{"id":18871,"date":"2015-10-19T21:09:09","date_gmt":"2015-10-19T21:09:09","guid":{"rendered":"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/"},"modified":"2015-10-19T21:09:09","modified_gmt":"2015-10-19T21:09:09","slug":"finep-increases-resources-to-startups-em-portugues","status":"publish","type":"post","link":"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/","title":{"rendered":"Finep Increases Resources to Startups (em portugu\u00eas)"},"content":{"rendered":"

(\u00c9poca NEG\u00d3CIOS<\/a>) FINEP’s new R$20m fund will offer up to R$1m to companies with developed products and in need of expansion capital.<\/p>\n

Financiadora de Estudos e Projetos (Finep) desenvolveu uma solu\u00e7\u00e3o para minimizar os riscos de investir em startups no Brasil. Em vez de fazer um aporte nas companhias em troca de uma participa\u00e7\u00e3o acion\u00e1ria, como fazem os investidores privados, a institui\u00e7\u00e3o receber\u00e1 uma op\u00e7\u00e3o de compra de a\u00e7\u00f5es da empresa investida.<\/p>\n

Na melhor das hip\u00f3teses, se a startup crescer e se transformar no pr\u00f3ximo Facebook, a financiadora pode converter sua op\u00e7\u00e3o e se tornar s\u00f3cia de um neg\u00f3cio bilion\u00e1rio. Se ela quebrar, a Finep perde o investimento, mas fica livre do \u00f4nus de ser acionista de uma empresa falida.<\/p>\n

A financiadora j\u00e1 captou R$ 20 milh\u00f5es para o fundo Finep Startups, que ser\u00e1 lan\u00e7ado em novembro. Os recursos ser\u00e3o destinados a companhias com faturamento de, no m\u00e1ximo, R$ 3,6 milh\u00f5es, que j\u00e1 t\u00eam um produto desenvolvido, mas precisam de capital para conquistar mercado. Cada empresa poder\u00e1 receber um aporte de at\u00e9 R$ 1 milh\u00e3o e, em troca, dar\u00e1 a Finep uma op\u00e7\u00e3o de compra de participa\u00e7\u00e3o. Tr\u00eas anos depois de fazer o investimento, a Finep poder\u00e1 exercer a op\u00e7\u00e3o ou renov\u00e1-la por mais dois anos.<\/p>\n

A institui\u00e7\u00e3o prev\u00ea o lan\u00e7amento de outro edital em 2016 e outros dois em 2017, cada um com mais R$ 20 milh\u00f5es. A sele\u00e7\u00e3o ser\u00e1 feita por meio de uma chamada p\u00fablica e vai priorizar companhias em \u00e1reas definidas como estrat\u00e9gicas pelo governo, como sa\u00fade, defesa e energia. A estimativa da Finep \u00e9 de que 40 startups recebam investimentos at\u00e9 2016.<\/p>\n

“N\u00e3o t\u00ednhamos um instrumento de apoio financeiro adequado para as empresas em est\u00e1gio inicial”, diz o presidente da Finep, Luis Fernandes. Segundo ele, as novatas t\u00eam dificuldade em acessar as linhas de cr\u00e9dito da institui\u00e7\u00e3o, principalmente por n\u00e3o ter garantias para oferecer. “Elas precisam de capital de risco para crescer. Cr\u00e9dito n\u00e3o funciona”, disse.<\/p>\n

O problema \u00e9 que o setor privado ainda \u00e9 avesso a companhias em est\u00e1gio inicial. A Finep identificou uma escassez de recursos para estimular as empresas quando elas j\u00e1 t\u00eam um produto, mas ainda n\u00e3o conseguiram coloc\u00e1-lo no mercado. Muitas dessas companhias j\u00e1 receberam aportes financeiros dos chamados investidores-anjo – pessoas f\u00edsicas que investem em startups – e precisam de mais recursos, mas ainda n\u00e3o est\u00e3o prontas para acessar fundos que compram participa\u00e7\u00f5es em empresas, como os de venture capital.<\/p>\n

Para o diretor executivo da Associa\u00e7\u00e3o Brasileira de Startups (ABStartups), Guilherme Junqueira, o financiamento p\u00fablico pode ajudar as empresas a crescer, mas n\u00e3o \u00e9 o ideal no longo prazo. “Em mercados mais maduros, o governo entra para fazer a empresa crescer mais r\u00e1pido e para atrair a iniciativa privada, que far\u00e1 investimentos de maneira mais c\u00edclica”, disse.<\/p>\n

Anjos
\nO edital do fundo para startups prev\u00ea que as empresas que apresentaram uma carta de inten\u00e7\u00e3o de investidores-anjo dispostos a acompanhar a Finep no investimento ganhar\u00e3o pontos na sele\u00e7\u00e3o.<\/p>\n

