{"id":6745,"date":"2026-06-10T17:22:43","date_gmt":"2026-06-10T20:22:43","guid":{"rendered":"https:\/\/abvcap.com.br\/investir-em-startup-como-funciona-riscos-retorno-e-como-comecar-do-jeito-certo\/"},"modified":"2026-06-10T17:22:51","modified_gmt":"2026-06-10T20:22:51","slug":"investir-em-startup-como-funciona-riscos-retorno-e-como-comecar-do-jeito-certo","status":"publish","type":"post","link":"https:\/\/abvcap.com.br\/en\/investir-em-startup-como-funciona-riscos-retorno-e-como-comecar-do-jeito-certo\/","title":{"rendered":"Investing in startups: how it works, risks, returns, and how to start the right way."},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Investing in startups<\/strong> It is a way of investing capital in innovative companies with high growth potential, usually in early or expansion stages. In practice, the investor accepts more risk and less liquidity in exchange for the possibility of capturing returns well above average, especially if there is a future exit, such as an acquisition, new funding round, or IPO.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Interest in this market has increased along with the resumption of investments. By 2025, investments in startups in Brazil totaled... <a href=\"https:\/\/www.moneyreport.com.br\/negocios\/aportes-em-startups-somam-us-3-bi-e-atingem-maior-nivel-desde-2022\/\">US$ 3.04 billion, up 62.6% over 2024<\/a>. At the same time, it is a selective, long-term investment that requires careful analysis. In this guide, you will understand if it&#039;s worthwhile, what the investment options are, how to evaluate a startup, and what precautions to take before investing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key points<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Investing in startups can generate high returns.<\/strong>, However, the risk of total loss is real and needs to be addressed through diversification.<\/li>\n\n\n\n<li><strong>Liquidity is usually low.<\/strong>, ...and the gain typically occurs in exit events, such as M&amp;A, IPO, or sale in a future funding round.<\/li>\n\n\n\n<li><strong>Today it is possible to invest through regulated platforms.<\/strong>, with an online process and minimum investments that can start between R$ 1,000 and R$ 5,000, depending on the offer and the platform, such as <a href=\"https:\/\/captable.com.br\/\">Captable<\/a> e <a href=\"https:\/\/eqseed.com\/\">EqSeed<\/a>.<\/li>\n\n\n\n<li><strong>The startup analysis matters more than the idea in isolation.<\/strong>Market, founding team, traction, unit economics, governance, and valuation all make a difference.<\/li>\n\n\n\n<li><strong>This type of investment makes more sense as a small portion of the portfolio.<\/strong>, within an alternative and long-term investment strategy.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Investing in startups: what it is and how it works<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What does it mean to invest in startups?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When someone decides to invest in a startup, they are directing money towards a private company with an innovative proposition, a scalable model, and the potential for accelerated growth. In return, the investor may receive an immediate equity stake or an instrument that can be converted into equity in the future.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This investment can happen at different stages, from the ideation phase to more advanced rounds. The earlier the investment, the greater the risk tends to be. In return, the greater the potential for capital multiplication.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How does investing in startups differ from investing in stocks, fixed income, and funds?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The main difference lies in three points: risk, liquidity, and predictability. In listed stocks, there is a daily market and a visible price. In fixed income, there are clearer remuneration rules. In startup investments, however, the return depends on the business&#039;s performance and a future liquidity event.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here&#039;s a summary:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Type of investment<\/strong><\/td><td><strong>Risk<\/strong><\/td><td><strong>Liquidity<\/strong><\/td><td><strong>Potential return<\/strong><\/td><td><strong>Price transparency<\/strong><\/td><\/tr><tr><td>Fixed income<\/td><td>Low to medium<\/td><td>Medium to high<\/td><td>Low to medium<\/td><td>High<\/td><\/tr><tr><td>Actions<\/td><td>Medium to high<\/td><td>High<\/td><td>Medium to high<\/td><td>High<\/td><\/tr><tr><td>Multi-market funds<\/td><td>Average<\/td><td>Average<\/td><td>Average<\/td><td>Average<\/td><\/tr><tr><td>Startup<\/td><td>High<\/td><td>Low<\/td><td>Very high<\/td><td>Low<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Who can invest in startups in Brazil today?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Today, investing in startups in Brazil has become more accessible with the advancement of... <strong>equity crowdfunding<\/strong> and digital platforms. In many offers, individuals can participate with smaller tickets, provided the operation is structured within the applicable rules.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Platforms like <a href=\"https:\/\/captable.com.br\/\">Captable<\/a> and the <a href=\"https:\/\/eqseed.com\/\">EqSeed<\/a> They helped to expand this access. EqSeed reports having <a href=\"https:\/\/eqseed.com\/\">91,000+ accounts opened, 86 completed deals and over R$ 129.2 million invested.<\/a>. Captable, on the other hand, highlights <a href=\"https:\/\/captable.com.br\/\">R$ 584 million+ invested, more than 9,000 active investors and 105+ completed fundraising rounds.<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Is it worth investing in startups?