What Founders Can Learn From a Decade of Investing with Renato Braz

When you’re raising your first round, it's easy to focus on pitch decks, valuations, and demo day theatrics. But behind the capital, there are real humans making hard calls—and few have a more rounded perspective than Renato Braz.

In our latest Investor Circle podcast episode, Renato joins Canopy founder Stewart to talk honestly about his journey across angel investing, corporate venture capital, and pan-European funding. It’s a must-listen for any founder looking to raise smart money and for any seed-stage investor navigating early-stage risk.

Investing from Three Lenses: Angel, Corporate, and Pan-European

Renato’s unique experience spans investing his own money as an angel, managing multimillion-euro funds in a corporate VC, and supporting the long-term energy transition across Europe. While the capital pools differ, one theme remains constant: people matter most—especially at the early stage.

He explains that at pre-seed and seed, it's the founding team that makes or breaks an opportunity. "Once a company reaches growth stage," Renato notes, "individual influence dilutes—but at the start, the team is everything."

People, Not Just Product

Too many first-time founders fixate on features and tech. But as Renato shares, great investors are betting on vision, resilience, and clarity. Founders who are open to feedback—without losing the core of their vision—stand out. That ability to balance humility with conviction is what separates those who get funded from those who don’t.

His advice? “It’s your vision, not the investor’s. Learn to listen, adapt, and stay true.”

Exits Are Real—But Rare

From Lisbon to London and beyond, many founders ask: do exits really happen? Renato’s answer: yes, but not always how you expect. He’s seen successful, profitable exits—but also bankruptcies and symbolic €1 put options. For both founders and investors, understanding the power law is essential. Most returns will come from a few big wins. The rest? Lessons.

The Energy Startup Advantage

As an energy sector expert, Renato’s also bullish on the future of climate tech and clean energy startups. But he warns: this isn’t SaaS. You’re building with electrons, molecules, hardware—and that takes time, money, and patience. Having the right cap table and long-term investors matters more than ever.

Advice for First-Time Founders

If you’re part of the Canopy Membership or just starting out on your founder journey, Renato’s final message is clear:

✅ Build a team people want to work with
✅ Stay true to your vision, but adapt with insight
✅ Choose investors who understand your runway, not just your roadmap
✅ And remember: investors are people too

🎧 Listen to the full episode on YouTube or wherever you get your podcasts.

🔗 Join the conversation and connect with investors like Renato inside the Canopy Community—the place where founders grow faster, together.

👉 Learn more at www.canopy.community

Watch the full episode at https://youtube.com/playlist?list=PLrMrateB2yVX5-hCIM9mPGjG0eUQELOA6&si=aCZkXuDGDk02VXmf