What stage does Positive Ventures invest at?

Positive Ventures invests at the Pre-Seed, Seed, Series A stages.

Where is Positive Ventures located?

Positive Ventures is headquartered in São Paulo, BR.

Positive Ventures

Impact investor

São Paulo · Pre-Seed–Series A · 12 people tracked

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Investment thesis

Positive Ventures is a pure-play impact-driven investor that backs bold, contrarian, mission-driven founders building technology to solve major social and environmental problems. The firm invests early and describes itself as sector-agnostic, seeking ventures that deliver both large-scale impact and strong financial returns. It views investing for nature and people as strategic business rather than philanthropy. With roots in São Paulo and a presence in San Francisco, the firm aims to bridge the Global South and North, unlocking cross-border opportunities for scalable, transformative solutions.

Invests inClimate Tech EdTech Energy Fintech Healthtech Impact & Social Good SaaSSector AgnosticBrazil Chile Latin America North America São Paulo United States

Source: firm website, verified Aug 7, 2026.

Stage

Pre-Seed–Series A

São Paulo, São Paulo, BR

Instruments

Equity

Founded

2016

Team · 12 people

from the firm's website & curated & public directories

Fábio Kestenbaum· Managing Partner and Investments· São Paulo, São Paulo, Brazilin 𝕏

Co-founder of Positive Ventures and Chairman of its Investment Committee. Previously worked on the M&A team at BMA Advogados as buy-side legal counsel on major mergers, and now serves on the boards of Eureciclo and Labi Exames and as an advisor to several organizations. Holds a J.D. and a postgraduate diploma in Economic Development from the Blavatnik School of Government.

f•••@positive.venturesreveal

Murilo Menezes· Managing Partner and Investments· São Pauloin

Managing Partner and CIO at Positive Ventures, focused on purpose-driven businesses addressing societal challenges. Previously Chief of Staff and Impact Investing Officer at Brazilian single-family office Maraé, and worked at Goldman Sachs and Itaú BBA; board member at Slang and part of WEF's Expert Network.

m•••@positive.venturesreveal

Alex Seibel· Partner· Sao Paulo, Brazilin

Alex Seibel is CEO of HS Investimentos, a family office that manages assets including Dexco, a major building materials producer, and Leo Madeiras, Brazil's largest retail company for furniture components. His career includes founding Positiv.a, a B Corp focused on sustainable circular home and personal care products, and co-founding Apolo Energy, which operates as a leading distributed solar generation company in Brazil. Seibel is also a partner at Positive Ventures, a venture capital firm investing in entrepreneurs with social and environmental impact objectives.

Bruna Constantino· Partner· Sao Paulo, Brazilin

Bruna Constantino is a co-founder of Positive Ventures, an early-stage impact investing firm with offices in São Paulo and San Francisco that focuses on social and environmental challenges. She holds a background in social communication and film and leads portfolio management, community building, value creation, and ESG strategy at the firm. Constantino is a member of Global Women in VC.

Ricardo Castro· Partner· São Paulo, São Paulo, Brazilin

An economist from FEA-USP with extensive financial markets experience. He is a Managing Director at CPP Investments and a board member of Smart Fit and D1, having previously worked at Lone Star Funds, TPG Capital, and J.P. Morgan.

r•••@positive.venturesreveal

Lars· Partnerin

Listed as the contact for investment inquiries; only a first name appears in the email address.

l•••@damgaard.comreveal

Marina Ferraz· Investments· São Paulo, Brazilin

Matias Barbará· Communicationin

Andrea Kestenbaum· Investor· Sao Paulo, Brazilin

Co-Founder, CEO, and Investment Committee member at Positive Ventures with a background as both investor and executive across services, retail, and international trade. She serves on various boards and holds a Master's in Economics and Sustainable Development from UPC, with executive education from MIT Sloan and Stanford.

a•••@positive.venturesreveal

Gustavo Behring· Analyst· Sao Paulo, Brazilin

Associate Partner on the investment team at Positive Ventures, focused on sourcing and analyzing companies in the firm's pipeline and contributing to portfolio and fund management. Holds a Business Administration degree from FGV.

g•••@positive.venturesreveal

Leila Orenstein· Investment Committee· Rio de Janeiroin 𝕏

A partner at Gera since 2012 and member of its founding team, she previously worked at Gávea Investimentos and consulted for Brilliant in Silicon Valley. She holds an Economics degree from PUC-Rio and attended Harvard Business School's PLD program.

l•••@geracapital.comreveal

Małgorzata Szcześniak· Head of Marketing Communications· Warsaw, Mazowieckie, Polandin

Frequently asked questions

What stage does Positive Ventures invest at?: Positive Ventures invests at the Pre-Seed, Seed, Series A stages.
What sectors does Positive Ventures focus on?: Positive Ventures focuses on Climate Tech, EdTech, Energy, Fintech, Healthtech, Impact & Social Good, SaaS, Sector Agnostic.
Where is Positive Ventures located?: Positive Ventures is headquartered in São Paulo, BR.

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