Corporate venturing activity is booming in Latin America — and women are playing an increasingly large role in that ecosystem.
Women account for just 15% of senior decision-makers at corporate investment units, about the same gender balance as in the venture capital industry overall. The big question is whether that ratio is changing as more women come up the ranks of the profession.
In Latin America this appears to be the case. Last year when we first started creating a list of women in CVC, we initially found around 40 women to highlight. This year, partly because we had so much enthusiastic help in growing this list, we have more than 200 names, too many to write individual profiles for. Many of them will be at our corporate venture event in Sao Paulo this week.
We are sharing this updated list with you now.
“There are more women getting into corporate investment roles but it is still more of a man’s job,” says Julianna Innecco, head of CVC investment at Torq Ventures, a fund set up by Brazilian software developer Sinqia. “But women are supporting other women, helping them become part of this world.”
Innecco, an engineer by training who came into corporate investing via a series of very hands-on operational roles — including some time at a startup — is a good example of the new generation of women who are taking leading roles.
See also:
Women to watch in CVC in the DACH region
Standout women in Asian corporate venture
Women in CVC on the US East Coast
[If we have missed anyone off this list, please let us know. This is a list we want to continue to grow].
Julianna Innecco, head of CVC investment at Torq Ventures
Like many of the best corporate investors, Juliana Innecco, head of CVC investment at Torq Ventures, comes from an operational background. She worked as an engineer on environmental projects and at a startup on everything from product management to helping with fundraising and signing partnership deals.
It is this background of diverse roles that gives Innecco a unique perspective to the team, which invests in startups at Brazilian financial software company Sinqia.
“I can talk to the startups and understand a little more deeply about the product and the technology, and I also understand numbers and make connections with the business,” she says.
After seven years in engineering Innecco transitioned to product managing software development. “I don’t like to stay in my comfort zone,” she says. Next came an immersion in the startup world as she became a product manager for Brazilian startup Flix. While there she became drawn — as often happens at startups — into everything at the business from fundraising to signing partnership deals.
“It gave me an understanding of startups and the innovation world,” says Innecco. Then followed a role on the corporate side of the table as Innecco joined French digital payments company Worldline. She says she “fell in love” with the work and went on to join Sinqia, which builds software for large financial institutions. At first, she ran the acceleration program and innovation labs, but after Torq Ventures added a BRL 50m ($9.4m) investment fund last year, she became involved in that side as well, becoming head of investment.
Innecco is part of a team of eight people at Torq Ventures. Sinqia has invested directly in three startups: Celcoin, Cashway and Data Rudder. It is also a limited partner in three VC funds. Through these it has a stake in around 95 startups.
“I had women help me get here, it is my obligation to give something back.”
Torq Ventures is focused on the next generation of fintech companies — blockchain, NFT and tokenisation — as these are where Sinqia’s clients seek to build capability.
The fund always aims to develop partnerships with the portfolio companies.
“We have a very clear understanding about our role as investors,” says Innecco. “It’s important to have some kind of synergy. We have to understand if together we can address some pain point for clients.”
The standard plan is to run a proof of concept with all the portfolio companies, she says. Most members of the innovation team focus on helping portfolio companies invest with Sinqia.
Innecco mentors other women through her involvement in “Mulheres no Comando” — Women in Charge— a networking and career development organisation.
“I had women help me get here, it is my obligation to give something back,” she says.
Victoria Akerman, scouting and strategic alliances head at Globant Ventures
Victoria Ackerman is in charge of scouting and strategic alliances at Globant Ventures, the corporate venture arm of Argentina-based software development corporation Globant.
Founded in 2018, Globant Ventures has 13 companies in its portfolio. The unit’s most recent investments include the AI voice customer communication platform Vozy, which has raised $3.1m in funding over eight rounds, and EPICA, a data generation platform that received a $1m investment from the venture firm.
Akerman has scouted tech companies for Globant Ventures for more than two years. She was also chief of operations at the business consultancy firm Innlight.
Priscila Anjos, head of innovation, culture and transformation at Santander Brasil
Priscila Anjos is the head of innovation, culture and transformation at Santander Brasil, the Brazillian division of Spain-based financial services company Banco Santander.
Founded in 1857, Santander helps businesses and individual clients with banking payments, financing and banking solutions. The organisation has around 30 companies in its portfolio including Sweden-based electric marine motor startup Zparq, which raised $2.6m in a seed round in 2023.
Anjos began her stint at Santander Brasil in 2011 as a project manager and progressed to portfolio manager a few months later. She has several other positions including superintendent of technology operations. She accepted her current position earlier this year.
Before joining Santander, Anjos spent two years as a project manager at the banking services company ABN Amro Brasil and spent another two years as a project analyst at T-Systems, a subsidiary of telecommunications provider Deutsche Telekom.
Bernardita Araya Kleinsteuber, manager at CMPC Ventures
Bernardita Araya Kleinsteuber is the manager at CMPC Ventures, a subsidiary of the Chile-based sanitary paper products corporation CMPC.
Founded in 2020, CMPC Ventures invests in companies focusing on technology and renewable energy. The firm has two companies in its portfolio: Boxia, a Mexican sustainable packaging shipment company, and Chile-based sustainable wood producers Strong By Form, which raised $240,000 in a seed round in 2021.
CMPC is a $5.1bn corporation that is integrated with the forest industry. It has five business centres focusing on forestry, pulp, paper, paper products and tissue, with operations in Chile, Argentina and Peru.
Kleinsteuber began her career at CMPC Ventures in 2020. Prior to this, she worked for five years at the Chile-based venture capital firm Aurus Captial as a senior associate. She was the R&D director for four years at Corporación Farmacéutica Recalcine, one of Chile’s largest pharmaceutical companies.
Marina Cassino de Almeida, senior manager at Natura Startups Ventures
Marina Cassino de Almeida is the senior manager of startup ventures at Brazilian cosmetics company Natura & Co.
