Monashees Research
Investment Thesis
Monashees is Latin America's pioneering venture capital firm, founded in 2005. The firm's guiding principle is "The future is human" – backing technology that enhances human potential rather than merely pursuing "fancy tech." For nearly 20 years, Monashees has invested in Latin American technology-based companies, building a unique ecosystem and supporting founders at every stage from inception to IPO.
The fund's thesis centers on human-centered technology with positive impact. Monashees backs passionate founders revolutionizing large markets through innovative tech solutions. They focus on sustainable, long-lasting businesses that contribute meaningfully to society while driving economic transformation in Latin America and beyond.
Stage Focus
Monashees invests across multiple stages:
- Pre-Seed: Early-stage capital for prototype development and proof-of-concept
- Seed: $250K-$5M for teams with initial product and traction
- Series A: Follow-on investments for companies with product-market fit
- Growth and Later Stages: Selective participation in proven portfolio companies
The firm increasingly participates in later rounds for successful portfolio companies, demonstrating belief in long-term partnerships through the entire company lifecycle.
Check Size
- Typical Range: $250,000 - $5,000,000
- Pre-Seed: $250K-$500K for prototype/MVP validation
- Seed: $1M-$3M for companies with early traction
- Series A and Beyond: Variable based on company maturity and growth trajectory
The firm maintains reserves for follow-on investments, signaling strong commitment to portfolio success through multiple funding rounds.
Investment Activity
Monashees maintains active deployment across all stages. Recent investments include:
- January 2026: Pomelo (Series C round)
- December 2025: Rivio (healthcare enterprise systems)
- 2025: Continued activity across seed and series A rounds
The fund demonstrates consistent activity through market cycles, maintaining operations across multiple regional offices in São Paulo, Mexico City, and San Francisco with global reach throughout Latin America, the US, and Europe.
Portfolio Highlights
Monashees has invested in 300+ companies over 20 years with ~150+ active portfolio companies. Notable exits and unicorns include:
Recent Notable Portfolio Companies:
- Pomelo (Fintech): Leading digital banking and financial services platform
- Neon (Fintech): Unicorn fintech company bringing financial services into 21st century
- Clara (Marketplace): E-commerce unicorn
- MadeiraMadeira (Ecommerce): Unicorn home/building materials marketplace
- NowPorts (Logistics): Supply chain digitalization platform
- Uala (Fintech): Unicorn Latin American fintech
- Slope (B2B Payments): AI-powered wholesale payments platform
- Music.ai (AI/Entertainment): Music production AI tools
- Rappi (On-demand delivery): Major Latin American delivery platform
- Cambly (Edtech): Global English learning platform
- Pipedrive (Enterprise SaaS): CRM platform (early investment, global expansion)
The portfolio spans enterprise software, fintech, marketplace/ecommerce, edtech, SaaS, AI/ML applications, and services with strong emphasis on solving real Latin American economic challenges.
Team
Leadership:
- Eric Acher: Co-Founder & Managing Partner (founded firm in 2005)
- Marcelo Lima: General Partner
- Caio Bolognesi: General Partner
- Fabiola Quinzaños: Partner
- Muriel Kaufmann: Partner and General Counsel
- William Mimassi Pedroso: Partner, Operations and Investor Relations
- Aline Esteves: Partner, People
- Fabio Igel: Co-Founder and Partner Emeritus (founder)
Investment Team:
- Marcelo Gobato: Principal
- Lindemberg Samuel: Associate
- Jaime Barrenechea: Associate
Operational Leadership:
- Andres Campero: Head of AI (emerging AI focus)
- Jan Kishi Diniz: Head of Founder Journey
- Gustavo Silvano: Head of Finance
- Marianne Lucilio: Head of Community and Talent
Venture Partners:
- Carlo Dapuzzo, Guto Araujo, Rodrigo Aldrighi, Sullyen Almeida (Scout Partners)
Total team: 27 professionals including 6+ partners
Decision Process & Timeline
Decision Structure:
- Partnership-based with multiple stakeholders in major decisions
- Structured investment committee for portfolio decisions
- Managing partners hold significant decision authority
Investment Process:
- Warm introductions strongly preferred but not always required for exceptional founders
- Relatively efficient decision timelines typical for seed/series A stage
- Founder relationship and team assessment critical to decision
Geographic Focus & Expansion
- Primary: Latin America (especially Brazil, Mexico, Chile, Colombia)
- Secondary: US offices in San Francisco for global connections
- Tertiary: Selective investments in Europe through Paris/London presence
- Strategy: "Global Latam" approach - connects LatAm founders to global capital and talent
Trilingual firm (Spanish, Portuguese, English) with local presence across major Latin American hubs.
