SaaSholic Research
Investment Thesis
SaaSholic is an early-stage venture capital firm dedicated to finding and scaling Latin America's best software (SaaS) companies. Founded in 2019 and based in São Paulo, Brazil, the firm's stated mission is to "Find Latam's Software winners early. Grow them faster." SaaSholic backs B2B software founders addressing large regional market needs, with an increasing emphasis (per Fund III) on companies that are AI-native, own proprietary data assets, touch payment flows, and benefit from network effects. Partners describe a preference for founders building "vertical models the company fully controls," using proprietary data with small language models rather than thin wrappers on general-purpose LLMs.
Stage Focus
SaaSholic invests at the earliest stages of a company's life, primarily Pre-Seed and Seed. The firm explicitly targets companies that already have a live MVP/product and are generating revenue from unaffiliated customers, rather than pure idea-stage bets. It has also participated in selective Pre-Series A rounds as a follow-on lead when portfolio companies (e.g., Jusfy) return to raise a larger round.
Check Size
Typical check size ranges from $500K to $1.5M per company at Pre-Seed/Seed, with flexibility to lead rounds. The firm runs a concentrated portfolio model, deploying roughly 15 new investments per fund so that each partner can sponsor and stay closely engaged with about five companies at a time.
Lead Tendency
SaaSholic frequently leads or co-leads its rounds. Confirmed examples include leading Liquid's $2.1M seed (August 2025), co-leading Jusfy's Pre-Series A alongside Maya Capital (March 2025), and backing hiSofi's $1M round alongside Uruguay's ANII (August 2026).
Recent Activity
The firm is currently deploying Fund III, having previously run at least two prior funds (Fund II reported 14 active portfolio companies, $33M in combined portfolio ARR, and 108% LTM portfolio growth at the time it was reported). Recent named investments:
- hiSofi (Uruguay, AI-powered debt collection) — $1M, August 2026, alongside Uruguay's ANII
- Liquid (Brazil, AI-driven real estate credit infrastructure) — $2.1M seed, led by SaaSholic, August 2025, with Flourish Ventures, Honey Island by 4UM, and Crivo Ventures
- Jusfy (Brazil, legal operations/lawtech) — undisclosed Pre-Series A, co-led with Maya Capital, March 2025, at a $30M valuation
Portfolio Highlights
SaaSholic has backed 40+ companies since inception across fintech, legal tech, martech, and vertical SaaS. Notable names include Sinky, HiSofi, Didit, a55, Bolt, Acquire.com, BossaBox, Maestro ABM, Peerdustry, Pingback, DocSales, Atlas Governance, Triple Session, B2B Stack, Deskfy, Jusfy, Worc, Cuenta Mono, Clicksign, Conta Simples, Lynk Capital Markets, Salvy, Curseduca, Beacon Founders, Clad, Liquid, and Yooga. Two portfolio companies are flagged as exits: Espresso and Magnetis.
Team
- Diego Gomes — Partner. Focuses on investment infrastructure/operations; helps early-stage CEOs scale to global success.
- Gustavo Souza — Partner. Specializes in scaling software sales teams and go-to-market strategy; supports portfolio companies on hiring and revenue acceleration.
- William Cordeiro — Partner. Known internally as founders' "guardian angel"; leverages operational expertise and network to support fundraising.
- Pedro Jannuzzi — Associate. Supports new investments and provides strategic/operational assistance to portfolio companies; background in M&A and asset management.
- Vinicius Calasso — Research. Brings a private equity / equity research background to sourcing and diligence, connecting capital to promising founders.
Decision Process
SaaSholic runs a partner-sponsored model rather than full-consensus committee decisions: each of the three partners sponsors and champions roughly five portfolio companies at a time, and deals can proceed even without unanimous partner agreement (self-described internally as "coordinated chaos"). Typical timeline runs about 15 days from first conversation to a term sheet discussion, and roughly 30 days to close.
Founder Preferences
The firm favors ambition and proximity to the problem over pedigree, and is placing growing weight on technical depth in founding teams (recent investments have included founders with several in-house engineers). SaaSholic is explicit about where it does not add value: it avoids B2C and capital-intensive business models, favoring capital-efficient, data-rich B2B software.
Geographic Focus
Latin America broadly, with a heavy concentration of portfolio companies headquartered in Brazil, alongside investments in Uruguay (hiSofi) and other regional markets. The firm is based in São Paulo, Brazil.