2023-05-03 17:53:49
Through the fund created to boost female entrepreneurship in the country, R$ 5 million are available for companies in the State
São Paulo, May 03, 2023 – During the Web Summit, one of the main technology events in the world – held in Rio de Janeiro between the 1st and 4th of May – WE Ventures and the Development Agency of the State of Rio (AgeRio) announce the opening of a round of investment in Rio de Janeiro startups with women in leadership positions. The initiative is exclusive to startups in the state of Rio de Janeiro, with revenues of at least BRL 2 million per year, which have one or more women in a leadership position in the company and, at least, a female team with 20% of participation no share capital of the company. Interested parties have until May 31 to register on the website: www.we.ventures.
WE Ventures is the investment arm of Women Entrepreneurship (WE), a program developed by Microsoft Participações, in partnership with Sebrae Nacional and M8 Partners and with Bertha Capital. It is the first Venture Capital fund in Brazil focused only on ventures led by women, and has AgeRio as one of its investors. This is the first round of investments carried out in partnership with the Agency. Up to 10 startups from Rio de Janeiro will be selected, who will have the opportunity to defend their businesses in a 15-minute pitch. Of these, three will be chosen. by the investment committee and the management of WE Ventures to receive the contribution.
“There is a huge diversity gap in the Venture Capital market, a reflection of our society and the technology market as a whole,” says Marcella Ceva, CIO of WE Ventures. “A study by LAVCA VC showed that, from 2019 to 2022, the percentage of investments destined for startups led by women, in Latin America, increased from 16% to 31%. It is growth towards gender equality, but we still have more to achieve. With this call, we are going to offer more opportunities and resources to boost female entrepreneurship”, adds the executive.
“By participating in the We Ventures Fund, AgeRio and the Government of the State of RJ reinforce their commitment to financially support startups led by women, strengthening gender equality and female entrepreneurship in the Rio de Janeiro market”, says Tatiana Oliver, director of AgeRio Operations.
About AgeRio
The Rio de Janeiro State Development Agency (AgeRio), which celebrated its 20th anniversary in December 2022, is a mixed-capital company that forms part of the indirect administration of the State Government, being linked to the State Secretariat for Economic Development, Industry , Commerce and Services (SEDEICS).
The mission of the company – which operates with its own resources, transfers and state funds – is to promote, through financial solutions, the sustainable development of the State of Rio de Janeiro, with excellence in the provision of services. All operations carried out by AgeRio are approved according to technical criteria and through collegiate decisions, determining factors for establishing the conditions of each financial support.
The current Board of Directors of the Agency, which took office on December 28, 2020, is composed exclusively of public servants with a long professional history at the institution. With operations focused on gaining efficiency and assertiveness in business, the company’s management focuses on promoting the development of the economy and the generation of jobs and income, especially in view of the adverse economic scenario imposed by the pandemic and the regional vocations of each region from Rio de Janeiro.
Sobre o Women Entrepreneurship (WE)
Women Entrepreneurship (WE) is a Microsoft initiative, launched in November 2019, which aims to encourage female entrepreneurship in the country and offers investment, mentoring and consultancy for the development of startups led by women. As part of the initiative, Microsoft Participações, in partnership with Sebrae Nacional and M8 Partners and in association with Bertha Capital, structured the WE Ventures fund, which focuses on investing in startups with at least 20% female participation and at least a woman in a leadership role. Contributions range from R$ 1 million to R$ 5 million. To date, WE Ventures has invested in four startups: Pack ID, Mobees, Smarkets and We Impact. The fund has already received more than 1,200 registered startups and raised a total of BRL 60 million.
About Microsoft
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation in the era of the intelligent cloud and the intelligent edge. Microsoft’s mission is to empower every person and every organization on the planet to achieve more. The company has been in Brazil for 34 years and is one of the subsidiaries of Microsoft Corporation, founded in 1975, which is present in over 190 countries. From July 2021 to June 2022, the company invested more than US$ 15 million in donations and discounts for non-profit entities, impacting more than 2,000 institutions with software donations, discounts for purchases and support for training projects. With the launch of the Microsoft For Startups Founders Hub, 443 new startups were approved, totaling 703 supported startups, which together have consumed USD 11,898,488.00 of Azure cloud credits.
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