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Potential return<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investing in startups is worthwhile for those seeking asymmetrical returns and who understand that a few winning investments can offset several losses. According to... <a href=\"https:\/\/abstartups.com.br\/quanto-um-investidor-ganha-com-uma-startup\/\">Abstartups<\/a>, The average time to exit is 6.8 years, with an average return of 5x the invested capital and an IRR of 26.7%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On platforms, there is also relevant data. EqSeed reports <a href=\"https:\/\/eqseed.com\/\">average return exceeding 40% per year in disclosed exits<\/a>, with significant cases in about 3 years. This does not guarantee future results, but it shows why this market attracts investors seeking growth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Main risks involved<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The other side of the coin is harsh: many startups fail. In a global context, Stripe highlights that <a href=\"https:\/\/stripe.com\/br\/resources\/more\/startup-statistics-you-should-know\">90% of startups don&#039;t survive<\/a>. Therefore, investing in startups requires accepting the possibility of losing all the invested capital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to operational risk, there is market risk, legal risk, execution risk, and dilution risk. It is also common for investors to experience liquidity problems for years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Most suitable investor profile<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This investment tends to make more sense for those who:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>already has an emergency fund;<\/li>\n\n\n\n<li>has a diversified portfolio;<\/li>\n\n\n\n<li>Accepts volatility and illiquidity;<\/li>\n\n\n\n<li>Think about the long-term horizon;<\/li>\n\n\n\n<li>understands that returns are not linear.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In general, investing in startups is better suited for investors who view this asset class as a satellite component of their portfolio, rather than the core of their wealth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>When does this type of investment make sense in a portfolio?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In practice, investing in startups usually makes sense when the investor is already exposed to more traditional asset classes and wants to include alternative assets. It can also be interesting for those who wish to participate in the growth of private companies before a possible initial public offering (IPO).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A good approach is to limit total exposure and diversify by sector, stage, and thesis. The idea of <a href=\"https:\/\/blog.eqseed.com\/diversificar-investimentos-duas-vezes\/\">\u201c&quot;diversify twice&quot;\u201d<\/a> Here&#039;s what&#039;s useful: diversify your overall portfolio and, within the startup portion, diversify across several investments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the ways to invest in startups?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Angel investor<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Angel investors typically provide capital in the early stages of investment, in addition to offering a network of contacts, experience, and strategic guidance. This is the logic behind what&#039;s called angel investing. <strong>smart money<\/strong>, when the investor adds more than just money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Typically, this format requires closer collaboration with the founders and a greater capacity for individual analysis.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Seed capital<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>seed capital<\/strong> It funds startups in the validation or early stages of operation. It is common at this stage to have a product still under development, incipient revenue, and a thesis based on future growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Those who enter too early may capture larger multiples, but they also assume a high level of risk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Venture capital<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>venture capital<\/strong> Invests in startups with some level of validation, traction, and scalability potential. Here, the analysis tends to be more structured, looking at indicators, market, team, and governance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To better understand the stages, it&#039;s worth reading about... <a href=\"https:\/\/blog.eqseed.com\/early-stage-como-funciona-em-startups\/\">early stage in startups<\/a> and about <a href=\"https:\/\/blog.eqseed.com\/conheca-as-oportunidades-de-investimento-nas-series-a-b-e-c-de-financiamento\/\">Series A, B and C<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Private equity<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>private equity<\/strong> It typically targets more mature companies with more robust operations and a longer-term horizon. According to... <a href=\"https:\/\/sebrae.com.br\/sites\/PortalSebrae\/5-modalidades-de-investimentos-para-startups,852aa282ab257810VgnVCM1000001b00320aRCRD\">Sebrae<\/a>, This type of investment can have a horizon of about 10 years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is less common for small investors to enter this format directly, but it is important to understand the difference in stages.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Equity crowdfunding<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>equity crowdfunding<\/strong> It is one of the main gateways for investing in startups in Brazil. On this platform, an offer is made available online, including documentation, fundraising target, timeframe, and investment rules.