Driven by fintechs, investments in startups triple in Brazil in 2021

Brazil has seen an "avalanche" of new unicorns, as companies with market valuations exceeding US$1 billion are called.

RIO DE JANEIRO, BRAZIL - The race for digitalization and the great global liquidity led venture capital funds, which invest in startups, to set a new annual record for investments in Brazil.

These funds invested R$46.5 (US$8.6) billion last year in Brazilian startups, tripling the amount recorded the year before, according to a survey by KPMG and the Brazilian Private Equity and Venture Capital Association (ABVCAP). It was the fourth consecutive year of record results.

The boost came mainly from startups linked to the financial sector (fintechs) and the insurance segment (insuretechs), which accounted for almost 30 . . .

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