Founded in 1969, Natura invests in consumer and beauty-related startups across the globe. In 2019, the corporation invested up to $5m to support beauty and wellness brands in Europe and the US through venture fund Dynamo Beauty Ventures.
The company launched the corporate venture capital fund Fable Investments in 2021. Fable Investments has four companies in its portfolio, including the UK perfume store Perfumer H, and the UK male-focused sex products startup Maude, which raised $5.8m in a series A round in 2021.
Natura is a $6.4bn corporation that sells cosmetics such as makeup, soaps, and oils in Latin America, and has sites in Brazil, Argentina, Peru and Bolivia.
Almeida’s career at Natura & Co spans more than 10 years, where she worked for the company’s division Natura Cosmetics in various positions for eight years.
She then moved to Natura & Co working as the head of the innovation lab for the LatAm division before progressing to senior manager of venture startups.
Marina Bacchereti Bueno, senior director and head of strategy, corporate venture capital, M&A and post-merger integration at Grupo SBF
Marina Bacchereti Bueno is the senior director and head of strategy, corporate venture capital, M&A and post merger integration at Grupo SBF, a Brazil-based shoe store company.
Founded in 1981, the company offers footwear, clothing equipment and accessories. Grupo SBF has a corporate firm dubbed SBF Ventures and has invested in several companies whilst also acquiring five startups, including dance and fitness company FitDance in 2022.
Bacchereti Bueno has held her current position at Grupo SBF for two years. Prior to this, she spent a year as the head of strategy, business development, operations and financial director at SBF Ventures and spent seven years at retail company Centuro, holding positions such as post merger integration director and controller, and strategic planning director.
Livia Carbonell, head of the investment division at ApexBrasil
Livia Carbonell is the head of the investment division at ApexBrasil, the Brazilian headquartered trade and exportation company.
Launched in 1997, ApexBrasil aims to promote Brazilian exports abroad and promote the country’s products and services to attract foreign investment. In 2022, the agency alongside the Brazilian Ministry of Economy and Brazilian Ministry of Foreign Affairs debuted its Startup Outreach Brasil Program. The programme selected 216 unique startups to provide innovative solutions to help the business scale internationally.
The Startup Outreach Brasil Program portfolio includes smart packaging management platform Reciclapac and the environmental management consulting company Verde Ghaia.
Carbonell joined ApexBrasil in 2021 starting as a business analyst at Expo 2020 Dubai. She later progressed to an investment officer before accepting her current position in 2022. Beforehand she spent seven years as an investment consultant at the Ministry of External Relations.
Ariadne Cavallero, partner at SP Ventures
Ariadne Cavallero is a partner at SP Ventures, the Brazilian early-stage fund that invests in technology solutions in the agricultural sector.
Founded in 2007, SP Ventures is backed by the German chemicals company BASF. The firm focuses agricultural-based startups in Latin America.
The firm has around 37 companies in its portfolio and has overseen exits such as Brain.ag, a Brazilian agricultural fintech which was acquired by financial services conglomerate Experian for an undisclosed sum, and Geofunsion, the Brazil-based geographic market intelligence company, which was acquired by venture firm DFGC Investimentos.
Other investments include the animal biotech management group Decoy, which raised $1.7m in an undisclosed funding round in 2022, and biological pesticides developer Genica, which completed a series A funding round this year, bringing its total funding to $1.88m.
Cavallero sits on the board of several startups including agricultural food inspection service ZoomAgri.
Before joining SP Ventures, Cavallero worked at Swiss agrichemical corporation Syngenta for nine years, where she held positions such as project manager and digital agricultural manager.
Pamela Ceballos, senior director of digital partnerships of LatAm fintech and ventures at Visa
Pamela Ceballos is the senior director of digital partnerships for the LatAm fintech and ventures division of the US financial services corporation Visa.
Visa has opened several divisions across the globe to boost its venture capital programme, with Ceballos working for the company’s Mexico-based division. Visa Ventures, which was founded in 2011, has more than 38 companies in its portfolio and has overseen the exit of 16 of these startups.
The firm’s most notable Latin American investments include Brazil-based digital banking platform Dock, which landed an undisclosed sum of funding from Visa Ventures in 2018 and recently closed $110m of funding, bringing its total valuation to more than $1.5bn. In 2021, the firm also invested in Mexican open finance startup Belvo in a series A $43m funding round.
Visa is a $494.3bn conglomerate known for its electronic fund transfers via credit or debit cards. It is considered to be the second-largest payment organisation in the world, and recently acquired open banking platform Tink.
Ceballos had worked for Visa for more than six years before landing her current position early this year.
Marcella Ceva, chief investment officer at WE Ventures
Marcella Ceva is the chief investment officer at WE Ventures, the Brazilian venture capital firm backed by technology conglomerate Microsoft.
Founded in 2019, WE Ventures invests in female-led technology startups in Latin America. The firm has made four investments including Brazilian digital advertising platform Mobees, which raised $2m in three rounds, and packaging monitoring platform PackID, which closed a $196,000 investment with WE Ventures in 2020.
The WE fund emerged in Microsoft to support gender diversity startups in the Latin American region and to further bolster strategic capital and technological development in the region.
Ceva joined WE Ventures in 2020. She previously worked for the strategic advisory service G5 Partners, where she was a senior associate for six years, and was a junior associate for two years at the law firm Derraik & Menezes Advogados.
Maria de los Angeles Romo, director of corporate venturing at SQM
Maria de los Angeles Romo is the director of corporate venturing at the Chile-based chemicals company Sociedad Quimica y Minera (SQM).
Founded in 1968, SQM is a $27.2bn corporation and is considered to be the biggest lithium producer in the world. SQM opened its corporate venture capital division earlier this year and plans to focus on funding in Chile, particularly in the lithium industry. The company recently announced a plan to invest $900m in this sector.
