ABSeed launches Winners and strengthens its strategy with a new US$19,7 million fund

ABSeed announced the launch of ABSeed Winners, a new US$19,7 million evergreen fund designed to expand its investment strategy beyond its traditional focus on early-stage B2B SaaS startups. The vehicle will allow the firm to make follow-on investments in portfolio companies, participate in later-stage rounds, and explore sectors that were not previously part of its investment thesis.

The announcement comes alongside the raising of another US$19,7 million for its third Seed fund, strengthening the firm's commitment to the technology ecosystem.

A more flexible fund for investing

Unlike ABSeed's Seed funds, which operate according to defined investment theses and timelines, Winners was designed to offer greater flexibility in both strategy and investment horizon.

According to Franco Zanette, a partner at ABSeed Ventures, the new vehicle was structured for a group of family offices with a strong commitment to investing who were seeking greater exposure to innovation.

"We have some highly committed families, and we created this vehicle to offer them more flexibility in our investment thesis. This fund operates alongside the Seed funds; it doesn't compete with them. It also broadens our scope beyond software, including pure artificial intelligence and hardware," Zanette explained.

In addition to participating in follow-on rounds for companies backed by ABSeed's first three funds, Winners will also invest as a follow-on investor in Series B and Series C rounds, while expanding its reach into sectors such as hardware.

Existing investors drive the new fundraising

The US$19,7 million raised for Winners is in addition to a new fundraising round for the same amount for Seed 3, the firm's third flagship fund, launched in 2024.

This fund's portfolio includes startups such as Clinia (healthtech), Harumi (IoT), Teceo (B2B commerce), DGenny (AI for construction companies), and Robbin (fintech).

According to Zanette, close to 80% of the capital committed to Winners came from investors who were already part of ABSeed's limited partners base, reflecting the trust built through the performance of previous funds, despite a more challenging fundraising environment.

"Clearly, we had to make a greater effort to reach fundraising levels similar to those of previous years," he said.

Healthcare becomes a strategic priority

With the new capital available, ABSeed plans to increase its exposure to the healthtech sector, where it sees opportunities driven by artificial intelligence applications that can improve interactions between doctors and patients, as well as enable new healthcare delivery models.

Zanette said the firm expects to make new investments in this segment in the near term, while noting that logistics remains a sector not yet represented in its portfolio.

"More healthcare investments are coming in the near future. One sector we haven't managed to enter yet is logistics. We still haven't found the champion," he said.

The evergreen structure will enable the firm to support startup growth

One of Winners' key differentiators is its evergreen structure, which, unlike traditional venture capital funds, has no deadline for exiting investments and operates by recycling capital.

This model will allow ABSeed to continue backing the most promising companies in its portfolio through multiple funding rounds, without the pressure associated with the life cycle of a closed-end fund.

The investor profile also differs from that of the Seed funds. Winners currently brings together four family offices with experience in the industrial and technology sectors. They were already significant investors in the Seed vehicles and are now participating as long-term strategic partners.

"Although the investment theses are different, both funds seek similar returns. Those investing in Winners already have a significant allocation to our Seed funds," Zanette explained.

A vehicle that expands opportunities and strengthens relationships with investors

For Felipe Coelho, a partner at ABSeed, the new fund formalizes an investment opportunity the firm had already identified through its deal flow.

"Initially, it will focus on follow-on rounds in the portfolio. We were already receiving many Series C opportunities, and now that has become an official position," he said.

Beyond financial returns, Coelho noted that ABSeed seeks to add value for its investors through detailed reports and an ongoing educational process focused on startup growth strategies and capital efficiency.

"What we constantly hear from our LPs is that, by working with us, they learn and take valuable knowledge back to their own businesses," he concluded.