FGVnest takes Brazilian team to USA to participate in Venture Capital Investment Competition
Fundação Getulio Vargas’ Center for Studies on Startups, Innovation, Venture Capital and Private Equity (FGVnest) has chosen the team that will go to the United States to represent Brazil in the Venture Capital Investment Competition (VCIC), to be held at Rice University on February 7. The selected students are Caio Scofano, Carolina Assis, Flavio Lanes, Gustavo Tedeschi and Renato Ferreira. All of them are members of the first group to take FGV’s MBA in Private Equity, Venture Capital and Investments in Startups.
“The team selection process was extremely competitive, attracting very high-level candidates. The evaluation was carried out by several venture capital managers, and I can say that any combination of the candidates would have given us an exceptional team to represent Brazil at VCIC. Throughout January, the chosen team members received intensive technical mentoring as part of their preparations for the competition,” said FGVnest’s coordinator, Professor Caio Ramalho, who is responsible for VCIC in Brazil.
FGV is the first university in Latin America to participate in VCIC, which now involves more than 80 universities in 15 countries, including the world’s most prestigious MBA programs. The Brazilian team’s participation in the competition in the United States is possible thanks to a strategic partnership between FGVnest and two of the leading players in venture capital and private equity in Brazil: Ipanema Ventures and Turim Family Office.
According to Turim Family Office partner Gustavo Marini, “The venture capital industry is increasingly significant in Brazil. We have experienced rapid changes across the world involving new technologies, and many companies have been radically affected by new business models. It is very important for you to invest where these changes are happening, especially in academic projects that can bridge the gap with the market. So, it’s a pleasure for Turim to sponsor VCIC in Brazil and to be working with FGV on such an innovative and pioneering project.”
VCIC was created in 1998 at the University of North Carolina. Every year, around 1,500 students, 150 venture capitalists and 100 entrepreneurs participate in various regional competitions across the world. Unlike business plan competitions in which students pitch their own ideas to investors, at VCIC students are the investors with real entrepreneurs pitching to them. Experienced venture capitalists assume the role of judges and assess student teams’ performance based on their ability to analyze, negotiate and invest in startups.
It is a unique environment to train high-level professionals in venture capital through a state-of-the-art experiential learning process.
“We now see a complete investment chain, with relevant outlets that irrigate market players. We have been working for 20 years for this moment to come. The different links in the funding stages are falling into place and investors’ participation is becoming more democratic. We see the formation of a group that will produce the next managers of Brazil’s large venture capital funds. For this reason, we are happy and proud to be sponsoring VCIC in Brazil through our partnership with FGVnest,” said Ipanema Ventures partner Carlos Mario de Almeida.
For more information about VCIC, click here.