Founders · The Value Test
We don't fund promises — we fund structure.
Early-stage technology founders in Brazil introduce their businesses. We identify the constraint holding value back, test whether it can be removed, and — in the strongest cases — structure and invest. You leave with a read on your own value, whether or not you receive capital.
The Value Test
The same framework we apply to our funds — applied to your company.
Before any check, we put your business to the test: we find the specific constraint keeping its value from being realized and test whether structure can remove it — before we invite capital in. The Value Test is free.
How it works
- 01
Apply
You introduce the business — and, above all, the constraint you believe is holding it back. No data room, no red tape, no cost. We answer every application — including when the answer is no.
- 02
Screening
We assess fit with our thesis: is there real value, and a specific constraint that can be removed? We reply within 48 hours: “let's test it” — or “no, and here's why.”
- 03
The Value Test
This is the test. We name the constraint, examine the numbers and test whether the value can be unlocked with structure — or whether it is a risk no one can remove. Funded or not, you receive the Value Read (Leitura de Valor), our written read on your value: the constraint named, a candid assessment of investability, and what would need to change to unlock it.
- 04
Structuring
For approved companies, we design the position's structure: preferred rights, milestone-gated capital and a defined recovery path.
- 05
Investment
Capital comes from Apalaches FIP, a fund managed by Trivèlla, under the agreed structure, and is released as uncertainty is removed — not all at once. Investments are subject to approval by the investment committee and to the fund's regulations; no return is guaranteed.
- 06
Partnership
After the check: partners, not just investors. Structure and governance in service of the people who execute.
The Value Read (Leitura de Valor) is a preliminary assessment. It is not a valuation report, an investment recommendation or a commitment to invest.
Who it's for
We look for
Early-stage technology founders who have built real value and can name the specific constraint holding it back — companies with a product, operations or an asset the market still misprices. We invest R$ 500k to R$ 1.5M per company, through Apalaches FIP, with a preference for fintech.
We're not the right fit
For an idea without operations yet, for founders looking only for mentoring and a network, or for anyone who needs capital without structure. We don't fund promises; we fund structure. If your value is still to be built, the time to talk is later.
Questions
Does the Value Test cost anything?
No. Applying, screening and the Value Test are free.
Do I give up equity just to be tested?
No. The Value Test involves no transfer of equity. Equity only comes in if — and when — both sides agree on an investment structure, at the Structuring stage.
What if you don't invest?
You leave with the Value Read: your company's constraint named and a path to unlock it. Most companies tested will not be funded — and all of them leave knowing why.
How selective are you?
Very. Investing is the exception, not the rule. We prefer a few companies whose structure can carry capital over many that depend on luck.
What exactly does “being funded” by you mean?
It means receiving capital from Apalaches FIP, a fund managed by Trivèlla, within a structure designed for the business — not a promise of results. We are a CVM-regulated manager; investments are subject to investment committee approval and to the fund's regulations, and no return is guaranteed, for the founder or the investor.
How long does it take?
We reply to your application within 48 hours. The Value Test takes a few weeks, depending on the complexity of the business — an estimate, not a guaranteed deadline.
What stage and sector do you look for?
Early-stage technology companies with existing value and a removable constraint, with cheques of R$ 500k to R$ 1.5M per company, through Apalaches FIP, with a preference for fintech. An idea without operations is usually not a fit yet.
What happens to my data?
We handle what you send with discretion and only to evaluate your business, including through service providers who support us under a duty of confidentiality, in line with Brazil's LGPD and our Privacy Policy (in Portuguese). We don't ask for data-room documents at application; they only come in, under access control, if we move to Structuring.
The structuring mechanisms described reflect the investment discipline Trivèlla seeks to apply and do not eliminate risk. Private equity and venture capital investments involve significant risks, including illiquidity, long holding periods, concentration and the possible loss of all or part of the capital invested. No outcome is guaranteed.