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Confrapar’s Avanti Fund Raises Up to R$80m from BNDES

5 November 2014

(Press Release) Confrapar’s Avanti Growth Capital Fund has been selected for investment by BNDESPar, BNDES’s investment vehicle. Last week, the bank completed its first public bid for private equity fund managers in which five funds were approved. Together these funds will receive R$470m in investments. In Confrapar, BNDES will invest up to R$80m, representing 40% of fund’s committed capital, becoming the sixth LP.

Over the next five years, the fund will invest in up to 10 tech companies focused on solutions for education, healthcare, financial services, media and telecommunications, with revenues between BRL 10-50 million per year.

“We target economy segments with strong growth and companies that can increase productivity in these sectors with effective solutions for the market develpment,” says Thiago Domenici, Confrapar Fund Manager and Partner. Today, the fund’s dealflow already has more than 10 technology companies to be invested – selected from more than 300 companies analyzed. Confrapar’s first investment should be close in the coming months.

According to Domenici, having BNDES as an LP in Confrapar, endorses the potential of the fund to find good business opportunities and bring the expected return to investors. “With BNDESPar, we will rely not only on one of the biggest LPs in the country, but also on its expertise in the Brazilian capital market,” he explains.

Besides the GP’s own commitment, Confrapar brings together LPs like Vivendi, multinational parent company of Universal Music; GRPCOM – one of the major media groups in Brazil; Truffle Capital and BDMG.