Atlantico
Atlantico is a São Paulo-based early-stage venture capital firm investing in Latin American technology startups, operating a venture-partner model and publishing the annual Latin America Digital Transformation Report. It serves founders across fintech, AI, and enterprise software, syndicating with tier-1 global and regional co-investors.
- Company typePrivate
- Founded2019
- HeadquartersSão Paulo, Brazil
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Atlantico does
Atlantico is a São Paulo, Brazil-based early-stage venture capital firm investing in Latin American technology startups. The firm operates a venture-partner model with approximately eight core team members and ten specialized venture partners, including senior global operators such as Hugo Barra (formerly VP at Facebook/Oculus and head of Xiaomi International) and Mate Pencz (co-founder of QuintoAndar). Partners Julio Vasconcellos and Ana Martins lead investment activity, with disclosed deals spanning fintech infrastructure (Cobre, Akua), AI and automation (Vambe, Enter), and enterprise software (Lebane, Robbin) between 2024 and 2026, including co-leading rounds and participating in Enter's $100M+ Series B — the first Latin American AI unicorn outcome.
The firm's core product is its fund-management franchise, supplemented by the annual Latin America Digital Transformation Report (six editions, 2020-2025) and The Atlantico Pub newsletter. The annual report is supported by a tiered corporate-sponsorship program (Diamond/Platinum/Gold) with sponsors including iFood, AWS, Google, Itaú BBA, BTG Pactual, Wilson Sonsini, StarkBank, Cubo, IGC, and Blip. Atlantico's revenue model is typical of emerging-market venture managers: management fees on committed AUM, potential carried interest from successful exits, and ancillary sponsorship revenue from its research product. Co-investors across disclosed rounds include Founders Fund, Sequoia, Ribbit Capital, QED, Canary, Kaszek, Monashees, Flourish Ventures, and Cathay Latam — positioning Atlantico consistently as a syndicate partner alongside tier-1 global and regional funds rather than as a solo lead at scale.
Atlantico firmographics
Firmographics- Name
- Atlantico
- Legal name
- Atlantico
- Website
- https://atlantico.vc
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Atlantico is a São Paulo-based early-stage venture capital firm investing in Latin American technology startups, operating a venture-partner model and publishing the annual Latin America Digital Transformation Report. It serves founders across fintech, AI, and enterprise software, syndicating with tier-1 global and regional co-investors.
- Ownership category
- akta.pro rank
Atlantico industry classification
Industry- Product category
- Venture Capital / Early-Stage Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industries
- Emerging Manager / Seeding Platforms (Multi-Manager) (FSANAGAF), Emerging Managers / Seeding Platforms (FSAHAKAI)
Keywords
Where Atlantico is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Atlantico business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Fund management & carried interest: As an early-stage venture capital fund investing in Latin America, Atlantico generates revenue from management fees on assets under management and carried interest on portfolio exits. The fund targets pre-scale companies showing early signs of product-market fit, with participation across rounds ranging from seed (Lebane $4M) to Series B (Enter $100M+).
- Sponsored research & report partnerships: Annual Latin America Digital Transformation Report is co-produced with corporate sponsors at Diamond, Platinum, and Gold tiers (iFood, AWS, StarkBank, Cubo, Itau BBA, Google, Wilson Sonsini, BTG Pactual, IGC, Blip, BZCP, Lysch), suggesting a recurring sponsorship revenue stream tied to research distribution.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Atlantico product offering
Product offeringCore offering
Atlantico is an early-stage venture capital fund that backs pre-scale technology companies across Latin America, deploying equity capital from seed through Series B ($4M seed rounds to $100M+ Series B co-participation). The fund is operated by a team of founders and operators who have built and scaled companies across the region, and is supplemented by a flagship annual research publication (the Latin America Digital Transformation Report) and a subscription newsletter (The Atlantico Pub) that distribute proprietary ecosystem insights to founders, LPs, and corporate sponsors.
