Interview with Amy Chan: How Valoradar is Unlocking Growth in Brazil's Underserved Communities
By Manasi Patil, Interview by Matilde Aranha & Manasi Patil
As part of our interview series for SpeakEasy, we had a very insightful conversation with Amy Chan, founder of Valoradar. Valoradar invests in entrepreneurs and small businesses from Brazil’s favelas. These small businesses—typically run by Black women in their 30s—face major challenges: 40% don’t use bank accounts, and only 10% have degrees. Yet, they play a vital role in the economy and local community. So, we wanted to know more.
Amy made time to meet with us virtually on a Sunday and to answer our questions. Big thanks to Romy and Avi for making this happen!
Here is what we learned:
How Are Small Businesses in Brazil Changing the Game?
22 million small businesses are driving 30% of Brazil’s GDP and creating 69% of its jobs, while the top 0.01% controls 18% of the nation’s wealth. Valoradar wants to shift the balance by offering more than just money—they provide strategy and operational support too. And with minority stakes, they let founders keep control and build generational wealth.
How Did Valoradar Start?
It all began with Zoom classes for kids in the favelas during the pandemic. Their eagerness to learn opened Amy’s eyes to the untapped potential in these communities, and the way social bias was holding them back. With 25 years in finance under her belt, Amy knew she could do something—and Valoradar was born.
What Makes Valoradar’s Approach Different?
Valoradar’s edge lies in combining financial backing with hands-on advice. Amy calls it the “fund plus mentor” model, and they’re scaling fast. By year’s end, they’re set to support 20 businesses, with 200 more in the pipeline for next year. This isn’t just about money—it’s about empowerment.
Who Are They Backing?
So far, Valoradar has invested in businesses like Expinafru, founded by Bruna Carvalho, a vegan cheesemaker selling in high-end health boutiques, and Café Quilombo, run by Danilo Negrete, which is getting its coffee into Carrefour.“These founders have amazing products, proven sales, and cash flow,” Amy explains. “They’re on the edge of something big—they just need a little extra support, and that’s where we come in.”
What’s the Biggest Challenge?
Amy’s biggest hurdle has been the cultural bias her entrepreneurs face daily. For them, it’s not just about building a business—it’s about overcoming systemic discrimination and racism. Valoradar is also turning to AI to automate tasks like due diligence and marketing, helping their businesses stay visible—especially to Gen Z.
Lessons for India: Is Dharavi Facing a Similar Challenge?
Amy’s work got me thinking about Gautam Adani’s $2.4 billion redevelopment plan for Mumbai’s Dharavi, one of Asia’s largest slums. Dharavi’s informal economy generates around $1 billion a year, but there’s concern that the redevelopment could push out long-established businesses. The question is, how do you modernize while preserving the spirit of local entrepreneurship?
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