en.Wedoany.com Reported - The Brazilian Development Bank (BNDES) and the Funding Authority for Studies and Projects (Finep) jointly launched a public call on Tuesday (16) to select a manager for the FIP Conexões Startups fund. The fund has a target capital of BRL 250 million, focusing on innovative growth-stage companies, as part of Brazil's overall strategy to strengthen its innovation ecosystem, involving artificial intelligence and venture capital.
The call was announced during the BNDES Garagem 2026 event held in Rio de Janeiro. At the event, the two institutions also announced the results of the call for the Artificial Intelligence Equity Investment Fund (FIP IA), receiving 17 proposals from interested managers.
The new startup fund will focus on companies that have already gone through innovation support, acceleration, economic subsidies, or technology credit programs. Eligible projects include BNDES Garagem, Centelha, Tecnova, Inovacred, Mais Inovação, and Mulheres Inovadoras.
The FIP Conexões Startups was created to address a key challenge in the Brazilian ecosystem: transforming companies that have received technical assistance or public resources into businesses capable of attracting private capital for expansion. The selected manager must demonstrate the ability to identify opportunities, build investment pipelines, and connect startups with institutional investors.
BNDESPar can invest between BRL 40 million and BRL 100 million in the fund, while Finep, through the National Fund for Scientific and Technological Development (FNDCT), can contribute up to BRL 50 million. The fund will invest in companies with annual revenues not exceeding BRL 20 million and will establish specific guidelines to expand investments in the North, Northeast, and Central-West regions.
During the event, BNDES President Aloizio Mercadante announced that BNDESPar will invest up to BRL 63 million in the Antler Brasil I fund. This investment vehicle also pools resources from Finep, the Regional Development Bank of the Far South (BRDE), BADESUL, and Fomento Paraná, with a committed capital size of up to BRL 250 million. Approximately BRL 65 million comes from foreign investors. Antler's strategy focuses on pre-seed stage startups, aiming to support up to 100 Brazilian tech startups. Antler operates in over 27 markets and has invested in more than 1,800 companies since 2018.
In the technology sector, the progress of FIP IA was a major announcement. The fund is considered one of the key financing initiatives within the Brazilian Artificial Intelligence Plan (PBIA). The call, launched in April, received 17 proposals from managers, with the final selection to be announced in September. The initiative aims to increase the number of Brazilian startups with AI as their core business model. The fund can mobilize up to BRL 500 million, with BNDESPar planning to commit up to BRL 125 million and Finep, through FNDCT, contributing up to BRL 80 million. To stimulate private participation, each anchor investor's stake in the vehicle's assets is capped at 25%.
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