Indicator Capital, BNDES, Qualcomm Ventures partner in LATAM

Monday 17 May 2021 09:26 CET | News

Indicator Capital, BNDES, and Qualcomm Ventures launch USD 45 million fund in Latin America to IoT startups.

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.

Besides the creators of the public bid, the newest Indicator 2 IoT FIP fund has other five investors: Banco do Brasil, Multilaser, Motorola, Lenovo, and Telefônica Ventures / Vivo, among other institutional and corporate investors, Indicator Capital said, in a press statement.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: central bank, funding, IOT
Categories: Banking & Fintech
Countries: Latin America
This article is part of category

Banking & Fintech