Startups: Igor Monteiro wants to take EqSeed beyond equity crowdfunding

“Turning the key between multiple tabs” is almost an official description of Igor Monteiro’s work. In the same day, the CEO of EqSeed can discuss a CVM public consultation, align commercial strategies with partners and record a podcast about venture capital – all without leaving the universe of startups and the financial market, a subject that, according to him, even occupies his race training and weekends.

At the head of the company since 2024, Igor is leading a new moment for the platform, which has already structured more than 80 offers regulated by the CVM, totaling around R$130 million in investments. The goal now is to expand EqSeed’s operations beyond equity crowdfunding, bringing the company closer to the traditional financial market, focusing on credit, infrastructure and connection with investment advisors.

In an interview with Startups, the executive recalled the times when a round raised by the platform closed within 24 hours, commented how rising interest rates changed investors’ appetite and explained why he believes the ecosystem has emerged more mature from recent difficult years. Between one answer and another, he also talked about football on Sundays, biographies and the difficulty of disconnecting even after working hours.

See below the best moments from this conversation.

Startups: You have extensive experience in M&A and venture capital, including leading operations in Brazil and abroad. How did you decide to dedicate yourself to the startup market?

Igor Monteiro: I had contact with startups from a very early age. As an undergraduate, I was president of the junior company at PUC-RJ and, at that time, we were very close to the Gênesis Institute. This brought me closer to incubators and the startup concept, even when the ecosystem was still much less mature than it is today. The profile of startups was also different. There were many companies linked to the oil and gas market, driven by the pre-salt boom at that time.

The migration to this market happened quite naturally in my professional career. So much so that my undergraduate thesis was on startup valuation. Over these almost 15 years in the financial market, there have been few moments in which I have not had some contact with startups.

Startups: When he took over leadership of EqSeed, the company had already existed for a few years. What did you feel needed to change, rather than just “repeating past success”?

IM: I joined EqSeed in 2020 and took over as CEO in 2024. At that time, my main mandate was to lead the expansion into B2B. The turnaround began with the regulation update, between 2022 and 2023, when EqSeed took the first steps to connect to the traditional financial market, especially through the partnership with Itaú.

I took over precisely to accelerate this front, because we understood that it would be the company’s main growth driver. This required an important change in mentality: moving from being a company focused on B2C, as we were from 2016 to 2022, to building a B2B operation, which works in a completely different way.

With this, the challenges have also changed. We started thinking about how to help investment advisors talk about startups with clients at the forefront.

Startups: How do you see the role of regulators in expanding (or containing) models like EqSeed?

IM: It is a fundamental role. For EqSeed, there are three essential elements for the development of this market and the growth of the category. Regulation is one of them, because it defines the rules of the game in a balanced way.

There is an important challenge in creating regulation aimed at small companies, considering their reality and the flexibility necessary to carry out a public offering. At the same time, it is necessary to guarantee protection for individual investors. This balance is delicate, and I think the CVM was quite skillful in evolving Resolution 88.

The other two pillars are financial education and technology. It is necessary to teach both companies and investors how to operate in this regulated environment. Therefore, EqSeed created an education arm, still in its initial stage.

We launched the first course in 2023, aimed at investors who were starting to learn about the sector and wanted to understand how investing in startups works. Today, we see education as a strategic pillar for the future of EqSeed, both from the side of companies and investors. The tendency is for this front to evolve significantly in the near future.

Startups: In 2026, what is most different about the startup investment market in Brazil compared to what you saw in the past?

IM: The investment environment is much more challenging than it was five years ago. When I joined EqSeed in October 2020, the market was starting to explode. At the time, I headed the company’s analysis desk, and the reality was completely different. We placed a fundraising offer on the platform and it could be completed within 24 hours.

There was a very favorable context, both due to the macroeconomic environment – ​​with lower interest rates – and people’s interest in this type of asset.

Today, the scenario has changed a lot. Companies need to demonstrate a much higher level of robustness, prove more traction and maturity. At the same time, investors are less willing to take risk, especially when faced with a very high opportunity cost due to interest rates. Then, the business environment for equity investments became significantly more difficult.

Startups: What are Eqseed’s priorities in the short and long term?

IM: In the short term, our main priority is the launch of the Debt Capital Markets (DCM) area, focused on credit. We are in the final stretch of this structuring and we see this front as an important step in the company’s evolution.

The idea is to transform EqSeed into a kind of one-stop shop for small businesses in Brazil. And, in this process, the evolution of regulation will be fundamental.

We want EqSeed to be among the first options when a small company thinks about raising funds – whether via equity or structured debt. Therefore, we have invested heavily in technology and in improving processes, so that the platform becomes top of mind in both equity and credit operations.

In the beginning, we positioned ourselves as an investment platform for startups and online venture capital. Today, the ambition is much greater. We want to build an infrastructure for the private companies market. This involves the primary market for equity, credit and debt, in addition to the development of a secondary market for these assets. We also want to expand integration with the traditional financial market, bringing bankers and investment advisors closer to this universe.

Investing in startups continues to be a central theme for us, but we want to go further and insert this asset class into the day-to-day life of the traditional financial market.

Startups: Who is Igor Monteiro outside of the CEO chair?

IM: I’m 39 years old from Rio and father of a girl who’s almost three. I often joke that I have a nerdy streak since the time when being a nerd wasn’t yet “cool”. And not necessarily in the sense of technology, but because of the love of studying.

I am completely passionate about the financial market and I have difficulty disconnecting, even on holidays or weekends. I’m always consuming content about investments. I listen to podcasts about the financial market and I really like reading biographies related to this universe.

When I’m not working, I’m usually following something related to the financial market or football.

Startups: What daily habit or ritual helps you stay focused in a highly uncertain environment like startups?

IM: I try to maintain an organization routine. Every Sunday, for example, I stop to structure my week. When I need more concentration, I usually listen to music.

I don’t think I have any extraordinary habits related to focus, but there is one point that is both interesting and challenging: today I practically have no routine. On the same day, I can be in a very dense meeting discussing EqSeed’s response to a CVM public consultation, then engage in a conversation about commercial strategy and, subsequently, record a podcast about venture capital.

So, a big part of the challenge is being able to quickly turn the switch between completely different contexts.

X-ray – Igor Monteiro

An ideal weekend has… soccer

A book you recommend: “Cezar”, biography of Luiz Cezar Fernandes written by Alessandro Greco, and “De Volta ao Jogo”, which brings together stories from BTG Pactual, written by Ariane Abdallah and Violaine Cadinot

An artist that won’t leave your playlist: I’m very eclectic, I listen to everything from samba to John Mayer

A craze: Apart from shaking your leg, I don’t think any

Your best quality: Sincerity

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