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BNDES Will Create Two New Funds to Invest in Startups

14 July 2013

(Valor Economico) The Brazilian Development Bank (BNDES) will launch this year two new Criatec funds, for seed-capital investment, targeting innovative emerging companies. The new funds will have at least R$340 million in assets and will direct their investments to biotechnology, health and agribusiness startups. IT companies are not included because BNDES considers that they already get the attention of angel investors.