Brazil (is not) for Beginners

In this special Season 3 recap of Brazil (is not) for Beginners, we look back on 19 episodes featuring founders, executives, investors, and creators working across Brazil’s most dynamic sectors. Through extended excerpts and fresh reflections, this recap highlights the themes that emerged most clearly in 2025: complexity, adaptability, creativity, and the deep importance of relationships.Across conversations about fraud prevention, beer innovation, agroforestry, search funds, insurance, pet care, governance, culture, entrepreneurship, and many more topics, a picture emerges of a country that is challenging, sometimes unpredictable, but endlessly rewarding for those who choose to build and work here.Guests this season showed how Brazilian business is shaped not just by regulation and bureaucracy, but by human behavior, local rhythms, community connections, and cultural fluency. This episode revisits some of the season’s most powerful moments, including reflections on trust, social mobility, uncertainty, innovation, purpose, and the small expressions that reveal how Brazilians think, act, and relate.From micro-entrepreneurs to CEOs, early-stage founders to corporate leaders, everyone faced the same reality: Brazil demands adaptability — but rewards those who commit.

In this episode of Brazil (is not) for Beginners, Isaac Matzner sits down with Lucas Lima, partner at LASP Capital and experienced angel investor, to explore the many facets of investing in new entrepreneurs in Brazil. Lucas explains how the early-stage investment process works, from identifying promising opportunities and evaluating potential businesses to understanding founder motivations and deciding when and how to get involved. The conversation also delves into Lucas’s own experience as an entrepreneur, including the story of his company, Men’s Market. He reflects on the lessons he learned from founding, running, and eventually selling the business, and how those experiences inform the way he supports and mentors the companies he invests in today.Other topics include:Identifying a market opportunities and understanding product market fit as well as capital dynamicsThe challenges and learnings that come with building a startupThe process of evaluating startups and spotting green and red flagsChallenges faced by new founders in BrazilBuilding trust and managing relationships between founders and investorsAdvice for new investors and mistakes to avoidUnderstanding the Brazilian startup ecosystemAnd lots more…

In this episode of Brazil (is not) for Beginners, Isaac Matzner hosts Alexandre D’Ambrosio, a lawyer and former executive at major corporations such as Votorantim, Santander and Vale. Together, they explore the nuances of corporate governance and the bicultural perspective of business that Alexandre brings from his years living and working in both the United States and Brazil. Throughout the conversation, Alexandre reflects on the processes of developing professionalization and strong corporate governance at large companies while navigating the cultural and structural realities of the Brazilian corporate environment. He and Isaac also discuss board relationships, change management and crisis management inside large organizations and what it takes to do business in Brazil (as a local and as a foreigner), offering an insider’s look at the challenges and opportunities of operating or working in Brazil.Other topics include:The process of privatizing Brazilian companiesThe important role of Boards in supporting strong corporate governanceLessons from the Vale tragedies in Brumadinho and MarianaShifting the company’s leadership perspectiveRebuilding stakeholder trust after company crisesAdapting to the Brazilian corporate styleBringing executives and employees together toward a common goalAnd lots more…

In this episode of Brazil (is not) for Beginners, Isaac Matzner hosts Gustavo Ruiz and Gustavo Zago, the co-founders of Caccao, an early-stage startup that combines AI with relationship intelligence to increase companies sales and growth. This is an open conversation with two entrepreneurs who are in the midst of their journey, who recently pivoted their thesis and who are searching to find product market fit. Gus and Zago pull back the veil what it is like to be an entrepreneur and to try to build something from zero. They talk about the risks and decisions that define the startup journey — from launching a product in uncertainty to recognizing when it’s time to pivot. Throughout the conversation, the duo delve into the initial challenges of finding product-market fit, making decisions and building a product and a company. They also reflect on the unique aspects of starting a business in Brazil, including the importance of personal connections and the collaborative nature of the local startup ecosystem.Other topics include:How to develop and build a strong company cultureThe importance of balanced leadershipHaving a team aligned with the company’s stage and goalsThe role of intuition in decision-makingNavigating uncertaintyIdentifying the right moment to pivot or change directionAnd lots more…

In this episode of Brazil Is Not for Beginners, host Isaac interviews Eduardo Zilberberg, the Z in BZCP, a leading local law firm focused on M&A advisory services, where he focuses on helping entrepreneurs navigate the country’s complex business landscape. Throughout the conversation, Eduardo shares practical lessons for entrepreneurs on fundraising, building trust with investors, and understanding the life cycle of a startup—from pre-seed to exit. He also reflects on the current state of the Brazilian startup ecosystem, comparing its maturity and unique challenges with global markets.Other key topics include:Brazil’s venture ecosystem and what makes the country both promising and challenging.How early-stage founders can navigate Brazil’s bureaucracy and make smarter fundraising decisions.Key differences between foreign and local investors — and how these perspectives shape startup growth.The stages of a founder’s journey, from first steps to scaling, and how strategic choices change over time.The importance he places on providing business and operational support and not just legal adviceAnd lots more…