MSW Capital
MSW Capital is a Rio de Janeiro-based, CVM-regulated Brazilian VC asset manager that pioneered the multi-corporate venture capital fund model, managing BR Startups, BB Ventures, and MSW Multicorp II to invest R$2M–R$15M minority stakes in seed and Series A tech startups using corporate LP 'smart capital'.
- Company typePrivate
- Founded2000
- HeadquartersRio De Janeiro, Brazil
- Headcount1–10
- GTM typeB2B
- OfferingServices
What MSW Capital does
MSW Capital is a Brazilian venture capital and asset management firm (gestora de recursos) regulated by the CVM, founded in 2000 by Prof. Moises Swirski as MSW Educação e Consultoria. The firm pioneered the multi-corporate venture capital fund management model in Brazil in 2015, acting as a fund-of-corporate-LPs manager that orchestrates the full investment cycle (deal origination, screening, investment, development, exit) and channels 'smart capital' from corporate investors into portfolio startups. Its core technology is this proprietary fund management architecture and the smart capital transfer mechanism (commercial contracts, co-development, POCs, governance mentoring) that distinguishes MSW from conventional financial-only VC managers.
The firm's product surface consists of three active funds: BR Startups (the pioneer multi-corporate fund, 15+ portfolio companies across Brazil, USA, Israel, and Argentina), BB Ventures (a flagship partnership with Banco do Brasil focusing on Fintechs, Agritechs, Govtechs, and digital experience), and MSW Multicorp II (launched 2022 with Baterias Moura, BB Seguros, AgeRio, and Embraer as LPs, focusing on InsurTech, EnergyTech, and Aerospace startups). MSW makes R$2M–R$15M minority equity investments at seed and Series A stages, with minimum projected annual revenue thresholds (R$180k for BB Ventures, R$300k for Multicorp II) applied to target startups.
The business model rests on three revenue streams: recurring fund management fees on multi-corporate VC funds, carried interest and capital gains on portfolio exits, and a residual consulting/education stream from the predecessor MSW Educação e Consultoria brand. The firm serves two primary customer segments: tech-based startups in seed and Series A stages seeking growth capital and corporate customers, and large Brazilian corporations seeking to launch or strengthen Corporate Venture Capital programs. Distribution is relationship-driven (direct outreach to corporations, pitch-deck submission for startups, sector-focused open calls) supported by content marketing, LinkedIn, Instagram, and the MSW Podcast. The team comprises five investment professionals and a three-member advisory board, operating from a single Rio de Janeiro headquarters.
MSW Capital firmographics
Firmographics- Name
- MSW Capital
- Legal name
- MSW Capital
- Website
- https://mswcapital.com.br
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- MSW Capital is a Rio de Janeiro-based, CVM-regulated Brazilian VC asset manager that pioneered the multi-corporate venture capital fund model, managing BR Startups, BB Ventures, and MSW Multicorp II to invest R$2M–R$15M minority stakes in seed and Series A tech startups using corporate LP 'smart capital'.
- Ownership category
- akta.pro rank
MSW Capital industry classification
Industry- Product category
- Venture Capital / Asset Management
- NAICS
- Portfolio Management and Investment Advice (52394), Other Financial Vehicles (525990)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Venture Capital Fund-of-Funds (FSANAGAC)
Keywords
Where MSW Capital is headquartered
LocationHeadquarters
- HQ city
- Rio De Janeiro
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
MSW Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund management fees: Recurring management fees earned on multi-corporate venture capital funds (BR Startups, BB Ventures, MSW Multicorp II) from corporate LPs such as Banco do Brasil, BB Seguros, Baterias Moura, AgeRio, and Embraer.
- Carried interest / performance returns: Carried interest and capital gains generated from successful exits of minority equity stakes in portfolio companies.
