The venture capital pitch in São Paulo is often a story of FOMO and hype. Airborne Ventures is betting the opposite sells. The early-stage fund, founded in 2021, positions itself as a “no-FOMO, no-hype” investor for Brazil and Latin America, focusing on concentrated portfolios and hands-on support in B2B fintech and healthcare [Airborne Ventures, 2024]. It is a deliberate counter-narrative in a region where capital has historically chased consumer trends.
Its founding partner, Eduardo Küpper, brings the institutional heft. He was previously Head of VC at Bradesco’s venture arm, where he was responsible for two funds totaling R$800 million in invested capital and R$1.7 billion in assets under management [Crunchbase, 2026]. That background, overseeing 50+ deals across stages, provides the operational thesis: Airborne aims to be an active partner, or “partners activos,” channeling resources and expertise to help founders scale faster and avoid post-funding crashes [Airborne Ventures, 2024].
The Institutional Wedge
Airborne’s differentiation rests on a blend of institutional process and founder-centric advocacy. The firm explicitly targets early-stage B2B companies with a live product and revenue, avoiding pre-revenue concept bets [Airborne Ventures, 2024]. Its stated goal is to prepare companies to “go Airborne” stabilized, a metaphor for avoiding the chaotic, cash-burn-heavy scaling that plagues many venture-backed startups.
The team structure supports this. Beyond Küpper, the firm lists João Marcos Vilela Marcuz as a Venture Partner and Francesco Bloise as a Managing Partner, suggesting a lean, partner-driven model focused on deep engagement rather than a sprawling platform [Airborne Ventures, 2024] [ZoomInfo, 2026]. This concentrated approach is central to their “no-FOMO” branding, implying a selectivity that larger, spray-and-pray funds cannot afford.
Tracking the Track Record
Performance claims are the currency of any new fund, and Airborne’s are specific, if self-reported. The firm states its latest fund has achieved a 1.9x multiple on invested capital (MOIC) and claims over $1 billion in follow-on funding secured by its portfolio companies [Airborne Ventures, 2024]. Küpper’s personal LinkedIn headline cites a track record of “$200M+ exits” and “9.5x+ MOIC” [LinkedIn, 2026].
These metrics, while not independently verified, are pointed. They are designed to signal to both limited partners and founders that the firm’s disciplined approach can generate competitive returns without chasing the latest trend. The firm also claims experience across 70+ investments and leadership in 30+ seed and Series A/B rounds, leveraging a network that includes “major financial investors and hundreds of successful founders” [Airborne Ventures, 2024].
| Role | Name | Key Background |
|---|---|---|
| Founding Partner, GP | Eduardo Küpper | Former Head of VC at Bradesco Venture Capital; oversaw R$1.7B AUM [Crunchbase, 2026]. |
| Venture Partner | João Marcos Vilela Marcuz | Co-founder of Airborne Ventures [Crunchbase, 2024]. |
| Managing Partner | Francesco Bloise | Listed as Investment Officer and Managing Partner [Airborne Ventures, 2024]. |
The LatAm Fintech and Healthtech Play
The fund’s sector focus is a calculated double bet. Fintech remains the engine of LatAm venture, but Airborne is targeting the B2B infrastructure layer,payments, SaaS, and financial productivity tools,that supports the ecosystem’s next phase [Crunchbase, 2026]. Concurrently, healthcare and healthtech represent a massive, under-digitized market in the region, ripe for efficiency-focused solutions.
This dual focus allows the fund to diversify its sector risk while staying within its core competency of B2B software. It is a thesis built on Küpper’s prior experience, where his work at Bradesco involved significant investments in financial services and SaaS [The Org, 2026]. The geographic mandate is firmly Brazil-first, expanding to Spanish-speaking Latin America, a corridor where Brazilian funds can sometimes have an advantage in depth over international competitors.
The Transparency Question
For any emerging fund, the gap between claimed metrics and public verification is a natural point of scrutiny. Airborne’s website and public materials do not disclose fund sizes, specific portfolio companies, or named limited partners [Airborne Ventures, 2024]. This opacity is common for early-stage venture funds protecting founder relationships and LP privacy, but it leaves the firm’s scale and current deployment pace as open questions.
The competitive landscape is another factor. São Paulo’s venture scene is crowded with both local specialists and global funds opening LatAm offices. Airborne’s answer appears to be its concentrated, hands-on model and its founders’ deep regional networks. The firm also publicly supports the Mensarius Oath, a pledge for ethical investing, which serves as a softer signal of its cultural positioning [LinkedIn, 2026].
The fund’s next twelve months will likely hinge on a few visible signals: a named portfolio company exit, a disclosed fund size for a successor vehicle, or a flagship investment in a recognizable LatAm B2B brand. For now, the bet is clear: disciplined capital and operational support can find outliers in fintech and healthtech without the hype. The 1.9x MOIC claim on its latest fund, alongside Küpper’s prior institutional track record at Bradesco, forms the cornerstone of that argument. The question for founders is whether that specific blend of experience and anti-FOMO philosophy is the right co-pilot for their takeoff.
Sources
- [Airborne Ventures, 2024] About, Network, Team, Portfolio, and FAQ pages | https://www.airborne.ventures/
- [Crunchbase, 2026] Eduardo Kupper Profile and Airborne Ventures News & Analysis | https://www.crunchbase.com/person/eduardo-gomes-kupper
- [LinkedIn, 2026] Eduardo Küpper Profile | https://www.linkedin.com/in/eduardokupper
- [The Org, 2026] Eduardo Küpper Background | https://theorg.com
- [ZoomInfo, 2026] João Marcos Vilela Marcuz Profile | https://www.zoominfo.com