With an estimated equity of R$ 100 million, the Fund seeks to stimulate entrepreneurship and the innovation ecosystem, in addition to disseminating angel investment in Brazil
The National Bank for Economic and Social Development (BNDES), through its shareholding arm, BNDESPAR, structured a public call for the selection of the Angel Co-investment Fund to support start-ups, which operate primarily in the Agribusiness, Biotechnology, Smart Cities, Creative Economy, Nanotechnology, New Materials, Health and Information and Communication Technologies (ICT).
To this end, on November 14, it launched a Public Call for the national selection of the Capital Semente Investment Fund and its manager, with the aim of supporting – together with angel investors and/or accelerators – innovative Brazilian startups with high potential. of growth.
The Anjo Co-investment Fund will have a duration of 10 years (the first five refer to the investment period) and a committed equity estimated at R$ 100 million. It may be constituted when it reaches, at least, R$ 60 million, and BNDESPAR's share will be R$ 40 million, in this first closing. The other resources must be raised from other investors.
The Fund will support companies with annual net operating income of a maximum of R$ 1 million in the year immediately preceding the investment approval. The Fund may invest up to R$ 500 thousand in these companies, provided that there is a joint investment, in the same proportion, by an angel investor and/or accelerator.
In addition, the Fund is multi-stage, which allows for other rounds of capitalization to take place in emerging companies in the portfolio with the best performance, which reach the level of “small innovative company” (companies with annual revenues between R$ 1 million and R$ 16 million, calculated in the year immediately preceding the investment approval). These additional investments, per company, may reach a maximum limit of R$ 5 million, including any amounts previously contributed.
Candidates for manager of the Anjo Coinvestment Fund have until January 12, 2018 to submit their proposals, which will be evaluated by BNDESPAR according to criteria listed in the Notice, such as manager history, governance, proposal quality and cost structure , among others. Details and other information are available at: www.bndes.gov.br/fundoanjo.
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