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Posted on October 7, 2015
BNDESPAR, the shareholdings subsidiary of the National Economic and Social Development Bank (BNDES), launched this Wednesday, October 7, the second public notice to select up to five investment funds, continuing the Multisector Notices initiative launched in 2014. The preferred sectors and products for this second notice are infrastructure, technological basis, education, health, creative economy and social impact funds. The managers, however, can also submit proposals from funds focused on other sectors or, even, with no specific sector focus.
The maximum BNDESPAR participation in the committed assets of every fund selected will be of 40% for venture capital funds (which invest preferably in companies with revenue of up to R$ 150 million in the year preceding the investment) and 20% for private equity funds (which usually invest in companies with revenue over R$ 150 million in the year preceding the investment).
Managers should submit their proposals to BNDES, in print and digital versions, until November 17. The proposals will be evaluated by BNDESPAR according to criteria referring to the fund’s raising of capital, manager history, quality of staff, quality of proposal and governance, among others. Details on the selection process can be found here.