- Legacy consulting and education services: Historical stream from MSW Educação e Consultoria (founded 2000) providing valuation, financial modeling, M&A advisory, business development and corporate education programs to clients such as Odebrecht, Embraer, and Intertechne.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Outcome Based/ Performance | Multi-year contract | MSW Multicorp II fund: R$2M–R$15M per startup investment |
| Outcome Based/ Performance | Multi-year contract | BB Ventures fund: R$2M–R$15M per startup investment |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
MSW Capital product offering
Product offeringCore offering
MSW Capital is a Brazilian asset management firm that manages multi-corporate venture capital funds, pooling corporate investors as limited partners to make minority equity investments of R$2M–R$15M in tech-based startups at seed and Series A stages. The firm provides end-to-end fund management covering deal origination, screening, investment, portfolio company development, and exit, while transferring "smart capital" (commercial contracts, co-development, POCs, governance mentoring) from corporate LPs to portfolio startups. Key managed funds include BR Startups, BB Ventures (for Banco do Brasil), and MSW Multicorp II.
Product overview
MSW Capital is not a technology product company; it is a Brazilian venture capital asset management firm whose offering is a unified fund-management platform-plus-modules architecture composed of the funds it manages (BR Startups, BB Ventures, and MSW Multicorp II) supported by its core Corporate Venture Capital (CVC) management service. Each fund is a distinct product/module tailored to a different set of corporate investors and target sectors, but all are operated through the same CVC service covering Deal Origination, Screening, Investment, Development, and Exit. The firm additionally maintains a public podcast to support its engagement with the entrepreneurship ecosystem, and exposes a Portuguese/English website covering About Us, Philosophy, Corporate Venture, Team, Board, Portfolio, and Contact. The company invests in a portfolio of external startups (e.g., Árvore Educação, Car10, Carflix, Covercy, DeviceLab, Fabric, iRancho, Lina, Mooney, Olivia, Pagaleve, Payfy, Personalics, Quero Quitar, Speedbird, Taranis, Tbit, TideWise, TideWise, Voltbras, Widow Games, Yalo, Yours Bank, Automni); these portfolio companies are investees, not MSW Capital's own products.
Differentiator
Problem solved
Functional benefit
Products and services
- MSW Multicorp II Multi-corporate venture capital fund uniting major corporations (Baterias Moura, BB Seguros, AgeRio, and Embraer) as LPs to invest in technology-based startups in the InsurTech, EnergyTech, and Aerospace sectors at seed and Series A stages, with minority equity participation. Targets startups with minimum projected 2024 annual revenue of R$300k.
- BB Ventures (BBV) Corporate venture capital fund of Banco do Brasil, managed by MSW Capital, making minority investments of R$2M–R$15M in tech-based seed and Series A startups with synergies to Banco do Brasil's business areas, focusing on Fintechs, Agritechs, Govtechs, and digital experience startups. Requires minimum projected 2024 annual revenue of R$180,000 from target startups.
- BR Startups Pioneering Brazilian multi-corporate venture capital fund managed by MSW Capital, the first Brazilian fund to bring together renowned corporations as investors in startups. Invested in more than 15 companies across Brazil, the United States, Israel, and Argentina within 4 years.
- MSW Corporate Venture Capital Management Service End-to-end Corporate Venture Capital (CVC) program management offering in which MSW conducts the full investment cycle on behalf of corporate investors, including deal origination, screening, investment decision, portfolio company development, and exit strategy. Designed for corporations seeking to launch or strengthen CVC programs as a pillar of their innovation strategy.
Quantifiable outcome
- BR Startups fund invested in 15+ companies in 4 years across Brazil, USA, Israel, and Argentina
- +3 more outcomes
Companies that use MSW Capital
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
MSW Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
MSW Capital partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- EmbraercoreEmbraer is a corporate investor in MSW Multicorp II fund with a focus on aerospace-adjacent startup investments, including service technology for the aerospace sector and adjacent markets (Agtech, Cargo & Logistics), precision agriculture aerial solutions, and cargo transport with unmanned aircraft.
- Algar GroupcoreAlgar Group is a corporate investor in BR Startups fund, with Algar's VP of Strategy and Innovation Clau Sganzerla (now MSW advisory board member) publicly endorsing MSW's unique multi-LP involvement model.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
MSW Capital competitors and assessment
Company assessmentDirect peers
- Kaszek Ventures: Latin America's largest venture capital firm focused on early-stage tech startups in Brazil and Spanish-speaking Latin America. Direct peer to MSW Capital in Brazilian early-stage VC investing, though Kaszek pursues a generalist thesis rather than a multi-corporate LP model.
