1Mby1M Virtual Accelerator AI Investor Forum: Daniel Ibri, Mindset Ventures (Part 1)

Daniel Ibri is Co-founder and Managing Partner at Mindset Ventures. This is an excellent discussion about the changing dynamics of AI and venture capital.

Sramana Mitra: Today we are gonna start this session with a conversation with Daniel Ibri, co-founder and managing partner at Mindset Ventures from Brazil.
Daniel, welcome to the program.

Daniel Ibri: Thank you. Thank you for having me again. Pleasure to be here.

Sramana Mitra: So Daniel, we have talked before, and I know a little bit about your venture firm. Of course, we have a lot of different people here, new people, and it’s been a while since we last talked.
Give us a summary of your investment thesis, and in particular, we are gonna dive into what’s happening in Brazil. How is AI playing out in your corner of the universe?
So let’s get started with a bit of introduction.

Daniel Ibri: Okay, awesome. A bit about Mindset. We started about 10 years ago. The thesis has remained the same. I had my first fund years ago in Brazil and after that stint, I was managing a corporate fund backed by Microsoft, Qualcomm, and others.

Then we started Mindset 10 years ago, and we saw a big opportunity connecting Brazil and Latin America in general to foreign technology ecosystems.

Local investors here wanted access to opportunities and deals outside our region, but they had no access to deal flow because it’s competitive and hard to source potential investments.

Foreign companies wanting to expand to Brazil and Latin America saw the region as a huge potential market but also knew it was challenging if you don’t know the culture or speak the language.

Mindset comes from this idea of building something fully international and cross-border.
We still raise the majority of our capital in Brazil and Latin America—about 80% of our money today comes from this market—but we only invest offshore.

We invest only in the US and Israel, and we’ve done that from the beginning. We don’t invest locally here, which is unusual, but we only invest outside our region and then help these foreign startups expand here if and when it makes sense. It’s not a requirement for us to invest in a company, but it’s one of the values we bring.

That’s what we’ve been doing since the beginning in terms of geography and focus.
We invest in early-stage companies—usually around Series A, sometimes late seed, sometimes early Series B—when companies already have some traction, revenue, and clients.
We invest across the spectrum of B2B software. We don’t do hardware, biotech, or consumer, but within B2B software we’ve done a lot: fintech, cybersecurity, SaaS, AI, digital health, and others over the years.

We now have a team spread across three geographies: Israel, the US, and São Paulo.
We’ve raised four funds and manage around $120 million. We’ve invested in about 75 companies over almost 10 years. So that’s generally about Mindset. Before I touch on AI, any questions?

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

This segment is part 1 in the series : 1Mby1M Virtual Accelerator AI Investor Forum: Daniel Ibri, Mindset Ventures
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