About VOX Capital
VOX Capital is a venture capital firm founded in 2009. It is primarily based out of Sao Paulo, Brazil. As of Mar 2026, VOX Capital is an active investor, having invested in 37 companies, with 3 new investments in the last 12 months. It primarily invests in Seed round in Brazil based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to HealthTech and Energy Tech. Most recently it participated in the $***** Seed round of Delfos Overall, VOX Capital portfolio has seen 2 acquisitions, namely Grão and Intuitive Care. A lot of funds co-invest with VOX Capital, with names like Endeavor sharing a substantial percentage of its portfolio. VOX Capital has team of 16 people including 5 partners.Key Metrics
VOX Capital's List of Top Investments
VOX Capital has a portfolio of 37 companies. Their most notable investments are in NG.CASH and Fu2re.Their portfolio spans across Brazil, France, Spain and 1 more locations. They have invested in Enterprise Applications, HealthTech, Energy Tech and 16 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by VOX Capital:
1. NG.CASH
Provider of digital accounts, prepaid cards, and payment processing services. The company offers digital accounts with options for customization. It facilitates money transfers and payments through its platform. The company also provides prepaid cards for online and physical purchases. It acts as a payment institution authorized by the central bank. The company partners with banking institutions to offer financial products.
Key facts about NG.CASH
- Founded Year: 2021
- Location: Rio de Janeiro (Brazil)
- Stage: Series B
- Total Funding till date: $50M
- Employee Count: 240 as on May 31, 2026
- Investors: Andreessen Horowitz, New Enterprise Associates and 11 Others
- Latest Funding Round: Series B, Jul 14, 2025, $*****
- Highlight: Editors' Pick
2. Celcoin
Bill payment platform for businesses. Provides solutions for companies to settle bills, join open banking, have own credit infrastructure, access the DDA, have recurring billing, offer top ups with any operator, recharge, games, movies and music, sell bus tickets, prepaid and postpaid bill payments, payment for water, electricity, and gas bills.
Key facts about Celcoin
- Founded Year: 2016
- Location: Barueri (Brazil)
- Stage: Series C
- Total Funding till date: $154M
- Employee Count: 422 as on May 31, 2026
- Investors: Summit Partners, Inclusive Fintech 50 and 8 Others
- Latest Funding Round: Series C, Jun 12, 2024, $*****
- Highlight: Editors' Pick
3. Delfos
Software technology for monitoring renewable energy products. It is a software technology company that specializes in providing AI based monitoring solutions for solar, wind, and hydro power plants. The software enables smart and predictable renewable energy production by predicting failures and optimizing performance.
Key facts about Delfos
- Founded Year: 2016
- Location: Barcelona (Spain)
- Stage: Seed
- Total Funding till date: $11.7M
- Employee Count: 127 as on May 31, 2026
- Investors: Contrarian Ventures, VOX Capital and 7 Others
- Latest Funding Round: Seed, Mar 12, 2026, $*****
4. Grão
Online platform for investments and savings. It allows users to set aside small deposits as savings, develop financial goals, and make investments in securities & government bonds. Also, offers alerts, notifications & reminders to users to make recurring deposits in accounts.
