Rio de Janeiro \u2013 Emerging companies in the biotechnology and nanotechnology sectors are going to receive a boost. The creation of a venture capital fund has been passed by the Brazilian Development Bank (BNDES). The announcement was made today (28th) by the bank.<\/p>\n
According to the BNDES, the two sectors have been selected in keeping with the institution\u2019s strategy of supporting technological innovation in the country\u2019s industrial matrix, as a means of guaranteeing the competitiveness of Brazilian companies.<\/p>\n
The bank will participate by means of its subsidiary BNDES Participa\u00e7\u00f5es (BNDESPAR), and will own up to 25% of the fund\u2019s committed equity.<\/p>\n
Company managers interested in the new instrument will have up until October 19th to submit their proposals. The venture capital fund will be established under the BNDES\u2019 Investment Funds Program, launched in July last year. In the first phase, in August 2008, the program selected three private equity funds: Brasil Agroneg\u00f3cio, FIP Terra Viva and CRP VII.<\/p>\n
According to the BNDES, the investment targets for the second and third phases are being selected. The bank intends to choose funds linked to assets in forestry and oil and gas. The BNDES currently takes part in 31 investment funds, with committed equity of approximately 8 billion Brazilian reals (US$ 4.4 billion).<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
Emerging biotechnology and nanotechnology companies will receive investment from the institution by means of a new venture capital fund. The sectors have been chosen in order to promote innovation.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[95],"tags":[],"class_list":{"0":"post-32324","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-innovation"},"wps_subtitle":"Emerging biotechnology and nanotechnology companies will receive investment from the institution by means of a new venture capital fund. The sectors have been chosen in order to promote innovation.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/32324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=32324"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/32324\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=32324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=32324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=32324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}