• JetPack, as the program is called, aims to help entrepreneurs who live outside of Brazil explore innovative ideas;
• Buser and Loft are some of the startups in Canary Ventures’ investment portfolio.

An early-stage firm with more than $120 million under management, the Brazilian venture capital firm Canary Ventures has launched a new startup program to support first-time founders kick-off their business ideas in the country, as reported by Crunchbase.

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Called JetPack, the program aims to help entrepreneurs who live outside of Brazil explore innovative ideas. The VC fund announced a $75 million fund in December to invest in around 50 early-stage startups operating especially in Brazil. Investor of startups such as Buser and Loft, São Paulo-based Canary Ventures usually raises the first seed or Series A funding to tech companies in Brazil.

“Here we could use a lot of technology to become more efficient,” Izabel Gallera, the Canary partner leading JetPack said to the media outlet. “Even a little bit of technology could help gain a lot of efficiency. In Brazil, we have much more explicit opportunities of building something that can solve a real problem.”