Vivo Ventures leads Brazil's corporate venture capital activity

A survey conducted by Global Corporate Venturing in partnership with ApexBrasil reveals varying trends in corporate venture capital (CVC) activity in Brazil. While some companies are scaling back their startup investments, others are maintaining or increasing their presence in the sector.

Vivo Ventures, the investment arm of the telecommunications group, was identified as the most active CVC in the country. Between July 1, 2025, and June 30, 2026, the fund completed nine transactions. Since its creation in 2022, Vivo Ventures has invested R$ 242 million across three funds and 14 startups, focusing on sectors ranging from fintech to artificial intelligence.

In terms of investment volume, MF92 Ventures, the investment branch of Minerva Foods, recorded the largest single investment during the period. Among foreign CVCs operating in Brazil, Prosus Ventures was noted as the most active.