SQM’s most notable investment is in Chinese chemical mining company Tianqi Lithium, which raised $1.7bn in an IPO after being listed on the Hong Kong Stock Exchange.
Romo has worked for the corporate venture division of SQM since its creation, leading fintech venture investments. She previously worked for two years as the startup manager at Chile de Corfo, a subsidiary of the governmental corporation Corfo.
Raisa Fontenele, associate at Citrino Ventures
Raisa Fontenele is an associate at Citrino Ventures, the corporate venture arm of the Brazil-based software corporation TOTVS.
Founded in 2022, the firm invests in technology startups and manages some of the most prominent software and industrial players in Latin America.
Citrino Ventures has invested in two companies: Brazilian industrial software developer Traction, which raised $15m in a series A round led by Siemens-affiliated VC Next 47 in 2022, and US technology recruitment platform Intera, which raised $2.1m.
TOTVS is a $2.9bn company formed from a merger between two software companies, Microsiga and Logocenter. Since then, the company has landed 66 units and 11 centres throughout Brazil.
Fontenele began her stint at Citrino Ventures this summer. Previously, she served one year as a business analyst at the Brazilian gasoline service station company Vibra Energia.
Karime Hajar Alves, investment manager at BASF Ventures
Karime Hajar Alves is an investment manager at BASF Ventures, the corporate venture arm of the German multinational chemicals corporation BASF.
Founded in 2001, BASF Ventures has offices based across the globe. Alves works in the company’s Brazilian division. The firm invests in young companies focusing on disruptive technologies and has 40 companies in its portfolio. It has overseen 30 exits.
These portfolio companies include US biotechnological company Bota Biosciences, which has raised $137m, and UK mining industry solutions provider IntelliSense.io, which has operations in Chile and Brazil.
In the Latin America region, BASF Ventures runs SP Ventures, a fund founded in 2007 that provides investment in agriculture and food tech startups in the region. In 2019, BASF Ventures also announced the first close of its fund AgVentures to further support agricultural investment.
BASF is a $90.2bn corporation and is considered to be the largest chemical company in the world. The company comprises subsidiaries and joint ventures in 80 countries and is listed on the Frankfurt, London and Zurich stock exchanges.
Alves has worked for BASF Ventures since early 2021. She previously worked as an associate director for venture firm Brasil Venture Debt and served at Brazilian software company TOTVS as an M&A manager for two years.
Graciete de Lima, head of corporate venture capital at Positivo Tecnologia
Graciete de Lima is the head of corporate venture capital at Positivo Tecnologia, a Brazil headquartered computing business and daughter company of education holding company Grupo Positivo.
Founded in 1989, Positivo Tecnologia is known for manufacturing and selling computers and PCs. The company invests in technology in a wide range of sectors including education and agriculture. The corporation has invested in eight startups including farming management and data platform Agrosmart.
Lima has headed Positivo Tecnologia’s corporate venture division for over five years. Alongside this, she is also the founder of IT services provider E3 Negócios. Her position at Positivo Tecnologia has allowed Lima to be a board member for several startups including Hitech Electric and Lupeon.
Clorinda Mántaras, managing partner at Sancor Seguros Ventures
Clorinda Mántaras is the managing partner at Sancor Seguros Ventures, the corporate venturing arm of the Argentina-based insurance provider Grupo Sancor Seguros.
Launched in 2021, Sancor Seguros Ventures invests in disruptive technology startups, insurtech, fintech and health-tech companies in Latin America. The firm has 12 companies in its portfolio including agtech platform SIMA, which closed a $2m round this year, and digital agriculture spinout Agree, which received $2m from Sancor Seguros.
Grupo Sancor Seguros is the largest insurance holding company in Argentina, providing protection for around seven million policyholders.
Mántaras has worked for Grupo Sancor Seguros for eight years. She has held various positions such as director of innovation and transformation, and director of services and technology, before she moved to the investment role.
Prior to Grupo Sancor Seguros, Mántaras worked for HSBC as the team leader for the consumer unit and as a corporate credit analyst. She also served nearly 15 years at the Argentina-based insurance company Sancor Coop de Seguros, where she offered strategic solutions for the agro-industrial, commerce and educational sectors.
Ana Maury Aguilar, investment operator at AC Ventures
Ana Maury Aguilar is an investment operator at the Mexican corporate venture capital fund AC Ventures, the venturing arm of the beverage company Arca Continental.
Arca Continental is a $1.5bn subsidiary of US beverage conglomerate The Coca-Cola Company. The company serves more than 123 million people in Latin America and was merged with the Honduras-based conglomerate Grupo Continental in 2011.
Founded in 2018, the fund invests globally in startups and venture capital funds, focusing on retail, logistics and supply chain services, fintech, and renewable materials. The fund has three companies in its portfolio and has invested in startups such as the Peru-based electronic menu board OlaClick, which raised $1.5m in a seed round in 2021, and Colombia-based truck deliveries service Lifitit, which raised $22.5m in a series B round in 2020.
Aguilar has been a part of the investment team at AC ventures for two years. Previously, Aguilar worked as an M&A analyst for the UK financial consulting service EY. She also served as an investment analyst for the Mexican investment management firm Alsis Funds in 2019.
Flávia Medina, head of innovation at Cargill
Flávia Medina is the head of innovation at Cargill Latin America.
Founded in 1895, Cargill is a US-based global food and agriculture corporation. The company has launched several funds and venture capital firms including Cargill Ventures which has so far invested in three companies, including Latin American-based agricultural digital trading commodity platform Grão Direto.
Cargill also acquired Colombia-based poultry and protein processor Campollo for an undisclosed sum in 2018.
Medina was promoted to her current position in February 2023. She was previously Cargill’s application manager of the bakery, confectionery and sugar division for five years and was also the bakery lab supervisor from 2014 to 2017. Before joining Cargill, Medina spent four years at wheat manufacturing corporation J.Macêdo as new business and innovation coordinator, and product research and development specialist.
