FGV to represent Brazil in Venture Capital Investment Competition for second consecutive time
The organizers of the Venture Capital Investment Competition (VCIC Brasil) and Fundação Getulio Vargas’ Center for Studies in Startups, Innovation, Venture Capital and Private Equity (FGV NEST) have selected the team that will represent Brazil in the 2021 Venture Capital Investment Competition on February 5. The team members belong to the Rio de Janeiro, Sao Paulo and Live groups of FGV’s MBA in Private Equity, Venture Capital and Investment in Startups: Adriana Gomes (Sao Paulo), Caio Scofano (Rio de Janeiro), Christian Callas (Sao Paulo), Fernando Megale (Sao Paulo), Filipi Zimermann (Live) and Victoria Scotoni (Sao Paulo).
VCIC is not a startup competition. The teams are composed of students from the world’s most renowned MBA programs, who perform the role of investors in startups, evaluating real businesses. The competition’s judges are respected angel investors and venture capital managers, who observe the teams and give them scores based on their capacity to analyze, negotiate and invest in startups during the competition. VCIC was created in 1998 and it now involves more than 80 universities in 15 countries. Every year, around 1,500 students, 150 venture capital managers and 100 startups participate in various regional competitions across the world and a global final contest in the United States. It is an environment of professional training of the highest level, providing cutting-edge experiential learning about investment in startups.
In 2020, a Latin American university took part in VCIC for the first time. FGV’s team went to the United States to represent Brazil in the competition at Rice University, Houston, Texas. “The great challenge for the Brazilian team in 2020 was to make up for 20 years of information gaps in just 20 days. As much as we prepared, we did not know all the details of the competition like the other universities that have been taking part in VCIC for 15 or 20 years. However, our training was intense and our team did an amazing job. We came very close to winning our regional heat,” says the coordinator of FGV NEST, Professor Caio Ramalho.
This year, the challenge is different: social distancing. Because of the COVID-19 pandemic, VCIC 2021 will be 100% online. “We now know exactly how VCIC works. It’s no longer a mystery to us. The difficulty now is not being able to meet in person as we did last year, including on weekends, for training. This made a lot of difference to our technical preparation, helping to turn the group into a cohesive team. We will repeat our intensive technical mentoring for team members as part of our preparations, but this time it will be 100% online. Discipline, willpower and focus will be even more decisive factors this year. I believe that the team that is best able to organize and remain engaged in this virtual environment will be the winner of VCIC 2021,” Ramalho says.
VCIC Brasil is sponsored by Ipanema Ventures and Turim Family Office, two of the leading players in Brazil’s venture capital and private equity industry. Created in 2018, FGV NEST is an FGV Growth & Development initiative that has been contributing actively to the country’s innovative, high-impact entrepreneurial ecosystem. Since it was founded, FGV NEST has acted as a knowledge hub and leader in the areas of startups, innovation, venture capital and private equity in Brazil. It is supported by law firm Gaia Silva Gaede Advogados.
For more information about VCIC, click here.