What Flame Ventures does

Flame Ventures is a Brazil-based, seed-stage venture capital firm founded in 2019 and headquartered in Rio de Janeiro. The firm invests in early-stage companies across both consumer and enterprise sectors, screening on three stated criteria: a great founding team, a large addressable market, and large-scale impact. Its differentiated pitch is an entrepreneur-friendly, agile process with fast execution post-decision and a hands-off post-investment posture that supplies capital, connections, and on-demand advisory rather than heavy operational involvement. The firm is led by founder and managing partner Andréa Nogueira, CFA, and claims 13 years of combined operator-investor experience (4 years at a Silicon Valley global tech company plus 9 years of seed investing) as well as a curated network of experts, entrepreneurs, and investors spanning 17 countries that it activates on behalf of portfolio companies.

The business model is a traditional seed-stage VC structure: Flame Ventures deploys its own or fund capital into startups in exchange for equity, with returns expected through exits (acquisitions, IPOs, secondary sales). Management fees and carried interest are implicit but not disclosed in the source material. The disclosed portfolio comprises nine companies — Back4app, Revelo, Linkett, Mobees, Meusprecos, Stopclub, Priced, Smartmei, and Mangos — spanning HR/talent, developer infrastructure, fintech-adjacent tools, and consumer applications. The firm has 1–10 employees, no disclosed LP base, no disclosed fund size, and no public revenue, funding, or valuation figures; its website references a portfolio "combined valuation" in the millions of dollars range without specifying the figure.

Name

Flame Ventures

Legal name

Flame Ventures

Website

https://flame.ventures

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Flame Ventures is a Brazil-based, Rio de Janeiro-headquartered seed-stage venture capital firm founded in 2019 that invests in consumer and enterprise startups, providing capital, advisory, and a 17-country network to portfolio companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns: Flame Ventures generates returns through equity investments in seed-stage companies. As a VC firm, they provide capital to portfolio companies in exchange for equity ownership, with returns realized through exits (acquisitions, IPOs, or secondary sales).

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Flame Ventures is a Brazil-based early-stage venture capital firm that provides seed capital, strategic connections, and advisory services to talented entrepreneurs building transformational companies. Investments target seed-stage startups across both consumer and enterprise sectors, screened against three criteria: great founding team, large addressable market, and large-scale impact. Beyond capital, the firm offers portfolio companies access to a global network spanning 17 countries and on-demand advisory support on business strategy, financing, and hiring.

Product overview

Flame Ventures is a Brazil-based early-stage Venture Capital firm that provides seed capital, connections, and advisory services to talented entrepreneurs building transformational companies. Rather than offering a unified product platform, the firm focuses on investing in seed-stage companies across both consumer and enterprise sectors. The firm's investment approach centers on three key criteria: great founding team, large addressable market, and large-scale impact. Beyond capital, Flame Ventures offers portfolio companies access to a global network of experts, entrepreneurs, and investors spanning 17 countries, providing advisory support for business strategy, financing, and hiring matters.

Differentiator

Problem solved

Functional benefit

Products and services

• Seed Capital Investment Equity seed funding provided to early-stage startup founders building transformational companies across consumer and enterprise sectors. Targets founding teams pursuing large addressable markets with large-scale impact.
• Portfolio Advisory Services On-demand advisory support for portfolio companies covering business strategy, financing rounds, and hiring decisions, delivered through a hands-off model where companies request support as needed.
• Strategic Network Access Access for portfolio companies to a curated network of experts, entrepreneurs, and investors across 17 countries in the technology ecosystem, used to support hiring, partnerships, and follow-on financing.

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 moves4 records

Expansion highlights3 records

Regional players

• Valor Capital Group: US-Brazil cross-border VC investing in early and growth-stage Latin American companies. Comparable in Brazil-focused mandate and dual market presence, though typically writing larger checks than a seed firm like Flame.
• DOMO Invest: Brazilian early-to-growth VC investing in consumer and enterprise. Comparable in domestic Brazilian orientation, though typically writes larger checks at Series A and beyond.
• ALLVP: Mexico-anchored early-stage VC investing across Latin America. Comparable in stage and thesis, but primarily competes with Flame on cross-border LatAm deals rather than purely Brazilian investments.

Direct peers

• NXTP Labs: Latin American early-stage VC and accelerator based in the region. Directly comparable as a seed-stage LatAm investor; competes with Flame for early consumer and enterprise deals in Brazil and beyond.
• Atlantico: Early-stage VC focused on Latin America with an emphasis on seed and Series A. Comparable in stage and geography; competes with Flame for Brazilian and broader LatAm seed opportunities.
• Canary: Brazilian pre-seed and seed VC that invests in early-stage Brazilian startups. Highly comparable in stage focus, geography, and ticket size — directly competes with Flame for the same seed deals.

Broad incumbents

• monashees: Brazil-based multi-stage VC investing from seed onward. Directly comparable to Flame as a domestic Brazilian VC, but with significantly larger fund sizes, broader sector coverage, and a longer track record of exits.
• Kaszek Ventures: Largest Latin America-focused venture firm, headquartered in Brazil. Both invest seed and early-stage in Brazilian startups; Kaszek operates across stages with much larger AUM, making it the dominant incumbent Flame competes against for early leads.
• 500 Global (formerly 500 Startups): Global early-stage VC and accelerator with active LatAm programs. Comparable in seed-stage focus and global network breadth, though at vastly larger scale than Flame.

Emerging players

• Quona Capital: Emerging-markets fintech and financial inclusion investor with active Brazil exposure. Comparable in emerging-market VC thesis and seed-stage orientation, though with a narrower vertical focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/flame-ventures

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

Investments

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

Frequently asked questions about Flame Ventures