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Diaspora entrepreneurship is now a global force, fostering ecosystems across borders — in the USA, for instance, 55% of unicorns are founded by immigrants.
Brazil is no exception. Once known for exporting commodities, the country is becoming an exporter of talents — founders, investors and tech professionals that are building and scaling companies in every continent.
“A world of mobility and air bridges exists, in part, thanks to a Brazilian in the diaspora. Over a century ago, Santos Dumont defied gravity when he flew the 14-Bis around the Eiffel Tower. More than engineering, it was a statement: Brazilians can shape the future of business everywhere.
Anderson Thees
MD, Endeavor Brazil
“Endeavor’s mission is to encourage diaspora entrepreneurs to do the same: soar across markets, leave an impact, but never forget where they took the first flight.”
We mapped nearly 400 Brazilian tech founders, investors, and executives and interviewed 58 of them to understand their impact, ways of giving back to Brazil and practices for a soft landing.
Entrepreneurs, investors, and tech executives in the diaspora bridge and connect businesses in an international context, as they possess a wealth of knowledge and experience from both their home markets and international markets. For that reason,they are better suited to scaling high-impact international companies.
Business success today depends more on access to networks and global capital than on proximity to headquarters.
In the U.S., 16% live in a different state than their company’s HQ, a trend especially strong among executives (34%).
Globally, 1 in 4 Endeavor Entrepreneurs builds businesses outside their home country. Among them, 29 Brazilian entrepreneurs are making an impact from California to the Netherlands.
Source: Data collected by Endeavor through February 2025.
How high-impact Brazilians entrepreneurs are scaling and paying it forward
CEO of Prosus and Naspers
Since the early days of iFood, Fabrício had one goal: build a world-class company. After Leading one of Latin America’s most successful tech companies, he joins Prosus he can take that ambition even further.
“I have always dreamed of creating a global leading company. This has always been iFood’s mindset. We’re building global companies in Brazil, India, Africa, the Middle East, and Europe. These markets are full of potential.” Founder and CEO of Wellhub, Endeavor Brazil Board
Cesar moved to New York with a clear objective: to accelerate Wellhub’s global expansion.
“The market is so large that it can seem advantageous to operate exclusively within Brazil and never expand internationally. But that’s not always true.”
Co-founder and CEO of VTEX
Mariano relocated to London to position VTEX as a global leader in e-commerce.
Founded in 2000, VTEX had seen significant growth in Brazil, but Mariano couldn’t wait for full consolidation at home: in 2012, VTEX began expanding into Argentina, Colombia, Chile, and Peru.
CEO of Bumble Inc
Raised in São Miguel, São Paulo, Lidiane Jones’ path from a working-class immigrant family to CEO of Bumble Inc.
“When you start thinking of yourself as ‘Brazilian’ before ‘leader,’ it’s a disadvantageous situation. Results speak louder. I don’t see nationality; I see impact. I see the work and impact behind businesses led by Brazilians.”
Co-founder /dev/agents
Angel Investor
Hugo Barra’s career spans global tech hubs, from MIT to Google, Xiaomi, and Silicon Valley.
“Brazil has some recognition in the U.S., but not enough. Nubank is one of the few companies that people in Silicon Valley and global tech circles talk about—we need to multiply these examples.”
Co-founder and MD, Renegade Partners
Renata Quintini is one of the few Brazilian women in VC to establish herself in Silicon Valley early on.
“Brazilians are natural optimists, but they can dream even bigger—especially those who want to build something great and global. The next Google could come from Brazil.”
Diaspora entrepreneurs operate highly technical and global businesses.
Thanks to companies like Nubank and Creditas, Brazil has established itself as a global player in fintech. Despite making up only 17% of Brazilian-founded companies abroad, Fintechs secured $4.45B (44% of total capital), largely driven by Brex’s late-stage rounds.
“Brazilians are ambitious, tech-savvy, and used to volatility, which the world increasingly faces. It’s in our DNA. We’re still the in ‘first generation’ of founders taking companies global. But it’s in our DNA – ambitious, tech-savvy, and used to volatility”
César Carvalho, Wellhub (New York)
“Having lived through hyperinflation and seeing technologies in Brazil more advanced than those in the U.S. inspired me to start Papaya. I had seen the future in Brazil and the past in the U.S.”
Patrick Kann, Papaya (Los Angeles)
Brazil plays a relevant role in early-stage investments, but still loses traction in later rounds. Most Brazilian-led startups abroad are in early funding stages, with Seed (28%) and Angel/Pre-Seed (22%) rounds leading. While Series A and Series B represented 12% each, only 3% of companies reached Pre-IPO/IPO stages.
