# FHE Ventures

FHE Ventures is a Venture Capital based in Belo Horizonte, Brazil.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Belo Horizonte, Brazil
- **Region:** Latin America
- **Address:** Belo Horizonte, MG, Brazil
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** felumaventures.com.br
- **LinkedIn:** https://www.linkedin.com/company/fhe-ventures

## Regulatory record

- **Reports private funds:** No

## About

FHE Ventures is a venture studio based in Portugal. It specializes in accelerating and developing startups in health and education. The company provides services such as marketing, sales development, product validation, and investment assistance.

## Sectors

- Digital Health
- Enterprise Software
- AI/ML
- Healthcare Services
- FinTech
- AgriTech & FoodTech
- ClimateTech

## People

- Rafael Kenji Hamada — Founder & CEO

## Questions

### Who runs investment decisions at FHE Ventures?

Rafael Kenji Hamada serves as CEO and Founder, governing both FHE Ventures and the parent foundation, Fundação Educacional Lucas Machado (FELUMA). Investment decisions are made within an operator-led structure that integrates deal sourcing from HealthAngels, the affiliated venture builder, and the leadership of the FCMMG medical school and teaching hospital. No external investment committee is separately named in public records.

### How does FHE Ventures source proprietary deal flow?

Deal flow originates primarily through the FCMMG teaching hospital campus and the Órbi Conecta innovation hub in Belo Horizonte, where the firm co-hosts Investor Day events with Bossanova Investimentos. The hospital provides a clinical operating environment where early-stage healthtech companies can pilot products with real patient populations, giving FHE Ventures a sourcing channel distinct from competitive auction processes. International sourcing runs through the Healthcare Alliance partner network.

### Does FHE Ventures participate in fund commitments or only direct deals?

FHE Ventures primarily executes direct equity investments and venture builder launches, rather than committing Limited Partner capital to third-party funds. The firm co-invests directly alongside Bossanova Investimentos and Saúde Ventures on deal-by-deal bases, and the HealthAngels venture builder creates additional vehicles for specific incubated startups. Public records do not indicate participation in fund-of-funds programs.

### Which sectors does FHE Ventures explicitly target?

Healthtech and digital health form the core thesis, reflecting the hospital and medical school operating base. Beyond healthcare, the firm also evaluates enterprise software, agritech, fintech, and climate-tech startups that can connect to Brazilian market infrastructure. Sector coverage is generalist within Latin America, with no published sector exclusions.

## Related profiles

- [F&G Venture](https://altss.com/profile/f-g-venture)
- [F&H International](https://altss.com/profile/f-h-international)

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Last updated: 2026-06-03T20:00:00.000Z

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