BNDES Participações (Bndespar), a subsidiary of the National Bank for Economic and Social Development (BNDES)will subscribe to shares in the Vox Tech for Good Growth Multistrategy Equity Investment Fund (FIP Vox TFGG), in the amount of up to R$125 million.
The operation was approved today (5) by the Bank. The subscription bulletin is expected to be signed later this month.
According to the BNDES, the fund should promote companies emerging from all over the country that present innovative solutions capable of generating a positive impact for society and for the environment.
The operation takes place within the scope of the public call for selection of impact funds, launched by the bank in July last year.
The objective is to encourage businesses that support waste management, housing, digital accessibility, the environment, transport, water resources, basic sanitation and education.
In order to attract private investment, BNDES decided to invest up to 25% of the total value of each fund. The rest will be captured on the market.
FIP Vox TFGG was one of three equity investment funds (FIPs) focused on impact businesses selected by BNDES in the public call.
In line with the BNDES’ 2020-2022 Triennial Plan, the selection encouraged investment in impact actions in the country, in favor of the environmental, governance and social agenda (AGS), financial sustainability and capital market development.
The other two funds selected by the bank were LGEF I – Fundo de Investimento em Participações Multiestratégia and Althelia Biodiversity Fund Brazil FIP Multiestratégia.
LGEF I already had its subscription bulletin (BS) approved and signed in March of this year, while Althelia Biodiversity remains under analysis, with no forecast yet on when the BS will be signed, BNDES informed Agência Brasil, through its Press office.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
