We start small businesses,
operate them ourselves,
and hold them.

Fogo Capital is the company that owns the other companies. Each one is small, real, and run by people who answer for it — not a portfolio position, not a bet placed and left alone.

We are not a fund. There is no outside money, no committee, and nothing to exit into. That means we can take on businesses too small to interest anyone else and give them the years they actually need.

We build the thing before we describe it. A business earns a line in the ledger above once it has customers paying for something that already works, not when it has a plan to.

Everything is built to be operated by a small team for a long time. That constraint decides most of what we take on and almost all of what we turn down.