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Outcast Capital is a Brazilian early-stage venture capital firm that focuses on the agri-food value chain across Latin America. Founded in 2020 by José Rodolpho Bernardoni and Thiago HC, the firm officially launched in 2022. The founders' backgrounds in food operations rather than traditional finance inform the firm's investment strategies. Outcast Capital aims to support innovative startups in agriculture and related sectors, leveraging their operational insights to guide portfolio companies.
The firm has a target fund size of $25 million and aims to build a portfolio of approximately 20 companies over two years. Outcast Capital is based in Brazil, with a primary focus on the Brazilian startup ecosystem, mapping around 450 of the 600 startups in the region. The firm has raised 15% of its fund from Brazilian family offices, indicating a strong local investor base.
Outcast Capital specializes in the agri-food value chain, investing in sectors such as agtech, food-agtech, and biotechnology. The firm targets startups at various stages, from pre-seed to Series A, and typically writes checks of around $150,000, with an average investment of R$2–3 million. Outcast Capital reserves approximately 60% of its fund for follow-on investments, demonstrating a commitment to supporting portfolio companies through multiple funding rounds.
The firm emphasizes the science behind capital acquisition, providing insights and strategies for startups to secure investments from angel investors and venture capital funds. Outcast Capital's investment thesis has evolved to encompass strong operators in agriculture, supply chain, retail, consumer services, and biotechnology, reflecting a broader approach to the agri-food sector.
Outcast Capital has invested in a diverse range of companies within the agri-food sector. Notable portfolio companies include:
These investments highlight Outcast Capital's focus on innovative solutions within the agri-food value chain, showcasing their commitment to supporting growth in this sector.
José Rodolpho Bernardoni - Co-founder. Bernardoni previously founded GoLight, a healthy snack delivery service, which was later sold to Sapore. His extensive background in food operations informs Outcast Capital's investment strategies.
Thiago HC - Co-founder. HC's background details are less documented, but he plays a crucial role in shaping the firm's investment thesis and operational strategies.
Miriam Yokoyama - Contributor. Yokoyama contributes to the firm's operational insights and investment strategies.
Edson Rigonatti - Contributor. Rigonatti supports the firm with his expertise in the agri-food sector, enhancing the firm's ability to guide portfolio companies.
Startups interested in pitching to Outcast Capital should visit their website at outcast.capital. They should prepare a pitch deck that includes a clear business model, market analysis, and details about the team. Outcast Capital prefers to receive pitches through their website and values warm introductions, although they do not require them.
Response times may vary, but founders can expect to hear back within a few weeks after submission.
In 2022, Outcast Capital launched its first fund with a target size of $25 million, focusing on the agri-food value chain across Latin America. The firm has successfully raised 15% of its fund from Brazilian family offices.
Outcast Capital has been active in the startup community, providing resources like the 'Capital Track,' a comprehensive map of investors in Brazilian startups. They have highlighted their involvement with notable companies such as Covalenty and Hypnobox, showcasing their commitment to supporting growth through strategic capital acquisition.
What are Outcast Capital's investment criteria?
Outcast Capital focuses on the agri-food value chain, investing in sectors such as agtech, food-agtech, and biotechnology. They target startups at pre-seed to Series A stages, typically investing around $150,000 per company.
How can startups apply or pitch to Outcast Capital?
Startups can pitch to Outcast Capital through their website at outcast.capital. They should include a clear business model, market analysis, and details on their team and product.
What makes Outcast Capital different from other venture capital firms?
Outcast Capital's founders have operational backgrounds in food rather than traditional finance, allowing them to provide unique insights and strategies for startups in the agri-food sector.
What is Outcast Capital's geographic focus?
The firm primarily focuses on Brazil, mapping around 450 of the 600 startups in the region, but also considers opportunities across Latin America.
What is Outcast Capital's post-investment involvement?
Outcast Capital actively supports its portfolio companies by providing insights into fundraising strategies and growth opportunities, leveraging their operational expertise in the agri-food sector.
What is the typical fund size and check size for Outcast Capital?
The firm has a target fund size of $25 million and typically invests around $150,000 in each startup, with a reserve strategy for follow-on investments.
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