 2021 | 2 |
| 72 | Sunna | Seed | 1 | 1 | 1 | Mar 2026 | 2 | |
| 73 | Pier | United States | Series A | 1 | 1 | — | Jun 2022 | 1 |
| 74 | ATLANTICO | Luanda, Angola | Series A | 1 | 1 | 1 | Oct 2021 | 1 |
| 75 | Agrolend | Sao Paulo, Brazil | Series A | 1 | 1 | — | Jun 2022 | 1 |
| 76 | Thomas Publishing Company | New York City, United States | Series A | 1 | 1 | 1 | Jun 2018 | 1 |
Head office of the investors on this page.
Rounds by stage — where in a company's life this money arrives.
Total disclosed size of each round, not one investor's share.
How active this market has been.
B2B E-Commerce companies head-officed in Sao Paulo that took money from these investors.
| Company | Backers | Rounds | Disclosed | Latest round |
|---|---|---|---|---|
| Nuvemshop nuvemshop.com.br |
15 | 25 | $5.6B | Series E+ Aug 2021 |
| Inventa inventa.shop |
13 | 27 | $901.9M | Series B Apr 2022 |
| BackChannel backchannel.com.br |
9 | 9 | $43.2M | Seed Mar 2026 |
| Arado arado.com.br |
8 | 10 | $102M | Series A Apr 2023 |
| Mercê do Bairro mercedobairro.com |
8 | 8 | $75M | Series A Oct 2021 |
| Dolado dolado.com.br |
6 | 6 | $60M | Series A Apr 2022 |
| Praso praso.com.br |
6 | 6 | $55.8M | Series A Aug 2023 |
| Oico oico.com.br |
6 | 8 | $30.7M | Series A Jan 2022 |
| Cross Commerce Store crosscommercestore.com |
5 | 5 | $14.8M | Seed Dec 2021 |
| Mecanizou mecanizou.com |
4 | 4 | $58M | Series A Mar 2023 |
| Zax zaxapp.com.br |
4 | 4 | $24M | Series A Oct 2021 |
| Sooper sooper.com.br |
3 | 3 | $3.3M | Series A Jan 2022 |
| Vesti vesti.com.br |
3 | 3 | $1.2M | Seed Mar 2022 |
| Gaveteiro gaveteiro.com.br |
2 | 2 | $7.8M | Series A Jun 2018 |
| Mercado Eletrônico me.com.br |
2 | 2 | — | PE Jun 2014 |
| NetFoods netfoods.com.br |
1 | 1 | $592.2K | Seed Feb 2022 |
| Pantore pantore.com.br |
1 | 1 | $125K | Seed Feb 2022 |
| Miggos miggos.com |
1 | 1 | $125K | Seed May 2022 |
| VaiVolta vaivolta.com.br |
1 | 1 | $100K | Seed Nov 2014 |
| 99Biz 99biz.com.br |
1 | 1 | — | Seed Jun 2014 |
| Orbia orbia.ag |
1 | 1 | — | Seed Apr 2022 |
| Date | Investor | Company | Stage | Round size |
|---|---|---|---|---|
| Mar 2026 | Cathay Innovation | BackChannel | Seed | $4.8M |
| Mar 2026 | Accion | BackChannel | Seed | $4.8M |
| Mar 2026 | Norte Ventures | BackChannel | Seed | $4.8M |
| Mar 2026 | SunnaLED | BackChannel | Seed | $4.8M |
| Mar 2026 | Positive Ventures | BackChannel | Seed | $4.8M |
| Mar 2026 | Morro Ventures | BackChannel | Seed | $4.8M |
| Mar 2026 | Preface Ventures | BackChannel | Seed | $4.8M |
| Mar 2026 | IGNIA | BackChannel | Seed | $4.8M |
| Mar 2026 | Savia Ventures | BackChannel | Seed | $4.8M |
| Aug 2023 | Iporanga Ventures | Praso | Series A | $9.3M |
| Aug 2023 | Base Partners | Praso | Series A | $9.3M |
| Aug 2023 | Valor Capital GroupLED | Praso | Series A | $9.3M |
| Aug 2023 | Endeavor Brasil | Praso | Series A | $9.3M |
| Aug 2023 | NFXLED | Praso | Series A | $9.3M |
| Aug 2023 | Formus Capital | Praso | Series A | $9.3M |
| Apr 2023 | Globo Ventures | Arado | Series A | $12M |
| Apr 2023 | Syngenta Group | Arado | Series A | $12M |
| Apr 2023 | Valor Capital Group | Arado | Series A | $12M |
| Apr 2023 | SP Ventures | Arado | Series A | $12M |
| Apr 2023 | Acre Venture PartnersLED | Arado | Series A | $12M |
B2B E-Commerce investors in other cities
Other markets in Sao Paulo