Alexandre Hadade, Birdie (Silicon Valley)
“Being a first-generation immigrant in the U.S. is challenging—your previous story holds little value. But all it takes is one connection, one person who sees your potential. I came to show Brazilian entrepreneurs that it’s possible to think big—we are the Davi Vélez and Sérgio Furios of other countries.”
Going global means:
“Expanding abroad makes recruitment easier and shifts how the company is perceived. When the founder is present in the new market, it signals importance and drives the strategy outward.”
César Carvalho, Wellhub (New York)
“The company grew a lot because I wasn’t there. The role of a public company founder can verge on idolization, but stepping back empowered the team.”
Mariano Gomide, VTEX (New York)
“While Brazil’s market size lets certain companies grow domestically, others must look abroad to scale. The Brazilian is inherently optimistic but should dream bigger“
Renata Quintini, Renegade Partners (Silicon Valley)
“If in the 2010s it used to be convenient to stay in Brazil because investors backed global expansion, the 2020s are all about global Brazilian cases pushing investors to support the path.“
César Carvalho, Wellhub (New York)
“Being exposed to a strong currency and competing globally elevates what a Brazilian software company can represent.”
Rodrigo Bernardinelli, Digibee (Miami)
“If we succeed, we’ll create a brand that helps 10 more companies follow. When 100 companies succeed abroad, we’ll change millions of lives. When ‘made in Brazil’ or ‘engineered in Brazil’ becomes our signature, it’ll be transformative for the country.”
Mariano Gomide, VTEX (New York)
Interviews with 58 Brazilians revealed two primary migration drivers: personal motivations and opportunity-driven factors.
While most (53%) migrated primarily for professional or business opportunities, 44% cited at least one personal factor in their decision.
Career (81%)
Business Expansion (32%)
Education (19%)
Family (21%)
Public safety in Brazil (18%)
Exit or liquidity event (12%)
Brazilians who migrate for opportunity seek ecosystems that offer stronger support for innovation, career growth, and global scaling—filling gaps that persist in Brazil.
Among the 28 entrepreneurs interviewed, 11 gained executive experience abroad before launching their ventures, while 17 dove straight into founding their businesses overseas.
For investors focused on global growth, Brazil can sometimes feel like a ceiling.
“Brazil has a size limit; California’s economy is nearly 2x larger than Brazil’s.”
Alex Hadade, Birdie (Silicon Valley)
Brazil’s investment in R&D and infrastructure remains low in biotech and AI compared to larger markets.
Local companies tend to license international technologies rather than develop their own. AI-enabled companies often thrive with product-based solutions.
Brazil continues to prioritize distribution over innovation, limiting its global reach.
Since big tech subsidiaries in Brazil primarily focus on sales and marketing, long-term careers in the country can lead to stagnation.
“All we had in Belo Horizonte (Brazilian city) was Google. I could either stay there forever or explore other options.”
Koji Pereira, Sigma (Silicon Valley)
Safer environments provide children with greater independence, reduced social isolation, and the freedom to move around cities.
“I saw the rise of violence in Sao Paulo. I lived in a glass bubble, always in an armored car.”
Colin Butterfield, Solum Partners (Boston)
After an exit, entrepreneurs often reflect on their lifestyle and work routines.
“It was 12 years of Geekie, 12 years of survival. I had been through so much, gone bankrupt so many times. It was exhaustion—a mix of entrepreneurial burnout and the challenges of Brazil. Moving abroad was almost a cry for help.”
Eduardo Bontempo, i4 Capital (Miami)
Entrepreneurs also cited financial factors, such as:
Economic instability in Brazil, with volatility making it difficult to focus on the strategic priorities of their businesses;
Exchange rates with growing disparity between the Brazilian real and the U.S. dollar, making a return to Brazil less attractive;
Tax burden, especially on the repatriation of funds.
For most Brazilians abroad (81%), relocating to Brazil is not part of their plans—a reflection of their deep integration and consolidation of life overseas. For companies, 2-3 years of offshore operations and complex cap table structures often make returning to Brazil unfeasible.
Leila Velez, Curl Lab (New York)
“I considered going back to Brazil after leaving Beleza Natural, but my kids didn’t want to leave high school, and my husband was already employed at an American company.”
While Silicon Valley remains a major hub of capital and talent, the demand for high-impact entrepreneurship is driving Endeavor’s expansion wherever founders want to be—88% of Brazilians are exploring opportunities in both advanced and emerging ecosystems.
But what does it take to land and thrive in these markets?
Our interviewees shared insights on opportunities and challenges, reflecting on whether their expectations matched their experiences as emigrants.
Hurdles and opportunities faced by the Brazilian diaspora
Networking (81%) Building meaningful connections in a new ecosystem directly impacts access to business opportunities, clients, and investments.
