Emerging private equity managers in Brazil
Emerging private equity funds in Brazil: first sale in 2021 or later and under $50 million raised, largest first.
Fund
First sale
Raised
Investors
Minimum
Offering
Lumina Strategic Solutions Fund III (A), LP
Sao Paulo, BrazilEmergingOffshore
First saleDec 2025
Raised$23.9M
Investors7
MinimumNone set
Offering506(b)
Lumina Strategic Solutions Fund III (C), LP
Sao Paulo, BrazilEmergingOffshore
First saleDec 2025
Raised$20.0M
Investors1
MinimumNone set
Offering506(b)
Lumina Strategic Solutions Fund III (A)-1, LP
Sao Paulo, BrazilEmergingOffshore
First saleDec 2025
Raised$12.0M
Investors2
MinimumNone set
Offering506(b)
Aquamarine II Feeder LP
Sao Paulo, BrazilEmergingOffshore
First saleAug 2024
Raised$5.9M
Investors2
Minimum$900K
Offering506(b)
Upload Global LLC, Series IOT
Sao Paulo, BrazilEmergingOffshore
First saleNov 2024
Raised$2.3M
Investors4
MinimumNone set
Offering506(b)
Lumina Strategic Solutions Fund III (C)-1, LP
Sao Paulo, BrazilEmergingOffshore
First saleDec 2025
Raised$1.0M
Investors1
MinimumNone set
Offering506(b)