This week, we bring you the most important stories in technology and innovation from Brazil and Latin America. This week: A bioeconomy Fund to foster tech-based business in the Amazon rainforest.
Amazon bioeconomy to receive USD 30 million boost
The Brazilian asset manager KPTL, pronounced “capital”, has just launched its international venture capital fund. It targets the bioeconomy in seven Latin American countries which make up the Amazon rainforest. These are Brazil, Bolivia, Colombia. Ecuador, Peru. Guyana and Suriname.
The fund, named Amazonia Regenerate Accelerator and Investment Fund is a partnership between Kaete, an investment firm that focuses on sustainable investments for low-income communities.
Context. The fund was born out of a conversation that took place two years ago between KPTL’s CEO Renato Romalho and Kaete’s founder Otavio Otoni. “We realized that we could get this off the ground using Kaete’s regional expertise and KPTL’s VC expertise,” Ramalho told The Brazilian report.
Backdrop. KPTL has been a leader in impact investing for many years. KPTL manages the Environmental Innovation Fund (FIMA), which was created by Brazil’s National Development Bank, (BDNES), with more than USD 1 Billion under management.
- In 2022, KPTL will also partner with mining company Vale.