Product overview
Atlantico's offering is a single unified service — an early-stage venture capital fund targeting pre-scale companies across Latin America — augmented by a flagship content/research offering and a subscription newsletter. The core offering is the Atlantico Early-Stage Venture Capital Fund, which invests in founders across the region. Complementing the fund, Atlantico publishes the annual Latin America Digital Transformation Report (a research publication produced every year from 2020 through 2025), and distributes related insights via The Atlantico Pub, an email newsletter that lets readers subscribe to receive future research from the firm. Together these three pieces form a tightly integrated platform: the fund invests capital, the report disseminates proprietary ecosystem research, and the newsletter serves as the recurring distribution channel for that research.
Differentiator
Problem solved
Functional benefit
Products and services
- Atlantico Early-Stage Venture Capital Fund An early-stage venture capital fund that backs bold founders building pre-scale companies in Latin America and beyond, partnering with teams showing early signs of product-market fit. The team is composed of founders and operators who previously built and scaled some of the largest companies in Latin America and globally. The fund invests from seed through Series B and is syndicated with co-investors including Founders Fund, Sequoia, Ribbit Capital, Kaszek, Monashees, QED Investors, and Canary.
- Latin America Digital Transformation Report An annual proprietary research publication (produced 2020 through 2025) that tracks digital transformation, venture capital flows, market cap dynamics, internet penetration, fintech adoption, and tech ecosystem trends across Latin America. Each edition analyzes themes such as market cap creation, regional founder/investor sentiment, and the resilience of LatAm tech companies. Distributed as a downloadable PDF and cited by FT, TechCrunch, Bloomberg, Reuters, WSJ, and Forbes.
- The Atlantico Pub A subscription-based email newsletter that distributes Atlantico's ongoing research and insights, including the annual Latin America Digital Transformation Report and related analysis of the Latin American digital economy.
Quantifiable outcome
- Co-led Robbin's $8M seed (originated $200M+ credit, 21% supplier spend lift)
- +5 more outcomes
Companies that use Atlantico
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles2 records
Atlantico technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Atlantico partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered diamond / flagship, platinum / gold, platinum, diamond, flagship, corporate / flagship and venture partner (network tier).
- iFooddiamond / flagshipDiamond-tier sponsor of Atlantico's Latin America Digital Transformation Report in 2023, 2024, and 2025. Co-branding partner on the flagship annual research product.
- AWSplatinum / goldPlatinum-tier sponsor in 2025; Gold-tier sponsor in 2023 and 2024 of the Latin America Digital Transformation Report. Recurring co-brand partner.
- CuboplatinumPlatinum-tier sponsor of the Latin America Digital Transformation Report in 2024 and 2025. Co-branding partner.
- Itau BBAplatinumPlatinum-tier sponsor of the Latin America Digital Transformation Report in 2024 and 2025. Co-branding partner.
- StarkBankdiamondDiamond-tier sponsor of the Latin America Digital Transformation Report in 2023 and 2024. Co-branding partner.
- GoogleflagshipFlagship-tier sponsor of the Latin America Digital Transformation Report in 2023. Co-branding partner.
- Wilson Sonsinicorporate / flagshipCorpore-tier sponsor of the Latin America Digital Transformation Report in 2023. Co-branding partner.
- BTG Pactualcorporate / flagshipCorpore-tier sponsor of the Latin America Digital Transformation Report in 2023. Ana Martins previously worked in Investment Banking at BTG Pactual. Co-branding partner.
- Hugo Barraventure partner (network tier)Venture Partner at Atlantico. Former VP of Product for Android at Google, VP of Global Business at Xiaomi, VP of Virtual Reality at Facebook, currently Co-founder of /dev/agents. Provides portfolio founders with senior product and operating guidance.
- Mate Penczventure partner (network tier)Venture Partner at Atlantico. Co-founder and CEO of Brazilian real estate unicorn Loft; previously founded Printi; founding partner at Canary. Provides portfolio founders with marketplace and proptech operating expertise.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
Atlantico competitors and assessment
Company assessmentDirect peers
- Kaszek: Largest Latin America-focused venture capital firm, investing across stages in Brazil, Argentina, Mexico, and beyond. Co-investor with Atlantico in Enter (Series B) and Cobre, and the most direct competitor for early- and growth-stage LatAm deals.
