Paulo Passoni (Valor Capital) on IPOs, M&A, and AI’s Impact on Startups in Latam

Welcome to Season 4 of The J Curve 🎙️ Kicking off this season with a must-listen episode featuring Paulo Passoni, one of the sharpest investors in Latin America. Paulo played a key role in SoftBank’s multi-billion-dollar investment in Latin America’s tech sector, serving on the boards of Quinto Andar, VTEX, and Creditas. Now at Valor Capital, he’s focused on backing and scaling the region’s next generation of high-growth startups. This conversation is a direct, tactical breakdown of what really matters when building and scaling in LatAm. Here’s what we cover: ♢ Why M&A is a broken exit strategy for VCs in LatAm – and why startups need to think bigger. ♢ The hard truth about IPOs – If you don’t hit $300M+ in revenue, forget about a public listing. ♢ Why the “$200M acquisition trap” kills LatAm’s unicorn potential – and what founders should optimize for instead. ♢ How SoftBank’s cash wave reshaped the market – and the pricing mistakes that investors (including Paulo) made. ♢ The scarcity of growth capital in LatAm – what it means for startups at Series B and beyond. ♢ How to spot truly “crazy” founders – and why they are the only ones who build billion-dollar businesses. ♢ The game-changing role of AI in scaling startups faster with fewer people. If you’re building or investing in LatAm, this is the playbook you need to hear. More from us: Subscribe to our weekly newsletter The J Curve Insider, where we go beyond the podcast to break down the most exciting investment & tech trends in LATAM. Sharp. Concise. Real business strategies and market insights you won’t find anywhere else. Delivered straight to your inbox.Follow us on LinkedIn or Instagram