FAMA Private Equity

Felipe Aguirre and Mariana Afonso, the founding partners, personally make every investment decision. Both have backgrounds deploying family capital before founding FAMA in 2019, and they maintain a flat structure where both partners are involved in sourcing, due diligence, and portfolio support.

While Brazil is FAMA's primary market, the firm selectively invests in other Latin American markets including Mexico and Colombia. The founding partners evaluate opportunities across the region but maintain a concentrated portfolio, with the majority of known positions in Brazilian companies.

FAMA relies heavily on the founders' personal networks in Brazil's technology and financial communities, built over a decade of investing their own capital before the firm's 2019 launch. The firm does not operate a proprietary sourcing platform; instead, Aguirre and Afonso cultivate relationships with founders, serial entrepreneurs, and local incubators.

FAMA has publicly avoided sectors with heavy regulatory exposure in Brazil, including energy and mining. The firm also stays away from hardware-intensive businesses and biotechnology, concentrating instead on capital-efficient software and technology-enabled services companies where the partners' operational experience applies directly.

The founders take board seats in most portfolio companies and provide operational support in go-to-market strategy, financial planning, and executive hiring. This level of engagement reflects the firm's roots in deploying personal capital, where the partners were accustomed to working directly with management teams rather than monitoring from a distance.