The wealthiest man in Brazil seeks US$500 million for startups

At 41 years of age, Eduardo Saverin, from São Paulo, has overtaken the Safra family and become the richest person in Brazil.

The origin of his wealth, estimated at US$17.6 billion, is on the Harvard University campus: it was there that he created, together with Mark Zuckerberg, Facebook.

According to Forbes, this makes him a member of the club of the 100 richest people in the world.

Saverin and his management company, B Capital Group, are negotiating to raise US$500 million to invest in startups, especially fintechs and technology startups.

B Capital Group wants to create a new venture fund in early-stage startups.
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Saverin is reclusive, granting rare interviews, but in January, he gave a show that revealed that he might invest in startups.

“History has shown that volatile times offer fertile ground for new ideas and revolutionary innovations,” he said.

The interest comes at a very challenging time for startups and tech companies: there are difficulties raising more funding, a wave of layoffs, and even the collapse of the largest startup banks, California-based SVB.

With information from Revista Oeste

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