The fund wants to make seven investments in IoT-related startups in the region by the end of 2021. With a duration of 10 years, the fund will invest in up to 30 early stage startups (Series A).
Indicator Capital, Brazil‘s National Bank for Economic and Social Development (BNDES, its Portuguese acronym) and Qualcomm Ventures launched an early-stage venture capital fund, with a first-close of USD 45 million (BRL 240 million), focused on startups that develop services and products related to Internet of Things (IoT) and connectivity in Latin America.
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