Fernanda Moino, head of innovation at Leroy Merlin
Fernanda Moino is the head of innovation at Leroy Merlin, a France-based gardening and home improvement retailer operating in South America.
Founded in 1923, the company invests in a range of sectors in IT, education and real estate. Leroy Merlin’s investments include France-based educational content provider digiSchool which has since raised $20.9m in funding.
Moino began her stint at Leroy Merlin in 2020 as a UX Design lead. A year later she progressed to her current position where she works closely with startups and oversees contract management.
Prior to this, Moino spent six years as an account manager at Tribal World, a subsidiary of media corporation Omnicom Group. She also spent a year at France-based housing and decoration company Zôdio where she was the head of marketing, communications and relationships.
Carolina Morandini, open innovation and ecosystem lead at Accenture Brasil
Carolina Morandini is the open innovation and ecosystem lead at Accenture Brasil.
Founded in 2001, Accenture Brasil is a services company that provides digital, cloud and security solutions.
The company has invested in some 36 startups, the most recent being the India-based satellite manufacturer Pixxel.
Morandini is new to the Accenture Brasil team, having joined in April 2022. She previously served 10 years as head of investment and portfolio management and head of startups at Wayra Brasil, a division of the telecommunications innovation hub Wayra, which is backed by Telefonica.
Patrícia Pacheco Zanlorenci, chief executive at Vellore Ventures
Patrícia Pacheco Zanlorenci is the chief executive at Vellore Ventures, the corporate venture capital arm of consumer goods company Grupo Vellore.
Founded in 2022, the firm was born from a partnership between venture firm FCJ Venture Builder and Grupo Vellore. Vellore Ventures typically invests in startups specialising in construction technology, retail technology and open innovation, including financial technology company ReKeep.
Zanlorenci has been the unit’s CEO for nearly two years. She previously spent six years at financial consultancy company Clarté Consultoria acting as the founder and partner. In addition, Zanlorenci spent two years at Maersk Brasil Brasmar Container Inland Services, a subsidiary of transportation corporation A.P Moller, where she acted as a finance coordinator and finance assistant manager.
Ana Paula Debiazi Vicente, CEO at Leonora Ventures
Ana Paula Debiazi Vicente is the chief executive at Leonora Ventures, the corporate venture capital of Brazil-based stationery producer and distributor Grupo Leonora.
Leonara Ventures was established in 2021 by its parent company and venture builder FCJ Venture Builder. The firm invests in RetailTech, LogTech and EdTech with 19 companies in its portfolio including Brazil-based project management and talent retention platform Cizino.
Vicente has held her current position at Leonora Ventures for two years. Prior to this, she spent nearly two years as a council member at Vellore Ventures, the corporate venture capital of electric utility manufacturer Grupo Vellore, and spent two years as a director of operations at 1Doc, a software focused communication and education platform.
Thais Perico, beverage fund investment principal at ZX Ventures
Thais Perico is the investment principal of ZX Ventures Beverage fund, an investment arm of the Belgian drinks company AB InBev.
ZX Ventures has some 36 companies in its portfolio, including the UK beverage service Jamacia Rum Vibes and the US coffee distributor Super Coffee, which raised $106m in a series C round in 2021 with participation from 7-Ventures, the corporate arm of the convenience store chain 7-Eleven.
AB InBev is a $263bn corporation. Its Brazilian division, which Perico works for is known as Ambev. AmBev holds a dominant position in Latin America and is listed on the Brazil Stock Exchange and São Paulo Stock Exchange.
Perico has worked for the Beverage Fund for over a year, starting as the fund’s investment associate and then progressing to her current role. Prior to this, she worked at BASF, the German chemicals company, working as an investment manager and Brazil pensions fund board member.
Paula Puzzi, venture business development manager at Suzano Ventures
Paula Puzzi is the venture business development manager at Suzano Ventures, the corporate venture arm of the Brazilian pulp and paper manufacturer Suzano Papel e Celulose.
Launched in 2022, Suzano Ventures is a $70m fund that invests in early to late-stage startups focusing on deep tech, agroforestry and sustainable packaging.
The fund has yet to make any investments, but Suzano invested $6m in Spinnova, the Finnish textile producer, in 2017 and plans to invest $21m in Spinnova’s first commercial facility.
Valued at $11.5bn, Suzano Papel e Celulose is the largest paper and pulp company in Latin America and is the largest producer of eucalyptus pulp.
Puzzi started her position at Suzano Ventures earlier this year. Prior to this she spent six years working as the corporation’s business manager and global product and sustainability manager. Before that, she served 11 years at the German stationery company Faber-Castell where she worked as a senior market analyst and R&D researcher.
Gabriela Ruggeri, managing partner at Kamay Ventures
Gabriella Ruggeri is the managing partner at the Argentina-based corporate venture capital fund Kamay Ventures.
Formed in 2019, Kamay Ventures focuses on early-stage technology startups spanning sectors such as the financial and environmental industries.
The firm has around nine companies in its portfolio, including the US recycling technology company Arqlite, which has raised $2.6m in funding, and the Mexico-based formal credit support platform Altscore, which has raised $1.9m with investment from Techstars Boulder Accelerator.
Kamay Ventures has also entered into partnerships and is backed by various conglomerates including IBM, Amazon and Oracle Corporation.
Ruggeri has worked for Kamay Ventures for more than three years, where her goal is to propel and accelerate business in Latin America. Prior to this, she worked as a managing partner for the Argentina-based venture capital firm Overboost for six years and was the chairwoman for five years at US software development company N5 Now.
Licia Souza, CEO of WE Impact
Licia Souza is the founder and chief executive officer of WE Impact, the Brazilian subsidiary of Microsoft-backed venture firm We Ventures.
We Impact is a venture builder that invests in female-led technology startups. It provides mentoring, networking and investment. Investments are supported by Microsoft and Singapore-based multinational electronics manufacturing service Flex.
