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Bicycle Capital is a growth equity fund launched in 2023, focusing on investments in Latin America, particularly in Brazil and Mexico. The firm targets tech-driven companies that have demonstrated proven product-market fit and sales traction. With a fund size of $500 million, Bicycle Capital aims to support businesses that prioritize sustainable growth over merely achieving unicorn status.
The firm was founded by a team with extensive experience in the venture capital space, including former executives from SoftBank. Bicycle Capital's leadership is committed to identifying and investing in companies that are building durable growth models, particularly in sectors such as fintech, B2B SaaS, logistics, and commerce.
As of now, Bicycle Capital has established a notable presence in the Latin American market, with a focus on supporting the region's entrepreneurial ecosystem. The firm is backed by significant commitments from key limited partners, including Mubadala Investment Company and Claure Group, which further solidifies its position in the market.
Bicycle Capital specializes in growth equity investments, primarily targeting Series B and pre-IPO stages. The firm seeks to support companies with established business models and sales traction, particularly in the rapidly evolving Latin American market. Their investment strategy emphasizes sectors such as fintech, B2B SaaS, logistics, and commerce, which are expected to drive significant growth in the region over the next decade.
The firm is particularly focused on Brazil and Mexico, believing these markets present the best opportunities for durable growth businesses. Bicycle Capital explicitly avoids chasing unicorns, instead prioritizing companies that demonstrate sustainable growth and a solid foundation. Their check sizes range from $30 million to $50 million, allowing them to make substantial investments in promising companies.
Bicycle Capital's portfolio includes several notable companies that exemplify its investment strategy:
These investments reflect Bicycle Capital's commitment to supporting tech-driven companies that have established a strong market presence and are poised for growth. The firm is likely to expand its portfolio further, given its substantial fund size and focus on the Latin American market.
Marcelo Claure - Executive Chairman & Managing Partner; previously served as CEO of SoftBank Group International and founded Claure Group, a multi-billion-dollar family office.
Shu Nyatta (Mwashuma Nyatta) - Managing Partner; co-founder of SoftBank's $8 billion Latin America Funds and previously invested $7.5 billion at SoftBank.
To pitch Bicycle Capital, founders should email their pitch deck to founders@bicycle.capital. The deck should include details about the business model, market opportunity, and traction. A clear articulation of how the startup aligns with Bicycle Capital's investment focus on durable growth businesses in Latin America is essential. Founders can expect a response within a few weeks, but timelines may vary based on deal flow.
In April 2023, Bicycle Capital announced its official launch with a target fund size of $500 million. The firm has already made significant investments, including a $55 million Series B round for Cayena, a B2B marketplace for food service in Brazil. Other investments include Fina Partner in Venezuela and Mottu in Brazil, showcasing the firm's commitment to supporting tech-driven companies in Latin America.
As of 2024, Bicycle Capital continues to attract attention in the venture capital space, with coverage from various media outlets, including Bloomberg Línea and ImpactAlpha, highlighting its focus on durable growth businesses in the region.
What are Bicycle Capital's investment criteria?
Bicycle Capital focuses on growth stage investments, specifically targeting Series B and pre-IPO companies. They look for businesses with proven product-market fit, established business models, and sales traction, particularly in sectors like fintech, B2B SaaS, logistics, and commerce.
How can founders pitch to Bicycle Capital?
Founders can reach out to Bicycle Capital via email at founders@bicycle.capital. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and traction to date.
What makes Bicycle Capital different from other investors?
Bicycle Capital distinguishes itself by focusing on durable growth businesses rather than chasing unicorns. Their leadership team has extensive experience in the venture capital space, particularly with SoftBank, which enhances their ability to provide strategic guidance and operational support.
What is the geographic focus of Bicycle Capital?
The firm primarily invests in Latin America, with a strong emphasis on Brazil and Mexico. They believe these markets present significant growth opportunities for tech-driven companies.
What is the typical check size for investments?
Bicycle Capital typically invests between $30 million and $50 million per deal, allowing them to make substantial contributions to their portfolio companies.
What kind of support do portfolio companies receive?
Bicycle Capital provides strategic guidance, operational support, and access to a broad network of industry contacts to help portfolio companies scale effectively in the competitive Latin American market.
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