- monashees: Brazilian early-stage venture capital firm investing in seed and Series A tech startups. Operates a single-LP fund model rather than MSW's multi-corporate structure, but competes directly for the same founder pipeline and sector deals in Brazil.
- Canary: Brazilian pre-seed and seed venture capital firm that pioneered early-stage funding for Brazilian tech startups. Comparable to MSW Capital in Brazilian early-stage deal flow, though Canary focuses on smaller initial checks and does not offer a multi-corporate smart capital layer.
- Valor Capital Group: US-Brazil cross-border venture capital firm investing in Brazilian tech startups and US companies entering Latin America. Direct peer given MSW's BR Startups fund also invests in US and Israel, and both firms serve the Brazilian tech founder ecosystem.
- DNA Capital: Brazilian venture capital firm with a multi-LP corporate structure and focus on deep-tech and industry-focused startups. Highly comparable to MSW Capital's multi-corporate fund model, particularly MSW Multicorp II's industrial sector focus (Aerospace, EnergyTech).
- Bossanova Investimentos: Brazilian early-stage VC firm focused on minority equity investments in tech startups. Operates in the same seed/Series A segment as MSW Capital, with a similar Brazilian market focus, though typically with smaller ticket sizes and a single-LP fund structure.
- SP Ventures: Brazilian agtech-focused venture capital firm backed by corporate LPs from the agribusiness sector. Comparable to MSW Capital's sector-focused multi-corporate fund model (BB Ventures' Agritech exposure) and demonstrates the corporate-LP-backed specialized VC model MSW has pioneered.
Broad incumbents
- Bradesco (CVC arm): Major Brazilian bank with corporate venture capital activity. Represents the broad incumbent alternative — a large corporation running its own CVC program rather than outsourcing to MSW Capital. Highlights the in-sourcing risk to MSW's corporate LP relationship model.
Emerging players
- Astella: Brazilian venture capital firm investing in early-stage tech startups with a focus on emerging managers and follow-on support. An emerging player in the Brazilian VC ecosystem that intersects with MSW Capital's deal flow at the seed/Series A stages.
- Atlantico: Latin American venture capital firm investing in early-stage tech companies across the region. An emerging player that competes with MSW Capital in select cross-border Brazilian startup deals and represents a newer model in the regional VC landscape.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
MSW Capital social profiles
Digital presenceMSW Capital compliance and trust
Trust signalCompliance2 records
MSW Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
MSW Capital leadership team
Management profileNumber of profiles
Profiles5 records
MSW Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MSW Capital M&A and investment
M&A and investmentM&A
Investments24 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MSW Capital
What does MSW Capital do?
MSW Capital is a Brazilian asset management firm that manages multi-corporate venture capital funds, pooling corporate investors as limited partners to make minority equity investments of R$2M–R$15M in tech-based startups at seed and Series A stages. The firm provides end-to-end fund management covering deal origination, screening, investment, portfolio company development, and exit, while transferring "smart capital" (commercial contracts, co-development, POCs, governance mentoring) from corporate LPs to portfolio startups. Key managed funds include BR Startups, BB Ventures (for Banco do Brasil), and MSW Multicorp II.
Is MSW Capital a public or private company?
MSW Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was MSW Capital founded?
MSW Capital was founded in 2000. It employs 1 to 10 people.
Where is MSW Capital based?
MSW Capital is headquartered in Rio De Janeiro, Brazil, in the Latin America region.
How does MSW Capital make money?
Three revenue lines are on record. Fund management fees are the primary driver. The others are carried interest / performance returns and legacy consulting and education services.
Who are MSW Capital's main competitors?
Direct peers on record are Kaszek Ventures, monashees, Canary, Valor Capital Group, DNA Capital, Bossanova Investimentos and SP Ventures. Bradesco (CVC arm) is listed as a broad incumbent. Emerging players are Astella and Atlantico.
Does MSW Capital have an API?
No public API is recorded for MSW Capital.
What industry is MSW Capital in?
MSW Capital's product category is Venture Capital / Asset Management. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAGAC, Venture Capital Fund-of-Funds. Its NAICS code is 52394 and its SIC code is 6211.