The portfolio includes startups such as the Brazilian software-as-a-service learning platform Pontue, which has received non-equity assistance funding, and Brazilian mobility platform Venuxx.
Souza founded We Impact in 2019. She previously worked for eight years at the Chile-based textiles company La Estampa, where she was executive manager and legal consultant.
Erica Teles de Menezes, head of corporate venture capital at Eurofarma
Erica Teles de Menezes is the head of corporate venture capital at Neuron Ventures, a subsidiary of the Brazilian biopharmaceuticals corporation Eurofarma.
Founded in 2016, Neuron Ventures invests in healthcare-based startups, including Psicologia Viva, a Brazil-based mental health platform.
Eurofarma is a $1bn healthcare corporation that specialises in generics, oncology and veterinary medicine. In Brazil, the company represents 66% of the total market and is responsible for 443 products in the region.
Menezes has held her position for over a year. She previously worked at L’Oreal for four years including two years as senior open innovation and digital manager. She also held various marketing roles at Mondelez International.
Maria Tereza Azevedo, investment leader at SoftBank Investment Advisers
Maria Tereza Azevedo is the investment leader of the Brazilian division of SoftBank Investment Advisers, a subsidiary of the Japan-based conglomerate SoftBank Group.
Founded in 2017, SoftBank Investment Advisers manages SoftBank Vision Fund, the world’s largest technology-focused investment fund. There are some 298 companies in the portfolio and the fund has had almost 100 successful exits. Its most notable is Blinkit, the India-based online store that was acquired by the Indian restaurant aggregator Zomato for $568m
Notable Latin American investments include Rappi, the Colombian on-demand delivery service, which raised $2.3bn in financing and the Brazilian secured lending service Creditas, which recently raised $200m, bringing its total financing to $4.8bn.
SoftBank Group is a $61.9bn corporation that specialises in multiple fields including finances, energy, technology and telecommunications. It is the 36th largest company in the world and the second largest publicly traded company in Japan.
Azevedo has worked for SoftBank Investment Advisers for just under a year. She sits on the board of various startups including the Brazilian fitness company Alice, and the educational platform Descomplica. Previously, she worked as the head of LatAm TMT equity research at Banco Santander for nearly two years and was an equity research analyst for eight years at financial corporation UBS.
Marie Timoner, head of business development at RX Ventures
Marie Timoner is head of business development at RX Ventures, the corporate venture fund of the Brazilian department store company Lojas Renner.
RX Ventures was founded in 2020 with $155m to invest in startups in the fashion, retail and ecommerce sectors. The fund recently made its first investment in the Brazilian logistics automation platform Logstore.
Lojas Renner has acquired two companies, with its most recent being the technology logistics site Uello and online clothes selling store Repassa.
The $2bn corporation is the largest department store in Brazil and was the first Brazilian corporation with 100% shares traded on the stock exchange.
Timoner has worked for Renner for more than a year. She previously worked at US IT consulting firm Oracle for four years as a sales enterprise account executive and led the LatAm division of Oracle’s startup programme.
Gabriela Toribio, head of venture capital at Companhia Siderúrgica Nacional
Gabriela Toribio is the head of venture capital at the Brazil-based steel production company Companhia Siderúrgica Nacional (CSN).
CSN operates its venture deals through its innovation arm, CSN Inova, which was founded in 2007. The firm invests in startups focusing on industrial technology and has four active companies in its portfolio. These include Brazilian online construction management marketplace Oico, which recently raised $5.39m in seed funding this year, and the US water electrolysis renewable systems generator 1s1 Energy, which raised $1m in a seed round in 2021.
CSN is a $392m corporation and is considered the largest steel industry producer in Latin America. In recent years, the company has committed to promoting decarbonisation. It recently signed a memorandum of understanding with other energy and industrial corporations such as Shell and Itochu to reduce their emission rates.
Toribio has held her position at CSN for three years. Prior to this, she worked for six years at the Brazilian venture firm Votorantim, where she held positions such as innovation manager and senior consultant.
Raiza Welsch Ferraz, digital transformation and open innovation lead at PepsiCo
Raiza Welsch Ferraz is the digital transformation and open innovation lead at PepsiCo, a US-based multinational food, snack and beverage corporation.
Founded in 1919, PepsiCo invests in startups focusing on beverages, food, environmental services and eCommerce platforms. PepsiCo has invested in 84 startups including Germany-based drinking bottle system and scented water provider Air Up, which has raised $72.2m in total funding.
Welsch Ferraz joined PepsiCo in 2019 as a research and development specialist. She later progressed to research and development manager before accepting her current position in 2022, which involves communication with startups, relationship creation and investment identification.
Prior to this, Welsch Ferraz spent three years at food and beverages company Mãe Terra Produtos Naturais e Orgânicos as a senior R&D analyst and R&D junior analyst.