- Monashees: Brazilian multi-stage venture firm investing in LatAm tech. Led Vambe's $14M Series A in which Atlantico participated. Most directly comparable Brazilian VC peer by stage, geography, and check size.
- Canary: Brazilian early-stage VC founded by Atlantico partner Julio Vasconcellos and venture partner Mate Pencz. Co-invested with Atlantico in Robbin and Cobre and shares the operator-founder DNA that defines Atlantico's brand.
- ONEVC: Brazilian early-stage venture firm investing in LatAm pre-seed and seed. Participated in Enter's $100M+ Series B alongside Atlantico, Founders Fund, Sequoia, and Ribbit. Closely comparable by stage and geography.
- QED Investors: Global fintech-focused venture firm with deep LatAm presence. Co-led Cobre's $13M round with Atlantico in 2024. Comparable by deal type (fintech-heavy, often co-led with regional VCs) and stage.
- Valor Capital Group: US-Brazil cross-border venture firm investing in LatAm tech with growth orientation. Closely comparable in cross-border positioning and LatAm-focused thesis, though with a US-LP base.
- Ribbit Capital: Global fintech-focused venture firm that participated in Enter's $100M+ Series B alongside Atlantico. Comparable in fintech-led, high-conviction growth-stage LatAm investing.
Broad incumbents
- Sequoia Capital: Global tier-1 venture firm that participated in Enter's $100M+ Series B alongside Atlantico. Operates broadly worldwide, with LatAm as one of many geographies — Atlantico's role is increasingly the regional gateway into rounds where Sequoia leads.
- Founders Fund: Global tier-1 venture firm that led Enter's $100M+ Series B with Atlantico participating. Operates across geographies and stages; Atlantico serves as regional partner/access in LatAm.
Regional players
- Graph Ventures: Early-stage Brazilian VC where Atlantico partner Julio Vasconcellos is also a founding partner. Highly comparable by stage and Brazilian focus; competes for similar seed deals, sometimes alongside Atlantico.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Atlantico social profiles
Digital presenceAtlantico financial estimates
Financial estimateRevenue estimate
Valuation estimate
Atlantico leadership team
Management profileNumber of profiles
Profiles9 records
Atlantico funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Atlantico M&A and investment
M&A and investmentM&A
Investments27 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Atlantico
What does Atlantico do?
Atlantico is an early-stage venture capital fund that backs pre-scale technology companies across Latin America, deploying equity capital from seed through Series B ($4M seed rounds to $100M+ Series B co-participation). The fund is operated by a team of founders and operators who have built and scaled companies across the region, and is supplemented by a flagship annual research publication (the Latin America Digital Transformation Report) and a subscription newsletter (The Atlantico Pub) that distribute proprietary ecosystem insights to founders, LPs, and corporate sponsors.
Is Atlantico a public or private company?
Atlantico is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Atlantico founded?
Atlantico was founded in 2019. It employs 11 to 50 people.
Where is Atlantico based?
Atlantico is headquartered in São Paulo, Brazil, in the Latin America region.
How does Atlantico make money?
Two revenue lines are on record. Fund management & carried interest is the primary driver. The others are sponsored research & report partnerships.
Who are Atlantico's main competitors?
Direct peers on record are Kaszek, Monashees, Canary, ONEVC, QED Investors, Valor Capital Group and Ribbit Capital. Broad incumbents are Sequoia Capital and Founders Fund. Graph Ventures is listed as a regional player.
Does Atlantico have an API?
No public API is recorded for Atlantico.
What industry is Atlantico in?
Atlantico's product category is Venture Capital / Early-Stage Investment Management. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAGAF, Emerging Manager / Seeding Platforms (Multi-Manager). Its NAICS code is 523940 and its SIC code is 6282.