The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group, committed to invest $4m in C-Ventures Primus, a Brazilian seed capital fund.
C-Ventures Primus will focus on backing in promising start-ups or new firms located in the states of Santa Catarina, Paraná, and Rio Grande do Sul in sectors including energy, including:
– renewable energy and energy efficiency;
– life sciences, including bioengineering, biotechnology and medicine;
– digital media; and
– ICTs.
The fund, which plans to raise $46m to invest in up to 16 firms, will be managed by Companhia de Participações (CRP), Managers include José Eduardo Azevedo Fiates, Felipe Marcondes de Mattos, Erich Muschellack, and Gabriela de Salles van der Linden.
The MIF also approved a $1m technical cooperation with Associação Brasileira de Private Equity e Venture Capital (ABVCAP), a Brazilian nonprofit organization, to support the development of the venture capital ecosystem in Brazil and elsewhere in Latin America.
FinSMEs
14/12/2011