BNDES and Finep Select Monashees to Manage US$ 97 Million AI Fund
Monashees was selected by BNDES and Finep to manage a new fund expected to mobilize up to US$ 97 million for Brazilian AI startups.
Monashees has been selected by the Brazilian Development Bank (BNDES) and the Funding Authority for Studies and Projects (Finep) to manage a new Investment Fund in Artificial Intelligence. The selected proposal will now move forward to the analysis, due diligence and structuring stages.
New fund could mobilize up to US$ 97 million
The new fund is expected to mobilize up to US$ 97 million and will focus on supporting startups that make intensive and strategic use of artificial intelligence.
The initiative seeks to increase the number, revenue and global presence of Brazilian startups in which AI is a central component of their business models and value creation, rather than simply an accessory or complementary tool.
As part of the structure, BNDESPAR may commit up to US$23.9 million, while FNDCT/Finep may contribute up to US$15.3 million. The commitment from each anchor investor will be limited to 25% of the Fund's participation, allowing anchor investors to play a catalytic role in attracting additional investors.
The public call received 17 proposals, from which the proposal submitted by Monashees Gestão de Investimentos was selected.
Investment focus on AI-intensive startups
The fund will target startups whose competitive advantage is based on the structural incorporation of artificial intelligence into their value proposition.
The companies targeted by the initiative are expected to require investments in areas such as data, models, computing infrastructure and specialized professionals to develop, adapt and operate their AI solutions.
This focus distinguishes the target companies from businesses that only make occasional or accessory use of ready-made artificial intelligence solutions.
Initiative aligned with Brazil's AI plan
The fund is part of the Brazilian Artificial Intelligence Plan (PBIA), an initiative focused on improving Brazilians' lives through artificial intelligence innovations aimed at strengthening national productive capacity and social well-being.
“With this fund, conditions will be created for the emergence of new innovative companies, the development and retention of talent in the country, as well as increased productivity in the Brazilian economy,” said BNDES President Aloizio Mercadante.
The selected proposal will now proceed through the next stages of analysis, due diligence and fund structuring.
