BNDES and FINEP receive 19 proposals for FIP Conexões Startups

BNDES and FINEP receive 19 proposals for FIP Conexões Startups

This press release was published in English using an automatic translation system

The Brazilian Development Bank (BNDES) and the Funding Authority for Studies and Projects (Finep) received 19 proposals in the public call for selection of the manager of the FIP Conexões Startups. The deadline for submitting proposals ended on August 12. The publication of the final ranking is expected to take place by November 23, 2026.

The initiative seeks to structure a private equity investment fund focused on early-stage startups, especially those that have received support from innovation promotion, grant, or acceleration programs carried out in the country. The goal is to increase the conversion of these companies into opportunities capable of receiving investments from seed capital funds, venture capital, and other institutional investors.

The FIP is estimated to mobilize up to 250 million reais to invest in early-stage startups. BNDESPAR, a wholly owned subsidiary of BNDES, will commit up to 100 million reais. Finep, in turn, with resources from the National Fund for Scientific and Technological Development (FNDCT), will commit 50 million reais. It will be up to the selected manager to mobilize other investors to complement the fund’s capital. 

The Fund aims to serve as a connection tool between the startup promotion and/or acceleration programs developed in the country and the activities of private equity funds, reinforcing the strategy of supporting the development and consolidation of startups. The Fund’s central thesis will be to increase the conversion rate of startups supported by public grants, acceleration programs, innovation support programs, innovation hubs and Scientific, Technological and Innovation Institutions (ICTs), into opportunities suitable to receive investment from seed capital funds, venture capital and other institutional investors.

“The 19 proposals received demonstrate the interest in and relevance of the topic. FIP Conexões Startups seeks to stimulate the country’s capacity for innovation, transforming the support already offered by promotion and acceleration programs into a more continuous trajectory of development, access to investment, and growth. The initiative mobilizes long-term capital to support early-stage Brazilian startups in developing technological entrepreneurship projects,” said the president of BNDES, Aloizio Mercadante.  

Connection - The FIP Conexões Startups was conceived to reduce a recurring gap in the innovation ecosystem: the transition between the initial support received by startups and access to institutional capital. Most of the capital invested by the fund should be allocated to startups previously supported by innovation promotion, grant, or acceleration programs carried out in Brazil.

Among the programs considered are Centelha, Inovacred, Economic Subsidy, Tecnova and Innovative Women, from Finep, as well as Mais Inovação and BNDES Garagem, from BNDES. The list is not exhaustive and may include other programs and initiatives from the national innovation ecosystem.

The fund’s activities should help integrate development and acceleration programs, innovation hubs, scientific and technological institutions, and investors; qualify the pipeline of startups eligible to receive investment; increase the capacity of invested companies to access new funding rounds; mobilize private and institutional resources for early-stage startups; and support the managerial, commercial, and governance development of the companies.

It will be up to the selected manager to make investments compatible with the size and development stage of the startups, support them in executing their business plans, and prepare them for future fundraising rounds. Support may be offered directly by the manager’s team or through partnerships with accelerators and specialized institutions.

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