Para o CEO da Brazil Innovators, Andr\u00e9 Monteiro, o modelo adotado pela Finep \u00e9 positivo, pois d\u00e1 prefer\u00eancia \u00e0 startups que j\u00e1 passaram pelo crivo de investidores-anjo. Contudo, este crit\u00e9rio n\u00e3o deve conduzir a decis\u00e3o de quais empresas receber\u00e3o recursos p\u00fablicos. “\u00c9 importante considerar a qualidade dos investidores, porque, \u00e0s vezes, trata-se de algu\u00e9m que s\u00f3 tem dinheiro e pouco entendimento para fazer uma an\u00e1lise adequada do projeto”, diz.<\/p>\n

Os investidores-anjo que se aliarem \u00e0 Finep tamb\u00e9m ter\u00e3o op\u00e7\u00f5es de compra nas empresas, proporcionais aos aportes que far\u00e3o – definido entre R$ 50 mil e R$ 350 mil. “Isso simplifica o risco, que passa a ser s\u00f3 o de capital”, disse C\u00e1ssio Spina, presidente da Anjos do Brasil, organiza\u00e7\u00e3o criada para fomentar investimentos nesse segmento. O temor de ter seu patrim\u00f4nio pessoal comprometido caso a empresa v\u00e1 \u00e0 fal\u00eancia afugenta investidores, diz Spina.<\/p>\n

Ele estima que metade das empresas novatas n\u00e3o d\u00e3o retorno ao acionista. “Mas h\u00e1 uma ou duas de dez que d\u00e3o alto retorno. Algo como 30 ou 50 vezes o capital investido. Elas compensam o risco das demais.”<\/p>\n

Retomada
\nCom o fundo para startups, a Finep aumenta a oferta de capital de risco para empresas inovadoras. Criada nos anos 60, a financiadora costumava ser s\u00f3cia de empresas e apoiar o seu crescimento. Mas os aportes diretos foram suspensos nos anos 80 e a empresa passou a atuar por meio de cr\u00e9dito e subven\u00e7\u00e3o.<\/p>\n

No in\u00edcio dos anos 2000, a Finep voltou a destinar parte dos seus recursos para capital de risco e se tornou cotista de cerca de 30 fundos de investimentos. A gest\u00e3o dos recursos e a escolha das empresas investidas \u00e9 feita pelos administradores dos fundos e n\u00e3o pela Finep.<\/p>\n

Neste ano, a institui\u00e7\u00e3o retomou a pol\u00edtica de compra direta de participa\u00e7\u00e3o em companhias, por meio do fundo Inova Empresa, que captou R$ 500 milh\u00f5es e fechou seu primeiro investimento em mar\u00e7o. O fundo investiu na holding ga\u00facha Parit, de empresas de automa\u00e7\u00e3o industrial e semicondutores. De acordo com Fernandes, os recursos para os fundos da Finep j\u00e1 foram captados e n\u00e3o dependem da aprova\u00e7\u00e3o do or\u00e7amento para 2016, que est\u00e1 em negocia\u00e7\u00e3o e pode sofrer cortes em meio ao ajuste fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"

(\u00c9poca NEG\u00d3CIOS) FINEP’s new R$20m fund will offer up to R$1m to companies with developed products and in need of expansion capital.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"acf":[],"yoast_head":"\nFinep Increases Resources to Startups (em portugu\u00eas) - LAVCA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finep Increases Resources to Startups (em portugu\u00eas) - LAVCA\" \/>\n<meta property=\"og:description\" content=\"(\u00c9poca NEG\u00d3CIOS) FINEP’s new R$20m fund will offer up to R$1m to companies with developed products and in need of expansion capital.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\" \/>\n<meta property=\"og:site_name\" content=\"LAVCA\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-19T21:09:09+00:00\" \/>\n<meta name=\"author\" content=\"dystrick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lavca_org\" \/>\n<meta name=\"twitter:site\" content=\"@lavca_org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"dystrick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\"},\"author\":{\"name\":\"dystrick\",\"@id\":\"https:\/\/www.lavca.org\/#\/schema\/person\/c2aca6233792370eb0c8be5b3e3b0278\"},\"headline\":\"Finep Increases Resources to Startups (em portugu\u00eas)\",\"datePublished\":\"2015-10-19T21:09:09+00:00\",\"dateModified\":\"2015-10-19T21:09:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\"},\"wordCount\":930,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.lavca.org\/#organization\"},\"articleSection\":[\"Industry News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\",\"url\":\"https:\/\/www.lavca.org\/finep-increases-resources-to-startups-em-portugues\/\",\"name\":\"Finep Increases Resources to Startups (em portugu\u00eas) - 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