Other notable women
| Name | Position | Company | Company description | Years at company | Country |
|---|---|---|---|---|---|
| Adriana Cabalanzola | Commerical development for climate tech solutions | Baker Huges | Oil field services company | N/A | Brazil |
| Alana Zacharias | Strategic planning & M&A manager | Nestlé Brasil | Nutrition and healthcare products provider | 1 | Brazil |
| Alied Mônica Camana | Associate | EDP Ventures | Corporate arm of electric power distribution company EDP | N/A | N/A |
| Aline Passos Ficher | Associate | Oria Capital | Growth stage investment firm | 1 | Brazil |
| Amanda Galvão | Innovation & business transformation | Vale | Global mining company | 1 | Brazil |
| Ana Carolina Bastos | Planning & strategy executive manager, M&A and venture capital | MF92 (Minerva Foods) | Corporate subsidiary of corporate livestock group Minerva Foods | 3 | Brazil |
| Ana Carolina de Pierro Bruno | Innovation lead & emerging platforms lead | Vale | Global mining company | 3 | Brazil |
| Ana Carolina Mazzariolli | Manager of strategic projects and new ventures | Telefonica | Telecommunications corporation | <1 (10 months) | Brazil |
| Andrea Andrade de Oliveira Kestenbaum | Co-founder and CEO | Positive Ventures | Early stage venture capital firm | 8 | Brazil |
| Andrea Simoes | Digital transformation analyst | ArcelorMittal Brasil | Steel production manufacturer | 1 | Brazil |
| Ângela Ximenes | Executive superintendent | ABVCAP | A non-profit organization that represents the private equity and venture capital industry | 16 | Brazil |
| Armandina Formoso | Head of corporate innovation and new business | BRQ Digital Solutions | Company that supports the digitization of banks | 2 | Brazil |
| Barbara Alvim Raymundo | Partner | Oria Capital | Growth stage investment firm | 5 | Brazil |
| Bianca B. Pessoa | Expansion manager of finance and health | Blip | Intelligence chat and messaging platform | 1 | Brazil |
| Bianca Martinelli | Partner | Alexia Ventures | Early stage series A investor | 2 | Brazil |
| Bruna Constantino | Co Founder, CMO and impact chief officer | Positive Venture | Early stage venture capital firm | 8 | Brazil |
| Camila Farani | Board member and angel investor | Gávea Angels /MIA | Angel investment firm | 9 | Brazil |
| Camila Martes | Partner VC | Mattos Filho | Law firm | 3 | Brazil |
| Camila Maximo Davoglio | Vice president | Sou Segura | An insurance company | 5 | Brazil |
| Camila Petignat | Partner | The Yield Lab | Investor in agriculture startups | 2 | Argentina |
| Camila Potenza | Co-founder and partner | Mindset Ventures | Venture firm that invests in the US and Israel | 7 | Brazil |
| Camila Sangali | General partner | Igah Ventures | Venture capital firm | 5 | Brazil |
| Carla Frontini | Digital open innovation lead | Novo Nordisk | Pharmaceutical corporation | <1 (2 months) | Brazil |
| Carol Strobel | Partner | Antler Brazil | Business incubator | 1 | Brazil |
| Carolina Andrade | Partner – COO and CCO | Nucleo Capital | An independent asset manager | 6 | Brazil |
| Carolina Araripe | Innovation coordinator | Dexco | Reconstituted wood product manufacturing company | 2 | Brazil |
| Carolina Evagelidis | Head of content enablement | AEVO | Perps trading platform | 3 | Brazil |
| Carolina Fouad Kamhawy | Innovation manager and women in tech at Innovation Hub Insper | Insper | A private university | 2 | Brazil |
| Carolina Gilberti Chaves | CEO | Mubius Women Tech Ventures | Investor in tech startups headed by women | N/A | Brazil |
| Carolina Morandini | Open innovation and ecosystem leader | Accenture | Information technology services and consulting company | 1 | Brazil |
| Carolina Oliveira | Venture capital analyst | GR8 Ventures | An investment company focused on high growth and value generating tech startups | N/A | N/A |
| Caroline Arruda | Senior new business developer | ArcelorMittal (Açolab Ventures) | Venture firm of the steel manufacturing company | <1 (2 months) | Brazil |
| Caroline Renner | Account and relationship manager | StartSe | Connects a growing community of 120k entrepreneurs, investors, mentors, established corporations, | 2 | Brazil |
| Célia Hanako Kano | Co-CEO | Rede Mulher Empreendedora | Women’s venture capital networking company | 3 | Brazil |
| Clarissa Schmidt | Advisor / member of the Insurtech committee | Anjos do Brasil / Bossanova Investimentos | Investment company | 3 | Brazil |
| Clarisse Gomes | Sponsor STEAM and partner innovation & ventures | Deloitte | Financial services company | 2 | Brazil |
| Claudia Diniz | Innovation leader – Industry X Latam | Accenture | Information technology services and consulting company | 2 | Brazil |
| Claudia Yurico Hoshiba | Director of M&A, partnerships and strategic planning | B3 | Virtual assistance platform | N/A | Brazil |
| Catarina Crepaldi | Analyst | MSW Capital | Private equity and venture capital firm | 1 | Brazil |
| Cristiane Nascimento | Project manager | ABVCAP | A non-profit organization that represents the private equity and venture capital industry | 13 | Brazil |
| Cristiane Passos Moura | Director of technology and innovation | BIP Brasil | Business transformation consultancy | <1(10 months) | Brazil |
| Daniela Agostini | Coordinator of culture and innovation ecosystem | Torq Ventures By Sinqia | Corporate unit of the software company | 2 | Brazil |
| Daniela D’Ippolito | Director of strategic planning and M&A, alliances and partnership directors | BoaVista SCPC | Credit services provider in LatAm | 11 | Brazil |
| Daniela Viera Cox | Managing partner | Toolssearch | Investment company | 10 | Brazil |
| Dayana Louzada | Digital strategy manager | Suzano Ventures | Corporate venture arm of Suzano Papel e Celulose | 9 | Brazil |
