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Brazilian startups are closing millions in Silicon Valley

Brazilian entrepreneurs and venture capital (VC) firms in Silicon Valley are looking to play an important role in strengthening the startup scene. This organization recently arranged a survey that found that 11 startups with Brazilian founders operating in Silicon Valley have raised funding for at least US$2 million. Thus, if these companies got magnitudes more funding elsewhere (US$850 million) than they did in Silicon Valley (just US$2 million), the questions come to mind:Are the bragging rights to being set up/funded by Silicon Valley worth the investment of the move? However, I am driven to wonder, to what extent is moving/being funded by Silicon Valley a purely performative activity? In Indicator’s case, it did so in 2018 with the goal of acting as a link between Silicon Valley tech and practices with Brazilian markets.

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