Namari Capital

What Namari Capital does

Namari Capital is a São Paulo-based venture debt firm that structures and executes non-dilutive credit solutions for innovative Brazilian companies. Founded and led by Gabriela Gonçalves, who previously led Brasil Venture Debt (Brazil's first venture debt fund) and co-founded Lazada (Rocket Internet), the firm targets growth-stage startups with minimum monthly revenue of R$ 700 thousand and minimum financing needs of R$ 5 million BRL. Its product suite spans seven credit use cases: runway extension, equity round leverage, working capital, M&A financing, CAPEX financing, captable restructuring, and investment in financial vehicles such as FIDC subordination.

The firm's operational workflow progresses from founder introductory meetings through indicative proposal, binding proposal, credit committee approval, due diligence, and disbursement, followed by quarterly financial/KPI monitoring, annual audits, and quarterly monitoring meetings. Capital deployment is supported by a strategic partnership with Augme Capital, an independent private credit manager with over R$ 3 billion BRL in AUM, while Namari Capital manages the Brasil Venture Debt vehicle. The team has structured R$ 230+ million BRL across 25+ completed operations, with a disclosed portfolio of 24+ named Brazilian startups.

Revenue is generated through interest on originated venture debt (typically indexed to CDI or IPCA plus a spread, billed monthly) and variable kicker/success fees tied to revenue or EBITDA targets or liquidity events (new equity rounds, M&A, or IPO), which can be cash, equity, or profit-participation instruments. The go-to-market is sales-led direct outreach to founders, supported by a content marketing blog and a LinkedIn corporate presence for top-of-funnel education on venture debt mechanics. The company is privately held, founder-controlled, and operates exclusively in Brazil.

Name

Namari Capital

Legal name

Namari Capital

Website

https://namaricapital.com.br

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Namari Capital is a São Paulo-based venture debt firm that structures non-dilutive credit solutions — runway extension, equity round leverage, working capital, M&A financing, CAPEX, and captable restructuring — for innovative Brazilian growth-stage companies with at least R$ 700 thousand in monthly revenue.

Ownership category

akta.pro rank

Product category

Venture Debt Financing

NAICS

Other Investment Pools and Funds (5259)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Direct Lending — Venture Debt (FSAHAJAD)

akta.pro secondary industry

SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Venture debt financing
• Non-dilutive capital
• Growth-stage lending
• Credit structuring services
• Alternative debt funding

Headquarters

HQ city

São Paulo

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

Revenue model

1. Venture Debt Interest Income: Interest payments on venture debt financing, typically charged monthly on the outstanding principal. Rates are commonly indexed to CDI or IPCA plus a spread.
2. Kicker (Success Fee): Variable remuneration component due when companies achieve specific financial targets (Revenue or EBITDA goals) or in liquidity events such as new equity rounds, company sale, or IPO. Can be structured as cash payment, stock options, or profit participation.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Namari Capital is a venture debt fund that structures and executes non-dilutive credit operations for innovative Brazilian companies. Core offerings include venture debt financing applied to runway extension, equity round leverage, working capital, M&A financing, captable restructuring, CAPEX financing, and contributions to financial vehicles such as FIDCs, plus post-investment monitoring and reporting services.

Product overview

Namari Capital operates as a venture debt provider offering a portfolio of non-dilutive credit solutions to innovative Brazilian companies. Their core offering consists of venture debt products including runway extension, equity round leverage, working capital, M&A financing, CAPEX financing, captable restructuring, and investments in financial vehicles. The company structures operations through indicative and binding proposals, with ongoing monitoring and reporting throughout the debt lifecycle. Their process encompasses six stages from initial contact through disbursement, with typical timelines of approximately two months from first conversation to fund release.

Differentiator

Problem solved

Functional benefit

Products and services

• Venture Debt Financing Non-dilutive credit facility for innovative Brazilian companies, structured as venture debt and applied across multiple use cases including runway extension (Extensão de Runway), equity round leverage (Alavancagem de Rodadas Equity), working capital (Capital de Giro), M&A financing, captable restructuring (Reestruturação de Captable), CAPEX financing (Financiamento de CAPEX), and investment in financial vehicles such as FIDCs (Aportes em Veículos Financeiros). Interest is typically indexed to CDI or IPCA plus a spread, charged monthly on outstanding principal. Minimum cheque size of R$ 5 million and minimum borrower monthly revenue of R$ 700 thousand. Process includes indicative proposal, binding proposal, credit committee approval, due diligence, and disbursement, typically completing in approximately two months.
• Monitoring and Reporting Services Quarterly financial and KPI reporting, annual audits, and quarterly monitoring meetings provided to portfolio companies throughout the duration of the venture debt facility to track performance against financial and operational covenants and milestones.

Quantifiable outcome

• R$ 230+ million BRL structured in venture debt operations
• +1 more outcomes

Named customers24 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Brasil Venture Debt: Brazil's first venture debt fund, managed by Namari Capital itself. Directly comparable as a pioneer Brazilian venture debt vehicle with 14 completed operations and 100% capital return to investors. Their management overlap makes this effectively Namari's prior fund vehicle.
• Kanastra: Brazilian venture debt fintech providing structured credit to startups and SMEs. Competes directly for the same Series A+ Brazilian borrower base with non-dilutive capital solutions and a tech-enabled origination platform.
• Quasar Capital: Brazilian alternative credit manager focused on venture debt and structured credit for growing companies. Directly competes with Namari Capital for innovative Brazilian startup borrowers.
• Mercado Capital: Brazilian venture debt and growth credit manager focused on innovative companies. Comparable in product offering and target market to Namari Capital.

Others

• Augme Capital: Brazilian private credit manager with R$ 3B+ AUM and Namari's core capital partner. Operates in adjacent credit strategies and provides deployment capital; not a direct competitor but a key ecosystem partner.

Broad incumbents

• Banco BV: Large Brazilian commercial bank that has been active in venture debt and growth-stage lending. Competes for the same borrowers but as part of a diversified banking franchise rather than a pure-play venture debt specialist.
• BTG Pactual: Major Brazilian investment bank with significant credit and alternatives businesses that overlap with venture debt. Their scale and balance sheet represent a broader-incumbent threat to specialized venture debt managers.
• XP Inc. Brazil's largest independent brokerage with growing alternatives and credit businesses. Serves as both a potential LP channel and a broad incumbent whose structured credit products overlap with Namari's venture debt offering.

Emerging players

• Darwin Capital: Emerging Brazilian alternative credit manager investing in venture debt and structured credit for growth-stage companies. Comparable in target market and product structure to Namari though smaller and earlier stage.

Regional players

• Kaszek Ventures: One of the largest LATAM-focused venture capital firms. Serves as a complementary capital provider rather than direct competitor, but their portfolio companies overlap with Namari's potential borrowers and they often co-invest or recommend venture debt partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nilla-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments15 records

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

Frequently asked questions about Namari Capital