Positive Ventures is an entrepreneurs-run and B-Certified VC backing tech founders tackling pressing societal challenges, global south first
Key people at Positive Ventures.
Key people at Positive Ventures.
# Positive Ventures: Impact-Driven Venture Capital with a Global South Focus
Positive Ventures is an entrepreneurs-run, B-Corp certified venture capital firm that backs early-stage technology founders tackling pressing societal and environmental challenges, with a strategic focus on the Global South. The firm’s mission is to invest in entrepreneurs who are “fixing the world at scale” while generating strong financial returns for its investors. Its investment philosophy centers on backing mission-driven founders building scalable, tech-enabled solutions in climate, education, healthcare, and financial inclusion—especially for underserved communities.
Positive Ventures operates across Latin America and the United States, leveraging its dual presence in São Paulo and San Francisco to bridge the Global South and North. It has become one of the most active impact investors in Latin America, supporting startups that address the UN Sustainable Development Goals (SDGs) and are committed to measurable, positive impact as a core business function. The firm’s portfolio has catalyzed over $1 billion in market value and impacted hundreds of thousands of lives, helping to shape a more inclusive and sustainable startup ecosystem.
Founded in late 2016 in stealth mode, Positive Ventures was established by a team of entrepreneurs and operators with deep roots in both Latin America and Silicon Valley. The firm was Brazil’s first venture capital general partner (GP) to be incorporated as a B-Corp, reflecting its commitment to impact from day one. Key partners include Andrea Kestenbaum (CEO and Co-Founder) and Fábio Kestenbaum (Chairman and Founding Partner), both of whom have backgrounds in entrepreneurship and impact investing.
Over the years, Positive Ventures has evolved from a local Brazilian fund into a cross-border impact investor, launching its first international vehicle in early 2020. The firm’s early investments in companies like Pachama (carbon credits), Favo (social commerce), and Eureciclo (recycling tech) helped establish its reputation as a pioneer in impact-driven venture capital. Its coalition of investors includes institutional players, family offices, and sustainability leaders such as Fabio Barbosa, CEO of Natura & Co.
Positive Ventures is riding the global trend of impact investing, where financial returns are increasingly measured alongside social and environmental outcomes. The firm is well-positioned to capitalize on the growing demand for scalable solutions to climate change, inequality, and access to essential services in emerging markets. Its cross-border model allows it to bring global best practices and networks to Latin American founders, while also introducing innovative Global South solutions to international markets.
The timing is critical: as climate urgency and social inequality intensify, investors and entrepreneurs are seeking new models that blend profit with purpose. Positive Ventures is helping to redefine venture capital as a force for systemic change, influencing how capital flows to underrepresented regions and founders. Its success is inspiring a new generation of impact investors and startups to prioritize both impact and scalability.
Positive Ventures is poised to continue shaping the future of impact-driven venture capital, with its latest fund tripling its assets under management and expanding its reach across Latin America and beyond. The firm’s focus on the Global South, combined with its rigorous impact standards and active support for founders, positions it as a leader in the next wave of sustainable innovation.
Looking ahead, Positive Ventures will likely deepen its investments in climate tech, digital health, and financial inclusion, while further amplifying the voices of underrepresented founders. As the world grapples with complex challenges, the firm’s model—backing bold, mission-driven entrepreneurs to fix the world at scale—will become increasingly relevant. Positive Ventures is not just investing in startups; it’s investing in a more equitable and sustainable future.