Key facts about Grão
- Founded Year: 2004
- Location: Sao Paulo (Brazil)
- Stage: Acquired
- Total Funding till date: $526K
- Employee Count: 362 as on May 31, 2026
- Investors: VOX Capital, Astella and 2 Others
- Latest Funding Round: Seed, Jan 17, 2020, $*****
- Highlight: Acquired
VOX Capital's Year-on-Year Investment Trends
VOX Capital has invested in 37 companies over the last 13 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 3 investments, while as of Mar 2026, it has made 1 investment in this year. Its most recent first time investment was in Delfos and most recent follow-on round was in Celcoin.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 3 | 0 | 3 |
2024 | 1 | 0 | 1 |
2023 | 1 | 0 | 1 |
2022 | 6 | 0 | 6 |
2021 | 1 | 1 | 2 |
2020 | 1 | 0 | 1 |
2019 | 2 | 0 | 2 |
2018 | 2 | 0 | 2 |
2017 | 1 | 0 | 1 |
VOX Capital's Investments by Stage
VOX Capital has made 13 investments in Seed stage with an average round size of $1.64M, 6 investments in Series A stage with an average round size of $8.32M, 1 investment in Series B stage with an average round size of $27M and 1 investment in Series D stage with an average round size of $530M.Stage of entry | No. of Investments |
|---|---|
Seed | 13 |
Series A | 6 |
Series B | 1 |
Series D | 1 |
Note: We have considered here, only first round of investments
VOX Capital's Investments by Sector
VOX Capital has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, HealthTech, Sustainability Tech and Consumer. Notably, it has invested in 26 Tech companies, 19 Enterprise (B2B) companies, 13 Software companies and at least 11 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 6 |
FinTech | 4 |
HealthTech | 3 |
Sustainability Tech | 3 |
Consumer | 2 |
Others | 20 |
Note: We have considered here, only first round of investments
VOX Capital's Investments by Geography
VOX Capital has made most investments in Brazil (18), followed by France where it has made 2 investments.Country | No. of Investments |
|---|---|
Brazil | 18 |
France | 2 |
Spain | 1 |
Note: We have considered here, only first round of investments
VOX Capital's recent investments
VOX Capital has made 1 investments in 2026 so far - Delfos.Here are the most recent investments by VOX Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 12, 2026 | Spain | Seed | 5057 | [+3] | |
Jul 25, 2025 | Brazil | Seed | 9755 | [+1] | |
Jul 14, 2025 | Brazil | Series B | 7152 | ||
Feb 06, 2025 | France | Seed | 8486 | [+4] | |
Mar 06, 2024 | Brazil | Series A | 3723 | [+3] |
Acquired companies in VOX Capital's Portfolio
2 companies from VOX Capital's portfolio have been acquired. The most recent acquisition was Intuitive Care in May 2025 by Arcadea Group for $*****.Here are VOX Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 28, 2025 | - | - | 9323 | |
Mar 10, 2022 | Jan 17, 2020 | Seed | 6843 |
Team profile of VOX Capital
VOX Capital has a team of 16 members including 5 Partners and 3 Principals located in Brazil. VOX Capital's team does not sit on the board of any company as of now.Here is a list of top team members in VOX Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Sao Paulo | - | ||
Partner | Sao Paulo | - | ||
Partner | Sao Paulo | - | - | |
Partner | Sao Paulo | - | ||
Partner | Brazil | - | ||
Principal | Sao Paulo | - | - | |
Principal | Salvador | - | - | |
Principal | Brazil | - |
Co-investors of VOX Capital
Over the past 13 years, 59 investors have co-invested in VOX Capital's portfolio companies. This includes funds and angels.
- Invested before VOX Capital: Andreessen Horowitz, Monashees and 17 others have invested in rounds before VOX Capital. There is 1 company where Andreessen Horowitz has invested before VOX Capital and 1 company where Monashees has invested before VOX Capital.
- Top Co-investors of VOX Capital: 34 investors entered a company along with VOX Capital. These include investors like Endeavor (2 companies).
- Invested after VOX Capital: A total of 6 investors have invested in VOX Capital's portfolio after their investments. Top Investors include Summit Partners (1 company), Innova Capital (1 company) and Sinqia (1 company).
Recent News related to VOX Capital
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Delfos Energy Raises €3M To Expand AI “Virtual Engineer” For Energy InfrastructureStartup Rise EU•Mar 13, 2026•Delfos, DOMO, EDP, Headline and 5 others
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Fu2re raises R$ 12.5 million - Baguete IABaguete•Jul 25, 2025•Indicator Capital, Copel, Fu2re, VOX Capital
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NG.Cash secures $27M to enhance AI credit servicesLatamList•Jul 17, 2025•NG.CASH, L4 Venture Builder, VOX Capital, Monashees
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Medical education platform Sanar seeks over R$200 million in roundNeofeed•Mar 25, 2025•Editora Sanar, DNA Capital, Valor Capital Group, VOX Capital and 4 others
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Franklin Baker seeks loan restructuringINQUIRER.net•Feb 25, 2025•Franklin Baker, BPI, BDO Unibank, Land Bank of the Philippines and 7 others
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Fraktion Gets More Traction, Securing $1.1M In Funding To Accelerate Tokenized InvestingBitcoin Ethereum News•Feb 08, 2025•Cabrit capital, Tezos Foundation, VOX Capital, Kapi Kapi and 1 other
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Nextron raises $5.2M in a Series A roundLatamList•Mar 09, 2024•Nextron Energias, VOX Capital, Copel, Endeavor Brasil and 3 others
