An initiative within the Brazilian Artificial Intelligence Plan will support AI-intensive startups.
The National Bank for Economic and Social Development (BNDES) and the Financing Agency for Studies and Projects (Finep) are launching, this Thursday, April 9th, public call to select a manager for the Artificial Intelligence Private Equity Investment Fund (FIP). The proposals will be evaluated based on the qualification criteria of the management company and its team, the fund's investment thesis, and projected costs.
This initiative aligns with the Brazilian Artificial Intelligence Plan (PBIA), which envisions the creation of an investment fund focused on supporting artificial intelligence startups, with the central challenge of increasing the number, revenue, and global presence of Brazilian startups with this characteristic. The initiative is also aligned with the New Industry Brazil (NIB).
The FIP investment will target startups that are intensive in artificial intelligence and that have AI as a central element of their business model and value creation, and not just as an accessory or complementary tool.
Through its wholly-owned subsidiary BNDES Participações SA (BNDESPAR), the Bank will commit up to R$125 million. Finep, through the National Fund for Scientific and Technological Development (FNDCT), may commit up to R$80 million. The amount to be committed by each anchor investor will be limited to 25% of participation in the FIP, thus attracting other investors interested in the subject matter. Of the total resources invested by Finep, 30% will be directed to startups located in the North, Northeast, and Central-West regions.
“Artificial intelligence is consolidating itself as a technology with the potential to increase productivity and create markets as it spreads across all sectors of the economy. Therefore, it is a priority for President Lula's government to support infrastructure, talent development, and stimulate innovation. The fund is an important mechanism to achieve this objective because it has the potential to offer long-term capital to startups, which generally have difficulty raising capital, in addition to providing governance and monitoring capacity compatible with projects based on intangible assets, high technological risks, and strong scalability potential,” explains the president of BNDES, Aloizio Mercadante.
“The launch of a FIP (Investment Fund in Participations) to invest in technology-intensive startups is part of a strategy to develop Artificial Intelligence solutions that promote increased research, development, and innovation activities in the sector and significantly improve the population's quality of life. From the perspective of the MCTI (Ministry of Science, Technology and Innovation) and Finep (Brazilian Innovation Agency), the new FIP is yet another initiative to fulfill a goal foreseen in the Brazilian Artificial Intelligence Plan: to make the country a world reference in innovation and the use of AI,” stated the president of Finep, Luiz Antonio Elias.
The Brazilian startup ecosystem is large and widespread, with annual mappings capturing thousands of active companies. Recent studies indicate that AI already represents a significant portion of investments. By 2025, 39% of the capital invested in startups in Brazil was directed to companies that apply AI.
Funds – BNDESPAR is one of the main national institutional investors in seed capital and venture capital funds (focused on innovative micro, small and medium-sized enterprises). It has R$1.83 billion in committed capital. Each R$1.83 billion invested by BNDESPAR leverages another R$1.83 billion in third-party capital, for a current total of R$3.35 billion committed across 21 active FIPs (seven seed capital funds and 14 venture capital funds), resulting in investments in more than 210 MSMEs. These are companies that traditionally face greater difficulties in raising capital.
Finep and FNDCT promote and support investment initiatives aimed at developing innovative companies with high growth potential through seed capital and venture capital funds (focused on innovative micro, small, and medium-sized enterprises). In recent years, there has been a resumption of calls for FIPs (Private Equity Investment Funds) in strategic sectors, in areas such as Health, Energy Transition, Bioeconomy, and Govtech, as well as resources to support startups in the Northeast region. The resources committed by Finep and FNDCT are central to leveraging third-party capital, acting as an important driver of investment in innovative Brazilian companies.