“I should have invested heavily in building a network with other executives, like I had in Brazil, Spain, and Germany; I could have leveraged organizations like Endeavor and the portfolio companies of our investors.”
César Carvalho, Wellhub (New York)
Adjusting to social and professional norms affects both daily life and business operations.
“What makes us different, makes us powerful. People won’t always be welcoming. Make sure they recognize your experience above your ‘Brazilianess’.”
Selma Bueno, Morgan Stanley (New York)
Even second time founders face difficulties understanding the market and securing funding abroad.
“Investors begin supporting local founders, but they look everywhere. Avoid thinking ‘Brazilians are A, Mexicans are B.’ If you successfully raised funding in your home country, they can do it again outside”
Nitin Pachisia, Unshackled Ventures (Silicon Valley)
Many entrepreneurs must prove their credibility and value when entering international ecosystems.
“Start by talking about the company, and people will see you differently. At Slack, I was chosen because I was the right person for the team. I don’t want to be judged as a Brazilian; I want to be judged by my work.”
Lidiane Jones, Bumble Inc. (Cambridge)
The power of the Brazilian diaspora’s giveback for the advancement of the Brazilian ecosystem
Going global doesn’t mean leaving home behind. Most Brazilians remain connected to their home country and contribute to the local ecosystem in multiple ways, forming a strong community and support network.
The international community of the Brazilian diaspora is an asset for Brazil’s scale-ups.
“The more you contribute, the more value you generate—not just for others, but for yourself. Extracting value without giving back doesn’t work in the long run.”
Felipe Lamounier (Hyperplane – Silicon Valley)
“Giveback isn’t an extra mile or an exceptional act. It should be a daily obligation, like brushing your teeth. You wake up and do it.”
Mariano Gomide (VTEX – New York)
“I joined Endeavor’s board three years ago, but I had been investing in and mentoring Brazilian entrepreneurs long before that. The playbook is simple: always set aside time for this. Always.”
César Carvalho (Wellhub – New York)
Brazilians who migrate for opportunity seek ecosystems that offer stronger support for innovation, career growth, and global scaling—filling gaps that persist in Brazil.
Among the 28 entrepreneurs interviewed, 11 gained executive experience abroad before launching their ventures, while 17 dove straight into founding their businesses overseas.
“I want to create jobs in Brazil and invest in small businesses, especially those led by Black women.”
Leila Velez, Curl Lab (New York)
“My initial market was Brazil, to gain traction. A large market that I know well, with a single language and currency. It’s a way to stay connected.”
Fernanda Weiden, Alfredo (Zurich)
Brazilians who migrate for opportunity seek ecosystems that offer stronger support for innovation, career growth, and global scaling—filling gaps that persist in Brazil.
Among the 28 entrepreneurs interviewed, 11 gained executive experience abroad before launching their ventures, while 17 dove straight into founding their businesses overseas.
“We created a small, friends-only deep-tech fund to support startups in need. Today, we back 10 companies—six of them in Brazil—aiming to facilitate soft landings for Brazilian startups in Singapore.”
Ricardo Oliveira, NanoBusiness (Singapore)
“Brazilian society can increase donation rates from 0.2% to 3%. The desire to giveback exists, but many don’t know how. Endowments are excellent instruments for change.”
Mariano Gomide (VTEX – New York)
This plays a crucial role in reversing brain drain, bridging home and host countries through shared knowledge and expertise.
“I once mentored Greek and Spanish entrepreneurs on Brazil’s healthcare sector—insights that are both unique and irreplaceable.”
Fabiana Salles (Miami)
“Many U.S. frameworks are treated as gospel in Brazil, but I’ve seen plenty of poorly conceived ideas. Brazilians must believe in their ability to create their own models.”
Koji Pereira, Sigma (Silicon Valley)
While 60% of respondents engage in community initiatives with fellow Brazilians, 65% feel these communities could be better developed.
Michele Levy, Melissa Shoes USA e Costa Brazil (New York)
“Being a foreigner can be an advantage, but the missing piece is the network. People invest in people, and without the right connections, breaking through can be much harder. We need to fill this gap—one Brazilian pulling the other up”
We are the leading global community of, by, and for high-impact entrepreneurs — those who dream bigger, scale faster, and pay it forward. Driven by our belief that high-impact entrepreneurs transform economies, Endeavor has been on a mission to build thriving entrepreneurial ecosystems in emerging and underserved markets around the world since its creation in 1997.
Endeavor Brazil’s Research provides data-driven insights and practical case studies focused on the drivers of the Brazil’s entrepreneurial ecosystem. Leveraging Endeavor’s global footprint, our studies explore the factors that foster high-impact entrepreneurship in Brazil, offering valuable knowledge to help founders scale and strengthen the local innovation landscape. For more information, contact karina.almeida@endeavor.org.br.
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