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you want to delve deeper, check out this guide on... <a href=\"https:\/\/blog.eqseed.com\/equity-crowdfunding-o-que-e\/\">equity crowdfunding<\/a> and the explanation of <a href=\"https:\/\/blog.eqseed.com\/resolucao-cvm-88\/\">CVM Resolution 88<\/a>, which helped structure this market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Pools, syndicates and investment platforms<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Another option is to invest through syndicates, pools, or groups led by experienced investors. This can lower the barrier to entry and improve curation, although the investor needs to understand fees, governance, and rights.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When analyzing a platform for investing in startups, consider the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>quality of curation;<\/li>\n\n\n\n<li>transparency of documents;<\/li>\n\n\n\n<li>Offer history;<\/li>\n\n\n\n<li>Post-investment follow-up;<\/li>\n\n\n\n<li>The existence of a secondary market;<\/li>\n\n\n\n<li>legal structure of the investment.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Secondary market and sale of stake<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A common objection to investing in startups is low liquidity. Even so, some platforms have already developed secondary market alternatives. <a href=\"https:\/\/captable.com.br\/\">Captable<\/a> It is an example cited in the market for working on this front.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This doesn&#039;t transform the asset into something liquid like a listed stock, but it can create exit windows before the final exit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to invest in startups in practice.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 1: Define objectives and portfolio percentage.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Before investing in a startup, define what role this asset class will play in your portfolio. For beginners, it makes sense to start small and treat this capital as high-risk, long-term.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A conservative approach is to allocate only a fraction of one&#039;s assets to alternative investments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 2: Choose the thesis and stage of the startup.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can create a thesis based on sector, geography, founder profile, or stage. For example: early-stage healthtech, B2B SaaS with recurring revenue, climate tech with a regulated market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without a clear strategy, investors tend to choose based on excitement, not method.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 3: Analyze the offer and the documents.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Read the complete funding round materials. Check the valuation, offered stake, use of funds, highlighted risks, investor rights, and fundraising goals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In <a href=\"https:\/\/captable.com.br\/\">Captable<\/a>, For example, the platform indicates that fundraising is considered successful starting from <a href=\"https:\/\/captable.com.br\/\">66.6% of the target<\/a>. This type of detail alters the risk of the operation and needs to be understood.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 4: Understanding the legal framework of the contribution.<\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Convertible loan<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Node <strong>convertible loan<\/strong>, In this case, the investment begins as debt and can be converted into equity under predefined conditions. This is common in initial funding rounds.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Convertible note<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>convertible note<\/strong> It follows a similar logic, with conversion rules linked to future events. The investor needs to observe triggers, discounts, valuation cap, and timeframe.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Share issuance promise agreement<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">In this model, there is a contractual provision for the future issuance of shares or quotas. It is essential to understand when the conversion takes place and what rights exist until then.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Step 5: Invest and monitor progress.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">After the investment, the work doesn&#039;t end. The investor must monitor reports, operational progress, new funding rounds, and potential strategy changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">More structured platforms typically offer regular communication. EqSeed highlights post-investment support and reporting as part of the thesis experience.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to evaluate a startup before investing.<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market, problem and solution<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Does the startup solve a real and frequent problem? Is the market large enough to justify scalable growth? A good startup can fail if it targets a market that is too small.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Founding team<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In startups, the team is crucial. Look for complementary founders with execution capabilities, industry knowledge, and a track record of adaptability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An interesting fact is that, among the fastest-growing early-stage startups analyzed by Bossa, <a href=\"https:\/\/bossainvest.com\/report-startups-early-stage-que-mais-crescem\/\">71,4% doubled their revenue and 76,4% had more than 20 employees.