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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.

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

Banking & Fintech