DFIs commit to Brazilian impact fund with $150m target
Germany's DEG, Brazilian development bank BNDES, the Inter-American Development Bank, and France's Proparco are investing in the Brazilian Vinci Impact and Return Fund IV, which has a $150 million target. DEG is contributing up to $11.8 million.
By the end of the first subscription round, approved commitments had already reached $87 million. The fund manager of VIR IV is Vinci GGN Gestão de Recursos, a Brazilian-based subsidiary of Vinci Partners Investimentos. Vinci has invested in excess of BRL4.1 billion (about $1.8 billion) across 30 investments to date within diverse market cycles in recent years.
The fund’s sector focus includes areas currently seen as 'high importance', including education, healthcare, IT as well as healthy and environmentally friendly consumer goods. DEG has previously co-financed sustainable projects in Peru, Nigeria, Ghana, Cambodia, Asia and the Caribbean as an anchor investor.