<\/a>. This suggests that execution and structure matter more than narrative.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Traction and validation<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Traction isn&#039;t just about revenue. It can include user growth, retention, contracts, recurring revenue, average order value expansion, and sales efficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Always ask: has the startup proven that anyone is willing to pay for the solution?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Business model and scalability<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investable businesses tend to combine margin, repeatability, and expansion potential. A startup may be promising, but not necessarily scalable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Unit economics and indicators<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Here&#039;s a handy checklist:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>CAC<\/strong>How much does it cost to acquire a customer?<\/li>\n\n\n\n<li><strong>LTV<\/strong>How much does this client generate over time?<\/li>\n\n\n\n<li><strong>Churn<\/strong>Customer churn rate or revenue<\/li>\n\n\n\n<li><strong>Burn rate<\/strong>How much does the startup burn per month?<\/li>\n\n\n\n<li><strong>Runway<\/strong>For how many months does the cash last?<\/li>\n\n\n\n<li><strong>Gross margin<\/strong>How much is left after direct costs?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If the CAC (Customer Acquisition Cost) is high, churn is high, and the runway is short, the risk increases significantly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Valuation and offered participation<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">THE <strong>startup valuation<\/strong> It needs to make sense given the stage and traction. An overvalued valuation reduces the potential return and increases the risk of future funding rounds going down.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you want to understand the topic better, check out this content about it. <a href=\"https:\/\/blog.eqseed.com\/calcular-valuation-atrair-investidores\/\">how to calculate valuation<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Simple example:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Scenario<\/strong><\/td><td><strong>Pre-money valuation<\/strong><\/td><td><strong>Contribution<\/strong><\/td><td><strong>Approximate participation<\/strong><\/td><\/tr><tr><td>Startup A<\/td><td>R$ 8 mi<\/td><td>R$ 800 thousand<\/td><td>9,1%<\/td><\/tr><tr><td>Startup B<\/td><td>R$ 20 mi<\/td><td>R$ 800 thousand<\/td><td>3,8%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">If both have similar traction, Startup A may offer a better risk-return ratio.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Governance, compliance and legal risks<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Poor governance destroys value. Review shareholder agreements, information rights, first refusal rights, rules for new funding rounds, cap table structure, and minimum compliance requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Common red flags:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Confusing cap table;<\/li>\n\n\n\n<li>excessive reliance on a single founder;<\/li>\n\n\n\n<li>unverified numbers;<\/li>\n\n\n\n<li>unrealistic projections;<\/li>\n\n\n\n<li>hidden legal liabilities;<\/li>\n\n\n\n<li>Lack of clarity regarding instrument conversion.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>At what stage of the startup should one invest?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Ideation and validation<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Higher risk, lower predictability, potential for higher multiples. Recommended for those who can tolerate significant losses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Early stage<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This is the phase in which the product and the market begin to align. It&#039;s one of the most sought-after stages by individual investors using these platforms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Traction and scale<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Here, the startup is already showing more consistent growth. The risk remains high, but the analysis is based more on real data.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Series A, B and C<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Later funding rounds tend to involve larger transactions, more sophisticated investors, and more robust metrics. They also usually involve higher valuations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>More mature companies and private equity.<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When a company already has significant governance and scale, the capital profile changes. The percentage upside may decrease, but relative predictability increases.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the risks of investing in startups?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Risk of total loss<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">That&#039;s the main risk. When investing in startups, you need to accept that some of your investments could amount to nothing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Low liquidity<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You could go years without being able to sell your stake. Even with a secondary market, liquidity is not guaranteed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Dilution in future rounds<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If the startup raises capital again and you don&#039;t participate, your percentage ownership could decrease. For example, if you own 2% and a new funding round issues more shares, your stake could drop to 1.5% or less.