Value-Add & Support
Monashees emphasizes true partnership through comprehensive founder support:
Operational Support:
- Talent acquisition assistance (extensive global recruitment expertise)
- Company building and scaling advice (20 years VC experience in LatAm)
- Leadership development and team structure guidance
- Compensation design and company culture building
Financial Support:
- Fundraising introductions to global funds
- Follow-on financing guidance through growth stages
- Exit strategy support
Network Access:
- Expert network including industry specialists, seasoned founders, and strategic partners
- Community of 300+ founders (150+ current portfolio companies) for collaboration and peer learning
- Co-investor relationships for lead introductions
Specialized Expertise:
- Head of AI specifically supporting portfolio in emerging AI applications
- Founder Journey team dedicated to founder experience and support
- Local operations teams managing LP relationships and fund administration
Lead Tendency
Follows and Co-Leads:
- Typically co-leads or participates in rounds rather than strictly leading
- Often brings operational expertise and founder relationships rather than capital as primary value
- Will lead pre-seed and seed rounds for exceptional founders in core thesis areas
- Flexible approach: leads when fund has conviction, participates when adding specific value
Founder Preferences
Monashees seeks passionate, mission-driven founders who:
- Focus on solving real market problems with human impact
- Demonstrate deep market understanding and domain expertise
- Show resilience through entrepreneurial challenges and market cycles
- Embrace long-term vision over short-term hype
- Value partnership and mentorship from experienced investors
The firm explicitly supports female founders and underrepresented entrepreneurs as part of long-term ecosystem building commitment.
Notable Track Record
- Portfolio Exits: 38+ exits including multiple unicorns
- Hit Rate: Approximately 5% unicorn creation rate from 81 portfolio companies
- Longevity: 20+ years navigating venture capital cycles since 2005
- Scale: 300+ total investments, 150+ current portfolio companies
Recent Strategic Focus
Emerging area: AI & Emerging Technologies
- Dedicated AI team lead (Andres Campero, Head of AI)
- Supporting portfolio companies leveraging AI (e.g., Music.ai, SlopeGPT)
- Positioning for next wave of AI-driven Latin American innovation
Decision Timeline
- Seed/Series A: Typically 2-4 weeks from term sheet to close
- Pre-seed: Faster process, 1-2 weeks possible
- Series B and beyond: Variable, typically 4-8 weeks
- Warm introductions accelerate process significantly
Warm Introduction Requirement
Preferred but not absolute requirement. Warm introductions from trusted founders or partners significantly accelerate process and improve odds of partnership.
Typical Involvement
- Board representation: Partial or observer seats depending on round and fund participation percentage
- Active involvement: Regular check-ins with Head of Founder Journey and relevant partners
- Follow-on flexibility: Committed reserves for future rounds of strong performers
- Network access: Immediate introduction to expert network and community of 300+ founders
Fund Status
- Actively Deploying: Fund remains in active investment phase with 2025-2026 investments ongoing
- Multiple Fund Generations: Monashees has raised multiple funds (Monashees X and beyond)
- Continuous Innovation: Dedicated AI team reflects ongoing adaptation to market evolution
Investment Model Philosophy
"True partnership" anchors Monashees' approach with practical operational support, making founders comfortable calling on the firm in good and challenging times.