| Dayane Ribeiro | Head of customer success | AEVO | Perps trading platform | 2 | Brazil |
| Debora Chagas | New business director | Numerik | Business consultancy firm | 1 | Brazil |
| Deia Gorayeb | Founder and CEO | ABC Capital Partners | Financial services and advisory company | 13 | Brazil |
| Erica Fridman Stul | Founding partner | Sororité | Angel investment group | 2 | Brazil |
| Estefany Medici de Castro | Head of innovation and strategy | Fortes Engenharia | Industrial construction company | 2 | Brazil |
| Eulália Greco | Event assistant | Apex Brasil | Export and trading company | 6 | Brazil |
| Fabiana Fagundes | Partner | FM/Derraik | Venture capital firm | 3 | Brazil |
| Fernanda Balian da Conceição | Innovation manager | Deloitte | Financial services company | N/A | Brazil |
| Fernanda Caloi | Director of special projects / business development | Latitud | Open investment ready company | 2 | Brazil |
| Fernanda Camargo | Founding partner | Wright Capital | Third party investment firm | 8 | Brazil |
| Fernanda Dauber | Partner and head of investor relations | Ventiur | Venture accelerator and investor | 4 | Brazil |
| Fernanda Dias | Project analyst | Tata Consultancy Services | Indian information technology company | 1 | Brazil |
| Fernanda Gottardi | Founding partner | GR8 Ventures | An investment company focused on high growth and value generating tech startups | 2 | Brazil |
| Fernanda Zaffari | Planning co-ordinator | Cia Zaffari | Subsidiary of Grupo Zaffari | 2 | Brazil |
| Flaviane Carbone Castro | Project manager | Deloitte | Financial services company | 2 | Brazil |
| Gabirela Diuana | Director of new products and innovation | Cogna Educação | Elementary and secondary schools company | 4 | Brazil |
| Gabriela Aguiar | Partnership development & community | Plug and Play Tech Center | Investment firm | 4 | Brazil |
| Gabriela Gonçalves | Founder and managing partner | Namari (Ex-Nilla Capital) | Credit solutions provider | 1 | Brazil |
| Gabriela Grossman | Private equity and venture capital analyst | Crescera Capital | Venture capital firm | 2 | Brazil |
| Giselle Estefano | Executive director | BAND | Radio and TV company | 3 | Brazil |
| Giulianna Kuratomi | Head of business development retail banking | Itau Unibanco | Financial services company | <1(9 months) | Brazil |
| Glaucia Guarcello | Consulting / lead partner / innovation & ventures | Deloitte | Financial services company | 5 | Brazil |
| Helena Bonna Brandão | Investment manager | Apex Brasil | Trade and exportation company | 8 | Brazil |
| Ilana Horta | Venture capital – innovation & new business development – market trend & strategy | Faber-Castell Brasil | Pen and pencil maker | 1 | Brazil |
| Ingrid Mondoni Martins | Partner success associate – Fintech & Insurtech | Plug and Play Tech Center | Investment firm | 1 | Brazil |
| Indianara Silva | Startup hunter | Valetec Capital | A firm focused on corporate venture capital | <1 (9 months) | Brazil |
| Izabel Gallera | Partner | Canary | Venture capital firm | 5 | Brazil |
| Jessica Adayris de Souza Popperl | Project analyst | Insper | A private university | N/A | Brazil |
| Josy Santos | Leader of the business, women and innovation unit | Semente Negócios | Business development programme | 3 | Brazil |
| Julia Aronis Cohen | Value creation manager | Raia Drogasil | Pharmacy chain | 3 | Brazil |
| Julia Harumi Uehara | Investment analyst | EDP Ventures | Corporate arm of electric power distribution company EDP | 1 | Brazil |
| Juliana de Andrade Sarilio | Strategic project coordinator (Corporate Venture Capital) | Banco do Brasil | Financial services company | 12 | Brazil |
| Juliana Noronha | Ecosystems @Accentures Open Innovation & Ecosystem | Accenture | Information technology services and consulting company | 1 | Brazil |
| Karina Frabetti | Strategy & open innovation | Comgas | Gas industry company | <1(10 months) | Brazil |
| Karina Saade | Managing director, country manager Brazil | Blackrock | Investment management company | 16 | Brazil |
| Katia Negreiros | Operating partner | CapSur Capital | LATAM growth equity investment company | 3 | Brazil |
| Lara Lemann | Co-founder and managing partner | Maya Capital | Venture capital firm | 9 | Brazil |
| Laura Constantini | Partner and co-founder | Astella Investimentos | Venture capital firm | 15 | Brazil |
| Laura Guaraná | Partner | Crescera Capital | Venture capital firm | 15 | Brazil |
| Laura Marchiori Schiavolin | Investment analyst | Indicator Capital | Venture capital firm | 1 | Brazil |
| Laura Oliveira de Medeiros | Senior innovation strategy analyst | EDP | Electric power distribution company | 1 | Brazil |
| Leila Orenstein | Partner | Gera Ventures | Venture firm that invests in early-stage education platforms | 11 | Brazil |
| Leticia Jorge | Innovation programme manager & squad lead | The Bakery Brasil | Corporate innovation company | 2 | Brazil |
| Letícia Setembro | Founder | SeekFutures | Innovation consultancy company | 3 | Brazil |
| Ligia Gutierrez | Business development / M&A | Loft | Real estate company | 2 | Brazil |
| Liliane Josua Czarny | Partner and CMO | ACG SA / Pagcorp | Payment technology company | 8 | Brazil |
| Livia Brando | Venture capital director | VOX Capital | Impact investment fund | 1 | Brazil |
| Livia Faria | Investment fund manager | BNDES | Public banking company | 14 | Brazil |
| Livia Hallak | Portfolio manager | Oxygea Ventures | Startups hub | <1 (2 months) | Brazil |
| Lorena Prates | Innovation reputation manager | AB InBev | Beverage company | 2 | Brazil |
| Lucia Hauptman | Founder and CEO | Prada Assesoria | Investment firm | 13 | Brazil |
| Luciana Antonini Ribeiro | Founding partner | EB Capital | Investment management firm | 6 | Brazil |
| Luciana Detoni | Head of EY Startup Hub | EY | Law firm | 2 | Brazil |