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Execution and market risk<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A good idea can fail due to poor execution, competition, regulatory changes, or inadequate timing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Regulatory and corporate risk<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Poorly designed structures, unclear contracts, and weak governance can compromise investor returns and rights.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How investors make money with startups<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Exit by acquisition<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The most common scenario is for the startup to be acquired by another company. In this case, the investor receives payment according to their stake and the terms of the transaction.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Sale in future round<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In some cases, the investor is able to sell a stake to new investors in a subsequent funding round, especially if there is an increase in value.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>IPO<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It&#039;s the most well-known scenario, but not the most common. Furthermore, companies are taking longer to go public. In the US, the median age at IPO has reached... <a href=\"https:\/\/exame.com\/invest\/mercados\/nos-eua-ipos-estao-alta-mas-as-startups-estao-levando-mais-tempo-para-lancar-acoes-na-bolsa\/\">13 years in 2025, compared to 10 in 2018.<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Sale on the secondary market<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">When this possibility exists, the investor can anticipate liquidity. Even so, price and demand vary considerably.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How soon can the return happen?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The return is rarely quick. According to the <a href=\"https:\/\/abstartups.com.br\/quanto-um-investidor-ganha-com-uma-startup\/\">Abstartups<\/a>, The average time to exit is 6.8 years. Therefore, investing in startups requires patience.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How much to invest in a startup<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Most common minimum deposits on platforms<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ticket prices vary depending on the platform and the offer. <a href=\"https:\/\/captable.com.br\/\">Captable<\/a> indicates that the minimum contribution is generally between <strong>R$ 1.000 and R$ 3.000<\/strong>. At EqSeed, there are offers such as <a href=\"https:\/\/eqseed.com\/investir\/eduvem\">Eduvem<\/a> e <a href=\"https:\/\/eqseed.com\/investir\/moondo\">Moondo Biotech<\/a> with a minimum investment of <strong>R$ 5.000<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How to diversify to reduce risk<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of investing R$ 20,000 in a single startup, it might be better to distribute the investment across 4 to 10 opportunities over time. This doesn&#039;t eliminate risk, but it reduces dependence on a single success.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Portfolio strategy for beginners<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A simple strategy:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Start with small tickets;<\/li>\n\n\n\n<li>Invest in sectors that you understand;<\/li>\n\n\n\n<li>diversify by stage;<\/li>\n\n\n\n<li>avoid focusing on just one thesis;<\/li>\n\n\n\n<li>Reinvest in what you&#039;ve learned before increasing your exposure.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Investing in startups through platforms: how it works<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The role of CVM regulation<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Regulation helps to provide more predictability to the market, especially in public offerings via platforms. Therefore, understanding the <a href=\"https:\/\/blog.eqseed.com\/resolucao-cvm-88\/\">CVM 88<\/a> This is important for those who want to invest in startups with greater operational security.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What to analyze on a platform<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Compare:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>fundraising history;<\/li>\n\n\n\n<li>quality of the selection;<\/li>\n\n\n\n<li>clarity of the documents;<\/li>\n\n\n\n<li>Investor support;<\/li>\n\n\n\n<li>Transparency regarding risks;<\/li>\n\n\n\n<li>monitoring channels;<\/li>\n\n\n\n<li>liquidity options.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Curatorship, diligence and transparency<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Curation is a significant differentiator. EqSeed claims to approve. <a href=\"https:\/\/eqseed.com\/captar\">less than 1% of startups seeking funding<\/a>, This reinforces the idea of rigorous filtering. This doesn&#039;t guarantee success, but it improves the average standard of offers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Post-investment follow-up<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Post-investment monitoring is very important. Quarterly reports, fundraising updates, metrics, and governance help investors track the rationale behind the investment thesis over time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Income tax and final considerations for the investor.