Microsoft Ventures, the corporate venturing unit of software provider Micosoft, has partnered Brazil-based investment firm Mindset Ventures to back 10 international startups.
The initiative will invest between $100,000 and $150,000 in graduates of the Microsoft Accelerator program from Tel Aviv, Israel, and Seattle in the US that have “market potential in Brazil”.
Daniel Ibri, managing partner of Mindset Ventures and CEO of accelerator network Acelera Partners, said: “We will prioritise international startups with ideas that can contribute to the development of critical areas in Brazil such as agribusiness, fintech, healthcare and smart cities.”
Franklin Luzes, chief operating officer of Microsoft Participações, the firm’s local operation, added: “Brazil is a huge market, and one of the biggest smartphone markets.
“Our culture is open-minded to new trends, making Brazil the perfect location for international startups to test their own apps before exploring new markets.”