The Brazil Perspective w/ Rodrigo Baer (14B Ventures)

For those who track, follow & invest in emerging markets, Brazil is a North Star. With a population of over 214M, Brazil is considered one of the top performing startup ecosystems in Latin America, and arguably in emerging markets. In 2025, Brazilian startups attracted US$2.03B across 363 deals, representing 52.9% of all LatAm venture funding. It also is a strong hub for fintech in the region, hosting 59% of all Latam fintech startups. It’s also home and headquarters to around 30 unicorns (companies worth $1B or more) – like NuBank, iFood, Gympass, Creditas and more.Rodrigo Baer is the Co-founder & Managing Partner at 14B Ventures, an early-stage venture capital fund that invests in startups in Latin America, and in this conversation he shares his perspective on the Brazilian market as well as the LATAM region generally, how it’s evolved, what he’s seeing work and not work, and the lessons you can translate to your market wherever you are in the world.