What Fir Capital does

FIR Capital Partners – Gestão de Investimentos is a privately held Brazilian alternative investment firm founded in 1999 and headquartered in Nova Lima, Minas Gerais. The firm operates two core business lines: (1) Venture Capital and Private Equity fund management, deploying R$10 million to over R$100 million per transaction across high-growth Brazilian companies, and (2) Fund Administration Services, providing CVM-compliant fiduciary, KYC/AML, PLD/FT, and reporting functions to third-party fund sponsors under ICVM 175 and ANBIMA standards. Across 25+ years, FIR Capital has structured 10+ funds, surpassed R$1 billion in assets under management, invested in 50+ companies, and documented 20+ exit/success cases.

The firm positions itself as a hands-on, active partner to portfolio companies rather than a passive capital provider, offering strategic guidance, governance structuring, M&A/IPO preparation, and introductions across the Brazilian innovation ecosystem (other VC/PE funds, development agencies, financial institutions). Its revenue model is built on recurring fund management fees charged on AUM, with proprietary capital co-invested alongside fund capital to align interests. The customer base is institutional: pension funds, development agencies, family offices, and entrepreneur-investors acting as LPs, plus portfolio companies across fintech, biotech, healthtech, edtech, and logistics tech.

FIR Capital is CVM-registered, ANBIMA-certified (with the Permanent Management seal), a member of ABVCap, a signatory to the UN Principles for Responsible Investment, and was twice elected Best Fund Manager in Brazil. The firm has a stated team of 10–15 personnel, including founding partners Andre Emrich (CEO), Guilherme Emrich, and Marcus Regueira; Managing Partner Geraldo Moura; and Principal Caio Feijó.

Name

Fir Capital

Legal name

FIR Capital Partners

Website

https://fircapital.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

FIR Capital Partners is a Brazilian venture capital and private equity firm founded in 1999, managing R$1 billion+ in AUM across 10+ funds. It serves institutional investors as LPs and high-growth entrepreneurs across fintech, biotech, healthtech, edtech, and logistics, and also provides CVM/ANBIMA-compliant fund administration services.

Ownership category

akta.pro rank

Product category

Private Equity and Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

Keywords

• Venture capital management
• Private equity management
• Fund administration services
• Alternative investments
• Portfolio company growth

Headquarters

HQ city

Horizonte

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: FIR Capital generates revenue through management fees charged on funds under administration, as a CVM-registered and ANBIMA-certified investment fund administrator and manager.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

FIR Capital actively manages venture capital and private equity funds that invest growth capital (R$10M to over R$100M per deal) into high-growth Brazilian companies, while also providing CVM- and ANBIMA-compliant fund administration services (fiduciary functions under ICVM 175, KYC/AML, periodic reporting). The firm operates as both a hands-on investment partner to entrepreneurs and a regulated third-party fund administrator for institutional investors.

Product overview

Fir Capital operates as an alternative investment firm with two main service lines: (1) Fund Management covering Venture Capital and Private Equity funds that invest in high-growth companies, and (2) Fund Administration services that provide regulatory compliance, operational oversight, and fiduciary functions for third-party investment funds. The firm positions itself as an active partner to entrepreneurs, offering not just capital but strategic guidance, connections to the innovation ecosystem, and support for business scaling, new funding rounds, consolidation efforts, and governance implementation.

Differentiator

Problem solved

Functional benefit

Products and services

• Venture Capital Fund Management Active management of venture capital funds focused on early to late-stage high-growth Brazilian companies, with hands-on involvement in portfolio companies' strategy, governance, and growth. Targeted at institutional investors (pension funds, family offices, development agencies, entrepreneur-investors) and deployed alongside portfolio companies as a hands-on partner.
• Private Equity Fund Management Management of private equity funds investing in established Brazilian businesses with strong fundamentals and scaling potential, offering strategic guidance and growth capital. Investment sizes range from R$10 million to over R$100 million per deal, with the firm acting as leader or co-investor.
• Fund Administration Services Comprehensive administration of investment funds including fiduciary functions under ICVM 175, regulatory compliance with CVM regulations, operational oversight, KYC/AML and PLD/FT procedures, internal controls, and periodic reporting to CVM, ANBIMA, and investors. Provided to fund sponsors and managers seeking a regulated third-party administrator.

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• ABVCapcoreOthersFIR Capital is a member of ABVCap (Associação Brasileira de Private Equity e Venture Capital), the Brazilian Private Equity and Venture Capital association, representing and advancing the industry in Brazil.
• CVMcoreOthersFIR Capital operates as a CVM (Comissão de Valores Mobiliários)-registered administrator and manager, fully compliant with ICVM 175 and Brazilian securities regulations.
• ANBIMAcoreOthersFIR Capital holds ANBIMA (Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais) certification and bears the ANBIMA Permanent Management seal, indicating compliance with ANBIMA's best practice standards.
• PRI – Principles for Responsible InvestmentminorOthersFIR Capital is a signatory to the UN PRI (Principles for Responsible Investment), demonstrating commitment to ESG and sustainable investment practices.
• Leaders LeagueminorOthersFIR Capital is ranked by Leaders League in the Brazil Best Private Equity Investment Funds 2025 ranking.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Vinci Partners: Brazilian publicly listed alternative investment platform covering PE, VC, credit, and infrastructure. Comparable to FIR Capital as a Brazilian alternatives manager with PE/VC strategies, though significantly larger in scale and broader in product scope.
• SPX Capital: Brazilian alternative investment firm with multi-strategy funds including private equity. Comparable to FIR Capital as a domestic Brazilian asset manager operating alternative strategies with institutional LPs.
• Gávea Investimentos: Brazilian alternative asset manager (now part of Vinci Partners group) historically focused on PE and multi-strategy alternatives. Comparable to FIR Capital as a Brazilian PE-led alternative manager with established institutional LP base.
• BTG Pactual: Major Brazilian investment bank with significant alternatives, VC, and PE operations. Comparable as a Brazilian financial institution with VC/PE capabilities, though far larger and broader than FIR Capital's focused alternatives offering.

Direct peers

• Valor Capital Group: Brazil-US cross-border venture capital firm. Comparable to FIR Capital as a Brazil-rooted VC with active investment approach, with an additional US market angle that differentiates it slightly.
• Kaszek Ventures: Latin American venture capital firm with strong Brazil presence and active participation in growth-stage rounds. Comparable to FIR Capital as a regional VC with hands-on portfolio support and similar stage focus in technology-enabled businesses.
• Monashees: Brazil-focused venture capital firm investing across early and growth stages. Directly comparable to FIR Capital on geography (Brazil-domiciled), stage range, and active investment approach with comparable fund sizes and sector breadth.
• Crescera Investimentos: Brazilian private equity and growth capital firm managing multiple funds. Directly comparable to FIR Capital as a domestic alternatives manager combining PE and growth equity strategies with similar ticket sizes in the Brazilian market.
• 23S Capital: Brazilian venture capital firm investing across multiple stages. Comparable to FIR Capital as a Brazil-domiciled active VC with multi-fund structure and similar entrepreneurial ecosystem focus.

Emerging players

• Indicator Capital: Brazilian venture capital firm investing in early-stage technology and impact ventures. Comparable to FIR Capital as a Brazilian VC, though typically focused on earlier stages and impact themes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dfj-fir-capital-partners

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fir Capital