BNDES launches fund to invest R$ 200 million in small innovative companies

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  • Posted on February 26, 2016


    The National Social and Economic Development Bank (BNDES) launched this Monday, February 15th, Criatec 3, a fund geared towards investments in innovative companies. The fund will be run on a national level by Inseed Investimentos, and will work with companies acting mainly in nanotechnology, information technology, biotechnology, agrobusiness and new materials. Eligible for support are companies with a maximum annual net operating income of R$ 12 million, and the maximum investment per company, in a first round of capitalization, will be of R$ 3 million. At least 25% of the Fund should be invested in companies with annual operating income lower than R$ 3 million.

    In addition to BNDES, other stakeholders are the Amazonas State Promotion Agency (Afeam), the Rio Grande do Sul State Development Bank (Badesul), the Espírito Santo State Development Bank (Bandes), the Minas Gerais State Development Bank (BDMG), the Far South Development Bank (BRDE), the Minas Gerais Research Support Foundation (Fapemig), the Paraná State Promotion Agency (Fomento PR), the company Valid S/A, as well as private investors and Inseed Investimentos.

    The third version of Criatec was launched after the success of the previous funds and will have seven regional hubs and a R$ 200 million endownment. The first fund invested in 36 companies between 2008 and 2015. Criatec 2, launched in 2013, has already approved investments in 18 companies, 15 of which have been invested in and three in the process of due diligence. By the end of its investment period, in December 2017, Criatec 2 should invest in up to 36 companies.

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