| Luciana Trindade | Compliance officer and investors relations | Oria Capital | Growth stage investment firm | 5 | Brazil |
| Luciana Zaroni | Partner | Wright Capital | Third party investment firm | 5 | Brazil |
| Lucilene Braganca | Digital project leader | Equinor | Oil and gas company | 5 | Brazil |
| Luiza Zambrana | CVC and M&A consultant | Niterra | Ignition and vehicle electronics supplier | <1(10 months) | Brazil |
| Marcela Monteiro Galeno | Strategy & BD leader – food solutions | Cargill | Food and agriculture corporation | 2 | Brazil |
| Maria Alice Frontini | President | angel investor | MIT Alumni Angels Brazil | Angel investment firm | N/A | Brazil |
| Maria Carolina Lacombe | Principal and director of community | Valor Capital | Cross border investment fund | 4 | Brazil |
| Maria Eduarda Branco | Head of open innovation | Grupo Raia Drogasil | Pharmaceutical company | N/A | Brazil |
| Maria Eduarda Falcão | Manager | Gera Venture Capital | Asset management company | N/A | Brazil |
| Maria Pia Zylberstajn | Integration & value creation senior manager | Mercado Livre | Online marketplace company | 5 | Brazil |
| Maria Rita Spina Bueno | Board member | Anjos do Brasil | Angel investment company | 12 | Brazil |
| Mariana Foresti | Managing partner | Honey Island Capital | Venture capital firm | 5 | Brazil |
| Mariana Homem de Mello | Partner and commercial head | G4 Educação | Educational services company | 2 | Brazil |
| Mariana Moitinho | Head of commercial strategy | 100 Open Startups | Corporate startup engagement platform | 1 | Brazil |
| Mariana Ramos | Strategic marketing analyst | Apex Brasil | Trading and export company | 9 | Brazil |
| Marília Verissimo | Analyst | EDP Brasil | Electrical utility company | 2 | Brazil |
| Marília Veríssimo | Investment associate | Valetec Capital | Corporate venture capital firm | <1(9 months) | Brazil |
| Marina Bove | Associate Product Manager II | Raio Drogasil | Pharmaceutical company | 2 | Brazil |
| Marinnah Dias | Founder & head of innovation factory | EDP Brasil | Electrical utility company | 2 | Brazil |
| Máyra Belem | Consultant | Wylinka | Non profit organisation | <1 (6 months) | Brazil |
| Milena Azeredo | Head of new ventures | GrupoQ | Education | <1 (5 months) | Brazil |
| Milena Casado de Oliveira | Partner | Volpe Capital | Venture capital investment firm | N/A | Brazil |
| Mirella Botelho de Aguiar Lisboa | Head open innovation at Agrostart BASF | BASF | Chemicals manufacturing corporation | N/A | Brazil |
| Monica Saggioro Leal | Co-founder & managing partner | Maya Capital | Real estate investment firm | 5 | Brazil |
| Monica Simão | Chief financial officer | Boa Vista Serviços | Credit management company | 2 | Brazil |
| Monielle Silva | Digital transformation specialist | VLI Logística | Railroad, terminal and ports logistics services company | 4 | Brazil |
| Nara Cury | Head of strategy, M&A and strategy/ value | Sequoia Soluções Logísticas | Express delivery service company | 2 | Brazil |
| Natália Couri Galarti | Chief operating officer | Crescera Investimentos | Alternative asset management firm | 6 | Brazil |
| Ornella Nitardi | Open innovation and digital ecosystems manager for South America | BASF | Chemicals manufacturing corporation | 13 | Brazil |
| Patricia Grabowsky | Innovation Manager | Ocyan | Oil industry solutions provider | 1 | Brazil |
| Patricia Moraes | Founder and managing partner | Unbox Capital | Private equity manager | 5 | Brazil |
| Patricia Nader | Partner & chief development and impact officer | Good Karma Ventures | Impact investment firm | 2 | Brazil |
| Patricia Otachi | Vice President | Sou Segura | An insurance company | N/A | Brazil |
| Paula Harraca | Director of the future – strategy, ESG, innovation and business transformation | Arcelor-Mittal | Steel and mining company | 19 | Brazil |
| Paula Rechtman | Head of startups & venture capital | Amazon (Amazon Web Services) | Provides computing platforms | 3 | Brazil |
| Priscila Trindade Sant’Anna | Consultant – open innovation | Wayra Brasil / Vivo | Subsidiary of telecommunications corporation Telefónica | 1 | Brazil |
| Priscilla Magni | Owner | director | president | Magni Consultoria | Consultancy firm | 2 | Brazil |
| Priscila Rodrigues | Managing partner | Crescera Capital | Venture capital firm | 12 | Brazil |
| Priscilla Spadinger | CEO | Aleve Ventures | Legal sector venture builder | 2 | Brazil |
| Rafaella Fatureto | Innovation manager | EDP Brasil | Electrical utility company | 1 | Brazil |
| Raquel Teixeira | Partner EY private leader Latam South | EY | Law firm | 15 | Brazil |
| Roberta Moreira | UVC investments | Ultra (Ultra Venture Capital) | Oil and gas conglomerate | 18 | Brazil |
| Sara Mota Mellão | Head of corporate partnership & open innovation | Endeavor | Firm that scales up startups | 4 | Brazil |
| Silvia Valadares | Managing director and partner | Centria Partners | Investment firm | 1 | Brazil |
| Sofia Pimenta Campos | Director of innovation & ventures | Deloitte | Financial services company | 2 | Brazil |
| Tatiana der Haroutiounian | Head of LatAm M&A and business development | Louis Dreyfus Company | Agriculture merchant firm | 10 | Brazil |
| Thais Ricupero Anauate | Investments & partnerships manager – Beverage Fund Latam at ZX Ventures | ZX Ventures | An investment arm of AB InBev | 1 | Brazil |
| Tuany Kaori Nakama | Investment officer | IDB | International financial bank | 1 | Brazil |
| Valentine Quintas | Open innovation specialist | Grupo Boticário | Cosmetics company | 12 | Brazil |
| Verônica Allende Serra | Founding partner | Innova Capital | Private equity firm | 29 | Brazil |
| Viviane Radiuk | Managing director | InvestTech Brazil | Investment management firm | 4 | Brazil |