Brazil's State Bank BNDES Builds a Fund to Pull Foreign Money Into Startups

Brazil's development bank BNDES launched a R$250m venture fund to bridge startups to growth capital and draw foreign money as high rates bite.

mercoledì 17 giugno 2026 New tab

1,025 words~5 min read

Brazil · Technology

—The launch. Brazil’s development bank BNDES and its innovation agency Finep opened a call for a new R$250m ($49m) fund to back growth-stage startups.

—The gap it fills. The fund is built to carry startups from accelerators and grants into the world of venture capital, a stage where private money often runs dry.

—The foreign hook. About R$65m ($13m) of the target is meant to come from foreign investors, an explicit attempt to draw international capital in.

—The partner deal. At the same event BNDES committed up to R$63m ($12m) to Antler Brasil, a local arm of a global early-stage investor active in dozens of markets.