Brazil’s development bank commits US$350M+ to investment funds

LatAm List – The Brazilian development bank (BNDES) will provide direct support to Brazil’s investment ecosystem through a R$1.3-2.2B (US$350-560M) investment program over the next year.

The program will invest up to R$150M (US$38M) into VC funds with over double that turnover, at R$300M (~US$75M). The government fund will take up to a 40% stake in venture capital firms where it invests, and up to 25% equity stake in PE firms.

BNDES is particularly interested in infrastructure, technology, education, health, public safety, sustainability, and productivity improvements in its investment thesis. The focus will be on medium-sized companies, rather than on startups or larger firms.

Read more in the original story on LAVCA.

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