Adrenax Capital is an early-stage venture capital firm and startup factory based in Sao Paulo, Brazil. It was founded in 2007 to address problems in the Brazilian startup ecosystem at that time, including a lack of seed funding and experienced entrepreneurs. Adrenax aims to grow startups over 3 years that can then be acquired by larger companies or bought out by their founders. It has tested its startup factory model by founding 9 companies so far, with most achieving break-even or merging/being acquired. The management team is led by CEO Augusto Camargo and they have partnerships with several top Brazilian universities to source entrepreneurs and ideas.