<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Those who decide to invest in startups also need to be organized from a tax and documentation standpoint. The method of declaration depends on the structure of the investment, such as direct equity participation, convertible contract, or intermediary vehicle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In practice, investors should keep contracts, transfer receipts, platform reports, and any conversion documents. Since structures vary, it&#039;s ideal to validate the correct classification with an accountant or tax specialist, especially when there are capital gains, sales on the secondary market, or conversion into equity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Frequently asked questions about investing in startups<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is investing in startups safe?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investing in startups can be done in a regulated environment with formal documentation, but this does not eliminate economic risk. Legal security and the chance of return are different things.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Can I lose more than I invested by investing in a startup?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In general, individual investors don&#039;t lose more than the amount invested, provided the investment structure is correctly limited to the invested capital. Even so, it&#039;s essential to understand the contract before investing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How to invest in a startup online?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Today, the simplest way is to use a platform to invest in startups, analyze the offers, digitally sign the documents, and transfer the investment amount. The process is usually 100% online.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How much do I need to invest in a startup?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It depends on the offer. On some platforms, the minimum may start between R$ 1,000 and R$ 3,000, while other offers require R$ 5,000 or more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>When do I become a partner in the startup?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This depends on the legal instrument used in the round. In some cases, participation is immediate; in others, such as in a convertible loan or convertible note, equity entry occurs after a conversion event.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is there liquidity before the exit?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sometimes, yes. Some platforms offer a secondary market or opportunities to sell in future rounds, but there is no guarantee of a buyer or an attractive price.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Is it worth investing in a startup even if you&#039;re a beginner?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It can be worthwhile, provided the exposure is small and the investor understands the risks. The most common mistake beginners make is investing out of excitement, without a thesis, without diversification, and without reading the documents.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is the difference between angel investor and venture capital?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Angel investors typically get involved earlier and more closely with the founders. Venture capital, on the other hand, enters with a more structured process, usually targeting startups with more validation and traction.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How do you evaluate a startup before investing?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Analyze the market, founding team, traction, business model, CAC, LTV, churn, burn rate, runway, valuation, and governance. If the startup cannot clearly explain these points, that&#039;s already a red flag.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>How do I declare my investment in a startup on my income tax return?<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The declaration depends on the legal structure of the investment and any conversion or sale events. Since the structures vary considerably, the most prudent approach is to use the transaction documentation and seek specialized accounting support.<\/p>","protected":false},"excerpt":{"rendered":"<p>Investir em startup \u00e9 uma forma de aplicar capital em empresas inovadoras com alto potencial de crescimento, geralmente em est\u00e1gios iniciais ou de expans\u00e3o. Na pr\u00e1tica, o investidor aceita mais risco e menos liquidez em troca da possibilidade de capturar retornos muito acima da m\u00e9dia, especialmente se houver um exit futuro, como aquisi\u00e7\u00e3o, nova rodada [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"Investir em startup: como funciona, riscos, retorno e como come\u00e7ar do jeito certo","_seopress_titles_desc":"Entenda como investir em startup: riscos, retorno, formas de aporte, como avaliar empresas e quais cuidados tomar antes de aplicar seu capital.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[1],"tags":[],"area-de-membros":[],"destaque":[],"class_list":["post-6745","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/comments?post=6745"}],"version-history":[{"count":1,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6745\/revisions"}],"predecessor-version":[{"id":6747,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/posts\/6745\/revisions\/6747"}],"wp:attachment":[{"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/media?parent=6745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/categories?post=6745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/tags?post=6745"},{"taxonomy":"area-de-membros","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/area-de-membros?post=6745"},{"taxonomy":"destaque","embeddable":true,"href":"https:\/\/abvcap.com.br\/en\/wp-json\/wp\/v2\/destaque?post=6745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}